ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » Credit unions in the U.S. have been witnessing a steady increase in membership since 2010. Average annual membership growth has been approximately 4 percent in the last four years. On the contrary, the deposit growth has shown a decline since Q3 of 2016. The deposit growth rate was recorded at 4.87 percent in Q3 of 2018 compared to 8.44 percent in Q3 of 2016.Around 40 percent of U.S. credit unions have reported a decline in deposits in 2018, which amounted to approximately $3 billion on a year-over-year basis. (To find more about declining deposits, read “Are Credit Unions Over-Extended Again? Impressive loan growth, alarming deposit growth.”)Focusing on increasing deposits is essential for sustainable and profitable growth strategies. With increases in the federal funds rate in recent years, achieving adequate deposit growth is the best way to manage the rising cost of funds. This allows credit unions to offer cheaper loans to their members using their own funds.