Growth in the Credit Unions industry over the five years to 2014 was primarily due to federal grants and the influx of credit union members, helping to counteract some of the negative affects of the recession. Since the recession, banks have severely restricted the amount of loans they distribute, allowing credit unions to step in and fill this void. Additionally, federal grants used to prevent corporate credit unions from failing, as a result of the recession, helped revenue to stay positive in 2009. Revenue for the industry is expected to continue rising over the five years to 2019, due to increased membership as credit unions expand lending. However, as commercial banks continue to recover, competition for these loans will be strong.
This industry comprises financial institutions known as credit unions or cooperatives. Credit unions are member-owned and provide banking services, which primarily include deposit taking and lending, to these same members.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.