The Largest 100 Credit Unions / Caisses Populaires

Second Quarter 2019

September 2019

Month day, year

Largest 100 Credit Unions and Caisses Populaires Second Quarter 2019

As of second quarter 2019, the 253 credit unions and caisses populaires outside of Quebec1 reported combined consolidated assets2 of $248.8 billion, a six-month increase of 3.2 per cent over fourth quarter 2018.

The largest 100 credit unions reported slightly higher RANKING RANKING TOP 10 2Q19 4Q18 CREDIT UNIONS growth in combined consolidated assets than the 1 1 entire sector. At second 2 2 quarter 2019, the largest 100 3 3 credit unions recorded a six- 4 4 month gain of 3.4 per cent. 5 5 First West Credit Consolidated assets reached 6 6 $231 billion. The top 100 7 7 credit unions account for 92.8 8 9 per cent of the total credit 9 10 & Credit Union union sector consolidated 10 8 Connect First Credit Union assets in the country (excluding Quebec), as amalgamations continue to increase this group’s proportion of sector assets.

The appearance of the largest ten credit unions changed somewhat from six months ago. Affinity Credit Union and Alterna Savings & Credit Union moved up to eighth and ninth position, respectively, while Connect First Credit Union moved to tenth position. This group experienced modest six-month growth of 2.5 per cent since year-end 2018, representing 47.8 per cent of the credit union sector’s assets. The largest ten credit unions had combined assets of close to $118.9 billion – an increase of $2.9 billion from the $116 billion recorded at fourth quarter 2018.

A further breakdown shows the five largest credit unions with gains in consolidated assets of 2.2 per cent for the six-month period. This small group of credit unions account for 35.7 per cent of all sector assets in the country (excluding Quebec), with combined consolidated assets of $88.7 billion.

Credit unions ranked in the 11 to 100 group recorded the strongest gains in consolidated assets with a six-month growth rate of 4.4 per cent. Sector assets outside of the top 100 credit unions experienced a marginal gain of 0.8 per cent.

1 The 253 credit unions and caisses populaires outside of Quebec represent CCUA affiliated credit unions and caisses populaires, as well as unaffiliated credit unions and caisses populaires. 2 As explained in Appendix A, CCUA now reports consolidated data for all of its affiliated credit unions. Prior to Fourth Quarter 2016, the top 100 credit union reports provided consolidated data for Atlantic Canada, , and Alberta. Comparable data were not available from B.C. and Ontario credit unions.

Regional representation on the list is as follows: B.C., 24; Alberta, 8; Saskatchewan, 10; Manitoba, 17; Ontario, 35; New Brunswick, 2; Nova Scotia, 2; P.E.I, 1 and Newfoundland, 1.

Largest Credit Unions' Assets (excluding Quebec) As a % of Total Sector Assets 100%

90% Largest 100 80%

70%

60% Largest 10 50%

40% Largest 11 - 100

30% Largest 5 20% Rest of System 10%

0% 2Q15 4Q15 2Q16 4Q16 2Q17 4Q17 2Q18 4Q18 2Q19

The Largest 100 Credit Unions/Caisses Populaires Report is published semi-annually by Canadian Credit Union Association. For editorial or general inquiries, please contact:

Sandra Brizland [email protected]

Canadian Credit Union Association 151 Yonge Street, Suite 1000, Toronto, ON M5C 2W7 Tel: (416) 232-3420 FAX: (416) 232-9196 www.ccua.com

©Canadian Credit Union Association, 2019. All Rights Reserved.

®HANDS & GLOBE Design is a registered certification mark owned by World Council of Credit Unions, used under license.

Appendix A

As indicated earlier, the second quarter 2019 largest 100 credit union/caisse populaire listing reflects consolidated assets of all CCUA-affiliated credit unions and caisses populaires, not only those in Atlantic Canada, Manitoba, Saskatchewan and Alberta. By “consolidated data,” we mean that the nominal figures reported in this document include all credit union subsidiaries. Prior to fourth quarter 2016, these data were unavailable for Ontario and British Columbia. Consolidated data for the eight unaffiliated Ontario caisses populaires listed in the largest 100 credit unions/caisses populaires are not available.

Due to the change in the data collection for the top 100 reports, the total sector assets reported in this document are not comparable to the combined sector assets reported in the National Sector Results report, Credit Union/Caisse Populaire Information Survey report, and the Regulatory Performance report.

To learn more about the methodology behind the collection of these data, feel free to contact Sandra Brizland at [email protected].

LARGEST 100 CREDIT UNIONS By Asset Size (Excluding Quebec)

Current Previous Rank Credit Union Province 2Q 2019 (1) Members Locations Rank

1 Vancity BC $22,908,404,000 508,933 59 1 2 Coast Capital Savings Federal Credit Union BC 19,788,501,693 577,426 52 2 3 Meridian Credit Union Limited ON 18,970,725,589 365,781 91 3 4 Servus Credit Union AB 16,386,725,090 384,376 102 4 5 BC 10,661,635,000 226,339 53 5 6 Conexus Credit Union SK 6,395,073,006 126,214 39 6 7 Steinbach Credit Union Limited MB 6,298,186,005 92,804 3 7 8 Affinity Credit Union SK 5,898,216,948 120,979 56 9 9 Alterna Savings and Credit Union Limited (2) ON 5,893,304,387 142,440 35 10 10 Connect First Credit Union Ltd AB 5,666,661,000 130,359 41 8 11 Limited MB 4,835,494,202 126,270 18 11 12 BlueShore Financial Credit Union BC 4,607,619,433 33,991 13 12 13 UNI Financial Cooperation NB 4,451,173,000 145,352 52 13 14 FirstOntario Credit Union Limited ON 4,420,690,000 125,175 32 14 15 DUCA Credit Union Limited ON 4,036,592,996 58,110 16 16 16 ON 4,008,238,029 106,089 31 18 17 Cambrian Credit Union MB 3,870,657,724 64,699 11 17 18 Prospera Credit Union BC 3,788,090,721 57,692 16 15 19 Westminster Savings Credit Union BC 3,524,264,854 56,549 15 19 20 (3) SK 2,829,787,738 55,235 25 20 21 MB 2,756,909,854 52,514 17 22 22 Coastal Community Credit Union BC 2,705,117,111 86,906 24 21 23 Windsor Family Credit Union ON 2,600,282,883 45,156 9 25 24 Crosstown Civic Credit Union Limited MB 2,535,824,361 30,956 9 24 25 Interior Savings Credit Union BC 2,531,492,171 69,097 21 23 26 G&F Financial Group BC 2,217,582,565 33,362 16 26 27 Sunova Credit Union Limited MB 2,118,295,982 47,963 15 27 28 Your Neighbourhood Credit Union ON 1,863,563,211 53,559 20 28 29 Kawartha Credit Union Limited ON 1,728,755,450 47,587 23 29 30 Caisse Populaire Alliance ON 1,651,951,403 54,741 29 30 31 CP Voyageurs ON 1,618,796,675 30,086 9 31 32 Caisse Financial Group MB 1,524,916,144 31,823 19 32 33 Northern Credit Union ON 1,520,134,214 74,903 32 33 34 Synergy Credit Union Ltd. SK 1,431,543,143 24,679 10 34 35 Westoba Credit Union Ltd. MB 1,349,908,092 37,088 16 35 36 Kindred Credit Union ON 1,290,272,021 23,345 8 36 37 Sunrise Credit Union Limited (4) MB 1,276,690,914 29,966 19 39 38 Kootenay Savings Credit Union BC 1,240,814,942 37,150 11 37 39 Tandia Financial Credit Union ON 1,205,830,751 29,562 14 41 40 CP Trillium ON 1,201,679,686 25,034 7 38 41 Cornerstone Credit Union Financial Group Limited SK 1,102,206,459 22,522 9 43 42 PACE Savings & Credit Union Limited ON 1,100,994,000 39,170 16 40 43 Fusion Credit Union Limited MB 1,096,429,715 30,501 18 42 44 Vision Credit Union Ltd. AB 1,094,560,914 22,113 16 44 45 CP Rideau-Vision ON 988,339,412 15,449 5 45 46 Noventis Credit Union Limited MB 946,317,459 26,594 11 46 47 Ukrainian Credit Union ON 898,651,015 28,035 18 47 48 Buduchnist Credit Union ON 892,474,204 20,177 9 48 49 BC 837,423,907 17,132 6 49 50 East Coast Credit Union NS 797,410,642 41,877 20 52 Results are as of Second Quarter 2019. Mergers occurring in Third Quarter 2019 are not reflected in the above ranking. Credit unions/caisse populaires listed in italics are not affiliated with CCUA. (1) CCUA-affiliated credit union data represent consolidated assets. Data do not reflect off-balance sheet activity. To learn more about the methodogy, please contact Sandra Brizland at [email protected] (2) Alterna Savings & Credit Union Ltd. (ON) - City Savings Credit Union merged with Alterna Savings & Credit Union Ltd., April 30, 2019 (3) Innovation Credit Union (SK) - Goodsoil Credit Union and Pierceland Credit Union merged with Innovation Credit Union, January 1, 2019 (4) Sunrise Credit Union (MB) - Strathclair Credit Union merged with Sunrise Credit Union, January 1, 2019

LARGEST 100 CREDIT UNIONS Current Previous Rank Credit Union Province 2Q 2019 (1) Members Locations Rank

51 IC Savings & Credit Union ON $796,712,396 18,262 7 53 52 Salmon Arm Savings and Credit Union BC 794,327,909 19,288 4 50 53 Integris Credit Union BC 769,615,902 27,751 7 51 54 Mainstreet Credit Union ON 760,849,250 22,587 12 56 55 Prairie Centre Credit Union Limited SK 757,020,743 15,146 14 54 56 Sunshine Coast Credit Union BC 734,327,393 17,364 3 57 57 TCU Financial Group Credit Union SK 725,670,967 13,663 5 55 58 CP Nouvel-Horizon ON 724,524,802 12,305 4 58 59 Entegra Credit Union Limited MB 701,018,421 15,935 4 59 60 Northern Savings Credit Union BC 658,338,033 15,096 4 62 61 PenFinancial Credit Union ON 655,912,743 19,219 8 61 62 1st Choice Savings and Credit Union AB 638,387,000 17,235 6 63 63 Newfoundland and Labrador Credit Union Ltd NL 615,418,389 20,441 12 64 64 Lakeland Credit Union AB 611,628,740 10,877 2 60 65 Stride Credit Union MB 605,446,771 15,685 7 65 66 Encompass Credit Union Ltd. AB 605,325,815 12,094 8 66 67 Credit Union Atlantic NS 572,485,000 20,347 8 68 68 Rosenort Credit Union Limited MB 544,085,188 6,108 3 70 69 Weyburn Credit Union Limited SK 540,744,818 8,185 3 67 70 Community Savings Credit Union BC 540,134,732 12,476 6 69 71 Diamond North Credit Union (5) SK 539,052,000 12,611 10 76 72 Carpathia Credit Union MB 494,623,686 8,043 6 71 73 Khalsa Credit Union BC 493,509,962 17,122 6 75 74 Comtech Fire Credit Union ON 489,848,824 14,441 8 72 75 St. Stanislaus-St. Casimir's Polish Parishes Credit Union Ltd. ON 483,685,232 16,263 8 73 76 Sharons Credit Union BC 474,053,365 12,934 5 77 77 CP Sud-Ouest ON 472,304,572 9,623 7 79 78 First Credit Union BC 467,860,693 11,660 5 78 79 Copperfin Credit Union ON 457,643,423 19,430 6 80 80 North Peace Savings and Credit Union BC 435,008,948 11,920 5 74 81 Sudbury Credit Union Limited ON 432,850,078 15,077 7 81 82 Bayview Credit Union Limited NB 412,569,846 25,729 8 83 83 Casera Credit Union MB 407,799,622 11,524 3 85 84 CP Cornwall ON 406,796,563 6,698 3 84 85 Provincial Credit Union PEI 405,826,827 14,992 4 87 86 Bulkley Valley Credit Union BC 401,685,150 14,300 4 86 87 AWCCU Financial ON 395,525,668 11,781 2 82 88 East Kootenay Community Credit Union BC 391,536,763 10,975 4 88 89 VantageOne Credit Union BC 384,175,033 11,253 6 89 90 Motor City Community Credit Union ON 360,826,866 12,054 4 91 91 Parama Credit Unin Limited ON 360,317,596 5,918 2 94 92 Rocky Credit Union Ltd. AB 359,570,725 6,941 1 90 93 Radius Credit Union Limited SK 353,437,212 4,717 7 92 94 Niverville Credit Union MB 349,769,857 8,594 3 95 95 CP Vallée ON 343,311,708 7,095 3 96 96 Bow Valley Credit Union AB 340,281,924 7,911 6 93 97 The Police Credit Union Limited ON 334,769,244 12,476 6 98 98 CP Hawkesbury ON 330,270,173 8,203 2 100 99 Your Credit Union Limited ON 327,040,448 11,834 6 97 100 Lake View Credit Union BC 326,875,058 9,645 3 99 $230,950,012,793 5,305,688 1,493 Results are as of Second Quarter 2019. Mergers occurring in Third Quarter 2019 are not reflected in the above ranking. Credit unions/caisse populaires listed in italics are not affiliated with CCUA. (5) Diamond North Credit Union (SK) - Debden Credit Union merged with Diamond North Credit Union, January 1, 2019