CHEYENNE, Wyo. (8/22/14)--The credit union movement continues to celebrate reaching its 100 million memberships milestone, and Wyoming's high concentration of credit union members caught the eye of Wyoming Business Report.
Roughly 40% of the Equality State's population is a credit union member, significantly higher than the national total, which equates to one-third of the U.S. population.
"This is a testament to the long-standing principles that guide credit unions, namely that they put members first and operate in a manner to reflect that philosophy," said Scott Earl, president/CEO, Mountain West Credit Union Association (MWCUA). "It's apparent that this principle is working."
Wyoming credit unions added 1,400 members in the first quarter, bringing total membership to 230,000.
Wyoming's membership growth has climbed at a continuously fast clip--to 3.47% in 2013 from 2.91% in 2011--above the national growth rate of 2.9%
"It's much higher than a lot of the other states that we see," MWCUA Director of Corporate Communications Patti Hazlett told Wyoming Business Report (Aug. 7).