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

Wed 16-Aug-2017
NewsCo-operatives in the UK are thriving
Print
16 June 2016
Co-operatives in the UK are thriving

London Capital Credit Union is part of a global movement of co-operative businesses which are owned and controlled by their members. A new report from Co-operatives UK, the organisation which represents co-operatives in the UK, shows that one third of the UK adult population are now members of a co-operative.

Membership of co-operatives has reached a record 17.5 million people, having surged by more than 14% over the last five years. The report also finds that co-operatives employ 223,000 people across the country and contribute over £34 billion a year to the economy.

The report recognises the significant role the credit union movement has played in the growth of the wider co-operative sector. British credit union membership has doubled over the last decade to more than 1.2 million, while the sector’s assets have trebled to more than £1.3 billion.

Chief Executive of London Capital Credit Union, Martin Groombridge, said: “It is great to see that the co-operative economy is looking healthy and it is good news that there has been a surge in the number of people who own and control the UK’s co-operatives.

“Co-operatives exist in all parts of the economy, from high street shops and cafés to manufacturers and agricultural suppliers, and it is thanks to successful co-operative businesses like London Capital Credit Union that the co-operative sector is growing so strongly.”

You can read the co-operative economy 2016 report here.


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