Key points from the data:
- The number of adult members of UK Credit Unions grew by 1.3% in 2023 Q1 to surpass 2 million for the first time.
- The total value of net liabilities in arrears grew by 10.0% to £139.8 million in 2023 Q1, this represents a 35.9% increase compared to the pandemic low of £102.8 million.
- The total assets held by UK Credit Unions increased by 1.0% in 2023 Q1 reaching £4.6 billion.
- Interim profit increased by 22.3% to £12.2 million in 2023 Q1, after falling by 28.3% in the previous quarter. The increase was driven by a 4.3% fall in total expenditure to £58.4 million, which offsets a 0.5% decline in total income to £70.6 million.
