Federally insured credit unions saw share growth of 7.3 percent, year over year, during the second quarter as membership grew to nearly 105 million, according to call report data released Tuesday by NCUA.
NCUA’s 2Q data showed credit union membership growth of 3.8 percent versus a year ago; and loan growth of 10.5 percent, year over year. Credit union membership reached 104.9 million.
NAFCU President and CEO Dan Berger said the data shows how credit unions are continuing to outshine their competition and build strong ties with their communities.
“The second-quarter data indicates credit unions continue to deliver exceptional value and service to their members,” said Berger. “American consumers are seeing the difference between credit unions and their competitors, and the choice is clear. Excellent member service and first-rate products and services continue to set credit unions apart and draw new members to the industry.”continue reading »