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Better data reporting and improved supervision led to a tremendous jump in the number of credit union members across the globe. New numbers released Wednesday, in the WOCCU 2020 Statistical Report, found a 29% year-over-year increase in international credit union membership. According to WOCCU, the jump appeared to be attributed to more accurate data reporting in India.

In 2019, WOCCU reported that India had roughly 20 million credit union members. After better supervision and data collection in the world’s second-most populous country, that number leapt to more than 91 million members in 2020.

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Michael Ogden

Editor-in-Chief for CU Times.

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