MADISON, Wis. — Membership gains for the remaining three months of the year will likely be slower due to indirect loan runoff and membership management, industry data shows.
According to CUNA Mutual Group's July Credit Union Trends report, at the end of July, there were 88.5 million members, roughly 553,000 above the total gain for all of 2005.
The 500 largest credit unions, as measured by total assets as of mid-year, held 52% of all members, said Dave Colby, CUNA Mutual chief economist, who compiled the report. These credit unions have accounted for 86% of the total increase membership over the past year. Still, not all credit unions are generating membership growth. NCUA data show that 4,694 of them reported no gain or a loss in membership over the past year. Through the first half of 2006, 4,247 reported a loss of members and 228 reported no gain.
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