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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 | Dec 2013

Partial credit: The industry loses revenue as credit unions convert to banks

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
$3bn
Annual Growth 09-14
-6.0%
Annual Growth 14-19
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Profit
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Employment
6,784
Businesses
88
Industry Analysis & Industry Trends

Like the rest of Australia's Finance subdivision, credit unions have been hurt by the financial crisis and a slowing economy. However, their mutual status, prudent lending and heavy reliance on deposits for funding have shielded the industry to a large extent. Following two years of decline, industry revenue rebounded in 2010-11 due to higher interest rates. However, the exit of several industry participants and the expiry of the First Home Owner Boost dampened residential home loan growth and put further pressure on industry revenue. Credit unions were later bombarded with interest rate reductions, and 2012-13 was the industry's worst year in a decade. As a result of these conditions, industry revenue is forecast to decline at a compound annual rate of 6.0%... 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 32.5% of industry revenue, while the top four account for an estimated 40.3%. This compares with the Building Societies industry, where the top five building societies hold 89% of industry assets, and the National and Regional Commercial Banks industry, where the top four major banks hold 83% 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. In 2009, the second- and third-ranked players - Australian Central Credit Union and Savings & Loans Credit Union - merged, which greatly increased their market share... 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. Credit unions are owned by their members and provide banking services, mainly deposit taking and lending, to these same members.

Industry Products
Personal lendingReal estate lendingOther loansDeposit accounts
 
Industry Activities
Credit union operationCooperative society operation


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