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Credit Unions in Canada: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Credit Unions in Canada Market Research Report | NAICS 52213CA | Apr 2015

Bank on it: Consolidation and a larger asset base will allow credit unions to compete with banks

The Credit Unions market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$9bn
Annual Growth 10-15
3.8%
Annual Growth 15-20
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Profit
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Employment
51,250
Businesses
685
Industry Analysis & Industry Trends

Despite financial uncertainty and a tighter lending environment, credit unions have managed to achieve moderate growth over the past five years. Nevertheless, rising external competition is leading credit unions to consolidate, which has enabled them to reduce labour costs and take advantage of new technologies. During the next five years, consolidation will continue to help credit unions achieve economies of scale and increase their asset base. With increased size, they will be able to compete better on fee pricing and interest spreads... purchase to read more

Industry Report - Industry Investment Chapter

The Credit Union industry operates with a low level of capital intensity. IBISWorld estimates that for every $1.00 spent on wages, the industry will allocate $0.03 to capital investment. The industry relies heavily on human capital to provide products and services to its customer base. Employees in this industry range from employees working in the customer branches, helping clients to service accounts, to employees working on the back end updating technology. The updates in technology usually entail making processes more convenient through automation. Over the five-year period to 2015, the industry has become more capital intensive, processes have become automated, through automated banking machines (ABMs) and online banking platforms... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Credit Unions Industry?

This industry consists of financial institutions known as credit unions and caisses populaires. These institutions are member owned and provide banking services, mainly deposit taking and lending, to these same members.

Industry Products
Residential mortgagesConsumer loansBusiness loansCommercial loans
 
Industry Activities
Accepting members' share depositsOffering members consumer loans


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