MADISON, Wis. — Worldwide, the credit union movement is advancing at a stable pace, with 2007 up over the previous year, according to findings just released in World Council of Credit Unions' 2007 Statistical Report.
Respondents from 96 countries reported that 49,134 credit unions served more than 177 million people worldwide in 2007. In 2006, 46,377 credit unions served slightly more than 172 million members in 97 countries.
African credit unions led both asset and membership growth last year, with 37.3% asset growth and 15.1% membership growth. Worldwide, assets grew 8.2% to US$1.2 trillion, and membership was up 3.1%. Capitalization levels, a measure of financial soundness, remained strong at 9.8% of total non-risk-adjusted assets in 2007.
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