Credit unions in Manitoba were founded and built by people who used them. They've continued to grow because more and more people all the time are becoming members. As long as Manitobans want credit unions, credit unions are here to stay.
Today, there are 40 credit unions in the province extending services to 47% of Manitobans through a multitude of branch locations and ATMs. The Manitoba credit union system has combined assets of $21.56 billion.
And because each credit union is governed by a local board of directors - decisions are made right in the communities they serve - not at a head office in another province.
We Serve Manitobans
There are 191 credit union locations in Manitoba - twice as many as any other financial institution in the province. In 67 of the 117 communities in which they operate, a credit union is the only financial institution providing financial services to area residents, producers and business people.
The Manitoba credit union system employs 3,500 people with a payroll of $150 million.
We Support Manitoba Communities...Our Communities
As key participants on economic development associations, credit unions help bring projects, services and jobs to communities throughout the province.
In 2011, they provided $150,000 in scholarships and bursaries to Manitoba students, provided $1.5 million in support to community initiatives and donated an additional $1.5 million to charity — in addition to $415,000 in-kind donations and reduced or eliminated fees for non-profits and other groups dedicated to community development. They also spent $18 million on new branches and improvements, using local firms and materials.
We Understand Small Business
Manitoba credit unions are the number one lender to small- and medium-sized business in Manitoba. When asked, SME owners are most satisfied with credit unions. Credit unions also recognize a good opportunity when they see one and get together from time to time to fund major projects with major potential - like the MTS Centre in downtown Winnipeg.
It Pays to Become a Member
The more business you conduct at your credit union, the larger your reward. In terms of profit sharing, Manitoba credit unions returned $19 million to members in 2011, in the form surplus shares and cash and many millions more in the form of reduced or eliminated fees, lower interest rates on loans and hgher interest rates on deposits.