Credit unions reach a million members

Credit unions, financial member-owned co-operatives, are celebrating news that there are now over 1 million members.

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ABCUL representing credit unions in Great Britain

Figures from the Prudential Regulation Authority show that over 1 million people are now full adult members of credit unions.

At the end of June 2013, 1,006,269 people were members of credit unions – a rise of over 6% from March 2013.  Savings and assets in credit unions also grew by over 5% in the same six month period.

When credit unions in Northern Ireland are taken into account, credit unions also broke through another significant barrier with 1.5 million members in credit unions in the United Kingdom.