US Credit Unions Close Net 10 Branches in Q3

U.S. credit unions opened 55 branches in the third quarter and closed 65, bringing the industry's total number of active branches to 20,250 as of Sept. 30.

Eleven credit unions posted one or more net openings in the third quarter, including Portland, Ore.-based OnPoint Community CU, which opened seven branches. OnPoint was the biggest net opener in the previous quarter as well, with eight net openings.

At the other end of the spectrum, two credit unions had two net closures apiece in the quarter: Lenexa, Kan.-based CommunityAmerica CU and Gainesville, Fla.-based Radiant CU.

At the state level, Oregon had the highest number of branch openings at seven, all from OnPoint. Meanwhile, Florida's four net closures led the country.

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