credit union lending

Credit Union lending increased by over £250m in the past year

6th February 2025 Consumer Lending | #credit union lending

Analysis of the Bank of England’s latest data on Credit Unions from independent financial services consultancy Broadstone has demonstrated the growing demand from households for affordable credit solutions. There are 2.14 million adult members of Credit Unions in the UK as of Q3 2024, an increase of 86,543 compared to a year ago with 2.06…

Credit Unions lending increases 21.4%

1st August 2024 Alternative Consumer Lending | #credit union lending

The Bank of England’s annual update on the Credit Union sector shows that loans to members increased by 21.4% to £2.3 billion, the largest year-on-year change, after increasing 15.7% in 2022. The total number of Credit Union members also rose by 4.6% to 2.2 million while income grew by 27.5% to record levels in 2023,…

Credit Union lending passes £1bn

31st January 2024 Alternative Consumer Lending | #credit union lending

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…

Record high in Credit Union lending

14th August 2023 Alternative Consumer Lending | #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,…

Credit Union loans hit record high

6th February 2023 Alternative Consumer Lending | #credit union lending

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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