The number of credit unions in the United States declined 27% between 2003 and 2012, from 9,369 to 6,812. Credit unions completed an additional 243 mergers in 2013. Attrition has disproportionately affected smaller institutions, particularly those with less than $50 million in assets. These credit unions have been, and likely will continue to be, especially vulnerable to trends affecting financial institutions in general, such as competitive pressures, ever-increasing regulatory compliance costs, and the persistently low interest rate environment.
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