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Member growth at credit unions continued at a near record pace. Credit unions added 4.4 million new members and grew 4.1% in 2017. The member roster totaled 112,651,793 as of Dec. 31, 2017. The lion’s share of those new members joined credit unions with assets that topped $1 billion.
Regionally, Western credit unions led the nation in annual membership growth. Membership at credit unions in Alaska, Arizona, California, Guam, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington increased 6.5%.
The industry’s average member relationship — calculated by adding loans and shares less member business loans secured by 1-4 family and member commercial loans, divided by total members — increased 3.3% year-over-year and reached $18,309 in the fourth quarter. Credit unions in the Southeast had an average member relationship that was lower than other regions, but credit unions there also posted the greatest growth in this metric — 4.2% or $663 more than year-end 2016. Average member relationships increased across the nation and reached a high of $20,803 in the West.