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
.@CUNA Bank Secrecy Act training to reach 38 Mich. state examiners #NewsNow http://t.co/7HDPgwih8G
1 hours ago
St. Louis treasurer taps #creditunion to serve unbanked #NewsNow http://t.co/lWtcezJOej
18 hours ago
.@CUNAMutualGroup has committed $35K to @trustdotcoop over the next year to suppor the future of #creditunions.
19 hours ago
.@madison_mag gets the cooperative scoop from @SummitDoMore's @kimsponem http://t.co/RxSCeSegie
20 hours ago
.@VantageWestCU emeritus chairman Whittaker inducted into @DCUC_HQ Hall of Fame http://t.co/dpeP4ME49U
21 hours ago