Membership at U.S. credit unions increased 4.4% from June 30, 2017, to June 30, 2018. In total, the movement added 4.9 million members.
What Is AMR?
(Average $ Savings) + (Average $ Loans - Business Loans) = Average Member Relationship
But credit unions didn’t just add members, they also deepened member relationships. The average member relationship for all credit unions in the United States was higher in the second quarter of 2018 than it has ever been. Based on early performance data derived from 5300 filings, Callahan & Associates predicts the average member relationship reached $18,681 as of June 30, 2018. That’s a 2.9% year-over-year increase.
First mortgage lending and auto lending together helped drive that increase. They collectively accounted for 76.1% of the entire loan portfolio and were the only loan products whose share of the portfolio increased in the past year.
Real estate and auto lending dominate the industry’s loan portfolio.
On the other side of the coin, regular shares accounted for the largest component, 36.6%, of the share portfolio. Regular shares and share certificates were the only categories whose piece of the portfolio increased in the past year.
Core deposits comprise 73.9% of the total share portfolio.
Overall, loan growth outpaced share growth by 4.3 percentage points, according to early data analysis from Callahan & Associates. However, members held more accounts and balances in deposit products.
Loan accounts per member increased slightly to 0.58. On the deposit side, members held 1.9 share accounts on average.