Credit Union lending passes £1bn

Latest data from the Bank of England has indicated an increase Credit Union lending, with loans to members in England passing the £1 billion mark for the first time. The figures showed that loans to members increased 5.3% quarter-on-quarter to £2.34 billion. However, the average amount in arrears grew for the 8th successive quarter, increasing…

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Record high in Credit Union lending

The Bank of England has published the 2022 Annual Statistics for the credit union sector which revealed a record level of British credit union members, as well as the highest lending amounts ever seen. There was also the steepest rise in lending on record between 2021 and 2022. Total membership for 2022 was 1.41 million,…

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Credit Union loans hit record high

New figures out this week from the Bank of England show that loans made to members of the UK’s 388 member-owned, not for profit credit unions stood at a record high of £1.92 billion in the third quarter of 2022. This was £51 million higher than the previous quarter and up £255 million compared with…

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