MADISON, Wis. — World Council of Credit Unions has released its newest Statistical Report, which provides membership and financial data as of December 2014 from credit unions and financial cooperatives worldwide. This year’s report includes information from 57,480 credit unions serving over 217 million members in 105 countries.
The most notable global change since 2013 was in membership growth, which grew by nearly 10 million new members. Africa, Latin America and the Caribbean area were the fastest growing world regions in terms of credit union membership. Also in 2014, worldwide assets were reported at US$1.8 trillion; savings at US$1.5 trillion; loans at US$1.2 trillion and reserves at US$181 billion. New countries reporting 2014 data included Albania, Iran and the Netherlands.
“Membership growth is a priority for credit unions worldwide,” said Brian Branch, World Council president and CEO. “Our vision, as a global community, is to reach 260 million members by the year 2020.”
World Council reports data based on country responses to its annual survey and does not make estimates for non-reporting countries. The Statistical Report provides the most comprehensive data on the global credit union movement available and is cited widely by governments, international institutions and analysts as an expert resource.
World Council of Credit Unions is the global trade association and development agency for credit unions. World Council promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions’ financial performance and increase their outreach.
World Council has implemented more than 290 technical assistance programs in 71 countries. Worldwide, 57,000 credit unions in 103 countries serve 208 million people. Learn more about World Council’s impact around the world at www.woccu.org.