Next release date: 31 October 2022
Published on
31 August 2022
Key points from the data:
- Despite the number of UK credit unions falling, the number of adult members increased to the highest level on record (1.93 million) as new mergers furthered market consolidation. The increase in adult membership was not reflected in the number of juvenile depositors, which fell for the ninth consecutive quarter to 209,000.
- Quarterly growth in the total value of shares held by UK credit unions increased to 1.6% in Q1 2022 after dropping to 0.7% in Q4 2021 - the lowest growth rate reported since 2016 Q4. The total value of shares held by UK credit unions now sits at £3.73 million.
- The value of loans to members increased 18.9% to £785 million in England between 2021 Q1 and 2022 Q1, compared to 12.4% in the UK as a whole over the same period.
- The total value of net liabilities in arrears in England increased 9.5% between 2021 Q1 and 2022 Q1 to £65.5 million, despite falling 0.78% in the UK as a whole over the same period.
