Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

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
.@WOCCU and @CUNA are co-hosting 2015 America’s CU Conference July 12-15 in Denver. Registration is open here: http://t.co/FanFeaO0bC
33 minutes ago
Recording of @CUNA Jan. 26 #rbc2 webinar is now available online here: http://t.co/jgxkd65Fj0 Just sign in and listen.
48 minutes ago
.@SEC_News 2/19 proxy voting roundtable: contested director elections, increasing retail shareholder participation http://t.co/8k0p6ZvNL8
1 hour ago
.@TheNCUA posted resources 2 help consumers protect themselves,take action if they believe they were ID theft victims:http://t.co/HVaikbuT9H
2 hours ago
.@TexansCU, under conservatorship of @TheNCUA, reported continued growth in 2014. http://t.co/1iWLrhHBGy
4 hours ago