Fewer credit unions! The downward trend continues. It's just too expensive to do everything credit unions must do to be competitive...especially in a small-operation context.
Again, it is increasingly clear that on-going survival for most credit unions is evermore dependent on: 1) confirming market relevancy (helping, not selling, is our critical difference!), 2) increasing the amount of banking we do per member, and 3) moving aggressively to an internet-based operation. This latter point— shifting members to on-line banking (which is where they are going anyway!)— is absolutely critical to future success. It's more than just having a website. It calls for different thinking, different ways of doing everyday business.
Again, if you have thoughts on any of this— pro or con— please share them with us!
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | |
|---|---|---|---|---|---|---|---|
| #Credit Unions | 7,970 | 7,695 | 7,491 | 7,231 | 6,956 | 6,680 | 6,398 |
| (% increase over prior year) | -3.3% | -3.5% | -2.7% | -3.5% | -3.8% | -4.0% | -4.2% |
| # Members (millions) | 89.8 | 91.1 | 91.7 | 93.0 | 95.0 | 97.5 | 100.5 |
| (% increase over prior year) | 1.6% | 1.4% | 0.5% | 1.4% | 2.2% | 2.5% | 3.1% |
| Total CU Assets (billions) | $826 | $897 | $925 | $974 | $1,034 | $1,047 | $1,136 |
| (% increase over prior year) | 7.3% | 10.4% | 3.2% | 5.3% | 6.2% | 3.9% | 5.7% |
| Average Return on Assets | 0.30% | 0.17% | 0.50% | 0.66% | 0.83% | 0.77% | 0.78% |
| % of CUs w/negative earnings for year | 23% | 50% | 40% | 40% | 26% | 27% | 22% |
*Note: All data on this page is drawn from NCUA's year-end 5300 reports.
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | |
|---|---|---|---|---|---|---|---|
| Average # Accts/Mbr* | 2.35 | 2.36 | 2.35 | 2.35 | 2.37 | 2.39 | 2.42 |
| Average Fee Income /Mbr | $77 | $78 | $78 | $76 | $79 | $78 | $73 |
| Average Ops Expense /Mbr | $299 | $301 | $327 | $332 | $337 | $342 | $342 |
| Average Net Earnings/Mbr | $27 | $17 | $50 | $69 | $90 | $84 | $88 |
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | |
|---|---|---|---|---|---|---|---|
| % Members w/checking | 46% | 47% | 48% | 50% | 51% | 53% | 54% |
| % Members w/CDs | 14% | 13% | 12% | 11% | 10% | 9% | 9% |
| % Members w/MMAs | 7% | 8% | 8% | 8% | 7% | 8% | 7% |
| % Members w/IRAs | 6% | 6% | 6% | 6% | 6% | 5% | 5% |
| % Members w/Credit Cards | 14% | 14% | 15% | 15% | 15% | 16% | 17% |
| % Members w/Auto Loans | 17% | 17% | 16% | 16% | 16% | 17% | 18% |
| % Members w/1st Mortgage | 2% | 2% | 2% | 2% | 2% | 2% | 2% |
| % Members w/HE Loans | 3% | 3% | 3% | 3% | 2% | 2% | 2% |