Study: Pending Borrower Shortage

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More than half of all credit union members have now left their "prime borrowing years," which could lead to a shortage of members to whom to lend, according to new analysis from CUNA. A just-published E-Scan Insights Series report found that 54% of members do not fall in the 25-44 age group generally considered to be the prime borrowing years. Moreover, the analysis found that members age 18-24 who are approaching their "prime borrowing years" are equal to just 5% of the total adult credit union membership.

The one bright spot: "Credit unions may be a little better off than banks, as survey data suggests that consumers who primarily use banks are even older, on average, than those who primarily use credit unions."

"With such a small percentage of members on deck to replace those in their peak borrowing years, credit unions should first analyze the age distribution of their members and identify the impact on future loan volume," said Vicki Joyal, vice president of research services for CUNA. "Most credit unions will then need to revise their credit union's product/service offerings and marketing strategies to better attract students and young adults."

The report, entitled "Exploring Members & the Credit Union Brand," includes analysis of member characteristics that drive financial behaviors to help guide strategic planning for branding, marketing, and product management decisions.

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The report sells for $75 (subscribers to The Point for Credit Union Research get a $25 discount). For info: and click on "Reports."

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