The Largest 100

Credit Unions / Caisses Populaires

Fourth Quarter 2019

March 2020
Largest 100 Credit Unions and Caisses Populaires
Fourth Quarter 2019

As of fourth quarter 2019, the 251 credit unions and caisses populaires outside of Quebec 1
reported combined consolidated assets 2 of $256.1 billion, a six-month increase of 2.97 per
cent over second quarter 2019.

The largest 100 credit unions

RANKING RANKING TOP 10
reported slightly higher
4Q19 2Q19 CREDIT UNIONS
growth in combined
consolidated assets than the 1 1 Vancity
entire sector. At fourth 2 3 Meridian Credit Union
quarter 2019, the largest 100 3 2 Coast Capital Savings Credit Union
credit unions recorded a six- 4 4 Servus Credit Union
month gain of 3.1 per cent. 5 5 First West Credit
Consolidated assets reached
6 7 Steinbach Credit Union Limited
$238.1 billion. The top 100
7 6 Conexus Credit Union
credit unions account for 93
8 9 Alterna Savings & Credit Union
per cent of the total credit
9 8 Affinity Credit Union
union sector consolidated
10 10 Connect First Credit Union
assets in the country
(excluding Quebec), as amalgamations continue to increase this group’s proportion of sector
assets.

There was some movement within the group of the largest ten credit unions. While the
credit unions in this group remained the same, the ranking changed from six months ago.
Based on consolidated assets, Meridian Credit Union is now the second largest credit union
in Canada, and in turn, Coast Capital Savings Federal Credit Union moved to the third
position. In addition, Steinbach Credit Union now ranks sixth, with Conexus Credit Union
shifting to seventh position. Finally, Alterna Savings and Credit Union has moved to the
eighth spot, with Affinity Credit Union now in the ninth position. This group experienced
six-month growth of 3.5 per cent since mid-end 2019, representing 48.1 per cent of the
credit union sector’s consolidated assets. The largest ten credit unions had combined assets
of close to $123.1 billion – an increase of $4.2 billion from the $119 billion recorded at
second quarter 2019.

A further breakdown shows the five largest credit unions with gains in consolidated assets of
3.4 per cent for the six-month period. This small group of credit unions account for 35.8

1
The 251 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, Manitoba,
Saskatchewan and Alberta. Comparable data were not available from B.C. and Ontario credit unions.
per cent of all sector assets in the country (excluding Quebec), with combined consolidated
assets of $91.7 billion.

Credit unions ranked in the 11 to 100 group recorded modest gains in consolidated assets
with a six-month growth rate of 2.7 per cent. Sector consolidated assets outside of the top
100 credit unions experienced a marginal gain of 1.0 per cent.

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

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
sbrizland@ccua.com

Canadian Credit Union Association

20 Queen St., Suite 2301 A, Toronto, ON M5H 3R3
Tel: (416) 232-3420 FAX: (416) 232-9196
www.ccua.com
 LARGEST 100 CREDIT UNIONS
By Asset Size (Excluding Quebec)
Current Previous
Rank Credit Union Province 4Q 2019 (1) Members Locations Rank

1 Vancity BC $23,157,368,178 513,247 59 1

2 Meridian Credit Union Limited ON 20,960,115,760 378,402 93 3
3 Coast Capital Savings Federal Credit Union BC 20,228,962,000 593,548 52 2
4 Servus Credit Union AB 16,307,585,000 376,617 101 4
5 First West Credit Union BC 11,034,834,000 228,566 53 5
6 Steinbach Credit Union Limited MB 6,933,719,980 94,790 3 7
7 Conexus Credit Union SK 6,548,752,486 127,978 30 6
8 Alterna Savings and Credit Union Limited ON 6,145,456,000 142,499 35 9
9 Affinity Credit Union SK 5,963,759,126 121,612 57 8
10 Connect First Credit Union Ltd AB 5,787,591,000 128,913 41 10
11 Assiniboine Credit Union Limited MB 4,970,871,139 126,133 17 11
12 BlueShore Financial Credit Union BC 4,783,340,000 34,218 13 12
13 FirstOntario Credit Union Limited ON 4,629,642,000 118,500 32 14
14 UNI Financial Cooperation NB 4,440,840,999 145,384 42 13
15 Libro Credit Union ON 4,235,232,000 106,790 34 16
16 DUCA Financial Services Credit Union Limited ON 4,056,453,000 61,578 16 15
17 Cambrian Credit Union MB 3,966,762,718 65,293 11 17
18 Prospera Credit Union BC 3,850,136,000 58,598 16 18
19 Westminster Savings Credit Union BC 3,593,899,715 56,157 15 19
20 Access Credit Union MB 2,858,574,067 52,906 17 21
21 Innovation Credit Union SK 2,792,517,483 55,939 25 20
22 Coastal Community Credit Union BC 2,742,905,454 86,554 24 22
23 Interior Savings Credit Union BC 2,607,434,480 68,332 21 25
24 Windsor Family Credit Union ON 2,605,123,686 46,993 10 23
25 Crosstown Civic Credit Union Limited MB 2,586,962,533 31,923 9 24
26 G&F Financial Group BC 2,329,209,687 34,202 16 26
27 Sunova Credit Union Limited MB 2,156,155,077 47,965 15 27
28 Your Neighbourhood Credit Union ON 1,943,232,816 51,412 19 28
29 CP Voyageurs ON 1,746,446,230 28,664 9 31
30 Kawartha Credit Union Limited ON 1,741,320,000 48,147 23 29
31 Caisse Populaire Alliance ON 1,698,581,981 55,201 30 30
32 Caisse Financial Group MB 1,606,192,008 31,696 19 32
33 Northern Credit Union ON 1,566,212,749 75,883 32 33
34 Synergy Credit Union Ltd. SK 1,420,924,995 24,655 10 34
35 Westoba Credit Union Ltd. MB 1,371,876,138 38,051 16 35
36 Kindred Credit Union ON 1,371,351,366 23,787 8 36
37 Sunrise Credit Union Limited MB 1,319,565,466 29,948 19 37
38 CP Trillium ON 1,283,618,105 24,952 7 40
39 Kootenay Savings Credit Union BC 1,271,661,718 36,784 11 38
40 Tandia Financial Credit Union ON 1,225,508,462 29,187 13 39
41 Vision Credit Union Ltd. AB 1,202,961,000 24,865 17 44
42 Fusion Credit Union Limited MB 1,124,045,559 30,333 18 43
43 PACE Savings & Credit Union Limited ON 1,111,561,785 39,226 16 42
44 CP Rideau-Vision ON 1,075,555,863 16,424 5 45
45 Cornerstone Credit Union Financial Group Limited SK 1,067,102,150 22,414 9 41
46 Noventis Credit Union Limited MB 961,775,912 26,547 12 46
47 Ukrainian Credit Union ON 921,530,155 24,697 18 47
48 Buduchnist Credit Union ON 884,953,617 20,012 9 48
49 Aldergrove Credit Union BC 855,620,113 17,338 6 49
50 East Coast Credit Union NS 847,951,080 42,623 18 50
Results are as of Fourth Quarter 2019. Mergers occurring in First Quarter 2020 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 sbrizland@ccua.com
 LARGEST 100 CREDIT UNIONS
Current Previous
Rank Credit Union Province 4Q 2019 (1) Members Locations Rank

51 IC Savings & Credit Union ON $808,476,429 18,826 8 51

52 Salmon Arm Savings and Credit Union BC 806,806,056 19,324 4 52
53 Integris Credit Union BC 789,592,261 27,733 7 53
54 CP Nouvel-Horizon ON 785,541,432 11,889 4 58
55 Mainstreet Credit Union ON 782,094,436 22,438 12 54
56 Prairie Centre Credit Union Limited SK 770,297,826 15,103 14 55
57 Sunshine Coast Credit Union BC 761,340,201 17,570 3 56
58 TCU Financial Group Credit Union SK 746,611,274 13,474 5 57
59 Entegra Credit Union Limited MB 703,988,384 16,074 4 59
60 PenFinancial Credit Union ON 663,723,870 19,094 8 61
61 Northern Savings Credit Union BC 633,052,465 14,916 4 60
62 Credit Union Atlantic NS 631,585,000 21,028 8 67
63 Stride Credit Union MB 623,115,246 15,710 7 65
64 Carpathia Credit Union (2) MB 621,792,521 10,136 6 72
65 Lakeland Credit Union AB 619,756,153 10,962 2 64
66 Newfoundland and Labrador Credit Union Ltd NL 617,223,125 20,318 12 63
67 1st Choice Savings and Credit Union AB 612,058,601 17,220 6 62
68 Community Savings Credit Union BC 560,445,104 12,514 6 70
69 Rosenort Credit Union Limited MB 559,020,943 6,267 3 68
70 Weyburn Credit Union Limited SK 555,825,285 8,351 3 69
71 Diamond North Credit Union SK 547,281,000 12,319 10 71
72 Khalsa Credit Union BC 510,931,307 17,601 6 73
73 Sharons Credit Union BC 509,250,379 13,323 5 76
74 Encompass Credit Union Ltd. AB 499,892,215 9,241 - 66
75 St. Stanislaus-St. Casimir's Polish Parishes Credit Union Ltd. ON 497,909,799 16,233 8 75
76 Copperfin Credit Union ON 487,785,549 19,566 6 79
77 CP Sud-Ouest ON 487,191,079 9,255 7 77
78 Comtech Fire Credit Union ON 483,661,598 14,112 8 74
79 First Credit Union BC 475,308,078 11,616 5 78
80 Sudbury Credit Union Limited ON 446,623,340 15,217 7 81
81 North Peace Savings and Credit Union BC 438,008,000 11,815 5 80
82 CP Cornwall ON 423,588,227 6,664 3 84
83 Casera Credit Union MB 423,009,701 11,495 3 83
84 Provincial Credit Union PE 415,918,155 14,873 3 85
85 Bayview Credit Union Limited NB 415,179,000 25,630 9 82
86 Bulkley Valley Credit Union BC 411,467,052 14,313 4 86
87 East Kootenay Community Credit Union BC 405,523,607 11,034 4 88
88 Pathwise Credit Union (3) ON 396,104,819 11,522 2 87
89 Parama Credit Unin Limited ON 382,225,157 6,036 2 91
90 Radius Credit Union Limited SK 380,288,462 4,758 7 93
91 VantageOne Credit Union BC 377,583,842 10,865 6 89
92 Niverville Credit Union MB 372,185,860 8,680 3 94
93 Rocky Credit Union Ltd. AB 370,754,374 6,905 1 92
94 Motor City Community Credit Union ON 370,134,610 12,018 4 90
95 CP Vallée ON 368,469,828 7,069 3 95
96 Bow Valley Credit Union AB 363,744,315 7,674 6 96
97 The Police Credit Union Limited ON 343,062,926 12,134 6 97
98 CP Hawkesbury ON 338,978,211 7,696 2 98
99 Williams Lake and District Credit Union BC 334,251,751 11,025 3 -
100 Your Credit Union Limited ON 324,802,236 11,525 6 99
$238,147,213,925 5,337,644 1,471
Results are as of Fourth Quarter 2019. Mergers occurring in First Quarter 2020 are not reflected in the above ranking.
Credit unions/caisse populaires listed in italics are not affiliated with CCUA.
(2) Carpathia Credit Union - North Winnipeg Credit Union merged with Carpathia Credit Union, July 1, 2019.
(3) Pathwise Credit Union - Name change from Auto Workers Community Credit Union, September 19, 2019.
Appendix A

As indicated earlier, the fourth 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 sbrizland@ccua.com.