The Bank of England has published its annual credit union statistics covering 2025, which finds that total assets held by UK credit unions rose by nearly £100,000 to £4.99bn in 2025, up 2% from the previous year.
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 leading independent banking and credit advisory consultancy 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.
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“The increase in assets to £4.99bn 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.”
