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News Now

CU System
Canadas CUs donate 42.1M to communities
TORONTO, Canada (10/16/09)--Canadian credit unions upped their support of community projects nationwide to $42.1 million in 2008. The amount was up 18% from the $35.8 million donated in 2007, a new survey indicated (Canada NewsWire Oct. 15). “During the recent tough economic times, credit unions have increased their support for local community projects,” David Phillips, president/CEO of Credit Union Central of Canada, told the news service. “Every day, credit unions help their communities by providing time, money and expertise. These actions flow from the cooperative principles that are at the core of the credit union difference.” Since its inception eight years ago, the annual survey has shown a steady increase in donations from Canada’s credit unions, the news service said. In a related matter, credit unions in the Canadian province of Ontario increased their support of community projects to a record $5.3 million in 2008--up roughly 10% from $4.8 million in 2007, said Central 1 CU, the central liquidity management facility and trade association for nearly 200 member credit unions in British Columbia and Ontario.


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