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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 2024
Key points from the data include:
Income increased by 27.5% to record levels in 2023, reaching £324.3 million, while corporation tax paid by UK Credit Unions rose by 216.7% to £9.9 million.
Over the same period, total liquid assets fell by 5.1% to £1242.0 million, the first-time liquidity has fallen since 2018.
Total expenditure grew by 28.3% to £250.9 million, as bad debt provisions and write offs increased by 56.6% to £58.7 million.
Loans to members increased by 21.4% to £2338.4 million, the largest year-on-year change on record, after increasing 15.7% in 2022.
