NCUA: More people joining credit unions, but CU numbers dropping
People are still joining credit unions.
That’s one of the main takeaways from the NCUA’s Quarterly Credit Union Data Summary for the third quarter of 2022, issued by the agency last week.
Between the third quarter of 2021 and third quarter of 2022, federally insured credit unions added 5.7 million members, with overall membership reaching 134.3 million.
At the same time, the overall number of federally insured credit unions fell by 177, from 4,990 in the third quarter of 2021 to 4,813 in the third quarter of 2022, numbers the NCUA says are “consistent with long-running industry consolidation trends.”
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