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Fifty-one Percent of CUs See Year-over-Year Decline in Membership "Credit News 24"

More than half of the nation's federally insured credit unions reported fewer members at the end of the first quarter of 2018 compared to a year ago.

The National Credit Union Administration reported that 51 percent of federally insured credit unions had fewer members at the end of the first quarter of 2018 than a year earlier. This is the third consecutive quarter where over half of all federally insured credit unions had fewer members compared to the same quarter a year earlier.

The median year-over-year credit union membership growth rate was -0.1 percent.

Median membership growth was negative in 22 states. At the median, membership declined the most in the District of Columbia (-2.4 percent), followed by Pennsylvania (-1.5 percent). Other states reporting median year-over-year membership growth rate of negative 1 percent or less were Ohio (-1 percent), Nebraska (-1.1 percent), New Jersey (-1.2 percent), Oklahoma (-1.2 percent), and Montana (-1.3 percent).

About 75 percent of credit unions with declining membership had assets of less than $50 million.

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Title : Fifty-one Percent of CUs See Year-over-Year Decline in Membership "Credit News 24"
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