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

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 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 Key Buyers Chapter

The level of concentration in the industry is medium. IBISWorld estimates that the two largest companies share 34.3% of industry revenue, while the top four account for an estimated 42.1%. This compares with the Building Societies industry, where the top five players hold 89% of industry assets, and the National and Regional Commercial Banks industry, where the top four major banks hold 84.7% of domestic banking assets. The Credit Unions industry has, however, been undergoing consolidation for many years, and there is no sign of this process abating.

Over the past five years, several credit unions were reclassified as mutual banks and exited the industry classification, according to APRA. This has increased the level of industry concentration... 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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