Credit Union annual statistics

The Bank of England published the Credit Union Annual Statistics. These statistics aggregated from the annual returns submitted by authorised credit unions in the United Kingdom.

Key points from the data:

• Total UK assets increased by 9.46% to £3.85 billion.
• Total UK value of loans outstanding at financial year end 2020 amounted to £1.58 billion, having decreased by 3.6% compared to 2019.
• 2020 saw an increase in the value and number of loans in arrears across the UK, with the average amount of arrears rising by 20.6% compared to 2019, and standing at £1,592.

Source: Bank of England