Multiple Common Bond Expansions Running at About Last Year's Level
ALEXANDRIA, Va. -- The number of credit unions which expanded their fields of membership by adding more select employee groups is running at about the same pace as in 2005, according to statistics from the NCUA.
According to the agency's numbers, 640 credit unions added SEGs to their FOMs as of July 31, 2005 versus 638 in the same period of 2006. However, the number of groups added is up in 2006 (5,444 vs. 5,038) as is the number of potential new members (roughly 1.38 million vs. roughly 1.3 million in 2005).
Just last year, credit unions in NCUA's Region III added the most number of potential new members, 641,000. Credit unions in Region IV added the lowest number, just fewer than 69,000.