Credit Unions in Australia: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Credit Unions Market Research Report | ANZSIC K6223 | Jun 2014

Maxed out: Low interest rates and competition from banks reduces industry revenue

The Credit Unions market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Industry Statistics & Market Size
Annual Growth 09-14
Annual Growth 14-19
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Industry Analysis & Industry Trends

Like the rest of Australia's Finance subdivision, credit unions have been hurt by the global financial crisis and a slowing economy. Their mutual status, prudent lending and heavy reliance on deposits for funding have shielded the industry to a large extent, but the past five years have been difficult nonetheless. As the Australian economy transitions from mining to non-mining sectors, the Reserve Bank of Australia has dropped interest rates to historic lows. This decimated the revenue generated from lending portfolios. Even more detrimental was the effect of credit unions leaving the industry and taking portions of revenue and asset base with them. As a result, industry revenue is forecast to decline at an annualised 7.1% over the five years through 2013-14 to reach $2.9 billion... purchase to read more

Industry Report - Industry Locations Chapter

Credit unions have close to 631 branches throughout Australia. Some of the large credit unions are expanding their branch networks beyond traditional locations. For example, before the two entities merged to form People's Choice Credit Union, South Australia-based Savings & Loans Credit Union expanded into Melbourne, while the Australian Central Credit Union expanded beyond its regional network into metropolitan Adelaide.

The geographical spread is based on data released by APRA. New South Wales is by far the largest credit union region, accounting for 44.9% of all branches. Several credit unions have their main operations in this state, which bolsters this market. The state has the largest population and a number of community and occupational type credit unions... purchase to read more


Industry ProductsRelated ReportsTable of Contents

What is the Credit Unions Industry?

This industry consists of financial institutions known as credit unions or cooperatives, which are owned by their members and provide them with banking services, mainly deposit taking and lending.

Industry Products
Personal lendingInvestment mortgagesOwner-occupied mortgagesCommercial lendingDeposit accounts
Industry Activities
Credit union operationCooperative society operation

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