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
.@RepDennyHeck to @NWCUA Amplify conference audience: "More often than not, CUs are part of the solution"
16 hours ago
LA Laker and NBA Legend Earvin "Magic" Johnson was the keynote speaker Tuesday @CCULReach, hosted by the Cal/Nev #CreditUnion Leagues
17 hours ago
.@growfinancial's #salsa sensation spices up seed giveaway #NewsNow http://t.co/rKmWVwwzot
17 hours ago
.@TheNCUA Office of Small CU Initiatives soon--maybe Nov.--will launch website for #CUs 2 research #creditunion vendors or service providers
17 hours ago
.@TheNCUA says late 2Q Call Report filers 2 pay total of $17,111 in penalties.Individual penalty range is $52 to $1,824;median is $256. 2of2
18 hours ago