Adult credit union membership in the UK grew by 4.32% over the 12 months to September 2015, according to new figures from the Bank of England. The number of juvenile depositors increased by 1.71%.
However the quarterly statistics also show that membership growth slowed overall in the third quarter of 2015, with a net increase of 337 new adult members between July and september, compared with 67,731 new members in the whole of the previous 12 months.
Adult membership increased in England by 1,669 and Northern Ireland by 1,715, but this was offset by decreases in Scotland (-996) and Wales (-2,051, 3.22% of Wales’ entire adult credit union membership).
Total UK credit union assets increased by 188.7m (7.19%) for the 12 months to September, showing a rise of £47m (1.7% for the quarter). Assets in Wales increased by 14.7% over 12 months, and 4.6% over the quarter.
The number of net liabilities in arrears for credit unions decreased by 4.1 million (-8.59%) across the UK over the quarter – a total value of £3.9m (-7%).