Credit Unions membership and assets continue to grow

Latest Bank of England data has shown that the total assets held by Credit Unions increased by nearly £100,000 to £4.99 billion in 2025, up 2% from the previous year.

Membership also continued to grow, increasing by 0.80% to 2.29 million members. Total income increased by 6.03% in 2025 to £444.47 million, following growth of 29.14% in 2024.

Whilst the total net liabilities of loans in arrears increased by 22.10% to £234.79 million in 2025. Provisions for doubtful debts also increased, rising by 21.02% over the same period.

Membership of Credit Unions also continued to grow in 2025, increasing by 0.8% (or around 18,000 people) to 2.29 million members.

Richard Pinch, Senior Director at Broadstone, said, “The continued growth in Credit Union membership highlights the important role the sector plays in providing a responsible alternative source of credit, particularly for people who may struggle to access affordable borrowing from mainstream lenders.

“The increase in assets to £4.99 billion should strengthen Credit Unions’ ability to support more households with accessible savings products and community-based lending.

“The member-owned Credit Union model also means that profits can be reinvested for the benefit of customers, helping to promote financial inclusion and improved financial resilience. The continued expansion of the Credit Union market should strengthen competition, maintaining pressure on lenders to offer inclusive, affordable and responsible borrowing options.”