Global membership of Credit unions rises by 10 million

6th September 2015

This year's global credit union statistical report includes information from 57,480 credit unions serving over 217 million members in 105 countries. WOCCU believes that global membership could hit 260 million members by 2020.

The headline aggregate figure for credit unions around the world are:
Total members - 217,373,324
Total assets - $1,793 billion
Total loans - $1,202 billion
Total shares - $1,471 billion
This represents growth of:

Membership - 4.54%
Assets - 3.46%
Loans - 5.89%
Shares - 2.62%

Meanwhile the PRA has published the latest quarterly figures for credit unions in the UK. The year on year growth of credit unions in the UK is:

Membership - 4.77%
Assets - 8.61%
Loans – 5.88%
Shares – 8.81%

A Credit Union in Highland is www.hi-scot.com/
HI-Scot lets people in the Highlands and Islands come together to save, and borrow money at low rates. Operated on a not-for-profit basis with surpluses being returned to members, membership of HI-Scot can also be seen as a more ethical alternative to banks and other financial institutions. The directors of Hi-Scot are all volunteers and receive no payments.
Hi-Scot Credit Union accounts can be operated via your local post office with withdrawals by phone. Soon an online service will be available. Loans up to £15,000 are available at very competitive interest rates.
Savers receive an annual dividend on their savings. One of the free benefits of savings in Hi-Scot is the free life insurance.
Well worth joining for the free life insurance that you pay for in other institutions.