Credit Union Consolidation Continues

Sep 04, 2019
Total assets in federally insured credit unions rose 6.3 percent over the past year to $1.52 trillion while their numbers declined to 5,308 from 5,480, the National Credit Union Administration reported.

According to second-quarter data, insured shares and deposits rose $62 billion, or 5.5 percent, while the average credit union outstanding loan balance rose 1.5 percent to $15,458.

The troubling trend of large credit unions buying up smaller community banks made headlines this week in The Wall Street Journal.

ICBA has led the way in raising the profile of this troubling trend with its Credit Union Task Force, Be Heard grassroots action alert to Congress, and email address, which community bankers can use to flag examples of egregious credit union actions.