Credit Union Central of Manitoba (CUCM)
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Consolidated System Statistics

Manitoba’s Credit Unions
Credit unions serve 108 communities throughout the province, giving Manitobans substantially better access to quality financial services and products than any other financial institution. 
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In 68 of those communities, a credit union is the only financial institution in place to serve local residents and businesses.
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Credit Union Central of Manitoba (CUCM) is the trade association and service provider for the province’s 24 autonomous credit unions.
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CUCM is governed by Manitoba’s Credit Unions and Caisses Populaires Act. CUCM manages liquidity reserves, monitors credit granting procedures and provides trade services in areas such as corporate governance, government relations, representation and advocacy. CUCM also provides payment and settlement systems, banking, treasury, human resources, research, communications, marketing, planning, lending, product/service R & D, business consulting and legal services to credit unions. Manitoba credit unions jointly own CUCM and representatives from five peer groups sit on its board of directors. CUCM is financed through assessments and fee income derived through its operations.

Consolidated System Statistics​
As of December 31, 2019. All figures are preliminary unaudited results.
Memberships
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Manitobans continue to be attracted to credit unions and their rates, products, services, and commitment to community, as well as the co-operative business model that makes them an owner of their financial institution. ​

Credit Unions (Red), Locations (Brown)
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Amalgamations between Sunrise and Strathclair in Western Manitoba, and Carpathia and North Winnipeg in the capital, reduced by two the number of credit unions. (The number dropped to 24 on January 1, 2020 with the amalgamation of Portage la Prairie-based Stride and Neepawa-based Beautiful Plains.) Branch consolidations in Winnipeg and Oak Bank were partially offset by Noventis expanding its reach with a new Solutions Centre — an interactive teller machine, with a human being providing service at the credit union’s end — in Lundar.  ​

Credit Union Assets​
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While no longer growing by the double digits of the early part of the decade, Manitoba credit unions continue to grow. The slower growth is attributable to Canada’s very low interest rate environment, which puts pressure on credit unions’ margins — the spread between lending and deposit rates, where they earn the bulk of their income.

Loans & Deposits
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The pace of loan growth declined to a more moderate level in 2019 after an extended period of strong growth. Credit union member deposits, meanwhile, grew at a faster pace in 2019 than in the past few years.
* net of allowances

Credit Union Equity
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Credit union equity consists of member share capital, surplus shares, preferred shares, contributed surplus and retained earnings. It increased in 2019 by $148 million, bringing consolidated equity as a percentage of system assets to 6.64%. Equity is the leading indicator of the strength of the system; 6.64% tells members and potential members that Manitoba credit unions’ fundamentals are very strong. ​
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Credit Union Central of Manitoba
400 - 317 Donald Street
​R3B 2H4
​Winnipeg, MB
​

  • Home
  • Who We Are
    • Our Organization
    • Our History
  • What We Do
    • Our Services
    • Community Engagement
  • News
    • Annual Reports
    • Press Releases
    • Order of Merit >
      • 2017
      • 2016
      • 2015
      • 2014
      • 2013
      • 2012
      • 2011
      • 2010
      • 2008
      • 2007
      • 2006
      • 2005
      • 2004
      • 2003
  • Careers
  • Contact