Minnesota Credit Unions Demonstrate Financial Stability and Growth

​According to National Credit Union Administration’s (NCUA) Quarterly U.S. Map Review, Minnesota credit unions experienced solid performance along key indicators, including median annual asset growth, median annual and deposit growth, membership growth and positive year-to-date net income during the second quarter of 2022. Highlights of the Quarterly Map Review include:

• With $37 billion in assets, Minnesota credit union assets grew 6.9% above the median annual growth rate of  4.2.2%.
• Membership at Minnesota credit unions grew 0.5% in median year-over-year member growth, ranking 13th in the nation and above the national average of -0.4%. 
• Annual deposit growth was 7.7%, ranking 7th nationally.
• 96% of Minnesota Credit Unions had positive year-to-date net income, ranking third in the nation.

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According to the NCUA, credit unions in Minnesota are now serving nearly 2.1 million members. ​In 2019, MnCUN embarked on a goal to increase the percentage of Minnesotans belonging to a credit union to 50% by 2030. MnCUN analysis of NCUA shows that credit union membership continues to increase, and as of June 2022, is 35.5%.