And despite losing branches, total credit union membership and deposits are both up — 4.3% and 5.4%, respectively — year-over-year.
The graph below provides two types of information: the first, credit union branch counts at the state level. Hover over a state to see the total branch count as of June 30, 2018, versus one year ago. Click on a state to see the top five credit unions in average deposits per branch. The second map shows credit union deposit market share. Click on a state to see the credit union with the highest deposit market share in that state.
Credit union deposit market share as of June 30, 2018, was 9.1%. That’s an increase of 5 basis points from this time last year. Banks and other financial institutions account for the remaining 90.9% of the market.
Credit unions in Alaska attracted 31.4% of all deposits in the state. It was the only state where credit unions broke into 30% deposit market share.
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In the continental Northwest, Idaho, Oregon, and Washington all surpassed 20.0% deposit market share, recording 27.9%, 23.3%, and 24.2%, respectively, at midyear. Other states to break this threshold include New Mexico (24.7%), Vermont (20.3%), and the District of Columbia (22.5%).
Credit union members have deposited more than $1.2 trillion in their cooperatives. That’s an annual increase of 5.4% in total deposits. Significant as this growth is, it is a deceleration from second quarter 2017, when deposit growth at credit unions was 8.1%.
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