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UK Credit Unions Has Reached Its Highest Reported Value At £3.98 Billion
30th April 2021
The latest quarterly report by the Bank of England shows UK Credit Unions continue to increase in strength.
The report published on 30 April 2021 showed -
Adult membership of credit unions increased in 2020 Q4 after decreasing in 2020 Q3. The total number of adult members was 1.92 million.
Total assets across the UK increased by 1.6% over 2020 Q4 and reached its highest reported value at £3.98 billion.
The value of loans to members increased for the first time in 2020. Credit union lending increased in every UK region with the total value of loans rising by 2.4% up to £1.63 billion. The largest change occurred in Wales which saw an increase of 9.9%.
Total relevant liabilities exceeded £3.0 billion for the first time on record, having increased by 2.2% across the UK in 2020 Q4.
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