Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
New report CUbanking second largest co-op sector
NEW YORK (11/2/11)--The International Cooperative Alliance (ICA) marked the kickoff Monday of the 2012 International Year of Cooperatives (IYC) at the United Nations by launching  its latest Global300 Report announcing the largest 300 cooperative enterprises in the world.

The top 300 reported collective revenues of $1.6 trillion in the seven sectors of cooperatives. That is comparable to the gross domestic product of the world's ninth largest economy.

Credit unions and banking institutions account for 26.27% of the cooperative base--the second largest sector behind agriculture/forestry (28.85%) and in front of consumer/retail (21.66%), and insurance (17.23%).  Workers/industrial, health, utilities and other make up the rest. Credit unions/banking account for $430 billion in revenue.

France has the most cooperatives --28%; followed by the U.S., with 16%; Germany, 14%; Japan, 8%, Netherlands 7%; and United Kingdom 4%; Switzerland, 3.5%; Italy and Finland, 2.5% each; Korea, 2%; and Canada, 1.75%.

Although cooperatives were impacted by the global financial crisis in 2008, they provided stability and security because of their measured risk model and emphasis on service to members, not profits, the report said.

More than one billion people are involved in some way with cooperatives, including credit unions.

For the full report, use the link.


RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
26 minutes ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
1 hours ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
1 hours ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
2 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
3 hours ago