Credit Unions

Topics: Credit union, Financial services, Bank Pages: 6 (1737 words) Published: January 14, 2009
Credit Unions are co-operative financial organizations offering a full range of financial services to Islanders. Each Credit Union is autonomous, operated by management appointed by its Board of Directors. On Prince Edward Island there are 10 Credit Unions, with 15 locations across the Island. Each Credit Union is part of a strong national financial system that holds more than $66 billion dollars in assets. Yet Credit Unions have local interests at heart and put service first. Credit Union members have the best of both worlds big and small.

Credit Unions have a long history on Prince Edward Island with the first Credit Union being established over 65 years ago, with only 15 members and assets of $30. Today they have grown to serve over 60,000 members with more than 1/2 billion dollars in assets.

All Credit Unions belong to a co-operative network that work together provincially, nationally and internationally to enhance operations and provide members with a full range of financial products and services. Through the network, Credit Unions have access to credit card services; trust services, wealth management, financial planning services and insurance services.

While Credit Unions have long been recognized for their superior customer service and commitment to community, they have also been leaders in innovation within the financial sector, constantly striving to enhance the product and service offerings to members. This has led Credit Unions to be the forerunner in offering many new products over the years, including no fee RRSPs, open mortgages, personal line of credits and automated teller machines.

Credit Unions offer members the security of knowing their deposits are protected. All Prince Edward Island Credit Unions are members of the Credit Union Deposit Insurance Corporation.

Prince Edward Island Credit Unions are in business to enhance the financial well being of our members and to provide sound financial advice and outstanding service. As a team, we will be the member’s first choice for financial service.

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Why Choose a Credit Union?
Professional Service
Superior service goes without saying; it’s how we run our business. Credit Union professionals are highly skilled in their areas of expertise and are pleased to assist you with any financial questions or concerns you may have. Staff is committed to achieving and maintaining their industry designations to ensure they can offer the most up-to-date information on investment trends and financial service products.

Your Choice
Bank the way you choose - whether you want to be served in person or on-line, we offer the options that suit you best.

Community Minded
Credit Unions were formed to help ensure the viability of communities – a concept that still exists today. The Credit Union system is the largest financial institution network on PEI with 15 locations from East to West.

Globally Connected
All Credit Unions belong to a co-operative network that work together provincially, nationally and internationally to enhance operations and provide members with a full range of financial products and services. The national network services more than 4.6 million Canadians, through more than 1,800 locations across the country.

As a Credit Union member, you are eligible for an annual dividend based on the earnings of the Credit Union and the current market rates. Your membership also gives you voting rights at the annual meeting of the Credit Union, allowing you to have a say in what we do.

Return to Top {draw:rect} {text:bookmark-start} {text:bookmark-end} History
In the 1930’s the Great Depression brought hard times to North America, including the Maritime Provinces. The Maritimes’ rural communities were declining. "Men were out of work and hungry; and crops could not find a market. Workers’ skills were rusting with disuse; the...
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