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 is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Industry Statistics & Market Size
Annual Growth 10-15
Annual Growth 15-20
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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 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 - Starting a New Business Chapter

Barriers to entry in the Credit Unions industry are high. The regulatory requirements imposed on potential entrants, the difficulty in accessing funds, the presence of credit unions' branch networks in potential markets and the difficulty in attaining and retaining a loyal customer base are all barriers to entry.

The regulatory requirements imposed on credit unions and any potential businesses wanting to enter the industry are highly stringent. This makes it difficult for new entrants to set up operations and compete successfully. Furthermore, because of the global financial crisis, the industry's regulatory framework is set to become more complex as the government introduces legislative changes to prevent future crises, which will no doubt affect the industry... 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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