CUNA Reveals a 400,000 Oops in Counting New Members
Blame it on the survey and those who responded to it.
That’s CUNA’s explanation of why its original estimate that credit unions had a net increase of 650,000 members in October was off by about 400,000.
American Bankers Association Senor Economist Keith Leggett said he’s not surprised that CUNA revised its estimates downward and said there were flaws in the survey.
“The survey obviously caused confusion because people didn’t know what they were being asked,” said Leggett, a credit union critic who writes a blog on credit union trends.