4 Ways Credit Union Market Share Is Growing

4 Ways Credit Union Market Share Is Growing

Article from: CreditUnions.com

Membership at U.S. credit unions increased 4.4% — or 4.8 million members — in the past 12 months to hit 115.5 million members as of June 30, 2018. As membership climbs higher, so, too, has the variety and number of accounts members hold with their credit unions.

1. Share Drafts

The number of share draft accounts has jumped from 52.9 million accounts as of June 30, 2014, to 66.4 million accounts as of midyear 2018. That’s an increase of 25.4% in the past five years. Share draft penetration likewise has increased. It rose from 53.4% in the second quarter of 2014 to 57.5% in the second quarter of 2018.

  

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