For the second year in a row, credit unions may wind up opening more branches than they closed, according to financial data firm SNL Financial.
According to data collected by the Charlottesville, Va.-based firm, credit unions closed the six months ending July 30, 2015 having opened 27 more branches than they closed. By comparison, the industry closed 2014 with a net branch increase of 17 for the year, after having closed more branches than it opened in 2013 and 2014, the firm said.
SNL reported credit unions that added the highest number of branches this year, as of July 30, included Navy Federal Credit Union in Vienna, Va. (up by 11 branches); United Federal Credit Union in St. Joseph, Mich. (up by four); Quorum Federal Credit Union in Purchase, N.Y. (up by five); Alaska USA Federal Credit Union in Anchorage, Alaska (up by four); Truliant Federal Credit Union in Winston-Salem, N.C. (up by four); Randolph-Brooks Federal Credit Union in Universal City, Texas (up by three) and Tulsa Federal Credit Union in Tulsa, Okla. (also up by three).
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