Key points from the data
- Total UK assets at 30 September 2019 stood at a record £3.5bn, of which credit unions in Northern Ireland accounted for just over half, despite only accounting for around a third of the total 2.07m members.
- Total income in the year to 30 September 2019 amounted to £210.9m, of which 84% came from the interest paid by members on their loans. There has been an increasing dependency on the interest paid on loans over the years covered by this publication.
- At the end of the financial year, there were just under 582,000 loans outstanding, with an average loan amount of £2,806. Northern Irish credit unions accounted for 29% of loans, with an average loan amount of £3,767. Welsh firms accounted for only 3% of the loans, with the smallest average amount outstanding – just £1,460 per loan. English credit unions had 48% of the loans, with an average amount outstanding of £2,184.
