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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 | Oct 2014

Give them credit: The industry rebounds well as interest rates are set to rise

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 10-15
-8.8%
Annual Growth 15-20
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Profit
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Employment
6,112
Businesses
82
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 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 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 8.8% over the five years through 2014-15 to reach $2.4... purchase to read more

Industry Report - Industry SWOT Analysis Chapter

The Credit Unions industry is in the declining stage of its life cycle with industry value added forecast to decline at annualised 2.8% over the 10 years through 2019-20. This is expected to be lower than the annualised GDP growth rate of 2.7% over the same period. Characteristic of a declining industry, credit unions have been exiting the industry over the past five years, with industry assets falling and employment declining. There has been little product innovation and the companies in the industry struggle to diversify into new markets. Further organic growth is limited by the structure of credit unions.

The number of credit unions is expected to fall at an annualised 5.4% to 82 over the five years through 2014-15... 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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