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US credit unions grow number of branches

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US credit unions grow number of branches

U.S. credit unions opened 107 branches and closed 65 during the fourth quarter of 2019, according to S&P Global Market Intelligence data.

As of Dec. 31, 2019, there were 21,428 operating credit union branches in the country.

Vienna, Va.-based Navy FCU opened a net 12 branches during the quarter, the most among all U.S. credit unions. Meanwhile, Lone Tree, Colo.-based Canvas CU and Biloxi, Miss.-based Keesler FCU each had three net openings.

As for closures, Virginia Beach, Va.-based Chartway FCU, Dayton, Ohio-based KH Network CU, Miramar, Fla.-based Tropical Financial CU, Rye, N.Y.-based USAlliance FCU and Cranberry Township, Pa.-based USX FCU each closed a net two branches during the quarter.

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Michigan saw the most net openings during the quarter at nine, followed by California, Illinois and Louisiana, with four apiece.

Tennessee lost a net three branches, the most of any state, followed by Missouri with two net closings.

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