MADISON, Wis.—Membership in the global credit union movement topped 411 million, while assets surpassed $3.7 trillion last year, according to the World Council of Credit Unions’ 2023 Statistical Report.
As of Dec. 31, 2023, there were 411,008,249 credit union members in 104 countries.
The new membership figure represents a 2% increase over 2022. While membership growth was modest across all continents, several countries still saw substantial membership growth, including:
- Dominica +33%
- Nepal +18%
- Brazil +12%
- Great Britain +10%
“Brazil has seen consistent growth in membership from year to year. We know that at Sicredi, our direct member organization, this is due in large part to the efficiencies and inclusion made possible through their shared service model,” said Thomas Belekevich, WOCCU director of member services. “In the case of Dominica, their membership growth is the result of greater participation from the country’s diaspora communities and from more people opening accounts at more than one credit union. We love seeing the different ways our member nations are innovating in order to grow.”
Over the past decade (2014-2023), global credit union membership increased 89%. That growth includes the following increases by region:
- Asia +230%.
- Africa +116%.
- Latin America +96%.
- North America +37%.
- Europe +20%.
- Caribbean +18%.
- Oceania 16%.
Global credit union assets increased by 4% in 2023, but more than doubled over the last decade as well. Asia and Latin America saw the largest growth, as credit union assets more than tripled across those regions over the past 10 years.