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UK: Credit unions continue to grow in the UK
Significant rise in the number of British people saving with credit unions - financial co-operatives, owned and controlled by their members, that offer savings accounts and good value loans.
According to the Association of British Credit Unions, which exists to promote quality credit unions, figures released in June 2006 show that over 600,000 adults and children are now saving with credit unions in England, Scotland and Wales.
The figures reveal adult membership of 535,881 and total junior savers of 77,299. This shows an increase of nearly 10% on the same period last year for adult members, and an increase of over 13% for junior savers.
In 1995, there were 161,500 adult members of credit unions, meaning that credit union membership has grown by over 330% in a ten year period.
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