The spending and savings choices today’s credit union members are making provides a gauge into what’s happening across both states’ local economies according to first-quarter 2018 regional/local trends published by the California and Nevada Credit Union Leagues.
More than 667,000 consumers over the past year chose to become members of a local credit union headquartered in California as of March 31, 2018 (first quarter)—as well as 13,000 in Nevada.
There are now 311 locally-headquartered credit unions in California compared to 440 in 2010, 626 in 2001, and 877 in 1991. Meanwhile, the state’s 7.6 million-member movement in 2002 rose to 11.7 million by first-quarter 2018.
In Nevada there are 16 locally-headquartered credit unions today compared to 23 in 2010, 29 in 2001, and 35 in 1991. Comparatively, this state’s 339,000-member movement in 2002 increased to 353,000 by first-quarter 2018.
Click each region in California to view localized year-over-year credit union trends (1Q 2018):
Bay Area
California (entire state)
Central Valley
Eastern Sierra Corridor
Inland Empire
Los Angeles County
North Central Coast
Northern California
Orange County
Sacramento County
San Diego County
Santa Cruz County
South Central Coast
Click each region in Nevada to view localized year-over-year credit union trends (1Q 2018):
Nevada (entire state)
Northern Nevada
Southern Nevada
Credit union members continue taking on first-mortgages to purchase or refinance homes, are turning home equity into cash for remodeling or other large purchases, and have slid into the driver’s seat of a newer car or truck thanks to an auto loan. They are also remaining true to the habit of paying for life through credit cards, but are trying to save more money and increasingly using their credit union to transact for purchases and bill-pay.
For economic and industry context, please contact the following for interviews:
Robert Eyler, Board Member of Redwood Credit Union and Economist at Sonoma State University
- Expertise: labor force churn, job market dynamics, worker wages, business and industry demographics, economic and workforce mobility, monetary policy, the Federal Reserve, banking environment, and the California-to-Nevada migration trend.
- Phone: 1-707-318-0348
- Email: eyler@sonoma.edu
Dwight Johnston, Chief Economist for the California Credit Union League
- Expertise: consumer interest rates, the bond market, U.S. Treasuries, financial market reactions and scenarios, the Federal Reserve, monetary policy, and “big picture” daily economic and political chatter.
- Phone: 1-909-215-3657
- Email: dwightj@ccul.org
Robert Eyler photo
Download here: http://econforensics.com/wp-
Dwight Johnston photo
Please request by emailing mattw@ccul.org (or search Google for “Dwight Johnston California Credit Union League” to download)
Other Contacts
For other news-media inquiries, contact Matt Wrye, media relations manager for the California and Nevada Credit Union Leagues (909-212-6043).