Credit union membership and assets continued to grow, but there was a wide disparity between large and small institutions, CUNA Mutual Group reported in its June Credit Union Trends Report.
The average credit union asset growth of 7.3% in 2015 hid a disparity between large and credit unions, CUNA Mutual said. During the past 12 months ending in the first quarter of this year, credit unions of more than $1 billion grew assets 9.2%. That compares with asset growth of 1.5% at credit unions with fewer than $20 million.
Credit unions membership growth is expected to exceed 3% this year, pushing total credit union membership to 108 million members. In the last 12 months ending in the first quarter of 2016, credit union membership grew 6.6% at institutions with assets of more than $1 billion, compared with less than 1% for credit unions with fewer than $100 million.
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