KBRA Financial Intelligence

Steady Rise in Credit Union Members, Shares & Deposits, and Lending

Credit union membership experienced a compound annual growth rate (CAGR) of 4.9% over the past five years, increasing to 141.6 million in Q1 2024 from 111.7 million in Q1 2019. Meanwhile, total shares & deposits, as well as total loans & leases, both grew at a 9.9% CAGR.

Large credit unions with assets exceeding $5 billion experienced the fastest year-over-year (YoY) growth, with 11.2% YoY growth in the number of members, 9.7% in shares & deposits, and 13% in loans & leases.

Among credit unions with assets over $1 billion, Twinstar Credit Union, Blaze Credit Union, and Merrimack Valley Credit Union reported the most significant membership growth, each exceeding 50% annually.

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