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Fifty-one Percent of CUs Had Fewer Members Compared to a Year Ago "Credit News 24"

The National Credit Union Administration (NCUA) reported that over half of all federally insured credit unions reported a year-over-year decline in credit union membership at the end of 2017.

While overall credit union membership increased for the four quarters ending December 31, 2017, the median membership growth rate fell by 0.1 percent.

In comparison, the median membership growth rate was negative 0.2 percent for the four quarters ending December 31, 2015.

Fifty-one percent of all federally insured credit unions reported fewer members as of December 31, 2017 compared to a year ago.

NCUA noted that 75 percent of the credit unions reporting fewer members compared to a year ago had less than $50 million in assets.

Twenty-three states reported negative median membership growth rate for the four quarters ending on December 31, 2017. At the median, the membership growth rate for credit unions in the District of Columbia was minus 1.9 percent, followed by Pennsylvania at minus 1.5 percent and New Jersey at negative 1.4 percent.

On the other hand, credit unions in Alaska and Maine reported the fastest median membership growth rates at 2.4 percent and 2.0 percent, respectively.

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Title : Fifty-one Percent of CUs Had Fewer Members Compared to a Year Ago "Credit News 24"
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