2016 CREDIT UNION COMMUNITY & ECONOMIC IMPACT REPORT

2016 CREDIT UNION COMMUNITY & ECONOMIC IMPACT REPORT WELCOME

Canada’s credit unions More than 5.6 million Canadians have chosen a local credit union as their partner for day-to-day banking.

That’s because credit unions are on the same side as our members – helping support middle class families by keeping over $160 million in people’s pockets through lower fees and co-operative dividends. It’s also because credit unions are vital to a strong economy, providing nearly 28,000 direct jobs and contributing to over $6.5 billion in economic activity exclusively within Canada. Credit unions, along with other co-operative financial institutions, punch above our weight in support of small and medium sized businesses, with a share of SME lending equal to the largest of the big banks. Credit unions use a traditional banking model – taking deposits, issuing loans and helping make investments. But profits go back to members, not to institutional shareholders meaning credit unions help Canadians hold on to more of their money. And credit unions have a long history of innovative products and services, including the development of ATMs (which members can access free of charge), no fee chequing accounts, and most recently, Mobile Pay. 2 | 2016 CREDIT UNION COMMUNITY & ECONOMIC IMPACT REPORT

Canadians choose credit unions because of our hardearned reputation for exceptional customer service – unmatched by any of the banks for 12 straight years, and because of our support for local communities, having made more than $56 million in contributions in 2015. On average, credit unions’ contributions were equivalent to 5.7 per cent of pre tax profits, well above the industry best standard of one per cent. Credit unions have also been working with governments at all levels to address public policy challenges like providing affordable mainstream alternatives to payday loans and training front-line staff to intervene in instances of financial abuse of seniors. We’ve also found time to make history recently by incorporating Canada’s very first federal credit union – UNI Financial Cooperative.

Martha Durdin President and CEO Canadian Credit Union Association

2016 CREDIT UNION COMMUNITY & ECONOMIC IMPACT REPORT | 3

Canada’s credit unions are...

6

Canada’s credit unions Highlights, innovations, member service and statistics.

13 Strengthening Canada’s Economy Credit unions are helping to grow a strong Canadian economy by creating jobs, providing access to capital, and contributing tax revenues.

19 Keeping money in the pockets of more than 5.6 million Canadians Credit unions help Canadians keep money in their pockets by providing access to a national surcharge free ATM network, returning profits to members, and offering free or low cost financial products and services.

20 Helping main street and rural communities prosper Credit unions put members’ money to work locally in communities large and small by supporting small and medium-sized enterprises, providing access to capital for co-operatives and lending to farmers.

24 Putting people before profit

31 Partnering for public policy solutions Credit unions are working with local, provincial and national governments to address pressing public policy issues, ranging from helping people manage debt through financial literacy, to supporting access to capital for small businesses and farmer, and helping people to avoid the payday borrowing trap.

Credit unions have a unique way of doing business: money left over at the end of the year goes directly back to community to an extent that exceeds industry standards.

4 | 2016 CREDIT UNION COMMUNITY & ECONOMIC IMPACT REPORT


Canada’s 303 credit unions

Since 2008, credit unions have contributed more than $349 million to Canadian communities. In 2015, credit unions contributed $56.3 million through:

• Serve 5.6 million members (outside of Quebec)

• Directly employ nearly 28,000 Canadians

• Are governed by more than 2,800 volunteer directors

• And, more than a third of Canadian credit unions have achieved the international goal of a minimum of 30 per cent women on boards of directors

• Operate from more than 1,800 locations

• Are co-operative financial institutions governed by seven internationally recognized cooperative principles

• Contribute over $6.5 billion directly and indirectly to Canada’s GDP

$24.7M

$16.5M

DONATIONS

SPONSORSHIPS

$8.0M

FINANCIAL SERVICES TO 58,363 COMMUNITY ORGANIZATIONS

• Are the only financial institution operating in 380 Canadian communities

How we do banking: Supporting the Real Economy

Credit unions use a traditional banking model – taking deposits and issuing loans. Credit unions keep money local by lending to help create goods and services in the real economy. The real economy refers to economic activities that generate goods and services as opposed to the financial economy that is concerned with activities in the financial markets. In 2015, nearly 84 per cent of credit union and caisse populaires assets were dedicated to supporting the real economy through loans to consumers and Main Street businesses, compared to 70 per cent for chartered banks.

$2.8M

DONATIONS -IN-KIND

$2.0M

1,951 CREDIT UNION SCHOLARSHIPS & BURSARIES

$1.8M

CREDIT UNION CHARITABLE FOUNDATIONS

$440K

ENDOWMENT FUNDS

In 2015, 5.7 per cent of credit union pre-tax income went to community donations, compared to one per cent on average for the big banks. Note: Numbers do not add up to total due to rounding



A proud history of credit union innovation in Canada

1901 First loans based on a borrower’s character

1933 First payroll deduction service for deposits and loan payments

1959 First open mortgages in Canada

1977 First full-service ATMS

1961

1967

First financial institutions to lend to women in their own names

First to offer daily interest savings

1980

1982

First home equity lines of credit

First debit card service

1988

1986

First registered education plans

First ethically screened mutual funds

1996

First branchless bank

1995 First fully functional online banking

2013 First mobile cheque deposit app

2014 First social impact bond publicly launched in Canada

2014

2016 First socially responsible GICs in Canada

2016 CREDIT UNION COMMUNITY & ECONOMIC IMPACT REPORT

2016 First to offer mobile pay in Canada

First loans offered as an alternative to payday lenders

Canadians rank credit unions FIRST for customer service for 12th year running Credit union innovation: Wearable payment technology is here The winner of the 2016 National Credit Union Innovation Award is…

First West Credit Union for their new and innovative wearable payment technology, Dashband™. This outstanding product is the first wearable payment system in Canada, enabling members to pay for products and services that are under $50 with a simple tap of their wrist, at any contactless payment point-of-sale system. It is durable, sporty-looking, and includes an embedded prepaid reloadable Visa chip card. The Dashband aligns with First West Credit Union’s brand essence “keeping it simple” and has a significant number of security features that protect a member’s funds.

Canadians have ranked credit unions first in overall Customer Service Excellence and in Branch Service Excellence among all financial institutions. Credit unions were also awarded sole honours for the Values My Business award for the eighth year in a row. In total, Canada’s credit unions received a record number of nine awards in the annual 2016 Ipsos® Best Banking Awards.

BestBanking 2016

BestBanking 2016

CUSTOM ERSERVICE EXCELLENCE

2016

VALUESMY BUSINESS

First for Customer Service Excellence

First for Branch Service Excellence

First for Values My Business

First for Live Agent Telephone Banking Excellence

(12th consecutive year)



(1rst year individual winner; 4th year winner, tied for three previous years)

BestBanking 2016

Martha Durdin, President and CEO of Canadian Credit Union Association, Bryan Mavrow, Senior Vice-President, Marketing of First West Credit Union accepts the 2016 National Credit Union Innovation Award and Daniel Burns, former chair, Credit Union Central of Canada.

BestBanking

BRANCH SERVICE EXCELLENCE

BestBanking

BestBanking 2016

MO BILEBANKING EXCELLENCE

2015 16

FI NANCIAL PLANNING &ADVICE

ATM BANKING EXCELLENCE

BestBanking 2016

ON LI NE BANKING EXCELLENCE

Winner (tied) for Mobile Banking Excellence

Winner (tied) for Financial Planning and Advice

Winner (tied) for ATM Banking Excellence

Winner (tied) for Online Banking Excellence

(2nd time)


(2nd consecutive year)

(2nd consecutive year)

Winner (tied) for Automated Telephone Banking Excellence

BestBanking 2016


AUTOMA TED TELEPHON E BANKING EXCELLENCE

(4th consecutive year [note: prior to 2013 there was a single Award for total Telephone Banking, which the credit union system shared each year from 2008 to 2012])


Canadian credit union and caisses populaires sector

Strengthening Canada’s Economy

Second Quarter, 2016

Operating in 10 provinces 10.2 million members (29% of population)

Credit unions add $6.5 billion to Canada’s economic growth

$358 billion in assets

42 27

9

35 46

300

102

27 25

Independent provincially-chartered credit unions and caisses populaires

7

Desjardins Group

Credit unions Members % pop. Assets ($M)

BC

AB

SK

MB

ON

QC

NB

NS

PEI

NL

42

27

46

35

102

300

25

27

7

9

1,935,275

620,615

472,447

647,939

1,603,720

4,406,607

221,909

148,078

50,383

53,943

41.1%

14.7%

41.4%

49.7%

11.6%

53.1%

29.4%

15.7%

34.3%

10.2%

$69,839

$24,085

$21,176

$28,025

$49,303

$157,042

$4,444

$2,365

$988

$1,201

DIRECT IMPACT

INDIRECT IMPACT

INCOME IMPACT

DIVIDEND IMPACT

Credit union operations

Services supplied to credit unions by other firms

Effect of employee wages

Effect of dividends paid to credit union members

27,687 full-time jobs $3.4 billion in GDP

TOTAL:


58,003

FULL-TIME JOBS


977 full-time jobs $117 million in GDP

$6.5B

IN GDP IMPACT

Notes: National and Quebec figures include Desjardins Group Ontario numbers include 13 Desjardins Group caisses populaires and four non-CCUA affliated credit unions. Yukon, Northwest Territories and Nunavut do not currently have credit union legislation in force. UNI Financial Cooperation became a federal credit union in the Third Quarter, 2016. As a result, there is now one federal credit union and 10 provincial credit unions in New Brunswick.



Strengthening Canada’s Economy Keeping money in Canadian communities

Credit unions are different. We keep profits working close to home – not Bay Street or overseas. In 2015, credit unions retained $673 million in net income to support future growth and make community investments. We paid $160 million in dividends and rewards to members for using credit union services (known as patronage), and paid $149 million in taxes to local, provincial and federal governments.

Creating more Canadian jobs

Good wages make for strong local economies and credit unions.

Credit unions are making a commitment to pay a good wage. So far ten credit unions are taking part in the Living Wage campaign: a commitment employers are making to pay wages that meet or exceed a locally calculated cost of living, and are working with suppliers to do the same.

Dollar for dollar, credit unions create almost twice as many jobs as Canada’s largest banks. For every million dollar of gross output, credit unions create a total of 14.5 jobs in Canada, compared to 8.4 for banks.

Jobs created by credit union output

Supporting the economy through tough times

Keeping your money local ($M) $149M

Good work at a good wage

Year-over-year in growth in loans outstanding ($B)

$12.0

$160M

Jobs created by bank output

$982M

$10.0 $8.0 $6.0 $4.0 $2.0

WHAT’S OUTPUT?

$673M NET INCOME AFTER DIVIDENDS AND TAXES

DIVIDENDS AND PATRONAGE

INCOME TAX


It is a financial institution’s fee plus margin income (the difference between interest earned from loans and interest paid on deposits).

$0.0

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Credit unions are reliable lenders even through difficult economic times. Even during the 2008 – 2009 financial crisis, credit union lending kept a pace similar to 2004, a year of strong economic growth. As Canada recovered, credit union loan growth increased sharply. 2016 CREDIT UNION COMMUNITY & ECONOMIC IMPACT REPORT | 15

Strengthening Canada’s Economy Largest lenders to co-operatives

As co-operatives ourselves, credit unions know the impact co-operative businesses can have to create jobs, generate tax revenue and meet the needs of millions of Canadians in communities large and small. In 2015, credit unions and caisse populaires were the source of funds for more than 73 per cent of co-operatives that received debt financing – the type of financing most often requested by co-operatives.

Provide small businesses and members with access to vital capital

In 2015, credit union lending activity grew by 8.3 per cent to support the needs of local small and medium-sized enterprises and consumers.

$157.77 B

Providers of debt financing received by co-operatives (%) %

80

2015

73.2%

70 60 50

$145.74 B

40

23.5%

30 20

9.2%

10 0

2014

CREDIT UNIONS OR CAISSES POLULAIRES

CANADIAN CHARTERED BANKS

8.3%

INCREASE

COMING SOON

GOVERNMENT INSTITUTIONS

Note: Numbers will not add up to 100 per cent as some co-operatives seek financing from multiple sources.



Secure and prudent lenders

Loan losses as a percent of total loans is a key indicator of the quality of lending, and ultimately, financial stability. During good economic times and bad, Canada’s credit unions consistently outperform their bank competitors in making high quality loans.

Loan losses as percent of total loans

Credit Union Versus the Big Six Banks, 1996-2015

% 2.0 1.8 1.6 1.4

Keeping money in the pockets of more than 5.6 million Canadians Credit unions exist to provide excellent products and services at a low cost. This approach means that credit unions can help Canadians hold on to more of their money. 4,100 SURCHARGE FREE ATMS

1.2 1.0 0.8 0.6 0.4 0.2 0.0

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Across Canada, members can access surcharge free ATMs through THE EXCHANGE and ACCULINK networks.

CREDIT UNIONS

AVERAGE % OF SIX BANKS

Stable co-operative financial institutions

FREE CHEQUING ACCOUNTS More than 72 per cent of credit unions provide free chequing accounts to credit union members, including seniors, students and vulnerable Canadians.

RETURNED $160 MILLION TO MEMBERS

The business of banking is the business of leverage. More leverage generally signals higher risk but also possibly higher rewards. But because we care about our members and their money, the co-operative financial institution sector has over the last ten years been less leveraged than our bank competitors, demonstrating a more conservative approach.

Comparable leverage

%

18.00

$24 MILLION SAVED

16.00 14.00 12.00 10.00 8.00 6.00 4.00 2.00 0.00

2005

2006

2007

2008

2009

2010

2011

BANKING & OTHER DEPOSITORY CREDIT INTERMEDIATION


2012

2013

2014

Members saved nearly $24 million on ATM fees by using THE EXCHANGE and ACCULINK networks.

In 2015, credit unions returned $160 million of their profits to members, on top of making community investments.

That works out to an average of $28.50 in cash for each of our 5.6 million credit union members.

CO-OP FIs


Helping main street and rural communities prosper The leader in small business lending

Together, credit unions and caisses populaires are responsible for 18.5 per cent of lending to small and medium-sized businesses – a share as large as any of the big banks.

Small business lending market share in Canada 8.1%

Filling a void for small business lending

Credit unions and caisses populaires are the second largest lenders for entrepreneurs and small and medium sized enterprises through the federal Canada Small Business Financing Program.

Value of Canada Small Business Financing Program loans ($M) 2015

$66M

$857.7M

18.5%

3.5%

18.6%

8%

16.7%

13.5%

CREDIT UNIONS & CAISSES POPULAIRES SCOTIABANK

TD

BMO

15.4%

$215.9M

17.9% RBC CIBC

RBC OTHER


CREDIT UNIONS & CAISSES POPULAIRES

SCOTIABANK

BMO

NATIONAL BANK

TD CIBC

ATB FINANCIAL LAURENTIAN

Credit unions support more than 380 small markets where we provide access to financial services as the only financial institution in town.

(Based on all deposit-taking institutions)

$92.5M 16.5%

Supporting rural communities and farmers

Mortgage lending market share 2015

7.9% $316M

$76.5M

10.7%

Credit unions are among the largest lenders to homeowners. In 2015, credit unions and caisses populaires kept pace with some of the largest banks, holding 16 per cent of the mortgage market.

$14.9M $14.4M $2.5M $56.2M

18.5%

9.8%

Supporting home ownership

RBC

TD

SCOTIABANK

Credit unions hold approximately 35 per cent of all AgriInvest deposits. The federal AgriInvest program helps farmers plan by matching funds they set aside in dedicated accounts. Approximately $670 million in AgriInvest deposits are held at credit unions.

16.3% CREDIT UNIONS & CAISSES POPULAIRES CIBC

OTHER

BMO

NATIONAL BANK


Helping main street and rural communities prosper Supporting rural communities and farmers Credit unions support farmers by issuing 3.2 times more agricultural loans, relative to asset size, than chartered banks in Canada.

Credit unions are considered reliable lenders to farmers in good times and in bad Agricultural market lending share (Outside of Quebec)

In 2015, credit unions partnered with Farm Credit Canada (FCC) to provide more than $65 million in cocredit lending to farmers and agri-businesses. By Q2 of 2016, co-credit lending had already reached $70 million.

2015

Q2 2016

%

60 50

In 2015, credit unions were responsible for nearly 92 per cent of all loans issued under the Canadian Agricultural Loan Act (CALA), holding almost 85 per cent of the dollar value of CALA loans ($78.7 million). The CALA program is a federal loan guarantee program to provide farmers with better access to credit to establish, improve and develop farms.

40 30 20 10 0

1995

2000

2005

2010

2015

Banks

43.4

48.5

43.8

37.3

38.6

Farm Credit Canada

15.9

17.5

24.5

30.6

28.9

Credit Unions

8.9

9.9

11.4

10.8

10.4



Putting people before profits Credit unions are different from other financial institutions. Profits are invested back into the community in a number of ways, including contributions to charitable foundations. Net income is also put towards community impact like supporting financial literacy education and social finance innovation.

Volunteering is another way credit union staff support their communities

In 2015, credit unions contributed:

$440K

$24.7M

ENDOWMENT FUNDS

DONATIONS

TOTAL:

$56.3M $16.5M

CREDIT UNION CHARITABLE FOUNDATIONS

$2.0M

FINANCIAL SERVICES (REDUCED OR WAIVED SERVICE CHARGES) TO 58,363 COMMUNITY ORGANIZATIONS

1,951 CREDIT UNION SCHOLARSHIPS & BURSARIES

$2.8M

DONATIONS-IN-KIND

In 2015, 80 per cent of credit unions reported that their employees used their own FREE TIME to represent the credit union at community activities and organizations.

$1.8M

SPONSORSHIPS

$8.0M

In 2015, 72 per cent of credit unions enabled employees to participate in voluntary activities as part of their PAID WORK.

HOURS CONTRIBUTED IN TOTAL AS PART OF PAID WORK

HOURS CONTRIBUTED BY EMPLOYEES DURING THEIR UNPAID TIME OFF

Forty four per cent of credit unions evaluate employees’ performance based on participation in community activities and/or organizations representing the credit union. This is up from 42 per cent from last year.

Note: Numbers do not add up to total due to rounding



Putting people before profits Supporting international co-operative development

Tackling social and environmental challenges through finance

The world is our community. In 2015, Canadian credit unions contributed $1.04 million and 3,742 hours of volunteer time to Co-operative Development Foundation of Canada (CDF) helping to develop credit unions and co-operatives world-wide. One example is CDF’s Women’s Mentorship Program that matches women credit union managers from around the world with colleagues in Canada for 10 days of intense, face-to-face leadership training and professional development.

Investment can generate a return while doing good in the world. That’s the idea behind social finance - a transformational approach that brings the aims of philanthropy together with the mechanics of conventional financing. Canada’s credit unions are social finance leaders providing micro-loans to underserved entrepreneurs, loans linked to good environmental outcomes, or to businesses that are addressing pressing social and environmental challenges.

How do credit unions practice social finance?

The social finance approach is applied to credit unions’ activities and product offerings to generate a positive social and/or environmental impact as well as a financial return for the institution and their members. Credit unions can be engaged in social finance both directly and indirectly.

Many credit unions practice social finance directly by offering their own products that are aligned to social or environmental outcomes, like “eco-loans”, preferential rates on loans to entice members to, for instance, purchase a low-emissions vehicle or a high-efficiency home appliance. Another direct form of social finance is granting a loan to for-profit businesses, co-operatives, charities, or non-profits whose activities have a social and/or environmental purpose. Credit unions also practice social finance indirectly by offering socially responsible investment products to members through other partners.

Practical research is helping credit unions take the lead in impact investing 2016 Women’s Mentorship Program participants meeting with representatives from CCUA and CDF.

The product of a collaboration among credit unions and social finance experts, this new guidebook offers credit unions of all sizes advice, ideas and guidance on how to create retail products that will offer a good return for members and have demonstrable, positive impacts in their communities.

Retail Impact Investing

A Guidebook for CAnAdiAn Credit unions

www.impactinvesting.ca



Putting people before profits Financial literacy is at the core of Canadian’s financial well-being

First socially responsible investment certificates in Canada The winner of the 2016 Credit Union Social Responsibility Award is…

Preventing financial abuse of older adults

Kindred Credit Union (formerly Mennonite Savings and Credit Union) for being the first Canadian financial institution to validate all GICs as socially responsible investments (SRI). Working with Sustainalytics, a leading global provider of environmental, social and corporate governance research and ratings, Kindred Credit Union developed a values-based process and a best-in-class social and environmental screening approach to lending decisions. With the screens in place, all of the credit union’s GICs become SRI validated.

Over the fall of 2016, the Canadian Credit Union Association and Vancity Credit Union worked to pilot Each One, Teach One financial literacy across Canada, training 103 credit union staff as certified Each One, Teach One Coaches from 59 credit unions. Each One, Teach One is an award winning financial literacy program that trains employees of financial institutions to deliver basic financial skills workshops in community settings.


Canadian credit unions continue work that began in 2014 to provide employees with the skills and training to prevent and protect against financial abuse of older adults. The program, Financial Abuse of Older Adults: Recognize, Review and Respond, equips credit union employees to recognize and prevent financial abuse of seniors. Since the course launched in 2014, 2,972 credit union employees have registered to take the course.

Screens work by identifing and potentially excluding companies whose business involves tobacco, gambling, and alcohol or those businesses that have a negative impact on the environment, human rights, or animal welfare.

Martha Durdin, President and CEO of Canadian Credit Union Association, Brent Zorgdrager, President and CEO of Kindred Credit Union (formerly Mennonite Savings and Credit Union) accepts the 2016 National Credit Union Award and Daniel Burns, former chair, Credit Union Central of Canada.

This approach allows Kindred Credit Union to offer loans and investments that connect values and faith with finances inspiring peaceful, just, and prosperous communities. For their work to advance social responsible investment options for their members, Kindred Credit Union was the recipient of the Canadian Credit Union Association’s 2016 Credit Union Social Responsibility Award.


Putting people before profits

Partnering for public policy solutions

Credit unions power community economic development

In 2015, Canadian credit unions partnered with governments to tackle pressing public policy issues including:

The winner of the 2016 Community Economic Development Award is…

Assiniboine Credit Union for empowering community members to meet their own financial service needs. In 2012, after watching banks leave and fringe lenders fill the gap in Winnipeg’s North End, one of Winnipeg’s lowest-income neighbourhoods, Assiniboine stepped in and opened a new branch to serve residents, businesses and non-profit organizations in this community. The impact of the North End Branch was immediate. Since opening in January of 2012, 1,315 individuals have become members of the branch. These people, many of whom had to rely on fringe or black market lenders, are now able to access locally-owned, reliable and affordable financial services right in their community. For Assiniboine Credit Union’s work to provide access to affordable services, Assiniboine was awarded the Canadian Credit Union Association’s 2016 Community Economic Development Award, celebrating efforts to build and strengthen local communities. As memberowned and operated financial institutions, this deep commitment to community well-being is part of what makes credit unions different.


Helping to foster a strong small business and entrepreneurial sector through the federal Canada Small Business Financing Program Working collaboratively with Farm Credit Canada to provide access to capital for farmers Providing social finance solutions to help address pressing social, environmental and ethical issues

Providing credit-union led financial literacy in Canadian communities

Helping farmers make investments and set aside rainy day funds through the federal AgriInvest program

Providing loans to federal election candidates to accommodate the new restrictions on election loans

Being among the first in the private sector to commit to honour the Truth and Reconciliation Commission’s recommendations concerning Indigenous peoples Working to achieve an international goal of having a minimum of 30 per cent women on boards of directors

Helping farmers to establish, improve and develop farms through the Canadian Agricultural Loan Act


Sources PAGE 6

Canada’s 303 credit unions • Canadian Credit Union Association • Canadian Credit Union Association, Community Involvement Survey for the 2015 fiscal year, National Results. • Conference Board of Canada, The Economic Footprint of Canada’s Credit Unions, August 2016. How we do banking • As informed by: Global Alliance for Banking on Values. Real Economy – Real Returns: The Power of Sustainability-Focused Banking, 2015. • Credit unions and caisse populaires includes Desjardins system. Canadian Credit Union Association, Second Quarter 2016, Credit Union and Caisse Populaire System Results. 2016.

PAGE 7 • •

Canadian Credit Union Association, Community Involvement Survey for the 2015 fiscal year, National Results. Percentage of pre-tax profits are based on 2015 Public Accountability Statements from six largest banks in Canada and Canadian Credit Union Association, Second Quarter 2016, Credit Union and Caisse Populaire System Results. 2016.

PAGE 13 •

PAGE 14

Keeping money in Canadian communities • Canadian Credit Union Association

PAGE 19

Creating more Canadian jobs • Conference Board of Canada, The Economic Footprint of Canada’s Credit Unions, August 2016.

PAGE 20

PAGE 15

Living Wage Campaign • Living Wage Canada: www.livingwagecanada.ca

PAGE 11 •

2016 Ipsos Customer Service Index

PAGE 12 •

•

Credit unions and caisse populaires includes Desjardins system. Canadian Credit Union Association, Second Quarter 2016, Credit Union and Caisse Populaire System Results. 2016. Note: UNI Financial Cooperation became a federal credit union in the Third Quarter, 2016. As a result, there is now one federal credit union and 10 provincial credit unions in New Brunswick.


•

Canadian Credit Union Association

Small business market lending share • Canadian Federation of Independent Business, SME Bank Market Share, August 2016.

Year-over-year in growth outstanding • Canadian Credit Union Association

Value of Canada Small Business Financing Program Loans • Note: Totals might be slightly off as a result of rounding. • Industry Canada, Canada Small Business Financing Program: Quarterly Distribution of Registered loans by Lenders and by Provinces of Borrowers, January 1, 2015 – December 31, 2015.

PAGE 16

PAGE 21

•

PAGE 8

History of credit union innovation • Canadian Credit Union Association and World Council of Credit Unions (woccu.org).

Conference Board of Canada, The Economic Footprint of Canada’s Credit Unions, August 2016.

Comparable leverage • Statistics Canada, Table 180-0003 Financial and taxation statistics for enterprises, by North American Industry Classification System (NAICS), annual (dollars x 1,000,000)

Statistics Canada, Survey on Financing and Growth of Small and Medium Sized Enterprises, 2014. As cited in: Innovation, Science and Economic Development Canada, SME Profile: Co-operatives in Canada, 2016.

PAGE 17 • •

Canadian Credit Union Association Note: The jump between 2014 and 2015 is largely due to new caisses joining the system. Without these new additions, lending activity grew by 5.7 per cent in 2015.

PAGE 18

Loan Losses as Percent of Total Loans • Canadian Credit Union Association • PriceWaterHouseCoopers, Perspectives on the Canadian banking industry, 1996 – 2015. • Note: Total loans does not include securities purchased under resale agreement and customers’ liability under acceptances.

Mortgage lending market share 2015 • Canadian Credit Union Association. Credit union and caisse populaire percent of market share includes Desjardins. AgriInvest • Agriculture and Agri-food Canada, AgriInvest Administration, January 2012. This is the last available disaggregated data comparing AgriInvest deposits at different financial institutions.

PAGE 22

Supporting rural communities and farmers • Statistics Canada, Table 002-0008, Farm debt outstanding, classified by lender, annual, 2015.

PAGE 23 •

Canadian Credit Union Association

Canadian Agricultural Loan Act • Agriculture and Agri-Foods Canada, Canadian Agricultural Loans Act Program, Lending Institute – Amount/Count by Province, April 2015 – March 2016.

PAGE 24

Putting people before profits • Canadian Credit Union Association, Community Involvement Survey for the 2015 fiscal year, National Results. • Note: Numbers do not add up due to rounding.

PAGE 25 •

Canadian Credit Union Association, Community Involvement Survey for the 2015 fiscal year, National Results.

PAGE 26 •

Photo credit: Co-operative Development Foundation

PAGE 27 •

•

Dominique Biron-Bordeleau, Canadian Credit Union Association, Social finance and credit unions: Differentiating by making a difference, 2013. The Retail Impact Investing Guidebook is available at: www.impactinvesting.ca

PAGE 28 •

Each One, Teach One image used with permission from Vancity Credit Union

Agricultural market lending share • Statistics Canada


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