Credit unions experienced a membership growth in the second quarter. The total
number of credit union members increased to over 84.7 million, a 0.65 percent
growth from last quarter. For the past four quarters, total member growth has
increased by 2.54 percent.
At the same time, the number of potential members has dramatically increased
over the past year. This number has increased by 27.43 percent since June 2003
with a 5.59 percent jump from the first quarter of 2004. Part of this significant
growth can be attributed to many credit unions expanding to community charters.
While this expansion has not strongly affected total member growth over the
past two quarters, this may change as members of a community realize they can
join a community-chartered credit union.