Pool of Potential Members Continues to Grow, CUNA Survey Finds

MADISON, Wis. – Forty percent of nonmembers from every age group indicated they are eligible to join a credit union, according to the “2006-2007 Survey of Potential Members: Opportunities and Challenges in Growing Your Membership” from CUNA.

The survey finds that nearly 79 million adults from all age groups said they were eligible for credit union membership. Jon Haller, director of market research for CUNA’s Center for Research and Advice, said credit unions are more likely to grow their membership by attracting new members versus offering more products and services to existing members, citing data from a Filene Research Institute study. CUNA reported the highest percentage of eligible potential members was found either in or near the prime borrowing years of 25 to 44.