MADISON, Wis. — Expanded fields of membership for many credit unions may have helped the industry bring in an estimated 317,000 new members through February.
According to CUNA Mutual Group's April issue of the Credit Union Trends Report, this brought the year-over-year increase to 1.2 million members, or 1.3% annual growth.
"Our preliminary 2007 outlook assumes growth of roughly 1.0% as CUs tap expanded fields of membership, but runoff of indirect loan-only members and weak new indirect volume will dampen gains," said Dave Colby, chief economist at CUNA Mutual and author of the report.
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