CUNA announced Tuesday that credit unions surpassed 100 million memberships nationally, according to data collected from credit unions in CUNA’s June 2014 “Monthly Credit Union Estimates.”
In the past 12 months (June 2013 to June 2014), credit union memberships expanded by 2.9%, compared to 2.5% in 2013 and 2.1% in 2012, according to CUNA data.
CUNA predicts that membership growth for 2014 would exceed last year’s total.
Credit unions added a total of 2.85 million additional memberships over the past year – the largest reported increase in more than a quarter century. And, in percentage terms, the 2.9% increase was the fastest since 2000, according to the CUNA analysis.