There are 20,550 credit union branches for 6,896 credit unions nationwide as of March 2013, down 2.4% from a year prior. The decrease in number of branches is attributed to the increase in not only the number of mergers but also credit unions’ efforts to expand their virtual networks, such as online banking and mobile applications.
As of March 2013, 37 states had fewer branches than a year prior. Texas has lost the largest number of branches over the past year, bringing down the total from 1,867 to 1,703 branches. Florida came in second with 139 branch losses over the same period, down 12.4% from the previous year.
Arkansas and Arizona saw the largest percentage decline at 34.0% and 29.3% respectively. Meanwhile, North Dakota and Wisconsin experienced the largest branch growth, at 26.0% and 10.8% respectively. The growth in North Dakota is due to the oil boom in the area which has led to population and job growths, while Wisconsin benefited from the rising leisure and hospitality industries.
Roll over states to see the changes in number of branches from last year, number of branches as of March 2013, and % branch growth/decline.
CHANGES IN NUMBER OF BRANCHES OVER THE PAST YEAR
Data As of March 31, 2013
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