Credit unions are mutually organized depository institutions that provide financial services to their members. Like banks and savings associations, credit unions seem to be consolidating. Their numbers fell from 12,596 in 1992 to 10,479 at mid-2000. However, their total assets rose nearly 65% over the same period, from $258.4 billion to $426.8 billion. The number of credit union members also increased steadily from 61.4 million in 1992 to 76.7 million at the end of 2000:IIQ.
Suggested citation: "Credit Unions," Federal Reserve Bank of Cleveland, Economic Trends, no. 01-02, pp. 16-17, 02.01.2001.