Key points from the data
- Total UK assets increased by 9.46% to £3.85 billion. Northern Ireland continues to account for almost half (49.3%) of UK credit union total assets but England saw the largest relative increase, rising by 14.8%.
- Total UK value of loans outstanding at financial year end 2020 amounted to £1.58 billion, having decreased by 3.6% compared to 2019. England was the only region to report an increase in value of loans outstanding at the financial year end, having risen 2.4%.
- 2020 saw an increase in the value and number of loans in arrears across the UK, with the average amount of arrears rising by 20.6% compared to 2019, and standing at £1,592. There is significant regional variation in this figure, with Wales showing an average of £917 in arrears and the amount for Northern Ireland standing at £2,901.