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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 | May 2014

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
$17bn
Annual Growth 09-14
0.6%
Annual Growth 14-19
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Profit
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Employment
43,973
Businesses
709
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 - Starting a New Business Chapter

The Credit Unions industry has moderate barriers to entry for new participants. An organization must receive prior approval from the government in the province where it plans on operating. For example, credit unions planning to operate in British Columbia must receive approval from the Financial Institutions Commission (FICOM). FICOM is responsible for administering the Credit Union Deposit Insurance Corporation, which protects credit union members against the loss of deposits. Additionally, the Federal Office of the Superintendent of Financial Institutions oversees credit unions. Finally, an organization requires a significant amount of capital to launch a network of branches and ABMs. Furthermore, it must have reliable channels to gain funding to make personal and commercial loans... 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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