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The credit union annual statistics are statistics aggregated from the annual (CY) returns submitted by authorised credit unions in the United Kingdom.
Published on
31 July 2020
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.