Credit Union membership increased by 0.46% to 2.15 million in the last quarter of 2024, the Bank of England reveals.
The latest data shows that the total value of assets held by UK Credit Unions fell by 0.79% to £4.89bn in 2024 Q4.
The BoE says this was the first quarterly fall since records began in the second quarter of 2013.
It also found that quarterly income and expenditure reported by UK Credit Unions reached record levels during the period.
Income grew by 1.40% to £114.63 million while expenditure increased 4.86% to £103.50 million quarter-on-quarter.
Interim profit fell by 22.40% to £11.13 million in Q4 driven by Credit Unions in England and Scotland, as increases in income were offset by greater increases in expenditure.
