Like the rest of Australia's Finance subdivision, the Credit Unions industry has 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 credit unions to a large extent. Following two years of decline, industry revenue rebounded in 2010-11. However, this was followed by a series of quarterly declines in revenue. This is partly attributable to the exit of several industry participants and the expiry of the First Home Owner Boost dampening residential home loan growth.
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.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.