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 can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

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 Investment Chapter

The Credit Unions industry has a low level of capital intensity. For every dollar spent on capital a further $12.76 is spent on labour. Traditionally, credit unions have delivered financial services to their members manually. 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
Credit union operationCooperative society operation

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