Matz Expresses Concern Over Slowdown In Membership
NCUA Board member Deborah Matz said last week she is concerned that a slowdown in membership growth may pose a safety and soundness concern for credit unions over the coming years. Matz told attendees to NAFCU's Congressional Caucus that even with the broad expansion of field of membership among credit unions, growth in actual membership has slowed to 2% this year, its lowest in several years. "That means the majority of your growth is coming from existing members," said Matz. Credit unions, she said, need to look to new populations for their growth, like Latinos, Asians and other growing immigrant groups. Matz also repeated her concern about the loss of small credit unions, with one small credit union disappearing through merger or liquidation every business day of the year, she said.