2017 Ukrainian Canadian Credit Union Report

Highlights

  • The Ukrainian-Canadian credit unions have continued to support the Ukrainian community in Canada by providing donations, sponsorship and promotions funds to non-profit and charitable organizations for their deserving projects. In 2017, the five Ukrainian-Canadian credit unions have provided $2.664 million in donations, sponsorship and promotion support for many charitable and non-profit organizations in the Ukrainian community in Canada. This represents a decrease of 13.6% from the previous year. Over the last five years a total of $14.9 million has been provided by way of donations, sponsorship and promotion funds to the Ukrainian community in Canada.
  • The members of the Ukrainian-Canadian credit unions have continued to financially benefit by receiving significant dividends and patronage payments, which totalled $0.813 million in 2017 compared to $1.080 million in 2016. Over the last five years a total of $7.0 million has been provided by way of dividends and patronage dividends to the members of the Ukrainian-Canadian credit unions in Canada.
  • Return on equity was 5.1% compared to 5.0% in 2016. Ukrainian-Canadian credit unions assets grew by 5.5% in 2017 compare to record growth of 5.4% in 2016.
  • Ukrainian-Canadian Credit Union’s total deposits grew by 4.7% compared to a growth of 4.0% in the previous year.
  • The Ukrainian-Canadian Credit Union’s net income before dividend and patronage payments increased by 5.0% to $8.8 million from $8.4 million, primarily due to an increase in the net interest margin and other income.

Download the 2017-Ukrainian Canadian Credit Union Report

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