1. The World of Credit Unions
Prague – 1st March 2017
Paul A Jones PhD
Research Unit for Financial Inclusion
Liverpool John Moores University

2. What is a Credit Union?
Credit unions are democratic, member-owned financial cooperatives
Credit unions exist to serve their members and communities.
Credit unions are safe, convenient places to access affordable financial services.

3. Credit unions world wide – 2015
222,000,000 Members
60,647 Credit Unions
109 Countries
Canada – 694 credit unions – 43% penetration
USA –6,399 credit unions – 47% penetration
Australia – 101 credit unions – 30% penetration
Jamaica – 38 credit unions – 51% penetration
Ghana – 476 credit unions – 3.9% penetration
Ireland – 479 credit unions – 75% penetration
Great Britain – 378 credit unions – 3% penetration

4. World Council of Credit Unions
Global trade association and development agency
WOCCU
WOCCU is founded on the belief that all people have the right to affordable, reliable and accessible financial services.
Credit unions in Europe

5. Credit unions in action
Credit unions in Ecuador Ecuador
Youth savings programme Ghana
Community Choice Credit Union US

6. European origins of credit unions
Credit co-operatives originated in Germany in the 1840’s and evolved in three general directions:
European Co-operative Banks
France, Germany, Netherlands
Small Savings Co-ops
Italy, Greece
North American Model
Britain, Ireland, Poland, Romania, Eastern Europe
Spread throughout the world
Came to Britain via immigrants coming to London in the 1960s and then via Ireland

7. Economic Goals “Not for profit, not for charity, but for service”
Profits (surplus) go to the member
Giving people a better deal on financial services
Providing financial services to people excluded by the for-profit sector
Creating jobs in the community

8. Social Goals “People helping people”
Giving people control over their financial destiny
Mutual self-help and reliance
Building community
Education in the wise use of money
Instilling democratic and co-operative values

9. Credit unions in Britain
London Mutual Credit Union
Hull and East Yorkshire Credit Union
Enterprise Credit Union, Merseyside
South Manchester Credit Union
Community Development Credit Unions in the US
National Federation of CDCUs

10. Credit unions are co-operatives
National Credit Union Foundation
NCUF website