Financial results of co-operative savings and credit unions in 2019
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The gross financial result of co-operative savings and credit unions in 2019 amounted to PLN 7.8 million and net financial result PLN 8.9 million. The value of memberships deposits at the end of 2019 amounted to PLN 8.7 billion, and the debt of members – PLN 6.0 billion.
Basic data on co-operative savings and credit unions
The survey covered 25 co-operative savings and credit unions (hereinafter unions, CSCU) which conducted the operating activity at the end of 2019. Compared with the year 2018 the number of surveyed unions decreased by five, of which one union was taken over by a domestic bank and four unions by other CSCU.
The distribution network of CSCU decreased over 2019 year by 95 branches and checkout points to 779 units. In 2019 on average, there were 31 customer service facilities for every union. The employment in unions decreased by 19.0%, i.e. by 431 full time equivalents. Number of members of CSCU decreased by 9.5%. At the end 2019 on average, there were 56.1 thousand of associated members for every union.
The solvency ratio of surveyed CSCU at the end of 2019 reached 6.3%, i.e. increased by 2.8 percentage points compared with the end of 2018 and was above the legal minimum on the level of 5.0%.
