LONDON—Credit unions continue to add new members here. According to data released by the Bank of England, at the end of Q3 2014, creditunions in the U.K. had 1,564,063 adult members in the third quarter, up from 1,549,695 in the previous quarter. The population of the U.K. is approximately 64-million.
The statistics also showed that credit unions made a £12.9m interim profit for the third quarter of 2014.
There has been growing awareness of credit unions in the U.K., with the Archbishop of Canterbury and the Duchess of Cornwall among those who have made public statements supporting credit unions, especially as alternatives to payday lenders.