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Tel: 020 7561 1786 (Multilingual advisors available)  •  Fax: 020 7272 8192  •  Email: info@credit-union.coop

Wed 16-Aug-2017
NewsAdult membership of credit unions reaches 1.1 million
Print
18 November 2015
Adult membership of credit unions reaches 1.1 million

Britain’s credit union movement has passed a new milestone, with 1.1 million adults now registered as members.

The latest figures published by the Bank of England show that in June 2015, adult membership of credit unions in England, Scotland and Wales reached 1,107,462 – an increase of 3.2% from the previous quarter. This follows on from our news, reported recently, that membership of London Capital Credit Union grew by an impressive 25% over the last year.

Savings in British credit unions were up 3.5% over the quarter to £1.13 billion, with lending up by 2.9% to more than £720 million. The movement’s assets grew by 3.4% to more than £1.32 billion.

With a further 130,659 junior savers signed up with credit unions – many through school partnerships – this means almost 1.24 million people across Britain are now using credit unions.

In fact, these new figures show that between April and June this year, an average of 376 adults joined a credit union in Britain every day.

Martin Groombridge, Chief Executive of London Capital Credit Union, said: “It is good to see that credit unions across Britain are continuing to grow, offering more services to more people. London Capital Credit Union is helping to lead the way as we expand to serve a growing number members in the capital and at organisations across the UK.”



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