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In its annual report to Congress, NCUA officials released the most recent data Wednesday concerning the minority depository institution (MDI) credit unions in the country. The report found, overall, a period of “growth in membership, assets and loans in 2022” in which MDIs helped expand financial services to members and communities.

According to the report, the number of MDIs supervised by the NCUA dropped to 503 in 2022 from 509 in 2021. The decrease, according to the NCUA, was “largely due to mergers” or “credit unions no longer self-designating as MDIs.”

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Michael Ogden

Editor-in-Chief for CU Times. To connect, email at [email protected].

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