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Credit Unions in Australia: Market Research Report

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

Credit Unions Market Research Report | ANZSIC K6223 | May 2015

Underrated: Successive rate cuts by the RBA have hurt industry revenue

IBISWorld’s Credit Unions market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 10-15
-10.4%
Annual Growth 15-20
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Profit
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Employment
6,037
Businesses
81
Industry Analysis & Industry Trends

Like the rest of Australia's Finance subdivision, credit unions have been hurt by the global financial crisis and the slowdown in the economy in 2008-09. Their mutual status, prudent lending and heavy reliance on deposits for funding have shielded the industry to some extent, but the past five years have been difficult nonetheless. As the Australian economy transitions from an emphasis on mining to non-mining sectors, the Reserve Bank of Australia has cut interest rates to historic lows. This has negatively affected revenue generated from lending portfolios. Even more detrimental was the effect of credit unions leaving the industry and taking portions of the revenue and asset base with them. As a result, industry revenue is forecast to decline at an annualised 10.4%... purchase to read more

Industry Report - Industry Investment Chapter

The Credit Unions industry has a low level of capital intensity. For every dollar spent on capital a further $14.55 is spent on labour. Traditionally, credit unions have had a high degree of dependence on labour functions to deliver financial services to their members. This required employing a large number of knowledgeable staff to cater for members' needs, process loans and undertake other administrative tasks. For these reasons, labour has traditionally been a significant cost component for the industry. Credit unions typically have a smaller technology budget than the national and regional commercial banks. However, with the quick pace at which new technology develops, credit unions will be able to narrow the technological gap with banks... 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
Mortgage lendingPersonal lendingCommercial lendingDeposit accounts


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