The total number of credit union branches nationwide increased for a second consecutive year after experiencing two previous years of declines, according to a new analysis from SNL Financial.

As of July 30, there were 27 more branches opened than closed in the U.S in 2015. In 2012 and 2013 combined the industry lost a net of 241 branches, SNL said.

However, that was not true for Massachusetts, which saw a net loss of one credit union branch, bringing the Bay State’s total number of credit union branches to 500, according to SNL. Massachusetts gained one credit union branch last year and two in 2013 and lost two in 2012.

Minnesota topped SNL’s list, gaining eight credit union branches so far this year, bringing its total to 395; Florida gained six branches, totaling 1,000; and Kansas and Michigan each gained five branches, totaling 245 and 1,026 in those states, respectively. Pennsylvania lost the most credit union branches, declining by 10 branches to 1,038 statewide.

Texas still boasts the most credit union branches of any state, which total 1,632 in the Lone Star State.

SNL: CU Branches On The Increase Nationwide

by Banker & Tradesman time to read: 1 min
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