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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 can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

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 Analysis Chapter

During the past five years, Canada's economy has struggled to gain traction since the financial collapse that sent the US economy plummeting into recession. Because Canada lacked the housing element that made the US recession unmanageable, the country experienced a slightly less drastic recession in 2009. Canadian credit unions were less affected by the recession due to their strong relationships with their members and capitalization. Although many credit unions have low membership entry standards (some even market themselves as a banking option for low-income citizens), they still perform considerable due diligence when reviewing members, which helps keep their asset base strong... 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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