MADISON, Wis.—The growth in credit union membership shows no sign of plateauing at 100-million Americans.
CUNA released statistics showing overall CU membership grew by 0.5% during September after reporting similar gains during August. The September numbers have pushed credit union membership to 101.5 million in the U.S.
CUNA said the 5.6% annualized growth was the second-fastest monthly advance in 2014, and the 3.4% year-over-year increase is the fastest seen since 1994. Credit union lending grew 0.8% in September after posting a 1.2% increase during August, with fixed-rate first mortgages and new-auto loans driving the volume.
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