Credit union membership growth slowed slightly to 3.7% in April, NAFCU reported in its Economic and CU Monitor, which was released Tuesday.
At the same time, share growth remained strong, reaching 7.1% in April, NAFCU said.
The trade association reported, however, that the credit union community continues to lose an average of one institution per day through merger or liquidation.
The overall industry remained strong, with CAMEL 4 and 5 credit unions representing only 0.8% of total insured shares—a smaller level than prior to the financial crisis.
Estimated year-over-year loan growth slowed to 9.4%, based on NAFCU's survey of credit unions. Credit card and vehicle sales, as well as first mortgages slowed, while other real estate sales continued to grow.
Credit union delinquency rates fell by an estimated two basis points in April, to 0.69%, a figure in line with pre-recession figures. Delinquencies rose for new vehicle and first mortgages, and declined in credit card, used vehicles and other real estate loans.
The survey also found that credit unions are working with members on those delinquencies, with 80% of credit unions saying they have waived late fees, interest or fines because of a member hardship during the past year. And 33% forgave debts to one or more members during the year.
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