The Credit Union Difference
If you walk by one of our branches, or use our online services, you might think we are just like other financial institutions. But here’s the difference: a local credit union is a financial co-operative, owned by its members, who are also customers. It is owned and controlled by the people it serves.
Guided by seven Co-Operative Principles, credit union is a secure place to save, invest or borrow money. These seven internationally accepted co-operative principles shape credit union business decisions and governance, setting credit unions apart from other financial institutions To learn more about these co-operative principles, click here.
Why credit unions matter to Manitoba
You don’t have to look very hard to see why credit unions matter to Manitoba.
More than 600,000 Manitobans belong to a credit union and, according to the 2014 Ipsos Best Banking Awards, credit unions were rated number one in customer service for the 10th year in a row. Businesses are also taking note; the Canadian Federation of Independent Business (CFIB, in its 2013 Battle of the Banks research report) called credit unions the best option for small businesses, saying credit unions “continue to outperform banks when it comes to serving the financial needs of small and medium-sized enterprises (SMEs)” in Canada.
Here in Manitoba, that’s evidenced by the fact that 57 per cent of businesses under $5 million consider a credit union to be their primary financial institution.
Credit unions are not only working hard at providing great service and rates. They’re also committed to supporting the growth and success of our communities. Manitoba’s 36 credit unions provide more than 3,000 jobs, $3.68 million in community sponsorships, donations and scholarships and — perhaps most importantly — vital access to financial services in 67 Manitoba communities where there is no other financial institution.
Thirty-eight per cent of Manitobans belong to a credit union and 34 per cent of all Manitobans consider a credit union to be their primary financial institution.