2011 Canadian Credit Union Report

The ninth annual Analysis of Canada’s Largest Credit Unions based on 2011 Audited Financial Statements provides extensive financial comparisons of credit unions by province including asset growth and profitability, deposit and loan portfolio, operating results, capital ratios. The Analysis provides an overview of the Credit Unions’ participation in the mutual fund and on-line brokerage industries. The 2011 Analysis included 115 of the largest credit unions in Canada, outside of Quebec. The total assets of these credit unions grew by 8.8% from the previous year to $125.8 billion. More than 4.2 million Canadians were members of these 115 largest credit unions, which represents 84% of the total credit union movement’s membership of 5.1 million people. The largest Canadian Credit Unions returned about $168.5 million in dividends and patronage payments to their members or 19% of their net income before income taxes. The return on equity (ROE) was 9.1%, a decrease from 9.9% in the previous year. The return on assets (ROA) was 0.62% in 2011, an increase from 0.63% in the previous year. The largest credit unions continue to have a higher operating cost structure the Canadian Chartered Banks.

Details about the analysis and previous analysis reports are posted on this website www.canadiancreditunion.ca, which has been specifically created to provide independent analysis of the Canadian credit union movement and highlights the movement’s financial successes and challenges.

Download the 2011 Largest Canadian Credit Union Analysis

Leave a Reply

Your email address will not be published.