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

IBISWorld’s Credit Unions market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Annual Growth 10-15
Annual Growth 15-20
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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 Products Chapter

Residential mortgages

Residential mortgages are expected to account for about 50.4% of industry revenue in 2015. Residential mortgages include mortgage product offerings for home purchases and refinancing options for existing homeowners. Credit unions offer mortgages in the common formats of 15-year or 30-year instalments with fixed or variable interest rates. While credit unions collect fees for the origination of a mortgage, the majority of revenue comes from interest income and other servicing fees (i.e. late fees).

Consumer loans

Consumer loans are expected to account for 19.3% of industry revenue in 2015. Credit unions issue consumer loans for education, automobile purchases and other personal expenditures... 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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