The NAFCU Journal March-April 2020 - 9

These trends also mean that credit unions are playing a
larger role in providing branch services to underserved areas,
98 percent of which are rural. Among older branches, credit
unions account for 13 percent of total branches in those areas;
but that figure jumps to 31 percent for branches built more
recently. NAFCU has long argued that all credit unions should
be eligible to add underserved areas to their fields of membership, regardless of their charter type. Given the lack of interest
shown by banks for meeting the needs of those communities, as well as the demonstrated appetite for credit unions to
expand into those areas, Congress should act to ensure that all
credit unions have the ability to serve underserved areas.

Recent Credit Union Experience in Rural Areas

Given the broad struggles of many rural areas, they may not
appear to be an inviting area for growth for a financial institution.
Table 2 shows the median member growth among credit unions
by asset class and metro area concentration. Perhaps surprisingly, rural credit unions (those with less than 25 percent of their
branches in an MSA) have grown more quickly than urban ones
(those with more than 75 percent of their branches in an MSA) at
the median. This is true of both asset classes below $500 million.
While it is rarer for a larger credit union to be situated predominantly in rural areas, there are a growing number that lie in
between the two extremes, with between 25 and 75 percent of
their branches outside of an MSA. These "mixed" credit unions
are experiencing the strongest growth rates of any category for
all but the very largest credit unions. It may be that as other institutions pull out of rural areas, growth opportunities could
be created for many credit unions.

prospects for those communities. But given the success many
credit unions have found recently despite some significant
headwinds, rural America may yet prove to be fertile territory
for the credit union industry.

As credit unions consider whether to increase their focus on
rural areas, they will have to carefully assess the long-term

Curt Long is NAFCU's chief economist and vice president
of research.

Index to Advertisers

CUNA Mutual Group
Website: www.cunamutual.com/Life..............................C2
Website: www.cunamutual.com/TruStage..................... 15

AdvantEdge Analytics
Phone: 888-258-0011
Website: www.advantedgeanalytics.com....................... 25

CU Direct
Website: www.origence.com........................................... 11

Allied Solutions
Phone: 800-826-9384
Website: www.alliedsolutions.net...................................C3

Amazon Web Services
Website: www.aws.amazon.com/financial-services/ .33

THE NAFCU JOURNAL  MARCH-APRIL 2020

DefenseStorm
Phone: 206-512-8691
Website: www.defensestorm.com .................................... 2

NAFCU
Phone: 800-344-5580
Website: www.nafcu.org/success................................... 35
Website: www.nafcu.org/compliance-net..................... 39
Pentegra
Phone: 800-872-3473
Website: www.pentegra.com .......................................... 17

Gallagher
Website: www.nafcu.org/gallagher................................ 31

PSCU
Phone: 844-367-7728
Website: www.pscu.com .................................................... 5

Mastercard
Website: go.mastercardservices.com/nafcu................ BC

Q2
Website: www.q2ebanking.com....................................... 19

9


http://www.cunamutual.com/Life http://www.cunamutual.com/TruStage http://www.nafcu.org/success http://www.nafcu.org/compliance-net http://www.origence.com http://www.advantedgeanalytics.com http://www.pentegra.com http://www.defensestorm.com http://www.alliedsolutions.net http://www.pscu.com http://www.nafcu.org/gallagher http://www.aws.amazon.com/financial-services/ http://go.mastercardservices.com/nafcu http://www.q2ebanking.com

The NAFCU Journal March-April 2020

Table of Contents for the Digital Edition of The NAFCU Journal March-April 2020

The NAFCU Journal March-April 2020 - Cover1
The NAFCU Journal March-April 2020 - Cover2
The NAFCU Journal March-April 2020 - 1
The NAFCU Journal March-April 2020 - 2
The NAFCU Journal March-April 2020 - 3
The NAFCU Journal March-April 2020 - 4
The NAFCU Journal March-April 2020 - 5
The NAFCU Journal March-April 2020 - 6
The NAFCU Journal March-April 2020 - 7
The NAFCU Journal March-April 2020 - 8
The NAFCU Journal March-April 2020 - 9
The NAFCU Journal March-April 2020 - 10
The NAFCU Journal March-April 2020 - 11
The NAFCU Journal March-April 2020 - 12
The NAFCU Journal March-April 2020 - 13
The NAFCU Journal March-April 2020 - 14
The NAFCU Journal March-April 2020 - 15
The NAFCU Journal March-April 2020 - 16
The NAFCU Journal March-April 2020 - 17
The NAFCU Journal March-April 2020 - 18
The NAFCU Journal March-April 2020 - 19
The NAFCU Journal March-April 2020 - 20
The NAFCU Journal March-April 2020 - 21
The NAFCU Journal March-April 2020 - 22
The NAFCU Journal March-April 2020 - 23
The NAFCU Journal March-April 2020 - 24
The NAFCU Journal March-April 2020 - 25
The NAFCU Journal March-April 2020 - 26
The NAFCU Journal March-April 2020 - 27
The NAFCU Journal March-April 2020 - 28
The NAFCU Journal March-April 2020 - 29
The NAFCU Journal March-April 2020 - 30
The NAFCU Journal March-April 2020 - 31
The NAFCU Journal March-April 2020 - 32
The NAFCU Journal March-April 2020 - 33
The NAFCU Journal March-April 2020 - 34
The NAFCU Journal March-April 2020 - 35
The NAFCU Journal March-April 2020 - 36
The NAFCU Journal March-April 2020 - 37
The NAFCU Journal March-April 2020 - 38
The NAFCU Journal March-April 2020 - 39
The NAFCU Journal March-April 2020 - 40
The NAFCU Journal March-April 2020 - Cover3
The NAFCU Journal March-April 2020 - Cover4
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