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 41 credit unions in the province extending services to nearly 50% of Manitobans through a multitude of branch locations and an ever-increasing number of ATMs. The Manitoba credit union system has combined assets of $19.2 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 189 credit union locations in Manitoba - twice as many as any other financial institution in the province. In 66 of the 116 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.
Credit unions donated $2.6 million in 2010 to community groups and organizations important to their members and gave out $127,000 in scholarships and bursaries to Manitoba students.
We Understand Small Business
Manitoba credit unions are the number one lender to small- and medium-sized business in Manitoba - and, 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 $13.4 million to members in 2010, in the form surplus shares and cash. In recent years, many credit unions are electing to share profits with members at the front-end, through reduced or eliminated service charges, higher rates on deposits and lower rates on loans.
