Up until the recession in 2008, the number of credit union branches steadily increased. Like all financial institutions, credit unions faced tightening margins during the Great Recession and consolidating struggling branches was one way to keep costs at a manageable level.
The number of credit union branches peaked in 2010, when the industry maintained 21,431 branches. The next year, 2011, the total number of branches only fell by 2. In 2012, the number of branches dropped to 20,995, down 2.0%, or 434 locations, from year-end 2011.
TOTAL CREDIT UNION BRANCHES OVER TIME
DATA AS OF DECEMBER 31, 2012
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