ALEXANDRIA, Va.–While just released data for the overall credit union community shows robust growth, it also shows that more than half of all federally insured credit unions are reporting negative membership growth this year.
As has been the case for some time, larger credit unions have been goosing what appear to be strong performance for all credit unions. Data released through the third quarter as part of the NCUA Quarterly U.S. Map Review show that overall credit union membership continued its growth during the year ending in the third quarter of 2016; however, at the median, membership declined 0.1%.
The median membership growth rate was negative 0.2% over the previous year, according to NCUA. Overall, 51% of federally insured credit unions had fewer members at the end of the third quarter of 2016 than a year earlier, according to the agency.
Approximately 75% of credit unions with declining membership had assets of less than $50 million.
Idaho (2.3%) had the highest median membership growth rate over the year ending in the third quarter of 2016, followed by Alaska (2.1%), NCUA said. Median membership growth was negative in 22 states. At the median, membership declined the most in Pennsylvania (-1.6%) and Oklahoma (-1.3%), NCUA said.