Credit Union Movement
The Credit Union Movement
Credit unions have been around for longer than you might think and they largely operate under the same basic principles today, as when the first credit union was founded in Germany in the 1850s. Credit unions exist to provide responsible and affordable financial services to their communities, including those who might find themselves otherwise financially excluded.
You can find out more about our Credit Union by reading Our Story.
Credit Unions Today
- There are over 57,000 credit unions in the world, serving over 217 million members
- In Ireland, 74.7% of the economically active population are members of a credit union, it's 47.6% in the USA
- There are 365 credit unions in the UK, one for every day of the year
- Over a million British people are members of a credit union
- Credit unions in the UK hold over £1billion in savings
Credit Unions in the Future
Having only commenced in the UK some 50 years ago, credit unions are now growing quickly. Figures suggest that membership and lending have more than doubled over the last ten years and the amount of savings held by credit unions has grown even faster. More and more people are seeing the benefits of joining a credit union. Don’t miss out – come and join Barrow & District Credit Union and get all the benefits of being a member for yourself while supporting our valuable community service at the same time.
If you’re interested in finding out more about credit unions, these websites are a good place to start.
All statistics have been sourced from ABCUL and The World Council of Credit Unions.