Newsroom
March 07, 2019
CU membership surpasses 116M in Q4
Membership at federally insured credit unions surpassed 116 million in the fourth quarter of 2018, adding 4.9 million members over the year. In addition, total assets grew 5.4 percent, year over year, to $1.45 trillion, according to call report data released Wednesday by the NCUA.
"Credit unions again saw strong membership and asset growth in 2018 as a result of their commitment to helping people meet their financial goals," said NAFCU Chief Economist and Vice President of Research Curt Long. "Reducing crippling regulatory burdens would allow credit unions to provide even greater assistance to their 116 million members."
Here are highlights of the NCUA's 2018 fourth-quarter call report data:
- Membership in federally insured credit unions rose 4.4 percent, up 4.9 million members from a year ago.
- Assets grew 5.4 percent to $1.45 trillion, up from $1.37 trillion a year ago.
- Loans outstanding grew 9 percent to $1.04 trillion, up from $957 billion a year ago.
- Deposits (shares) grew 5.2 percent to $1.22 trillion, up from $1.16 trillion a year ago.
- Net worth grew 8.8 percent to $164.3 billion, up from $151.1 billion a year ago.