Where the Branches Aren't
August 27, 2015 4:00 PM
An SNL Financial survey explore how many branches are being opened and closed on a state-by-state basis. A previous CU Journal slideshow looked at which states had the biggest jump in net branch growth (more branches opened than closed). Now, we look at which states showed the greatest decline in branch growth (more branches closed than opened). Due to Due to a five-way tie for second place, a three-way tie for both second and third place and a five-way tie for fifth place, the "bottom five" actually comprises 17 states. SNL said its ranking was based on net openings/closings from Jan. 1, 2015 to July 30, 2015. The ranking was limited to credit union branches that take deposits and excludes ATMs, mortgage offices and loan production offices.
Hawaii
Hawaii was one of five states to tie for fifth place among states seeing a net loss of branches so far in 2015, losing one branch. That's actually an improvement over the last few years, when the Island State experience a net loss of five branches in both 2014 and 2013 and two in 2012. Hawaii has 163 total branches.
Massachusetts
Massachusetts has lost one branch so far this year, after seeing a net gain of one in 2014 and two is 2013. The state lost two branches in 2012 and has a total of 500 branches.
Montana
With 122 branches total, Montana also lost one net branch this year after seeing no net gain or loss in 2014, 2013 and 2012.
New York
New York has seen a net loss of one branch this year, following two years of zero net growth in 2014 and 2013, and loss of seven in 2012. The Empire State boasts a total of 1,042 branches.
South Dakota
Rounding out fifth place is South Dakota, having lost one net branch so far this year and zero last year. The state posted a net loss of one in 2013 and zero in 2012. The Mount Rushmore State has 100 branches.
Colorado
Colorado is part of a three-way tie for fourth place, experiencing a net loss of two branches so far in 2015. The state balanced that out with a net gain of two last year, but lost five in 2013 and gained one in 2012.The Centennial State has 329 branches.
Oregon
Oregon also has lost two branches so far this year after gaining two the previous year. The state saw a loss of three in 2013 and six in 2012. The Beaver State has 303 branches.
Washington
Rounding out fourth place is Washington, which has lost two so far this year after steady growth the previous four years: four in 2014, nine in 2013 and 2 in 2012. The state has 541 branches.
Alabama
Alabama is in a three-way tie for third place with a net gain of three branches so far this year. The state posted net gains of four and two in 2014 and 2013, respectively, with neutral growth in 2012. Alabama has 449 branches.
Georgia
Georgia also lost three branches, following three straight years of decline: one each in 2014 and 2013 and three in 2012. The state has 476 branches.
Oklahoma
Rounding out third place is Oklahoma, posting a loss of three branches in 2015 so far, but that is preceded by neutral growth in 2014 and positive growth of one in 2013 and two in 2012. The Sooner State has 239 branches.
California
In the great five-way tie for second place, California has lost four branches so far this year. Though the Golden State lost just one branch last year, that was preceded by whopping losses of 24 and 29 in 2013 and 2012 respectively, the biggest net losses posted in this survey. But California also boasts the most total branches at 1,589.
Connecticut
With 270 branches total, Connecticut has seen a net loss of four branches so far in 2015, having lost 4 in 2014, as well. The Nutmeg State saw a net gain of one in 2013 but lost five in 2012.
Indiana
Indiana also has lost four branches in 2015 so far, following losses of three and five in 2014 and 2013 respectively. But the Hoosier State gained two in 2012. Indiana has 584 branches.
Louisiana
With 584 total branches, Louisiana has lost four so far this year, following a decline of 10 in 2014 and three in 2013. In 2012, however, the state saw a net gain of four.
Ohio
Rounding out second place is Ohio, which has seen steady declines over the last four years: down four so far this year; 13 in 2014, 20 in 2013 and 9 in 2012. The Buckeye State boasts 799 total branches.
Pennsylvania
In first place is Pennsylvania, which has lost 10 branches so far in 2015. In 2014, the state gained six, but that was preceded by losses of five and four in 2013 and 2012 respectively. The Keystone State has 1,038 branches.
Overall
According to SNL data, there are 21, 135 credit union branches in the U.S., and so far this year, the country as a whole has seen a net gain of 27 branches, having built upon 17 new branches in 2014. But the nation still has much ground to be made up, having experienced net losses of 121 and 120 in 2013 and 2012.
CUs Adding New Branches as Bank Branches Decline: SNL
Perhaps the most interesting of SNLs findings is that even as the number of credit unions is on the decline, the total number of branches has grown over the last two years, while the number of bank branches has fallen. Read more about it here .
