There are now 9 Ukrainian Credit Unions in Canada located in four provinces, including Quebec, Ontario, Manitoba and Saskatchewan. The number was reduced by one from 2007 due to Ukrainian (St. Catharines) Credit Union agreeing to merge with Ukrainian Credit Union. The total assets of the 9 credit unions were $1.43 billion, an increase of 7.9% from the previous year. Total membership declined by 1.3% to 71,338. The average assets per member were $20,007 assets per member, an increase of 9.4% from the previous year. Combined, Ukrainian Credit Unions returned just over $1.2 million in dividends and patronage payments to its members or 16% of their net income before taxes. Since, Ukrainian Credit unions began making tax efficient patronage payments, they have returned over approximately $26 million to their members. In 2008, Ukrainian Credit Unions were very well capitalized with a capital to assets ratio of 6.95% compared to 7.35% in the previous year. The combined net income was $7.27 million or a ROA of 0.56%, a decrease 5.1% from the previous year.