Credit union branching in 2018
The total number of credit union brick-and-mortar branches decreased versus one year ago, but how has the cooperative system fared in generating deposits versus competitors nationwide? Find out in this interactive graph.
Branch operations and their relationship to the future of banking are a growing concern among financial services providers. Given the expense of operating a physical location coupled with the growing preference of consumers to conduct routine transactions digitally and more sophisticated engagements in person, those concerns are not totally unwarranted.
Nationwide, the industry lost 679 brick-and-mortar branches year-over-year, according to annual branch data released by the FDIC and the NCUA in early October. That’s a decrease of 3.7%.
The total credit union branch count increased in only five states: North Dakota, Michigan, Connecticut, Georgia and Nevada. Texas lost 98 credit union branches in the past year yet still reported the highest number overall — 1,415 — as of June 30, 2018.
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