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WOCCU stats Global CU movement expanding
MADISON, Wis. (7/10/08)--Credit unions worldwide are expanding at a stable pace, with more members served in 2007 than in 2006, according to new statistics from the World Council of Credit Unions (WOCCU). Ninety-six countries reported that 49,134 credit unions served more than 177 million people worldwide in 2007, according to the just-released WOCCU 2007 Statistical Report, an annual survey.
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In 2006, roughly 46,377 credit unions served slightly more than 172 million members in 97 countries. Credit union assets around the globe grew by 8.2% over the previous year, totaling US$1.2 trillion in 2007. Credit unions managed more than $900 billion in savings. Africa led asset growth last year with a 37.3% increase. Capitalization levels, a measure of financial soundness, remained strong at 9.8% of total non-risk-adjusted assets in 2007--demonstrating that the international credit union movement is on solid financial footing, said WOCCU. Global membership in credit unions grew by 3.1% in 2007 compared with the previous year, with Africa again leading the growth curve with 15.1% growth. WOCCU has collected annual statistics on the international credit union movement for the past 35 years to produce its annual Statistical Report. To download a free copy of the current report, use the resource link.
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