The global credit union movement ended 2025 with a vast pool of member-owned wealth, highlighting the scale of cooperative finance even as institutions face mounting pressure to modernise.
New data from the World Council of Credit Unions (WOCCU) shows that about 61,838 credit unions and financial cooperatives in 93 countries were serving nearly 420 million members by the end of the year.
Together, the institutions held about US$3.98 trillion in assets, with savings and shares standing at US$3.34 trillion and loans outstanding at US$2.83 trillion.
“These numbers demonstrate the extraordinary scale of cooperative finance, but they tell only part of the story,” said Paul Treinen, WOCCU President and CEO.
Treinen said the movement’s strength also lies in the diversity of institutions and the different ways they create value for members and communities.
He stressed that remaining relevant will require credit unions to embrace change without losing the trust, member focus and cooperative identity that distinguish the model from conventional financial institutions.
North America continues to dominate the movement in terms of assets, accounting for roughly three-quarters of the global total. However, Asia, Latin America and Africa account for a significant share of global membership, underlining the widespread reach of cooperative finance across very different economies and regulatory systems.
The United States has the largest credit union sector by assets, followed by Canada, Japan, Brazil, Australia, Thailand and South Korea.
WOCCU, however, cautions against judging the strength of a country’s credit union movement purely by the size of its balance sheet. Smaller systems may account for a relatively modest share of global assets while serving a large proportion of their populations or reaching communities and market segments that traditional financial institutions struggle to serve.
The report also provides a new look at gender representation in cooperative governance.
An analysis of 39 national and regional WOCCU member organisations with complete data found that women occupied about 28 per cent of the 406 board seats surveyed.
Regulation and competition emerge as major concerns
Despite the movement’s impressive scale, credit union leaders are entering a period of significant change.
Regulation emerged as the leading concern for the next five years, with more than half of respondents identifying it among the trends likely to have the greatest impact on their institutions. Nearly half pointed to growing digital competition.
Artificial intelligence and cybersecurity were also prominent concerns, each identified by more than a third of respondents.
The findings suggest that credit unions are no longer dealing with these issues in isolation. Instead, regulatory demands, competitive pressure, technology and changing member expectations are increasingly interconnected.
This is forcing institutions to become more adaptable while maintaining the cooperative principles that underpin their operations.
Digital transformation has consequently moved to the top of the strategic agenda.
When respondents were asked to identify their three main priorities, digital transformation ranked first, ahead of membership and asset growth, regulatory reform and efforts to attract and remain relevant to younger members.
For many credit unions, technology is therefore becoming a means to an end rather than an end in itself. Digital tools can help institutions reach more members, improve services, respond to regulatory requirements and compete for a younger, increasingly technology-oriented generation.
Risk management is also becoming more complex.
Technology emerged as the leading risk when respondents’ top-three selections were combined, followed closely by regulation and governance. Credit risk, staffing constraints and crime, including fraud and cybercrime, were also among the major concerns.
The findings point to a financial sector in which technological advances are creating new opportunities while simultaneously introducing new operational and competitive risks.
AI moves from experimentation to implementation
Artificial intelligence is emerging as one of the most visible areas of change.
WOCCU’s findings indicate that almost half of surveyed organisations are experimenting with AI, while about a third have already deployed it in specific areas of their operations.
However, only a smaller proportion have incorporated AI into their broader organisational strategies or deployed it across multiple departments.
This suggests that AI adoption within the movement is still at an early stage, but is gathering momentum.
Credit union leaders appear particularly interested in applications that directly improve member experience and employee productivity.
Member service was identified by 62 per cent of respondents as the area where AI could have the greatest impact. Staff productivity followed at 57 per cent.
Data analytics and fraud detection were each cited by 43 per cent of respondents.
The figures suggest that credit unions are viewing AI primarily as a practical business tool—one that can help employees work more efficiently, improve member service and strengthen the ability to identify and manage risks.
But technology is also forcing changes at the governance level.
Boards are increasingly being called upon to understand and oversee digital transformation, cybersecurity and emerging technology risks. At the same time, attracting younger directors and maintaining effective risk oversight remain significant challenges.
Clarifying the respective roles of boards and management is another concern.
