Slowing Membership Growth WorriesNCUA

Register now

WASHINGTON - (09/29/04) -- NCUA Board member Deborah Matz saidTuesday she is concerned that a slowdown in membership growth maypose a safety and soundness concern for credit unions over thecoming years. Matz told attendees to NAFCU's Congressional Caucusthat even with the broad expansion of field of membership amongcredit unions, growth in actual membership has slowed to 2% thisyear, its lowest in several years. "That means the majority of yourgrowth is coming from existing members," said Matz. Credit unions,she said, need to look to new populations for their growth, likeLatinos, Asians and other growing immigrant groups. Matz alsorepeated her concern about the loss of small credit unions, withone small credit union disappearing through merger or liquidationevery business day of the year, she said.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER