Key points from the data:
- The value of loans issued to members surpassed the pre-pandemic peak of £1.70bn, increasing 5.2% in 2021 Q4 to £1.74bn after hitting a pandemic low of £1.59bn in 2020 Q3.
- Adult membership of UK credit unions climbed to the highest level on record, increasing 12.8% over 5 years to 1.92 million, almost a third of whom were in Northern Ireland. The number of juvenile depositors has fallen steadily since 2017, and stood at just over 212,000 in 2021 Q4, of whom almost a half were in Northern Ireland.
- The total value of net liabilities in arrears remains 16.2% higher in 2021 Q4 compared to pre-pandemic levels (2019 Q4), despite the total number of net liabilities in arrears returning to, and stabilising at, pre-pandemic levels. The average amount in arrears in 2021 Q4 was £1,570.
