As many more people discover the benefits of credit union membership, growth continues year on year.  

Membership and savings in ABCUL credit unions doubled from 2002 – 2008. Membership leapt from 262,000 to 524,000 and savings grew to over £410 million. 

 

At 30^th March 2009, credit unions in England, Scotland and Wales were providing services to over ¾ million people, more than doubling since 2000 when there were just 325,000 credit union members. 

 

According to figures from the Financial Services Authority (based on unaudited quarterly returns) there were over 655,000 adult members and over 96,000 junior savers in British credit unions in June 2008. 

 

Savings and loans in credit unions have grown at an even faster pace: in 2000, credit union members had built savings of £183 million, by 2008, this had increased to £475 million. During the same period, credit union loans increased from £175 million to £429 million. 

 

The FSA publishes annual statistics on the credit union sector. The latest available statistics are available to download.