Facts and Statistics

Scale

At the end of March 2020, the British credit union sector had:

  • Around 277 credit unions across England, Scotland and Wales employing more than 1,700 staff
  • 1,428,641 people using credit unions, including 129,591 junior depositors
  • Total assets of £1.82 billion
  • Total loans of £1.1 billion
  • Total deposits of £1.54 billion
  • Annual turnover of £137 million (year to March 2020)

Sources: PRA unaudited quarterly figures for March 2020

Growth

In the year to March 2020, the sector grew:
  • Membership by 2.8%
  • Assets by 9.6%
  • Loans by 9.2%
  • Deposits by 7.4%
  • Turnover by 12.9%

Source: Bank of England Quarterly Credit Union Statistics March 2020

In the decade from 2010 to 2019, the sector:

  • Increased in membership and loans by 60% and 98% respectively
  • Increased in deposits and assets by 126% and 130% respectively

Source: PRA audited, 2019 annual figures and ABCUL

Note:  Annual figures are not available until July the year after. 

International

While credit unions in Britain remain relatively small, internationally there are:
  • Active credit union sectors in 118 countries with 85,400 credit unions
  • More than 270 million credit union members
  • Assets of over $2.1 trillion
  • Loans of over $1.6 trillion
  • Deposits of over $1.8 trillion

High penetration rates in many developed countries:

  • 55% in USA
  • 42% in Canada
  • 26% in Australia

Source: WOCCU Statistical Report 2018

WOCCU’s full annual statistical report is available here.