2013 Ukrainian Canadian Credit Unions

Download the 2013 Ukrainian Canadian Credit Unions

Five Year Results of Ukrainian-Canadian

Credit Unions in Canada – 2009 to 2013

The financial results of Ukrainian-Canadian Credit Unions over the last five years have been mixed: asset quality as measured by allowance as a % of loans and loan loss provision has improved primarily due to a continued lower interest rate environment. Ukrainian-Canadian credit unions have endeavoured to provide loans using a lower loan to value ratio than the maximum of 80% which has helped reduce the loan loss ratio. Capital to assets ratio in 2013 has declined to 7.30% compared to the record level of 7.40% in the previous year. The return on assets and the return of equity declined in 2013 compared to 2012. The membership has decreased in 2013, primarily due to the elimination of inactive and dormant accounts at Carpathia CU. The membership totalled 64,540 and is far from the record level of 72,280, which was achieved in 2007. The members of the Ukrainian-Canadian credit unions have continued to financially benefit by receiving significant dividends and patronage payments, which totalled 1.959 million in 2013.