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1384.6 - Statistics - Tasmania, 2008  
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Credit unions, also known as credit cooperatives, are organised as financial cooperatives which borrow from and provide finance to their members. Credit unions mainly lend for purposes other than housing.

In 2000-01, deposits made up 86.6% of liabilities for credit unions in Tasmania while amounts owing on loans made up 84.5% of assets. During the same period, total expenditure by credit unions in Tasmania was $68.2 million and total income was $74.6 million.


CREDIT UNIONS(a): LIABILITIES, ASSETS, EXPENDITURE AND INCOME, Tasmania

1998-99
1999-2000
2000-01

$m
$m
$m

Liabilities
Share capital
-
-
-
Reserves
56.7
60.4
62.8
Deposits
562.0
606.3
673.1
Loans
20.0
12.7
17.1
Other liabilities
23.1
26.3
24.6
Total liabilities
661.8
705.7
777.6

Assets
Amount owing on loans
558.6
601.9
656.7
Cash on hand
4.8
4.5
5.6
Deposits with banks
4.2
0.2
8.6
Deposits with other
50.6
64.8
64.0
Bills, bonds, etc.
8.9
4.2
4.1
Physical assets
16.2
17.3
18.3
Other assets
18.5
12.8
20.3
Total assets
661.8
705.7
777.6

Expenditure
Interest on deposits
17.1
19.1
23.8
Interest on loans
0.8
1.8
1.5
Wages and salaries
14.3
14.6
16.9
Administrative expenses
6.6
6.8
7.0
Other expenses
14.4
16.1
19.0
Total expenditure
53.2
58.3
68.2

Income
Interest from loans
45.8
49.8
55.6
Interest from investments
3.8
4.3
5.6
Other income
10.7
12.8
13.4
Total income
60.4
66.9
74.6

- nil or rounded to zero
(a) Credit unions, also known as credit cooperatives, are organised as financial cooperatives which borrow from and provide finance to their members. Credit unions mainly lend for purposes other than housing.

Source: Annual Statistics on Financial Institutions (cat. no. 5661.0.40.001) and Australian Prudential Regulation Authority (http://www.apra.gov.au).


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