MADISON, Wis. — If January's membership gains are any indication, convenient credit union branches and other access channels, product and service selection and competitive pricing may continue to be key drivers of growth within the industry.
CUNA Mutual Group is expecting those factors to help credit unions to increase their membership numbers in 2008, according to its March edition of Credit Union Trends Report. An estimated net 224,000 members joined credit unions in January. Current estimates show the total membership count hovering right near 90 million, up 1.9 million over January 2007.
Still, an accurate count of members is dicey given a number parameters that could sway estimates, said Dave Colby, chief economist at CUNA Mutual and author of the report.
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