Nebraska credit unions are closing out 2016 by marking a milestone.
According to the Nebraska Credit Union League, membership at credit unions there surpassed 500,000 during September, reaching 501,273 – a 15.4% growth rate (nearly 67,000 new members) over the past five years.
NCUL President Scott Sullivan attributed the gains to millennial preferences, anti-big bank sentiment and the economic environment.
"More than one in four of the state's population now participates in the financial benefits of credit union membership," Sullivan said in a press release. "As uneven economic outcomes for Americans, burdensome regulations and disruptive competitors pursuing new business models impact the marketplace, it is the resilient, long-term, member-driven approach that enables credit unions to grow in approval and popularity."
Nebraska has 61 federally insured credit unions, according to National Credit Union Administration data.
