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 SWOT Analysis Chapter
The Credit Unions industry is in the mature stage of its life cycle, which is evident through its slightly below-average contribution to the economy, increasing industry consolidation and moderate rate of technological change. In the 10 years to 2019, industry value added (IVA), which measures the industry's contribution to GDP, is forecast to increase at an average annual rate of 1.3%. This rate indicates that the industry is expected to grow at a slower pace than the overall economy, which is projected to increase at an annualized rate of 2.4% over the same 10-year period.
Over the past five years, credit unions and caisses populaires have invested considerable funds into technological development in response to increased competition for consumer deposits... purchase to read more