Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

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
Learn how to stay competitive with new research blog from @CUNA's econ/statistics dept in Wed's #NewsNow
10 hours ago
#FOMC meeting watch: Change in forward guidance expected #Market #NewsNow http://t.co/PH41VN1j9l
12 hours ago
Member growth at #creditunion continues despite mill closure #NewsNow http://t.co/rNRjLBjvX9
13 hours ago
CA/NV league pres/CEO Dykstra in @sacbee_news: Retailers should hold accountability in data breaches http://t.co/odyHd9N2OG
14 hours ago
Fin. lit. ideas percolate during .@NW_Banking #tweetchat #NewsNow http://t.co/nSS9Iiw0e0
15 hours ago