Facts and Statistics

Scale

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

  • Around 250 credit unions across England, Scotland and Wales
  • 1,427,288 people using credit unions, including 103,436 junior depositors
  • Total assets of £2.39 billion
  • Total loans of £1.23 billion
  • Total deposits of £2.06 billion
  • Annual turnover of £190 million (Q2 2021-Q2 2022)

Source: Bank of England Credit Union Quarterly Statistics Q2 2022

Growth

In the year June 2021 to June 2022, the below figures increased

  • Membership by +0.69%
  • Assets by +8.46%
  • Loans by +19.26%
  • Deposits by +8.82%
  • Turnover by +6.04%

Source: Bank of England Credit Union Quarterly Statistics Q2 2022

In the decade from 2011 to 2020, the sector:

  • Increased in membership and loans by 41% and 71% respectively
  • Increased in deposits and assets by 135% and 127% respectively

Source: Bank of England Credit Union Annual Statistics 2020 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 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

WOCCU’s full annual statistical report is available here.