Facts and Statistics

Scale of the Credit Union Sector

At the end of September 2022, the British credit union sector had:

  • 246 credit unions across England, Scotland and Wales
  • Over 1.44 million people using credit unions, including over 100,000 junior depositors
  • Total assets of £2.46 billion
  • Total loans of £1.35 billion
  • Total deposits of £2.12 billion

Source: Bank of England Credit Union Quarterly Statistics Q4 2022

Growth of the Credit Union Sector

In the year from September 2021 to September 2022, the sector saw the following growth:

  • Membership by +2.2%
  • Assets by +7.7%
  • Loans by +19.4%
  • Deposits by +8%

Source: Bank of England Credit Union Quarterly Statistics Q4 2022

Between 2014 to 2022, the sector:

  • Increased in membership and loans by 20% and 67% respectively
  • Increased in deposits and assets by 84% and 81% respectively

Source: Bank of England Credit Union Annual Statistics 2021

International

While credit unions in Britain remain relatively small, internationally there are:

  • Active credit union sectors in 118 countries with 87,914 credit unions
  • More than 393 million credit union members
  • Assets of over $3.4 trillion
  • Loans of over $2.1 trillion
  • Deposits of over $2.9 trillion

High penetration rates in many developed countries:

  • 61% in USA
  • 43% in Canada
  • 31% in Australia

Source: WOCCU Statistical Report 2021