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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 | Mar 2016

Cashing out: The conversion of eligible credit unions to banks has reduced 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
Revenue
$2bn
Annual Growth 11-16
-15.8%
Annual Growth 16-21
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Profit
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Employment
5,722
Businesses
72
Industry Analysis & Industry Trends

Like the rest of Australia's Finance subdivision, credit unions have been hurt by the successive cash rate cuts over the past five years. As the Australian economy transitions from an emphasis on mining to non-mining sectors, the Reserve Bank of Australia has cut the cash rate to historic lows. This has had a detrimental effect on the interest income generated from credit unions' loan portfolios. Even more damaging was the effect of many credit unions exiting the industry as they converted to bank status, which led to a portion of the industry's revenue and asset base being instead reclassified to the National and Regional Commercial Banks industry. As a result, industry revenue is forecast to decline at an annualised 15.8% over the five years through 2015-16 to reach $1.7... purchase to read more

Industry Report - Industry Investment Chapter

The Credit Unions industry exhibits a low level of capital intensity. For every dollar paid as wages, an estimated $0.06 is spent on capital investment. Traditionally, credit unions have had a high degree of dependence on labour functions to deliver financial services to their members. Credit unions require 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 attempt 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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