Minister Celebrates Success of Credit Unions
on International Credit Union Day

Credit unions in Newfoundland and Labrador are celebrating International Credit Union Day today and reflecting on many achievements. The credit union system in this province has been a success story with growing membership and award-winning customer service. Most recently, credit unions in Newfoundland and Labrador have achieved $1 billion in assets.

“Credit unions are valuable contributors to communities in Newfoundland and Labrador,” said the Honourable Dan Crummell, Minister of Service NL. “I am very pleased that this year we can also celebrate that the credit union system has achieved $1 billion in assets. This is a significant achievement that all credit unions and their employees in this province can take pride in accomplishing.”

The credit union system in Newfoundland and Labrador has received numerous customer service excellence awards, and is continually looking for ways to deliver enhanced service to its members. Working collaboratively with the Credit Union Deposit Guarantee Corporation, the Provincial Government regulates credit unions to ensure governing legislation and sound business practices are followed.

“In total, 10 credit unions offer services to their members from 40 locations across the province,” said Minister Crummell. “With so many locations, banking kiosks and excellent mobile, online and telephone services, credit unions are leading the way in customer access.”

International Credit Union Day has been celebrated on the third Thursday of October since 1948. Credit Unions and associations celebrate the day with various events such as open houses.

- 30 -

Media contact:
Vanessa Colman-Sadd
Director of Communications
Department of Service NL
709-729-4860, 682-6593
vanessacolmansadd@gov.nl.ca 

2013 10 17             11:00 a.m.