The World Council of Credit Unions has released its latest report, which shows the continued growth of credit union membership around the world, surpassing 260 million members in 117 countries. This is an increase from its 2016 report, which showed membership of 235 million members in 109 countries.
“This year we can celebrate as a global community. We have realized our vision of reaching 250 million members by the year 2020,” said Brian Branch, World Council president and CEO. “We see that membership growth continues to reflect the important role that credit unions have in providing economic empowerment to people worldwide.
“The three primary challenges we hear from credit unions everywhere are advocacy, disruptive technology and membership growth. For 2019, we will launch the logical next step and take on the second global challenge, which is disruptive technology. We are gearing our efforts toward digitization, including access to core services by online and mobile channels, automation of internal processes and connection to local payments and electronic ecosystems. If we want to continue growing and competing in tomorrow’s disruptive markets, we take on this challenge, make it our own and market the advantage to serve the under-served.”
The World Council of Credit Unions is the global trade association and development platform for credit unions. It promotes the sustainable development of credit unions and other financial co-operatives around the world to empower people through access to high quality and affordable financial services.
World Council reports data based on country responses to its annual survey and does not make estimates for non-reporting countries. The Statistical Report provides the most comprehensive data on the global credit union movement available and is cited widely by governments, international institutions and analysts as an expert resource.
World Council has implemented 300+ technical assistance programs in 89 countries. Worldwide, 89,026 credit unions in 117 countries serve 260 million people. Learn more about World Council’s impact around the world at www.woccu.org.