Boston, MA -- (SBWIRE) -- 06/13/2014 -- Global Credit Unions industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2009-13, and forecast to 2018). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Global credit unions market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.
- Credit unions are member-owned, not-for-profit financial cooperatives that provide savings, credit and other financial services to their members.
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The members of a credit union share a common bond, such as living in the same region. Credit unions do not raise funds from sources other than their members' savings. There are no outside shareholders, and each union is run by directors elected by its members.
Cooperative banks are similar to credit unions, but members need not to share a common bond, financial products may be offered to non-members, and a certain amount of capital may be raised from sources other than savings. As a result cooperative banks are not included in this report.
Values relate to total assets held by credit unions in the relevent country at year end, whilst volumes relate to total members (customers) of credit unions.
Any currency conversions used in the creation of this report have been calculated using constant 2013 annual average exchange rates.
- The global credit unions sector had total assets of $1,648.6bn in 2013, representing a compound annual growth rate (CAGR) of 5.3% between 2009 and 2013.
- The number of members increased with a CAGR of 6.7% between 2009 and 2013, to reach a total of 211,779.2 thousand members in 2013.
- The performance of the sector is forecast to accelerate, with an anticipated CAGR of 8.9% for the five-year period 2013 - 2018, which is expected to drive the sector to a value of $2,530.4bn by the end of 2018.
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