The global credit union movement grew by an additional 10 million members in 2014, according to countries that responded to World Council of Credit Unions' annual Statistical Report survey.
As of December 31, 2014, 57,480 credit unions in 105 countries worldwide served more than 217 million people, the Madison, Wis.-based trade association reported this week. Those figures are up from 57,000 credit unions in 103 countries serving 208 million people in 2013. Albania and the Netherlands were new countries responding to the survey this year.
The data indicates an 8.2% global credit union penetration, up from 8.06% in 2013. The 2014 figures also show a $1.7 trillion in aggregate savings and shares, and $1.2 trillion in loans, up from $1.4 trillion and $1.1 trillion, respectively.
Globally, credit unions posted $1.8 trillion in assets and $181 billion in reserves for 2014. This compares favorably to the $1.7 trillion and the $171 billion, respectively, reported for 2013.
In terms of membership, the U.S. ranks first with 100,513,991 members served as of December 2014. India, in second place, has an estimated 20 million members, while Canada ranks third with 10,120,994 members.
"Membership growth is a priority for credit unions worldwide," WOCCU President/CEO Brian Branch said. "Our vision, as a global community, is to reach 260 million members by the years 2020."
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