Manitobans invited to tell the world why their community is special
Credit union contest open to all Manitobans — not just credit union members
WINNIPEG, Manitoba (April 18, 2012) — Credit Union Central of Manitoba (CUCM), on behalf of Manitoba credit unions, is very pleased and excited to announce the launch a new contest, open to all Manitobans of all ages.
The "My Manitoba Community" video contest is the latest element in credit unions' year-long celebration, in 2012, of the United Nations International Year of Co-operatives and the 75th anniversary of co-operative financial institutions in Manitoba.
And what better way to celebrate co-operatives than by having community based organizations invite Manitobans to tell their fellow Manitobans — and the world — what they love about their communities?
Other events have included an official launch of the UN year at the Legislature on January 12 and a celebration slated for September 16 at The Forks that will bring together co-operatives from across the province, large and small, from many economic sectors. Manitobans may also have noticed posters and signs around the province — one of the most notable being a 50-foot banner on the side of CUCM in downtown Winnipeg, which proclaims that "Credit Unions Build a Better World." Social media is also being used extensively — CUCM is tweeting daily (@ManitobaCUs ) about the shared identity and principles of co-operatives.
Click here for complete details and rules.
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Media Contact: John Hamilton, Manager, Communications & P.R. – 985-4785 / 223-1976 / john.hamilton@cucm.org
"Cooperatives are a reminder to the international community that it is possible to pursue both economic viability and social responsibility." — UN Secretary-General Ban Ki-moon.
WINNIPEG, Manitoba (March 21, 2012) —Manitoba credit unions continued to grow in size and reach and, as lenders and leaders, play active roles in their communities in 2011.
The results — released in advance of the annual general meeting of Credit Union Central of Manitoba, March 23 in Winnipeg — showed healthy growth over 2010 in assets (10.5%), loans (9.35%), deposits (10.68%), membership (1.4%) and branches. Manitoba credit unions’ market share (as measured by their share of all comparable bank and credit union assets) now stands at 41.7 per cent.
Equity, an indicator of the financial strength of the province’s 41 credit unions, now stands at 5.95% of assets. System equity, which includes that of Credit Union Central of Manitoba and the Deposit Guarantee Corporation of Manitoba, is at 6.95%. In addition to this solid financial footing is the 100% guarantee on all member deposits and interest at Manitoba credit unions.
“The results of 2011 are the latest chapter in the success story of the credit union system as we celebrate, in 2012, the 75th anniversary of financial co-operatives in Manitoba and the United Nations International Year of Co-operatives,” said Credit Union Central of Manitoba CEO Garth Manness.
“All co-operatives including credit unions are guided by a common set of guiding principles. Not only are those principles unique in the marketplace, they drive the success of credit unions,” Manness said.
“With the co-operative model as their underpinning, the member-owner comes first, and Manitoba credit unions’ 2011 performance is the result of that commitment to member service.”
The principle of democratic control ensures accountability back to members and strengthens members’ trust in their credit unions.
“Nearly one in two Manitobans is a member and every single one of those members has a voice in deciding the direction of their financial institution,” Manness said. “And they all share in the profits of their credit union, either directly through patronage allocations or indirectly through better rates and lower fees.”
The co-operative model is also responsible for the fact that, over the past decade alone, Manitoba credit unions returned an annual average of $19 million in patronage allocations to members, and that 66 of Manitoba’s 189 credit union branches are in communities with no other access to financial services for local consumers, businesspeople and farmers. “Credit unions are committed to helping build stronger local communities, economically and socially,” Manness added.
Details on Manitoba credit unions’ 2011 community contributions and profit sharing will be released in the second quarter of 2012.
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ManitobaCreditUnions | 
@ManitobaCUs
Manitoba Credit Unions at a Glance
(Dec 31, 2011 unless otherwise indicated)
|
2010 |
2011 |
change |
Members |
574,314 |
582,245 |
1.38% |
Deposits |
$16.20 billion |
$17.93 billion |
10.68% |
Loans |
$14.53 billion |
$15.89 billion |
9.35% |
Assets |
$17.37 billion |
$19.19 billion |
10.47% |
System Equity (CUs, CUCM & DGCM) |
$1.199 billion |
$1.334 billion |
10.48% |
System equity as % of assets |
6.90% |
6.95% |
|
Credit Unions |
41 |
41 |
no change |
Branches (MARCH 2012) |
184 |
189 |
+ 5 |
Communities where CU is only F.I. (MARCH 2012) |
65 |
66 |
+ 1 |
About Credit Union Central of Manitoba (CUCM)
Credit Union Central of Manitoba is the trade association and service provider for the province’s 41 autonomous credit unions and is governed by Manitoba’s Credit Unions and Caisses Populaires Act. CUCM manages liquidity reserves, monitors credit granting procedures and provides trade services in areas such as corporate governance, government relations, representation and advocacy. CUCM also provides payment and settlement systems, banking, treasury, human resources, research, communications, marketing, planning, lending, product/service R&D, business consulting and legal services to credit unions. Manitoba credit unions jointly own cucm and representatives from nine provincial districts sit on its board of directors. CUCM is financed through assessments and fee income derived through its operations.
Media Contact:
John Hamilton, Mgr. Communications & PR
Call: (204) 223-1976
Office: (204) 985-4785
