The Voice of Canadian Credit Unions

News

Enjoy quick hits of news on issues that matter to credit unions in Canada

Education / Finance /  • July 14, 2017
Seniors Racking up Debt

Canadian seniors are borrowing more and requiring credit counselling to deal with it. Equifax reported this past May that the debt held by those age 65 and up averaged $15,244 in the fourth quarter of 2016. This is lower than the Can...

Finance / Human Interest /  • July 10, 2017
The kindness of strangers

As early 20th-century American entertainer Will Rogers once said, “A stranger is just a friend I haven’t met yet.”  In today’s immoderately priced mortgage market, this pithy saying may well become the descriptor of the futu...

Community Development / Education /  • July 6, 2017
Coast Capital Savings gifts $1 million to SFU

This past May, Coast Capital Savings Credit Union, (543,000 members, $15 billion in assets) gave $1 million to Simon Fraser University in Burnaby, BC to help support the university’s business incubator program, which has been rename...

Technology /  • May 23, 2017
Winds of Change

In 2012, the credit union system was faced with a new technological challenge: adapting to, in order to take advantage of, the software and data storage opportunities offered by cloud computing. Transferring data to an amorphous cloud initially cau...

Community Development / Human Interest /  • May 15, 2017
Putting the Bite on Hunger

Last year, First West Credit Union (250,000 members, $11 billion in assets) generated, via food collection and fundraising, the equivalent of 1.35 million meals for hungry British Columbians. First West and its local divisions: Valley Fi...

Business /  • May 12, 2017
Desjardins and Assiniboine tops in customer service

The 2016 Surviscor Service Level Assessment review named Quebec-based Desjardins Group (seven million members, $261 billion in assets) alongside BMO Bank of Montreal as the country’s two top financial firms when it comes to the best cus...

Business /  • May 9, 2017
Less is more for some financial customers

A study released this past February by the Canadian Prepaid Providers Organization (CPPO) found that although 99 percent of Canadians have a bank account, there is a growing interest, especially among younger Canadians, to use alternative p...

Community Development / Human Interest /  • May 5, 2017
Cheese-making nurtures gender equality in Colombia

By transforming milk into artisanal cheese, a small group of women in the municipality of Bolivar in north-western Colombia—an area once known for its guerrilla, paramilitary and drug-related violence—are transforming their lives. ...

Banking / Mergers /  • April 4, 2017
Credit union numbers drop over two decades

In 2012, credit union mergers were a hot topic of conversation — just as they are today, having become an attractive management strategy to avoid service duplication. [NOVEMBER 2012] Credit Union Central of Canada reports t...

Finance /  • March 30, 2017
Changes to CPP will enhance income security in retirement

For Canada’s baby boomers — the biggest demographic wave in our nation’s history — the light at the end of the retirement tunnel is becoming ever so bright. (Some, of course, are already basking in the glow.) This massive bubble of ...

Banking /  • March 23, 2017
Concentra boosts credit union competitiveness

On the recommendation of the Office of the Superintendent of Financial Institutions (OSFI) and after receiving approval from Ottawa’s Minister of Finance, Canada’s newest bank, Concentra Bank, began operations under the Bank Act on Jan....

Community Development /  • March 14, 2017
D.O.G. charms credit union members

Lily, Sunova Credit Union’s (34,300 members, $1.4 billion in assets) newest, four-legged Director of Greetings (D.O.G), took up her posting last month. The Saint Bernard puppy has been in training since the beginning of the year to tak...

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