For bank, credit union and business leaders
Fewer institutions. Higher expectations. Is your technology ready?
NostraNova brings advisory and transformation work to banks, credit unions and businesses, with a practitioner who leads it from contract to realized value.
Federally insured institutions, US, 2010 to 2025
Since 2010, more than 4 in 10 banks and credit unions have disappeared.
View chart data as a table
| Year | Banks (FDIC) | Credit unions (NCUA) |
|---|---|---|
| 2010 | 7,658 | 7,339 |
| 2011 | 7,357 | 7,094 |
| 2012 | 7,083 | 6,819 |
| 2013 | 6,812 | 6,554 |
| 2014 | 6,509 | 6,273 |
| 2015 | 6,182 | 6,021 |
| 2016 | 5,913 | 5,785 |
| 2017 | 5,670 | 5,573 |
| 2018 | 5,406 | 5,375 |
| 2019 | 5,177 | 5,236 |
| 2020 | 5,002 | 5,099 |
| 2021 | 4,839 | 4,942 |
| 2022 | 4,706 | 4,760 |
| 2023 | 4,587 | 4,604 |
| 2024 | 4,487 | 4,455 |
| 2025 | 4,336 | 4,287 |
The data
Every state lost credit unions in the last decade.
Change in the number of federally insured credit unions, 2015 to 2025. Connecticut lost the most, Tennessee the least, and not one state held steady.
- 15–19%
- 20–24%
- 25–29%
- 30–34%
- 35% or more
Steepest declines, 2015 to 2025
View all states as a table
| State | 2015 | 2025 | Change |
|---|---|---|---|
| Alabama | 113 | 89 | -21% |
| Alaska | 12 | 9 | -25% |
| Arizona | 44 | 33 | -25% |
| Arkansas | 59 | 48 | -19% |
| California | 336 | 233 | -31% |
| Colorado | 85 | 66 | -22% |
| Connecticut | 109 | 64 | -41% |
| Delaware | 22 | 15 | -32% |
| District of Columbia | 42 | 29 | -31% |
| Florida | 150 | 109 | -27% |
| Georgia | 121 | 74 | -39% |
| Hawaii | 64 | 45 | -30% |
| Idaho | 29 | 20 | -31% |
| Illinois | 269 | 177 | -34% |
| Indiana | 147 | 116 | -21% |
| Iowa | 96 | 66 | -31% |
| Kansas | 88 | 61 | -31% |
| Kentucky | 72 | 54 | -25% |
| Louisiana | 196 | 138 | -30% |
| Maine | 60 | 48 | -20% |
| Maryland | 89 | 61 | -31% |
| Massachusetts | 177 | 126 | -29% |
| Michigan | 255 | 171 | -33% |
| Minnesota | 123 | 82 | -33% |
| Mississippi | 81 | 55 | -32% |
| Missouri | 125 | 89 | -29% |
| Montana | 52 | 40 | -23% |
| Nebraska | 62 | 50 | -19% |
| Nevada | 10 | 8 | -20% |
| New Hampshire | 18 | 12 | -33% |
| New Jersey | 181 | 127 | -30% |
| New Mexico | 44 | 37 | -16% |
| New York | 376 | 272 | -28% |
| North Carolina | 79 | 57 | -28% |
| North Dakota | 38 | 29 | -24% |
| Ohio | 254 | 160 | -37% |
| Oklahoma | 64 | 53 | -17% |
| Oregon | 62 | 48 | -23% |
| Pennsylvania | 440 | 275 | -38% |
| Rhode Island | 21 | 14 | -33% |
| South Carolina | 68 | 46 | -32% |
| South Dakota | 40 | 33 | -18% |
| Tennessee | 149 | 127 | -15% |
| Texas | 475 | 381 | -20% |
| Utah | 70 | 53 | -24% |
| Vermont | 21 | 14 | -33% |
| Virginia | 147 | 95 | -35% |
| Washington | 95 | 75 | -21% |
| West Virginia | 90 | 74 | -18% |
| Wisconsin | 154 | 100 | -35% |
| Wyoming | 29 | 18 | -38% |
Steepest decline
Connecticut, −41%
109 credit unions in 2015, 64 in 2025. It's also where NostraNova helped launch a state-aligned green lending program.
Largest drop in count
Pennsylvania, −165
From 440 credit unions to 275, more than one a month for ten years.
Most resilient
Tennessee, −15%
Even the best-performing state still lost 22 institutions.
Readiness check
What does your roadmap look like?
Start with an honest read. Tick every statement that's true at your institution today, then bring your results to a 30-minute conversation.
Open items
0 / 4
Nothing ticked, which is a good place to be. A second opinion on your next major investment is still cheap insurance.
- Your results come with you into the form
- A 30-minute call, at no cost
How we help
Built in the trenches of financial services.
We work with banks, credit unions and businesses, from advisory engagements to hands-on transformation work.
Digital transformation
Requirements through training, on platforms that match how your teams actually work.
Mobile deposit capture, digital helpdesk, collaboration platforms
Systems analysis
An honest current state, a future-state architecture, and the prioritized roadmap between.
ECM vendor RFP, systems architecture review, invoice automation
Advisory & coaching
A trusted expert in the room for vendor selection, investment decisions and change.
Loan administration turnaround, platform adoption strategy
Project management
One accountable lead for your most complex implementations, from contract to go-live and beyond.
AI underwriting, loan origination, ERP modernization
Track record
20+ engagements, led from the inside.
From loan origination and AI underwriting to mobile deposit, content management and ERP migrations, NostraNova has led the projects that change how institutions serve their members and staff. The work also reaches beyond banking, into process improvement, operations and websites for small and mid-sized businesses. Every engagement is led by someone who has done the job from the inside.
See the work and meet Ron- engagements and counting
- 20+
- lending system projects
- 7+
- years of experience
- 15+