Credit union performance: Movement grows despite fewer institutions

Posted: Dec 10, 2019 | Author: Cornerstone Credit Union League

Continuing a decades-long trend, the number of credit unions in the U. S. dropped from 5,596 as of June 30, 2018 to 5,425 in 2019. Of note, shares were up 6.0% year-over-year to $1.2 trillion, loans were up 6.5% to nearly $1.1 trillion, and membership was up 3.7% to 119.7 million as the movement continues to grow despite having fewer institutions to serve America’s consumers.

Another sign of health: The average return-on-assets for the credit union industry was 0.97% in the second quarter of 2019. That’s up two basis points from 0.95% in the first quarter and seven basis points from 0.90% in the second quarter of 2018.

Source: CreditUnions.com