by. Keith Leggett
The available evidence shows that credit union membership growth is concentrated primarily among large credit unions.
CUNA Mutual in it December 2013 Credit Union Trends Report stated:
"Between Q3 2012 and Q3 2013, CUs with assets in excess of $1 billion (210 CUs) accounted for 66% of all membership gains. During the same period, 3,684 CUs (55% of all CUs) reported membership declines. These CUs held 24% of industry assets. Included in this group are 42 CUs with assets above $1 billion."
CUNA Mutual points out that credit unions added 3 million members over the twelve-month period ending in September 2013. This means that 168 credit unions with $1 billion or more in assets added almost 2 million of these members during the 12-month period ending Septmeber 30, 2013.
In addition, NCUA confirmed this trend noting that only credit unions with more than $500 million in assets on average reported year-over-year membership growth (5.8 percent), as of the end of the third quarter of 2013. Credit unions with less than $500 million in assets generally saw a decline in membership growth and the pace of decline accelerated the smaller the credit union.
Credit unions with less than $10 million in assets saw their membership fall by 10 percent compared to a decline of 5.2 percent for credit unions with between $10 million and $100 million in assets and a decline of 0.1 percent for credit unions with between $100 million and $500 million in assets.
