2005 Ukrainian Canadian Credit Unions

Download the 2005 Ukrainian Credit Unions Report

There were 12 Ukrainian Credit Unions in Canada located in five provinces, including Quebec, Ontario, Manitoba, Saskatchewan, and Alberta. This number reduced by one from 2004 due to a merger of two caisses populaires in Montreal. Their total assets were $1.2 billion and represent an increase of 5.5% from the previous year. Total membership increased by .03% to 71,516 averaging $16,486 assets per member. This has been the slowest membership increase over the last six years. Combined, Ukrainian Credit Unions returned just under $2.6 million in dividends and patronage payments to its members or 33% of their net income before taxes. Since, Ukrainian Credit unions began making tax efficient patronage payments, they have returned over $19 million to their members, an average of over $2 million a year. In 2005, Ukrainian Credit Unions were very well capitalized with a capital to assets ratio of 7.35%

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