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US credit unions open a net 22 branches in Q3

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US credit unions open a net 22 branches in Q3

U.S. credit unions opened 77 branches and closed 55 during the third quarter, according to S&P Global Market Intelligence data.

As of Sept. 30, 21,364 credit union branches were operating in the country, up 88 from a year earlier.

Saint Joseph, Mich.-based United Federal CU added three branches during the quarter, the most among all credit unions. A handful of credit unions followed with two net openings each.

Farmington Hills, Mich.-based Community Choice CU closed a net nine branches during the quarter, the most of any U.S. credit union, followed by Loves Park, Ill.-based Rock Valley CU, which closed three locations.

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Indiana saw the most net openings during the quarter, with seven, followed by California and Michigan, with four apiece.

Illinois lost a net six branches, the most of all states, followed by Virginia with four net closings.

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Click here for a refreshable template containing data on credit union branch openings and closings.