For many consumers, paying down debt may be more of a concern than finding the best rates on deposit accounts.
Even as credit unions continue to manage deposit yields, for many consumers, some concerns are more pressing, such as reducing debt.
The strain of staying ahead of managing capital and net worth ratios has left some credit unions looking at the bottom of the barrel for more solutions as the year comes to an end.
Like some of the smaller credit unions, the bigger, billion-dollar ones are feeling the sting of a drop in membership.
While credit unions under $50 million in assets have consistently reported a decline in membership, some billion dollar cooperatives continue to experience a decrease as well.
In some credit union circles, it remains a taboo subject: making the decision to sever relationships with those members who have dormant, low-fund accounts that have become too expensive for the credit union to maintain.
With less than stellar gains in lending, credit unions may have to shift their focus even more to meeting members where they are as unemployment, furloughs and foreclosures impact how and if they are able to continue paying their loans.
Expenses related to inactive members coupled with low deposit rates could slow membership growth for the remainder of the year.
Over the next 12 to 18 months, repairing members' balance sheets may be the primary source of loan growth for credit unions.
While total savings are up 6.0% over the past year at credit unions, certificates of deposits remain on a steady decline.