2007 Ukrainian Canadian Credit Unions

Download the 2007 Ukrainian Credit Unions Report

There are still 10 Ukrainian Credit Unions in Canada located in four provinces, including Quebec, Ontario, Manitoba and Saskatchewan. The total assets of the 10 credit unions were $1.3 billion and represent an increase of 6.2% from the previous year. Total membership increased by 3.3% to 72,280. The average assets per member were $18,284 assets per member. Combined, Ukrainian Credit Unions returned just over $2.6 million in dividends and patronage payments to its members or 22% of their net income before taxes. Since, Ukrainian Credit unions began making tax efficient patronage payments, they have returned over approximately $25 million to their members. In 2007, Ukrainian Credit Unions were very well capitalized with a capital to assets ratio of 7.35%.

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