While some credit unions are reporting strong membership growth as consumers become dissatisfied with "big, remote, bailed-out" banks, others may be experiencing just the opposite.
Those credit unions grappling with extremely tight expense management to rebuild capital "are content with little or no growth," CUNA Mutual Group's May Credit Union Trends Report noted.
Current estimates show the nation's credit unions added 257,000 members in May. This brings total membership estimates up to 92.1 million, which is a net gain of 1.3 million year-to-date and 1.2 million above the May 2008 level. First quarter NCUA data shows almost 4,000 CUs reporting membership declines over the past year, according to the trends report released today.
Recommended For You
CUNA Mutual said a combination of more consumers choosing a local credit union as their primary financial institution, mergers, which can reduce the redundancy of member counts, and credit unions actively managing their membership rolls, will produce annual gains averaging just under a million new members per year over the next four years.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
