Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Canadian CU System hits 100 billion assets
TORONTO, Ontario (11/26/07)--Sustained growth in the Canadian credit union system has resulted in two milestones--more than $100 billion in assets, and more than five million members, as of the end of third quarter 2007. The number of credit unions in Canada declined to 472 from 501 a year ago, due to continuing consolidation in the system, said Credit Union Central of Canada. Combined assets for the system rose to $102.4 billion, a 10.8% increase year-over-year at third quarter 2007. Over the past five years, credit unions gained $32 billion in assets, a 45% increase. Deposits/savings growth has remained consistent with recent past results, with an annualized 9.5% growth rate reported by the system. Deposits /savings increased by nearly $7.8 billion to reach $89.2 million at the end of the third quarter. Loan demand remained relatively high with total system loans increasing by $8.5 billion, or an annualized 11%, to $86.1 billion at the third quarter. Loans as a percentage of total deposits are at 96.5%, compared with 95%, a year ago, and 89%, for 10 years ago.


RSS





print
News Now LiveWire
Registration now open for @CUNA @WOCCU summer conference in Denver July 12-15 http://t.co/opq1jypsXL #ACUC #CUinDenver2015
12 hours ago
Emergency loans post- #Blizzard2015 offered by @ScientFCU in Conn. http://t.co/U9tIBzPOZV
13 hours ago
Did you get your spot in the @CUCB #CherryBlossom 10 Mile Run? Check lottery results here http://t.co/6rxT0osyWJ @CU4Kids @CMNHospitals
13 hours ago
@FamilyFirstFCU has implemented a grant program through the FHLB of NY to help first-time home buyers.
14 hours ago
#BREAKING: @federalreserve offers few new hints on rate-hike timing in policy statement http://t.co/lgZ6zZ1Vrr
15 hours ago