Service NL
October 15, 2015
Local Financial Services Supporting People and Communities
Minister Recognizes International Credit Union Day
The Honourable Dan Crummell, Minister of Service NL, joined credit unions throughout Newfoundland and Labrador today in recognizing October 15 as International Credit Union Day. This year's theme, People Helping People, aims to highlight the positive impact credit unions make with the service they provide.
"Credit unions have been providing valuable financial services to their members in Newfoundland and Labrador for years, including many rural areas of the province. The success of credit unions in our province is reflective of how the provincial economy has grown and evolved, and I am pleased to recognize their contributions on this occasion."
- The Honourable Dan Crummell, Minister of Service NL
Credit unions are an important part of our financial services industry and economy:
- There are currently nine credit unions with 37 service locations operating throughout Newfoundland and Labrador.
- Membership in credit unions for 2015 was nearly 61,000, which is more than 11 per cent of the population of Newfoundland and Labrador.
- Over 300 people, including 200 living in rural areas of the province, are employed through the credit union system, which provides $20 million annually in salaries and benefits.
Credit unions are regulated by both the Provincial Government and the Credit Union Deposit Guarantee Corporation to ensure government legislation and sound business practices are followed.
QUICK FACTS:
- The Provincial Government is recognizing Thursday, October 15, as International Credit Union Day in Newfoundland and Labrador.
- 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 fundraisers and open houses.
- Currently, the total assets of these credit unions are $1.144 billion, and that number has been growing in excess of six per cent annually.
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Media contact:
| Jason Card
Director of Communications Service NL 709-729-4860, 699-0470 jasoncard@gov.nl.ca |
2015 10 15 12:20 p.m.