Credit Unions in the US - Industry Market Research Report

Credit Unions in the US - Industry Market Research Report


Credit Unions in the US

Credit Unions industry operators provide depository and lending services to members of a specific community. Over the five years to 2022, the industry experienced growth, stemming from increased membership and rising interest rates throughout the majority of the period. As macroeconomic conditions improved through 2019, industry operators benefited from increased consumer borrowing, especially as interest rates rose alongside borrowing activity. However, in 2020, lower demand as a result of COVID-19 (coronavirus) hampered industry activity and growth. Resulting economic uncertainty led consumers to decrease their spending in 2020, while interest rates declined as a result of the Federal Reserve lowering the Federal Funds Rate to the zero-bound range. Consequently, revenue is estimated to increase marginally by 0.6% in 2020. However, as the Federal Reserve increases interest rates in an attempt to curb high inflation, industry revenue is expected to benefit. Overall, industry revenue is expected to increase an annualized 6.7% over the five years to 2022 to $103.3 billion, with a 10.7% incline in 2022.

This industry comprises financial institutions known as credit unions or cooperatives. Credit unions are member-owned and provide banking services, which primarily include deposit taking and lending, to these same members.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.


ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings