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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

IBISWorld’s Credit Unions market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

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 - Industry Key Buyers Chapter

The Credit Unions industry is comprised of a few large institutions and a large number of smaller firms serving local areas. As a result, market share concentration within the industry is low, with the top four companies accounting for less than 35.0% of industry revenue according to IBISWorld estimates. While the industry does have a large player in Desjardins, the majority of companies are small looking to serve local communities. However, this trend has been changing and as a result industry market share concentration has become greater over time. The larger credit unions continue to get larger while the smaller credit unions cease to exists or get acquired. Over the five years to 2014, industry enterprises has declined at an average annual rate of 5.6% to 630... 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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