Credit Union Assets Reach £4.99 Billion, Membership Grows to 2.29 Million
The Bank of England has released its annual credit union statistics for 2025. The report shows that total assets held by UK credit unions rose to £4.99 billion, a 2% increase from the previous year.
This growth in assets is accompanied by an increase in membership, with 18,000 new members joining credit unions in 2025, bringing the total number of members to 2.29 million.
Richard Pinch, senior director at Broadstone, highlights the importance of credit unions in providing a responsible alternative source of credit for people who may struggle to access affordable borrowing from mainstream lenders.
The growth in assets and membership is seen as a positive development, strengthening credit unions' ability to support households with accessible savings products and community-based lending. The member-owned credit union model allows profits to be reinvested for the benefit of customers, promoting financial inclusion and improved financial resilience.