The sixth annual Analysis of Canada’s Largest Credit Unions based on 2008 Audited Financial Statements provides extensive financial comparisons between credit unions, chartered banks and financial institutions includes asset growth and profitability, deposit and loan portfolio, operating results, capital ratios. The Analysis provides a overview of the Credit Unions’ participation in the mutual fund and on-line brokerage industries. The 2008 Analysis included 101 of the largest credit unions in Canada, outside of Quebec. The total assets of these credit unions grew by 9% from the previous year to $98.7 billion. In comparison, the chartered banks saw their assets grow by only 19.7% to $2.7 trillion. More than 3.7 million Canadians were members of these 101 largest credit unions. The largest Canadian Credit Unions returned about $147 million in dividends and patronage payments to their members or 24% of their net income before taxes. The profitability of the largest credit unions in 2008 was stronger than their competitors. The return on equity (ROE) was 10.7%. This was on par with the chartered banks ROE of 10.7% and greater than ROE for the 25 largest U.S. credit unions. The return on assets (ROA) was 0.66% compared to 0.48% for the banks and 0.34% for the U.S. credit unions. The higher profitability was primarily due to the banks reduced other income and higher loan losses. The largest credit unions continue to have a higher operating cost structure.