Global Credit Union Sector Trends
The World Council of Credit Unions (Woccu) has released its latest report, indicating a 10% decrease in the overall number of credit unions due to the ongoing trend of mergers and acquisitions.
As of December 31, 2024, there were 67,137 credit unions worldwide, down from 74,634 the previous year. Despite this, the number of credit union members increased by 0.4% to 412,681,905, and credit union assets rose by 2% to $3.8 trillion.
According to Woccu, the slower growth in membership and assets can be attributed to improvements in its data collection methods.
The trend of consolidation continues to shape the global credit union sector.
Author's summary: Credit unions decline by 10% due to consolidation.