the 2012 Largest Canadian Credit Union Analysis

Transcription

2012
Analysis of Canada’s
Largest Credit
Unions
For the period ending
December 31, 2012
Prepared by:
Bob Leshchyshen, MBA, CFA
October 2013
Analysis of Canada’s Largest Credit Unions in Canada
Table of Contents
Table of Contents…………………………………………………………………………………………………………………………………1
Introduction…………………………………………………………………………………………………………………………………………2
Executive Summary……………………………………………………………………………………………………………………………..4
Continued Strong Economic Growth in Canada…………………………………………………………………………………..6
Lending Activity – Residential Mortgages……………………………………………………………………………………… 8
Housing Market in Canada………………… …………………………………………………………………………………………11
Lending Activity - Consumer Credit…………………………………………..………………………………………………..….17
Canadian Credit Union System……………………………………………………………………………………..…………….… 21
Membership………………………………………………………………………………………………………………………………….25
Consolidation of Credit Unions……………………………………………………………………………………………………..26
Branch Network…………………………………………………………………………………………………………………………….26
Assets…………………………………………………………………………………………………………………………………………….27
Deposits and Savingss…………………………………………………………………………………………………………………….29
Loans……………………………………………………………………………………………………………………………………………..31
Overview of Credit Union System: Canada vs. United States……………………………………………………………..32
Credit Unions’ participation in the Brokerage Industry……………………………………………………………………….38
On-Line Deposit Taking Institutions…………………………………………………………………………………………………….51
Proposed Federal Credit Union Legislation………………………………………………………………………………………….56
Assets under Management………………………………………………………………………………………………………………….59
Recent Breakdown of Credit Unions by Auditors…………………………………………………………………………………65
APPENDIX I - LARGEST CREDIT UNIONS IN CANADA - TABLES………………………………………………………………70
BOB LESHCHYSHEN'S PROFILE……………………………………………………………………………………………………………232
2012 Credit Union Report
Page 1
Introduction
Thank you for purchasing or ordering my 2012 “Analysis of the Canada’s Largest Credit Unions”
report. This statistical report provides the reader with financial competitive analysis on 125 of
the largest credit unions in Canada (with assets in excess of $100 million). Last year, I had
provided financial information on 115 credit unions in my final report. More credit unions have
been willing to disclose their financial results and are posting them on their websites.
However, I was unable to obtain the financial statements from the following thirteen (13) credit
unions (each with assets in excess of $100 million):
1
2
3
4
5
6
7
8
9
10
11
12
13
Pincher Creek
OMISTA
PACE Savings
St. Stanislaus-St. Casmir's Polish Parishes
Momentum
Northern Lights
Hamilton Municpal Employees'
Kingston
Saugeen
Unigasco Community
Southwest Regional
Auto Workers Community
Metro
Pincher Creek
Moncton
Vaughan
Toronto
Hamilton
Thunder Bay
Hamilton
Kingston
Saugeen
Chatham
Sarnia
Oshawa
Charlottetown
Alberta
New Brunswick
Ontario
Ontario
Ontario
Ontario
Ontario
Ontario
Ontario
Ontario
Ontario
Ontario
PEI
I was only able to obtained condensed or summary financial statements for the following
twenty two (22) credit unions. You will note that each of these credit union’s names are in bold
and have an * after their name, which designates that only limited information was available
for those credit unions.
Although 22 credit unions or 17.6% of the largest credit unions in Canada only provide
summary condensed information, in total they represent only 3.6% of the total assets of the
largest credit unions in Canada.
Page 2
The following have only condensed summary information included in my report:
Summary Statements
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
Name of credit union
Your Neighbourhood *
Vanguard*
North Peace Savings*
Sharons*
Swan Valley*
The Police*
Crossroads*
Parama Lithuanian*
Prosperity One*
Plainsview*
Motor City Community*
Lambton Financial*
Williams Lake and District*
Oakbank*
Communication Technologies*
Revelstoke*
Momentum*
Healthcare & Municipal Employees'*
Education*
Ontario Provincial Police*
Biggar & District*
Ontario Civil Service*
Total
Location
Waterloo
Rossburn
Fort St. John
Vancouver
Swan River
Toronto
Canora
Toronto
Milton
Kipling
Windsor
Sarnia
Williams Lake
Oak Bank
Toronto
Revelstoke
Hamilton
Hamilton
Kitchener
Barrie
Biggar
Toronto
Total assets (125 credit unions)
Summary statements
Province
Ontario
Manitoba
British Columbia
British Columbia
Manitoba
Ontario
Saskatchewan
Ontario
Ontario
Saskatchewan
Ontario
Ontario
British Columbia
Manitoba
Ontario
British Columbia
Ontario
Ontario
Ontario
Ontario
Saskatchewan
Ontario
($Mils)
Assets
726
357
317
241
233
229
216
215
205
204
204
200
195
190
181
163
160
159
159
149
146
144
4,993
138,150
as a % of assets
3.6%
I would like to thank the CEOs and CFOs of the credit unions, who have supported this research
effort over the last ten years by providing their financial statement information and for
purchasing this report.
Should you find errors or omissions with respect to your credit union’s numbers please feel to
contact me. I will endeavour make any corrections.
Page 3
Executive Summary

The 2012 report includes 125 credit unions compared to 115 credit unions last year. The
125 credit unions represent 90.3% of the total movement’s assets compared to 90.5% in
the previous year.

The credit union system membership (not including the Caisses Populiares) has
increased by 166,241 to 4,490,830 in 2012.

The continued consolidation of the movement* has resulted in the 10 largest credit
unions accumulating assets of $73.5 billion representing 48.6% of total assets of the
movement compared to $67.8 billion or 48.0% of the movement in the previous year.
The 10 largest credit unions grew at 8.4% which is a slightly faster rate than the largest
credit union’s growth of 8.1% and faster than the total movement’s growth of 7.1%.

The 125 largest credit unions saw their assets grow by 8.1% in 2012 to $138.2 billion
compared $127.9 billion in 2011. These 125 credit unions grew by 11.2% in the previous
year.

The total movement’s assets increased by 7.1% in 2012 to $297.7 billion compared to
$277.9 billion in the previous year. The assets grew by 8.7% in the previous year. [see
page 27]

The number of credit unions in the total system declined by 83 credit unions primarily
due to mergers and amalgamations from 826 in 2011 to 743 in 2012. [see page 25]
While, the number of branches decreased from 3,162 in 2011 to 3,031 in 2012, a decline
of 131 branches. This is third year in row that the number of branches has declined. [see
page 26]

The total movement’s loans increased from $247.5 billion in 2011 to $228.4 billion in
2012, an increase of 8.4% compared to 7.7% in the previous year. [see page 31]

The largest credit union’s insured mortgage loan portfolio (only 51 credit unions
reported these figures) , stood at $6.4 billion representing 33.2% of the residential
mortgage portfolio compared to 51.3% for the large Canadian domestic banks.

While, deposits of the total movement increased by 6.1% from $229.1 billion in 2011 to
$246.9 billion in 2012, compared to an increase of 7.8% in the previous year. [see page
29]
Page 4

Despite the troubles in the Canadian economy in 2012, the credit quality of the
movement’s loan portfolio (as represented by the largest credit unions) remains very
favourable. The allowance as a percentage of gross loans for the 125 largest credit
unions decreased from 0.39% in 2011 to 0.35% in 2012. The gross impaired loans as a
percentage of total loans for the largest credit unions decreased to 0.59% compared to
0.76% in the previous year.

The near historical low interest rates , resulting in strong pressure on net interest
margins resulted in the largest credit unions experienced a lower level of profitability in
2012. The return on assets (ROA) decrease from 0.64% in 2011 to 0.55% in 2012,
primarily due to reduced net interest margin as a 5 of average assets (from 2.54% in
2011 to 2.36% in 2012) and lower other (investment) income as a % of average assets (
from 0.85% in 2011 to 0.74% in 2012).

The decline in net interest margin was partially offset by decline in operating expenses
as a % of average assets from 2.55% in 2011 to 2.37% in 2012. The productivity expense
ratio (operating expenses as a % of total operating revenue) increased to 76.4% in 2012
compared to 75.2% in 2011.

Credit unions rely on profitability to grow their capital. The majority of the movement’s
total capital is in retained earnings. Capital ratios are affected by balance sheet growth,
risk-weighting of growth, and profitability. The movement retains a portion of its annual
income to satisfy its capital plans. The remainder of the net earnings are allocated to its
members through the movement’s patronage program.

The movement returned $164.9 million to its members by way of patronage payments,
which represented 22.4% of its net income in 2012 compared to 22.4% in the previous
year. Total capital stood at $9.2 billion, which represented 6.67% of its assets compared
to 6.65% in 2011.

The movement had a total BIS risk adjusted ratio of 12.79% compared to 12.99% in the
previous year.
*Definition: “movement*” or” system*” in this report does not include the financial results of
caisses populaires system in Quebec, Ontario, Manitoba and New Brunswick.
*Definition: “total movement*” or” total system*” in this report includes the financial results
of caisses populaires system in Quebec, Ontario, Manitoba and New Brunswick.
Page 5
Economic Growth in Canada Slowed Substantially
Buffeted by the global economic crisis, the Canadian economy dropped into a sharp recession
in the final months of 2008, and Canada posted its first fiscal deficit in 2009 after 12 years of
surplus. During 2010, the Canadian economy experienced a significant increase of real gross
domestic product (GDP) of 5.8% compared to a decline of 4.1% in 2009, due to decreased
global demand and a highly valued Canadian dollar. During 2011, the Canadian economy saw
average GDP growth of 5.1%. In 2012, the GDP growth slowed again to 4.7%.
ECONOMIC STATISTICS
Durables
Growth
($Mils) Yr/yr
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
81,958
84,930
92,085
93,793
95,433
99,721
106,032
112,112
112,791
108,149
112,680
113,712
121,220
10 yr Avg
2003-2012
5.5%
3.6%
8.4%
1.9%
1.7%
4.5%
6.3%
5.7%
0.6%
-4.1%
4.2%
0.9%
6.6%
3.4%
Semi-durables
Machinery
Non-durables Growth Services Growth Equipment Growth
($Mils)
Yr/yr
($Mils)
Yr/yr
($Mils)
Yr/yr
195,379
204,870
215,471
226,629
237,389
249,221
260,169
273,359
287,080
284,603
296,879
312,913
320,009
7.1%
4.9%
5.2%
5.2%
4.7%
5.0%
4.4%
5.1%
5.0%
-0.9%
4.3%
5.4%
2.3%
318,672
330,814
348,186
366,130
387,096
410,024
435,541
466,132
490,741
505,463
531,061
555,999
576,284
4.2%
6.0%
3.8%
5.3%
5.2%
5.7%
5.9%
6.2%
7.0%
5.3%
3.0%
5.1%
4.7%
3.6%
5.1%
83,350
81,879
80,275
80,831
84,732
93,240
99,932
101,068
101,369
86,032
89,767
97,817
102,996
5.4%
-1.8%
-2.0%
0.7%
4.8%
10.0%
7.2%
1.1%
0.3%
-15.1%
4.3%
9.0%
5.3%
2.0%
Source: Bank of Canada Banking and Financial Statistics July 2013
The continued strong economic growth in 2012 resulted in strong growth in two of the
economic sectors: an above average increase in expenditures on durables of 6.6% compared to
growth of 0.9% in 2011 and an above average increase in expenditures for machinery and
equipment of 5.3% compared to 9.0% in 2011. While, there was a below average increase in
expenditures for semi-durables of 2.3% compared to a growth of 5.4% in 2011 and a below
average increase in expenditures on services of 3.6% compared to a growth of 4.7% in 2011.
Consumer Durables: The year 2012 was a good year for consumer durables' sales. The sales of
consumer durables were driven by the increase in housing starts, which increased by 10.8% in
2012.
In 2012, there was a below average increase in GDP of 4.7%, there was slower growth in
consumer credit, which increased by 3.9% compared to 4.5% in the previous year, while
Page 6
residential mortgages grew by 5.8% compared to 7.4% in 2011. You will note from the table
below, that residential mortgages growth in the last three years has been below average, even
though interest rates have been quite low. Due to the tighter mortgage insurance rules and
endless warnings about the perils of Canadian’s high debt levels, households have pared down
their debt accumulations.
ECONOMIC STATISTICS
GDP
Housing
Residential
Consumer
Expenditures Growth Starts Growth Mortgages Growth
Credit
Growth
($Mils)
Yr/yr ($000s) Yr/yr
($Mils)
Yr/yr
($Mils)
Yr/yr
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
1,002,365
1,049,585
1,105,324
1,163,165
1,229,573
1,311,486
1,403,883
1,492,417
1,573,280
1,561,951
1,652,669
1,737,625
1,819,967
10 yr Avg
2003-2012
6.5%
4.7%
5.3%
5.2%
5.7%
6.7%
7.0%
6.3%
5.4%
-0.7%
5.8%
5.1%
4.7%
152.4
162.7
205.0
218.4
233.4
225.5
227.4
228.3
211.1
149.1
189.9
194.0
214.8
5.1%
1.9%
6.8%
26.0%
6.5%
6.9%
-3.4%
0.8%
0.4%
-7.6%
-29.4%
27.4%
2.1%
10.8%
434,879
461,636
494,972
538,796
597,178
656,499
725,084
814,719
900,221
950,970
1,016,045
1,091,640
1,155,259
3.9%
3.7%
6.2%
7.2%
8.9%
10.8%
9.9%
10.4%
12.4%
10.5%
5.6%
6.8%
7.4%
5.8%
198,854
206,883
225,029
245,915
274,967
307,161
344,096
379,231
465,779
478,221
502,919
525,654
546,159
8.5%
11.9%
4.0%
8.8%
9.3%
11.8%
11.7%
12.0%
10.2%
22.8%
2.7%
5.2%
4.5%
3.9%
8.9%
Source: Bank of Canada Banking and Financial Statistics July 2012
Housing Starts
2008
2009
2010
2011
Yr/Yr %
5 year
2012 Change % growth
Newfoundland & Labrador
3,261
3,057
3,606
3,488
3,885
Prince Edward Island
712
877
756
940
941
New Brunswick
4,274
3,521
4,101
3,452
3,299
Nova Scotia
3,982
3,438
4,309
4,644
4,522
Quebec
47,901
43,403
51,363
48,387
47,367
Ontario
75,076
50,370
60,433
67,821
76,742
Manitoba
5,537
4,174
5,888
6,083
7,242
Saskatchewan
6,828
3,866
5,907
7,031
9,968
Alberta
29,164
20,298
27,088
25,704
33,396
British Columbia
34,321
16,077
26,479
26,400
27,465
Canada
211,056 149,081 189,930 193,950 214,827
11.4%
0.1%
-4.4%
-2.6%
-2.1%
13.2%
19.1%
41.8%
29.9%
4.0%
10.8%
8.6%
5.8%
-4.1%
0.1%
-0.1%
4.5%
7.1%
16.8%
-2.4%
0.6%
0.7%
Sources: Statistics Canada, CANSIM, table 027- 0008, Canada Mortgage and Housing Corporation
Last m odified: 2013- 07- 22.
Housing starts increased % by 10.8% compared to 2.1% in 2011. In the last eight years, housing
starts have not recovered to the record achieved in 2004 of 233,400. The growth in the housing
Page 7
market in Canada in 2012 was regionally dissimilar; three provinces had decreases in housing
starts: New Brunswick (4.4%), Quebec (2.1%), and Nova Scotia (2.6%). Five provinces saw above
average increases (over 10.8%) in housing starts: Saskatchewan (41.8%), Alberta (29.9%),
Manitoba (19.1%), Ontario (13.2%) and Newfoundland & Labrador (11.4%).
Over the last 5 years only one province stands out. Saskatchewan has averaged 16.8% growth in
housing starts.
Lending Activity – Residential Mortgages
The residential mortgage industry in Canada saw residential mortgages outstanding growing by
5.7% in 2012 compared to 7.3% in the previous year. As at April 30, 2013, the total residential
mortgages outstanding increased by 5.2% compared to the previous year.
Recent Results
Residential Mortgages
April
April
2012
2013
(000s)
(000s)
Banks
830,204
874,581
Credit Unions
136,944
146,589
Other Financial Inst.
43,024
44,818
NHA MBS
35,402
35,642
Trust & Loan
29,906
31,107
Insurance
15,362
14,685
Pensions
12,780
13,604
Securitization
10,115
10,697
Total Mortgages
1,114,434 1,172,710
Banks
Credit Unions
Other Financial Inst.
NHA MBS
Trust & Loan
Insurance
Pensions
Securitization
Total Mortgages
2008
(000s)
452,467
114,192
29,750
245,587
10,221
15,389
16,057
20,501
904,164
2009
(000s)
456,214
120,272
30,194
291,911
10,589
14,928
15,435
13,952
953,495
Growth
%
5.3%
7.0%
4.2%
0.7%
4.0%
-4.4%
6.4%
5.8%
5.2%
2010
(000s)
495,160
125,200
28,990
316,589
11,225
13,953
14,379
13,253
1,018,749
Market Share
April
April
2012
2013
%
%
74.5%
74.6%
12.3%
12.5%
3.9%
3.8%
3.2%
3.0%
2.7%
2.7%
1.4%
1.3%
1.1%
1.2%
0.9%
0.9%
100.0%
100.0%
2011
(000s)
810,462
135,346
43,384
36,953
29,808
15,633
12,290
8,986
1,092,862
2012
(000s)
861,399
144,168
43,965
36,579
30,650
14,937
12,927
10,873
1,155,498
5-yr
Growth
%
15.6%
6.5%
8.7%
0.0%
38.0%
0.4%
-0.6%
-12.6%
7.4%
Page 8
You will note that the residential mortgage totals for all of the groups are distorted in 2011 due
to a change in use of accounting standards from GAAP to IRFS. Simply, the NHA mortgages that
were off-balance sheet are now required to be reflected on the balance sheet. This explains
why the NHA MBS and securitizations had declined significantly in 2011.
MORTGAGE LOANS
GROWTH RATES
80.0%
60.0%
40.0%
20.0%
0.0%
Banks
-20.0%
Credit Unions
Insurance
-40.0%
NHA MBS
-60.0%
Securitization
Pensions
-80.0%
Total Mortgages
-100.0%
Banks
Credit Unions
Insurance
NHA MBS
Securitization
Pensions
Total Mortgages
2008
-1.5%
7.2%
17.0%
62.0%
-15.1%
17.0%
11.5%
2009
0.8%
5.3%
-3.9%
18.9%
-31.9%
-3.9%
5.5%
2010
8.5%
4.1%
-6.8%
8.5%
-5.0%
-6.8%
6.8%
2011
63.7%
8.1%
-14.5%
-88.3%
-32.2%
-14.5%
7.3%
2012
6.3%
6.5%
5.2%
-1.0%
21.0%
5.2%
5.7%
Source: Bank of Canada Banking and Financial Statistics July 2013 Schedule E2
The chartered banks continued to provide competition to credit unions, especially in the area
were the credit unions have been the strongest in the past - residential mortgages -through a
Page 9
combination of direct lending, creation of mortgage back securities and securitization.
However, the chartered banks market share of residential mortgages outstanding has steadily
decreased from its peak in 2002 of 64.1% to 48.4% in 2009. However, this decline does not take
into consideration then banks strategy to systematically securitize their mortgage portfolio. By
doing so, they have been able to keep many of the mortgages off their balance sheet. A truer
presentation of their market share is now reflected due to the implementation of IRFS. The
banks market share is now 74.6% at the end of 2012 and has remained at 74.6% as April 30,
2013.
MORTGAGE LOANS
MARKET SHARE
80.0%
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
Banks
Credit Unions
Insurance
NHA MBS
Securitization
Pension Funds
Banks
2008
50.0%
12.6%
1.7%
27.2%
2.3%
1.8%
Credit Unions
2009
48.0%
12.6%
1.6%
30.7%
1.5%
1.6%
Insurance
2010
48.7%
12.3%
1.4%
31.2%
1.3%
1.4%
NHA MBS
2011
74.2%
12.4%
1.4%
3.4%
0.8%
1.1%
Securitization
2012
74.6%
12.5%
1.3%
3.2%
0.9%
1.1%
Pension Funds
The credit unions market share peaked in 1984 at 16% and has consistently declined over last
26 years to 12.3% in 2010. The last time that credit unions had this low a market share was 35
Page 10
years ago. As at April 30, 2013, the credit unions mortgages grew by 7.0% compared to the
previous year and the market share increased to 12.5%. The credit union’s mortgage growth
has exceeded the growth experienced by the market in the last 2 years.
Housing Market in Canada – Driving Mortgage Activity
The Canadian Residential Real Estate market experienced strong growth in Multiple Listing
Sales (“MLS”) in 2009 of 7.4%, followed by declines and marginal growth in the following three
years. Canada Mortgage and Housing Corporation (“CMHC”) is predicting a further decline in
2013 of 1.2% and strong recovery in 2014. Saskatchewan has experienced average growth of
MLS over the last 4our years of 7.6% significantly above the overall growth of the Canadian
market. Prince Edward Island was the next province with above average growth in the last 4
years.
Existing Home Market
MLS sales
Nova Scotia
New Brunswick
Quebec
Ontario
Manitoba
Saskatchewan
Alberta
British Columbia
Total
2009
2010
2011
2012
2013E
2014E
4,416
4,236
4,480
4,650
4,000
4,100
1,404
1,487
1,521
1,614
1,425
1,350
10,021
10,036
10,312
10,437
9,300
9,600
7,003
6,702
6,599
6,403
6,000
5,800
79,107
80,027
77,168
77,382 73,000 75,700
197,011 196,662 201,761 197,620 195,400 202,800
13,086
13,164
13,944
14,008 13,600 13,700
11,095
10,872
13,131
13,950 13,200 13,400
57,543
49,723
53,756
60,369 62,700 64,200
85,028
74,640
76,721
67,637 70,100 77,000
465,714 447,549 459,393 454,070 448,725 467,650
Source: Mortgage and Housing Corporation
Page 11
MLS sales Growth %
Nova Scotia
New Brunswick
Quebec
Ontario
Manitoba
Saskatchewan
Alberta
British Columbia
Total
2009
-5.9%
-0.6%
-7.8%
-18.1%
3.3%
8.0%
-3.2%
5.3%
2.7%
23.4%
7.4%
2010
-4.1%
5.9%
0.1%
-4.3%
1.2%
-0.2%
0.6%
-2.0%
-13.6%
-12.2%
-3.9%
2011
5.8%
2.3%
2.8%
-1.5%
-3.6%
2.6%
5.9%
20.8%
8.1%
2.8%
2.6%
4 yr
2012 Average
2013E
3.8% -0.1%
-14.0%
6.1% 3.4%
-11.7%
1.2% -0.9%
-10.9%
-3.0% -6.7%
-6.3%
0.3% 0.3%
-5.7%
-2.1% 2.1%
-1.1%
0.5% 0.9%
-2.9%
6.2% 7.6%
-5.4%
12.3% 2.4%
3.9%
-11.8% 0.5%
3.6%
-1.2% 1.3%
-1.2%
2014E
2.5%
-5.3%
3.2%
-3.3%
3.7%
3.8%
0.7%
1.5%
2.4%
9.8%
4.2%
Three provinces have seen declines in their housing sales in 2012, New Brunswick (-3.0%),
Ontario (-2.1%) and British Columbia (-11.8%). CMHC is forecasting declines in MLS in every
province in 2014 except Alberta and British Columbia.
The average price per MLS has increased across Canada by 4.6% over the last four years. The
province with highest average MLS price has been British Columbia. British Columbia saw its
average MLS price dropped by 8.3% in 2012 and settled at $514,836, this was the only province
with a decline in average MLS price in 2012.
Three provinces saw above average growth in average MLS prices in the last 4 years,
Newfoundland and Labrador (10.9%), Ontario (6.3%) and Manitoba (6.7%).
Since 2008, the federal government has made several changes to the rules for mortgages
insured through the Canada Mortgage and Housing Corporation (CMHC) and other private
sector mortgage insurance providers. These rules affect home buyers with less than a 20 per
cent down payment and these changes will impact many first-time home buyers in Canada.
The changes include the following:




The maximum amortization period has been reduced to 25 years from 40 years.
Home buyers must have a down payment of at least five per cent of the home purchase
price where previously no down payment was required. For non-owner occupied
properties, a minimum down payment of at least 20 per cent is now mandatory.
Canadians can now borrow to a maximum of 80 per cent of the value of their homes
when refinancing, a drop from 95 per cent.
Limiting the maximum gross debt service (GDS) ratio to 39 per cent and the maximum
Page 12
total debt service (TDS) ratio to 44 per cent.
These two important ratios are used when calculating a person’s ability to pay down debt. GDS
is the share of a borrower’s gross household income needed to pay for home-related expenses,
such as mortgage payments, property taxes and heating expenses. TDS is the share of a
borrower’s gross income needed to pay for all debts, including those relating to home
ownership.
Government-backed mortgage insurance is now available only for homes with a purchase price
of less than $1 million. Borrowers buying homes at or above this amount will need a down
payment of at least 20 per cent if their financing is from a federally-regulated financial
institution.
In June, 2012, the banks’ prudential regulator, the Office of the Superintendent of Financial
Institutions, also introduced a new mortgage underwriting guideline for banks and other
federally regulated financial institutions. This guideline outlines some key principles for prudent
mortgage underwriting that banks are required to follow. It also limits homeowners to
borrowing no more than 65 per cent of the value of their properties through a home equity line
of credit, down from 80 per cent previously.
The slower growth of MLS in the last few years has resulted in a very competitive mortgage
lending market. According to Canaccord Genuity analyst Mario Mendonca, BMO has been
seeking to bolster its mortgage sales since it stopped using mortgage brokers about four years
ago. The interesting part of all this is that some lenders’ fixed rates are actually lower than what
BMO has advertised – the difference is that BMO actually announced it. For the past month or
so mortgage brokers have had access to rates trending down from 3.04% to 2.89% for 5-year
fixed to 2.69% for 3-year rates.
Page 13
MLS Avg. Price
Nova Scotia
New Brunswick
Quebec
Ontario
Manitoba
Saskatchewan
Alberta
British Columbia
Total Average
2009
206,375
146,043
196,690
154,906
225,369
317,490
201,343
232,882
341,818
465,725
320,018
2010
235,341
147,196
206,186
157,240
241,455
341,425
222,132
242,258
352,301
505,178
338,709
2011
251,581
149,618
212,512
160,545
261,452
365,018
234,604
259,461
353,394
561,304
363,886
2012
268,776
152,250
220,413
161,116
266,473
384,455
246,318
274,268
363,208
514,836
364,368
2013E
282,000
155,000
222,000
161,000
269,100
397,400
256,600
288,000
376,300
518,300
376,386
2014E
285,000
156,500
226,000
160,500
272,000
404,400
263,000
294,100
385,300
523,200
384,154
MLS Average Price Growth % 2009
15.6%
4.4%
Nova Scotia
3.6%
New Brunswick
6.3%
Quebec
4.7%
Ontario
5.3%
Manitoba
5.8%
Saskatchewan
4.0%
Alberta
-3.4%
British Columbia
2.4%
Total
5.2%
2010
14.0%
0.8%
4.8%
1.5%
7.1%
7.5%
10.3%
4.0%
3.1%
8.5%
5.8%
2011
6.9%
1.6%
3.1%
2.1%
8.3%
6.9%
5.6%
7.1%
0.3%
11.1%
7.4%
4 yr
2012 Average
6.8% 10.9%
1.8% 2.1%
3.7% 3.8%
0.4% 2.6%
1.9% 5.5%
5.3% 6.3%
5.0% 6.7%
5.7% 5.2%
2.8% 0.7%
-8.3% 3.4%
0.1% 4.6%
2013E
4.9%
1.8%
0.7%
-0.1%
1.0%
3.4%
4.2%
5.0%
3.6%
0.7%
3.3%
2014E
1.1%
1.0%
1.8%
-0.3%
1.1%
1.8%
2.5%
2.1%
2.4%
0.9%
2.1%
Page 14
The following graphs highlight some of more recent residential sales activity:
Source: Canadian Real Estate Association
Page 15
Source: Canadian Real Estate Association
Page 16
Lending Activity – Consumer Credit
The chartered banks continued to a major player in the consumer lending market. Their market
share increased substantially since 2010, because securitized consumer loans were required to
be on the balances sheet (similar to asset backed mortgages). However, due to the credit
crunch and new capitalization rules, there has been less emphasis on securitization of
consumer loans in the last few years. The chartered banks market share of consumer credit has
increased over the last five years after declining in 2005 and 2006. The market share was at an
all-time high of 82.5% in 2012. As at April 30, 2013, the chartered bank’s market share
increased to 83.3%, with growth of 3.8% over the previous year.
Recent Results
Consumer Lending
April
2012
(000s)
Banks
417,326
Credit Unions
30,618
Trust & loan
2,471
Life Insurance
6,459
Securitization
11,210
Other Financial Institutions 38,310
Total
507,476
April
2013
(000s)
Growth
%
433,287 3.8%
31,328 2.3%
646 -73.9%
6,580 1.9%
11,995 7.0%
38,437 0.3%
520,184 2.5%
Market Share
April
April
2012
2013
%
%
82.2%
6.0%
0.5%
1.3%
2.2%
7.5%
100.0%
83.3%
6.0%
0.1%
1.3%
2.3%
6.7%
100.0%
The consumer credit industry in Canada saw consumer lending grow in 2012 by 2.9% compared
to 3.7% in the previous year. Consumer credit lending was weaker during the first four months
of 2013 and grew by 2.5% compared to the previous year.
The credit union’s consumer credit market share has remained fairly stable at 6.0% on average
for the last 6 years. Consumer loans grew at a below average rate of 0.8% in 2012 compared to
3.8% in the previous year. The average growth rate over the last 5 years was 6.8% compared to
11.0% for the chartered banks.
Page 17
5-yr
Consumer Lending
(000's)
Growth
2007
2008
2009
2010
2012
Banks
291,723
Credit Unions
24,318
Trust & loan
426
Life Insurance
5,624
Securitization
54,328
Other Financial Institutions 35,474
Total
413,028
344,859
27,120
1,169
6,060
44,143
34,779
458,130
370,886
29,577
2,532
6,247
38,264
40,177
487,683
415,211
30,701
2,537
6,417
12,248
38,437
505,551
428,785
30,955
2,555
6,533
12,135
39,070
520,033
%
11.0%
6.8%
58.5%
3.9%
-22.6%
3.4%
6.6%
Consumer Credit
Growth Rates
Banks
Credit Unions
30.0%
Insurance
20.0%
Other Financial 10.0%
Securitization
0.0%
-10.0%
Total Consumer
-20.0%
Credit
-30.0%
-40.0%
-50.0%
-60.0%
-70.0%
-80.0%
Banks
Credit Unions
Insurance
Other Financial
Securitization
Total Consumer Credit
2008
13.9%
8.9%
4.1%
6.3%
-11.9%
8.9%
2009
18.2%
11.5%
7.8%
-2.0%
-18.7%
10.9%
2010
7.5%
9.1%
3.1%
15.5%
-13.3%
6.5%
2011
12.0%
3.8%
2.7%
-4.3%
-68.0%
3.7%
2012
3.3%
0.8%
1.8%
1.6%
-0.9%
2.9%
Page 18
Consumer Credit
Market Share
Banks
Credit Unions
90.0%
Insurance
Other Financial 80.0%
Securitization
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
Banks
Credit Unions
Insurance
Other Financial
Securitization
2008
70.6%
5.9%
1.4%
8.6%
13.2%
2009
75.3%
5.9%
1.3%
7.6%
9.6%
2010
76.1%
6.1%
1.3%
8.2%
7.8%
2011
82.1%
6.1%
1.3%
7.6%
2.4%
2012
82.5%
6.0%
1.3%
7.5%
2.3%
Strong growth in securitization of consumer credit in 2005 and 2006 saw its market share peak
at 17.3% in 2006. The economic crisis has had a major effect on securitization of consumer
credit and recent changes in capital rules concerning securitization have resulted in declining
balances in 2008, 2009 and 2010. In 2011, financial institutions which had securitized consumer
loans as off-balance items were required to disclose them on their balance sheet due to the
new IRFS rules. Due to the securitized consumer loans being shown on the bank’s balance
Page 19
sheets, the market share of securitized consumer loans has declined to 2.3% in 2012. As at April
30, 2013, securitized consumer loans increased by 7.0% compared to the previous year and
now represent a market share of 2.3%.
Other financial institutions providing consumer credit as a group have seen their market share
of consumer credit consistently decline since 2005, when they had a market share of 9.3%. As
at April 30, 2013, the other financial institutions consumer credit decreased by 0.3% and now
represents a market share of 6.7%.
Page 20
Canadian Credit Union System
Membership
The membership of the credit union system in Canada increased slightly in 2012, with above
average increases in Quebec and the Western Provinces and significant declines in Ontario and
Atlantic provinces. The membership increased by 0.89% to 10.825 million individuals compared
to a decline of 0.3% in the previous year, and still represents approximately 31% of the
Canadian population. The Canadian credit union movement’s 5 year average membership
growth in Canada was negative 0.3% and continued to lag the 5-year average growth rate of the
population of Canada (1.16%).
2009
2010
2011
2012
Yr/Yr
Growth
%
5,188,716
3,429,207
1,641,925
558,183
10,818,031
5,146,571
3,470,315
1,600,992
546,056
10,763,934
5,105,377
3,513,739
1,567,813
542,799
10,729,728
5,175,399
3,629,316
1,514,995
505,170
10,824,880
1.37%
3.29%
-3.37%
-6.93%
0.89%
-0.15%
1.39%
-2.02%
-2.12%
-0.03%
95,065,000
2.10%
1.44%
301,177,401 306,656,290 310,537,968 312,812,057 315,085,365
29.9%
29.7%
29.5%
29.8%
30.2%
0.73%
0.89%
5 yr
Avg
Growth
0.94%
1.60%
1.09%
0.32%
1.04%
1.16%
Membership
2008
Quebec
5,236,877
Western Provinces
3,424,469
Ontario
1,679,849
Atlantic Provinces
564,628
Total Canadian
10,905,823
Source: Credit Union Central of Canada
Federal US Credit Unions
U.S Population
Penetration
Source: CUNA
89,912,000
91,157,000
91,760,000
93,108,000
2009
2010
2011
2012
Yr/Yr
Growth
%
Quebec
7,751
7,826
Western Provinces
10,196
10,382
Ontario
12,933
13,069
Atlantic Provinces
2,330
2,341
Yukon & Territories
108
110
Total
33,318
33,727
Source: Statistics Canada, CANSIM 051-001
7,905
10,533
13,224
2,353
111
34,127
7,978
10,664
13,366
2,362
113
34,484
8,055
10,843
13,506
2,364
113
34,881
0.96%
1.68%
1.04%
0.05%
-0.09%
1.15%
(000s)
Canadian Population
2008
Membership
Penetration
2008
2009
2010
2011
2012
Quebec
Western Provinces
Ontario
Atlantic Provinces
Total
67.6%
33.6%
13.0%
24.2%
32.7%
66.3%
33.0%
12.6%
23.8%
32.1%
65.1%
32.9%
12.1%
23.2%
31.5%
64.0%
32.9%
11.7%
23.0%
31.1%
64.3%
33.5%
11.2%
21.4%
31.0%
5 yr
Avg
Growth
Five provinces saw an increase in their membership: Manitoba, British Columbia, Alberta,
Quebec and Newfoundland and Labrador, while Prince Edward Island and New Brunswick had
the largest declines in membership.
The Canadian population has been growing at a faster rate than the credit union membership
resulting in the penetration % declining over the last 5 years. There are probably two reasons
for this: (1) as older members pass away, credit unions have not been able to attract or keep
their children as members; and (2) the credit unions have not been very successful in attracting
Page 21
many of the new immigrants to Canada.
Membership
Yr/Yr
Growth
%
5 yr
Avg
Growth
0.5%
6.3%
1.2%
-1.1%
3.3%
0.89%
2.84%
-0.17%
-0.83%
1.39%
2008
2009
2010
2011
Manitoba
British Columbia
Alberta
Saskatchewan
Western Provinces
584,674
1,681,500
642,612
515,683
3,424,469
595,601
1,695,280
640,625
497,701
3,429,207
604,798
1,720,071
625,123
520,323
3,470,315
612,729
1,762,406
630,603
508,001
3,513,739
Ontario
1,679,849
1,641,925
1,600,992
1,567,813
-2.1%
1,514,995
-3.4%
-2.02%
Quebec
5,236,877
5,188,716
5,146,571
5,105,377
-0.8%
5,175,399
1.4%
-0.15%
Newfoundland and Labrador
Nova Scotia
New Brunswick
Atlantic Provinces
Total Canadian
1.3%
2.5%
0.9%
-2.4%
1.3%
2012
Yr/Yr
Growth
%
615,968
1,872,992
637,943
502,413
3,629,316
47,254
64,008
167,573
285,793
564,628
48,353
63,672
166,551
279,607
558,183
49,679
61,224
163,016
272,137
546,056
51,092
61,200
159,347
271,160
542,799
2.8%
0.0%
-2.3%
-0.4%
-0.6%
51,713
55,500
156,038
241,919
505,170
1.2%
-9.3%
-2.1%
-10.8%
-6.9%
2.49%
-2.72%
-1.55%
-3.13%
-2.12%
10,905,823
10,818,031
10,763,934
10,729,728
-0.32%
10,824,880
0.89%
-0.03%
The credit union membership penetration rates by region have been decreasing across the
board. The CU membership penetration of the population in the Province of Quebec has
consistently dropped from 69.3% in 2002 to 64.0% in 2011. However, in 2012 the penetration
rate increased slightly to 64.3%. It would seem that Caisses Populaire system in Quebec has not
been able to attract recent immigrants to its membership.
In Province of Ontario, the membership penetration decreased in 2012 to 11.2% of the
population from a high of 13.4% in 2006. Ontario remains at the lowest level of credit union
membership penetration compared to the other provinces, except for Newfoundland and
Labrador (10.0%). However, Newfoundland and Labrador has experienced above average
growth in membership and has seen its penetration rate consistently increase.
In part, this may be due to the significant number of financial institutions competing in the
Ontario market place and the lack of significant number of large credit unions in the major
urban centres of Ontario. The majority of the credit unions in Ontario are rural based; however
this has been changing with the increasing number of mergers occurring and the consolidation
of the Ontario credit union system into the larger urban based credit unions.
Page 22
Western Provinces
Membership
Penetration
2008
2009
2010
2011
2012
Manitoba
British Columbia
Alberta
Saskatchewan
48.5%
38.4%
17.9%
50.9%
48.7%
38.1%
17.4%
48.3%
49.0%
38.0%
16.8%
49.8%
48.8%
38.3%
16.5%
47.6%
48.6%
40.5%
16.5%
46.5%
Western Provinces
Membership
Growth rates
2008
2009
2010
2011
2012
Manitoba
British Columbia
Alberta
Saskatchewan
-0.8%
3.2%
-0.2%
-1.7%
1.9%
0.8%
-0.3%
-3.5%
1.5%
1.5%
-2.4%
4.5%
1.3%
2.5%
0.9%
-2.4%
0.5%
6.3%
1.2%
-1.1%
The Western Provinces saw an increase in penetration of the population in 2012 to 33.5% from
32.9% in 2011. The CU membership saw an increase in membership of 3.3% compared to the
population growth of 1.7%. The CU movement’s membership penetration is strongest in
Manitoba and Saskatchewan with penetration rates of 48.6% and 46.5% respectively. Both
provinces saw their penetration rate decline in 2012. Manitoba and saw their membership
increase by 0.5% [Manitoba population increased by 1.21%]. While, Saskatchewan saw a
decrease in membership (-1.1% growth), while the Province of Saskatchewan population
increased by 2.1%. British Columbia experienced a strong growth in membership of 6.3%
[British Columbia population increased by 1.0%] and resulting increase in membership
penetration to 40.5% of the population.
The Province of Alberta saw their CU membership increase by 1.2% is the second year in row of
an increase in membership. The Province of Alberta has seen strong population growth in the in
the last five years. Due to the decline in credit union membership, this has resulted in a lower
penetration of the population by credit unions, which now stand at 16.5%.
The western provinces are experiencing strong population and economic growth compared to
the other regions in Canada. There has been a continued internal shift of the population from
the east to west. This has helped the credit union movement increase its membership.
Page 23
Atlantic Provinces
Membership
Penetration
2008
2009
2010
2011
2012
Nova Scotia
New Brunswick
9.3%
45.9%
17.9%
38.3%
9.5%
45.2%
17.8%
37.3%
9.7%
43.0%
17.3%
36.2%
10.0%
41.9%
16.8%
35.9%
10.1%
38.0%
16.4%
32.0%
Atlantic Provinces
Membership
Growth rates
2008
2009
2010
2011
2012
Nova Scotia
New Brunswick
3.3%
0.1%
-0.7%
0.3%
2.3%
-0.5%
-0.6%
-2.2%
2.7%
-3.8%
-2.1%
-2.7%
2.8%
0.0%
-2.3%
-0.4%
1.2%
-9.3%
-2.1%
-10.8%
In the Atlantic Provinces, the CU membership penetration level has decreased to 21.4% in
2012, from 23.0% in 2011. The population growth in the Atlantic Provinces has been the
slowest of any region in Canada. Only Newfoundland and Labrador has seen an increase in its
membership base, while the remaining provinces have seen net decreases in their membership.
In 2012, credit union membership grew at 0.9% while Canada’s population grew by 1.2%. This is
not a good sign for the credit union movement. The previous three years saw a decline in
membership. Hopefully, this is the beginning of a recovery of the credit union membership
growth. In 1997, the movement experienced a similar decline in membership; however growth
resumed in subsequent years. Credit union membership exceeded population growth in only
three provinces: British Columbia, Quebec and Newfoundland & Labrador.
Page 24
Population of Canada
by Province
Nova Scotia
New Brunswick
Quebec
Ontario
Manitoba
Saskatchewan
Alberta
British Columbia
Yukon
Northwest Territories
Nunavut
Total
2009
2010
2011
Yr/Yr
Growth
%
2012
Yr/Yr Avg. 5 yr
Growth Growth
%
%
509,100
141,100
940,600
749,900
511,900
143,100
945,200
752,900
512,900
145,700
948,500
755,300
0.19%
1.78%
0.35%
0.32%
7,825,800
13,068,800
7,905,100
13,223,800
7,978,000
13,366,300
0.91%
1.07%
8,054,800
13,505,900
0.95%
1.03%
0.94%
1.09%
1,219,900
1,029,500
3,672,700
4,459,900
1,235,700
1,044,400
3,723,800
4,529,500
1,251,700
1,057,800
3,778,100
4,576,600
1.28%
1.27%
1.44%
1.03%
1,267,000
1,080,000
3,873,700
4,622,600
1.21%
2.06%
2.47%
1.00%
1.20%
1.55%
1.97%
1.41%
1.94%
-2.08%
0.30%
1.14%
2.06%
-0.09%
1.49%
1.16%
33,700
34,600
43,600
43,900
32,200
32,800
33,726,800 34,126,700
512,700 -0.04%
146,100 0.27%
948,700 0.02%
756,000 0.09%
35,400 2.26%
36,100
44,200 0.68%
43,300
33,600 2.38%
33,700
34,484,100 1.04% 34,880,600
0.24%
1.13%
0.27%
0.27%
Source: Statistics Canada CANSIM Table 051-0001
Population of Canada
by Region
Quebec
Western provinces
Ontario
Atlantic Provinces
Territories
Total
2009
2010
7,825,800
7,905,100
10,382,000 10,533,400
13,068,800 13,223,800
2,340,700
2,353,100
109,500
111,300
33,726,800 34,126,700
Yr/Yr
2011 Growth
%
Yr/Yr Avg. 5 yr
2012 Growth Growth
%
%
7,978,000 0.91%
8,054,800
10,664,200 1.23%
10,843,300
13,366,300 1.07%
13,505,900
2,362,400 0.39%
2,363,500
113,200 1.68%
113,100
34,484,100 1.04% 34,880,600
0.95%
1.65%
1.03%
0.05%
-0.09%
1.14%
0.76%
1.65%
1.07%
-0.03%
0.90%
1.16%
Consolidation of Credit Unions
We will continue to see consolidation of the Canadian credit union system over the next few
years and this will allow the remaining larger credit unions to be more competitive. The major
forces behind the trend of consolidation are the need to offer a greater variety of services,
reduce technology costs and to find ways to achieve economies of scale to more effectively
compete with the Chartered Banks.
The number of credit unions and caisses populaires in Canada totaled 2,868 in 1988, of which
1,511 were caisses populaires and 1,357 were credit unions. The total CUs and CPs have
decreased to 743 in 2012, a decline of 2,125 over the last 24 years, approximately 74%
reduction. The decline in number of CUs and CPs has primarily been due to mergers and
amalgamations. The number of caisses populaires has decreased from 1,511 in 1988 to 408 in
2011, a decline of 1,113 caisses populaires or 74% decrease. While the number of credit unions
has declined from 1,357 in 1988 to 335 in 2011, a decline of 1,022 credit unions or 75%
Page 25
decrease.
In the last five years, the consolidation of the credit union movement has continued with 316
credit unions and caisse populaires disappearing, of which 180 were caisses populaires and 136
were credit unions.
2012
Chng
Yr/Yr
5 yr
Chng
in #
5 yr
%
Change
402
45
40
61
42
188
152
10
10
30
34
84
826
359
44
33
60
41
178
133
10
9
29
25
73
743
-43
-1
-7
-1
-1
-10
-19
0
-1
-1
-9
-11
-83
-155
-5
-15
-15
-16
-51
-75
-3
-1
-4
-27
-35
-316
-30%
-10%
-31%
-20%
-28%
-22%
-36%
-23%
-10%
-12%
-52%
-32%
-30%
489
388
458
368
408
335
-50
-33
-180
-136
-31%
-29%
7,486
7,236
6,956
-280
-1,312
-16%
Number of
Credit Unions
2008
2009
2010
2011
Quebec
British Columbia
Alberta
Saskatchewan
Manitoba
Western Provinces
Ontario
Newfoundland
Nova Scotia
New Brunswick
Atlantic Provinces
Total
492
48
48
66
53
215
198
13
10
31
49
103
1,008
460
46
46
65
49
206
186
11
10
31
41
93
945
430
45
40
64
42
191
167
11
10
31
37
89
877
Caisses Populaires
Credit Unions
562
446
522
423
Federal US CU's
Source: CUNA
7,965
7,708
In 2012, the majority of the consolidation of credit unions and caisses populaires has occurred
in Quebec (43 CPs) and Ontario (19 CUs). The consolidation of credit unions is primarily
occurring to create economies of scale and reduce operating costs. There are 28 credit unions
in Canada with over a $1 billion in assets compared to 26 last year.
Branch Network
Consolidation of the credit union movement has not had as dramatic effect on the number of
branches, except for Quebec where the number of branches declined from 1,800 in 2000 to
1,119 in 2012. This decline was due to a major consolidation development program in Quebec
orchestrated by the Confederation and the consolidation of the regional Federations. The
consolidation of the credit union movement is continuing with a number of large mergers
occurring in 2012. The number of branches in the Western Provinces has decreased the least
Page 26
over the last 5 years. The credit union system and the smaller chartered banks have been
acquiring branch networks from the larger banks primarily in Western Canada over the last few
years.
2012
Chng
in
number
5 yr
chng
in #
5 yr
%
Change
1,119
369
208
299
216
1,092
592
40
15
80
93
228
3,031
-85
-2
5
-3
4
4
-31
0
0
-1
-18
-19
-131
-244
1
-3
-15
8
-9
-82
0
0
-2
-32
-34
-262
-18.2%
0.3%
-1.4%
-4.8%
3.8%
-0.8%
-13.0%
0.0%
0.0%
-2.4%
-25.6%
-13.0%
-7.8%
1,395
1,767
1,294
1,737
-101
-30
-177
-85
-11.5%
-4.7%
21,433
21,406
-27
712
3.4%
Number of Credit
Union Branches
2008
2009
2010
2011
Quebec
British Columbia
Alberta
Saskatchewan
Manitoba
Western Provinces
Ontario
Newfoundland
Nova Scotia
New Brunswick
Atlantic Provinces
Total
1,338
373
212
314
209
1,108
630
40
15
82
125
262
3,338
1,279
368
215
310
210
1,103
664
40
15
82
119
256
3,302
1,254
370
209
304
210
1,093
652
41
15
82
116
254
3,253
1,204
371
203
302
212
1,088
623
40
15
81
111
247
3,162
Caisses Populaires
Credit Unions
1,535
1,803
1,481
1,821
1,453
1,800
Federal US CU's
21,122
21,290
21,341
Source: Credit Union Central of Canada and Cudata.com
Assets
The Canadian credit union system’s asset growth in 2012 was 7.1% compared to 8.7% in the
previous year. Total system assets increased to $297.7 billion and represent a 14.2% market
share of the Canadian dollar denominated assets of Chartered banks and credit unions in
Canada. You will note that in 2011 credit union market share significantly in 2011, primarily
because the Chartered Banks were required under IFRS to include mortgage back securities on
their balance sheet, where previously they were treated as off-balance sheet assets. The
Chartered bank’s Canadian dollar asset growth in 2012 was 7.2%.
Page 27
Canadian Chartered Banks
Cdn $ Assets ($Mils)
2008
Quebec
British Columbia
Alberta
Saskatchewan
Manitoba
Western Provinces
Ontario
Newfoundland
Nova Scotia
New Brunswick
Atlantic Provinces
Total
2009
2010
2011
155,731
165,344
180,988
236,230
172,813
183,307
192,033
249,994
156,006
164,058
175,363
232,453
19,641
22,156
25,056
33,503
21,946
23,471
26,068
34,966
370,406
392,992
418,520
550,916
594,897
581,892
620,259
809,783
9,546
10,643
12,139
16,656
3,005
3,303
3,470
4,563
28,623
29,603
31,098
40,177
13,964
15,037
16,371
22,395
55,138
58,586
63,078
83,791
1,176,172 1,198,814 1,282,845 1,680,720
Yr/Yr
Growth
2012
30.5%
30.2%
32.6%
33.7%
34.1%
31.6%
30.6%
37.2%
31.5%
29.2%
36.8%
32.8%
31.0%
262,749
245,249
252,977
37,087
38,872
574,185
874,207
18,340
4,907
43,247
24,155
90,649
1,801,790
5 yr
Yr/Yr
Avg
Growth Growth
11.2%
-1.9%
8.8%
10.7%
11.2%
4.2%
8.0%
10.1%
7.5%
7.6%
7.9%
8.2%
7.2%
12.8%
9.1%
11.5%
15.7%
13.2%
10.7%
8.6%
15.1%
11.0%
10.1%
14.0%
12.1%
10.0%
Source: Bank of Canada Banking and Financial Statistics ( Table C5)
Canadian Credit Unions
Assets ($Mils)
5 yr
Yr/Yr
Avg
Growth Growth
2008
2009
2010
2011
Yr/Yr
Growth
Quebec
British Columbia
Alberta
Saskatchewan
Manitoba
Western Provinces
Ontario
Newfoundland
Nova Scotia
New Brunswick
Atlantic Provinces
Total
102,075
45,451
16,487
12,588
15,209
89,735
27,930
701
699
1,659
3,176
6,235
225,975
108,508
48,438
17,492
13,479
16,667
96,076
29,595
764
729
1,737
3,208
6,438
240,617
118,190
49,447
18,171
14,035
18,239
99,892
31,042
827
744
1,816
3,260
6,647
255,771
128,658
54,129
18,860
15,631
20,104
108,724
33,540
894
785
1,930
3,373
6,982
277,904
8.9%
9.5%
3.8%
11.4%
10.2%
8.8%
8.0%
8.1%
5.5%
6.3%
3.5%
5.0%
8.7%
137,500
57,193
20,358
16,890
22,367
116,808
36,002
965
813
1,996
3,627
7,401
297,711
6.9%
5.7%
7.9%
8.1%
11.3%
7.4%
7.3%
7.9%
3.6%
3.4%
7.5%
6.0%
7.1%
7.8%
6.1%
6.6%
8.5%
10.5%
7.3%
6.8%
8.8%
4.4%
5.2%
2.7%
4.2%
7.3%
823,623
896,824
926,443
974,186
5.2%
1,034,868
6.2%
6.1%
CU market share %
2008
2009
2010
2011
%
Chng
2012
%
Chng
5yr
Avg
Quebec
British Columbia
Alberta
Saskatchewan
Manitoba
Western Provinces
Ontario
Newfoundland
Nova Scotia
New Brunswick
Atlantic Provinces
Total
39.6%
20.8%
9.6%
39.1%
40.9%
19.5%
4.5%
6.8%
18.9%
5.5%
18.5%
10.2%
16.1%
39.6%
20.9%
9.6%
37.8%
41.5%
19.6%
4.8%
6.7%
18.1%
5.5%
17.6%
9.9%
16.7%
39.5%
20.5%
9.4%
35.9%
41.2%
19.3%
4.8%
6.4%
17.7%
5.5%
16.6%
9.5%
16.6%
35.3%
17.8%
7.5%
31.8%
36.5%
16.5%
4.0%
5.1%
14.7%
4.6%
13.1%
7.7%
14.2%
-4.2%
-2.7%
-1.9%
-4.1%
-4.7%
-2.8%
-0.8%
-1.3%
-3.0%
-0.9%
-3.5%
-1.8%
-2.4%
34.4%
18.9%
7.4%
31.3%
36.5%
16.9%
4.0%
5.0%
14.2%
4.4%
13.1%
7.5%
14.2%
-0.9%
1.1%
-0.1%
-0.5%
0.0%
0.4%
0.0%
-0.1%
-0.5%
-0.2%
0.0%
-0.1%
0.0%
38.7%
20.2%
9.0%
36.6%
39.8%
18.8%
4.4%
6.3%
17.5%
5.3%
17.1%
9.5%
15.8%
2012
Page 28
The U.S. Credit Union systems assets grew by 6.2% in 2012 compared to 5.2% in the previous
year and less than the Canada credit union’s growth rate of 7.2%.
The credit unions assets in three provinces represent significant market share (over 30%):
Manitoba based credit unions have 36.5% of the Canadian dollar denominated assets of
Chartered banks and credit unions in Manitoba; Quebec based caisse populiares have 34.4% of
the Canadian dollar denominated assets of Chartered banks and caisse populiares in Quebec;
and Saskatchewan based credit unions have 31.3% of the Canadian dollar denominated assets
of Chartered banks and credit unions in Saskatchewan.
The top 125 credit unions had total assets of $138.2 billion in 2012 compared to $127.9 billion
in the previous year, an increase of 8.1%. The largest Canadian credit unions grew their asset
base more quickly than the Credit Union Movement as a whole.
Deposits or Savings
The credit union system’s savings growth in 2012 was 7.8% compared to 6.1% in the previous
year and represented a 15.4% market share of the Canadian dollar denominated savings or
deposits held by the Chartered banks in Canada and credit unions in Canada. The credit union’s
savings growth exceeded the 6.1% growth experienced by the Canadian chartered banks. The
credit unions in the Province of Manitoba had double digit growth of 11.2%.
The U.S. credit unions experienced growth in deposits of 6.1% compared to an increase of 5.2%
in the previous year. The Canadian credit unions again out grew the U.S. based credit unions.
The market share of deposits of the credit unions in Quebec and the Western Provinces
experienced increases.
Page 29
2008
2009
2010
2011
Yr/Yr
Growth
%
Quebec
British Columbia
Alberta
Saskatchewan
Manitoba
Western Provinces
Ontario
Newfoundland
Nova Scotia
New Brunswick
Atlantic Provinces
Total
84,464
39,003
14,928
11,351
14,074
79,356
23,001
652
640
1,507
2,972
5,771
192,592
89,060
42,494
15,857
12,232
15,366
85,949
24,113
712
668
1,569
3,165
6,114
205,236
93,968
44,175
16,486
12,708
16,858
90,227
25,343
767
672
1,648
3,248
6,335
215,873
98,628
46,415
17,063
13,849
18,626
95,953
27,867
828
711
1,736
3,344
6,619
229,067
5.0%
5.1%
3.5%
9.0%
10.5%
6.3%
10.0%
8.0%
5.8%
5.3%
3.0%
4.5%
6.1%
691,765
Savings ($Mils)
2012
Yr/Yr
Growth
%
5 yr
Avg
Growth
105,900
49,834
18,423
14,969
20,711
103,937
30,174
897
750
1,790
3,478
6,915
246,925
7.4%
7.4%
8.0%
8.1%
11.2%
8.3%
8.3%
8.3%
5.5%
3.1%
4.0%
4.5%
7.8%
6.6%
6.5%
7.2%
8.2%
10.6%
7.6%
7.2%
9.0%
4.6%
5.0%
4.3%
5.1%
7.0%
763,341
797,303
838,506
5.2%
889,579
6.1%
6.4%
CU market share %
2008
2009
2010
2011
%
Chng
2012
%
Chng
5 yr
Avg
Quebec
British Columbia
Alberta
Saskatchewan
Manitoba
Western Provinces
Ontario
Newfoundland
Nova Scotia
New Brunswick
Atlantic Provinces
Total
41.5%
25.1%
12.6%
37.9%
42.9%
23.6%
4.0%
6.6%
22.9%
8.7%
22.2%
13.3%
16.7%
40.0%
23.3%
12.4%
37.2%
41.6%
22.6%
3.7%
6.0%
22.9%
8.4%
22.6%
12.8%
15.7%
39.1%
23.0%
12.1%
36.6%
43.0%
22.4%
3.6%
5.7%
22.4%
8.2%
22.4%
12.4%
15.5%
39.3%
23.0%
11.3%
37.0%
44.4%
22.2%
3.6%
6.3%
22.4%
8.4%
22.3%
12.7%
15.2%
0.2%
0.0%
-0.8%
0.3%
1.4%
-0.2%
0.0%
0.6%
0.0%
0.1%
-0.1%
0.3%
-0.3%
39.5%
23.9%
11.9%
37.9%
45.4%
23.2%
3.6%
6.7%
22.3%
8.1%
22.1%
12.7%
15.4%
0.2%
0.9%
0.6%
0.9%
1.0%
1.0%
0.0%
0.4%
-0.1%
-0.3%
-0.2%
-0.1%
0.2%
39.9%
23.7%
12.1%
37.3%
43.5%
22.8%
3.7%
6.3%
22.6%
8.3%
22.3%
12.8%
15.7%
Source: Credit Union Central of Canada and NCUA.com
In 2012, the largest credit unions had approximately $22.8 billion in RRSP deposits and this
represented 18.7% of their deposits. The Chartered banks had $137.0 billion in registered
deposits, which represents 10.1% of its total deposit base.
Cdn $ Deposits ($Mils)
2008
Quebec
British Columbia
Alberta
Saskatchewan
Manitoba
Western Provinces
Ontario
Newfoundland
Nova Scotia
New Brunswick
Atlantic Provinces
Total
2009
2010
2011
Yr/Yr
Growth
%
118,865
133,710
146,657
152,459 4.0%
116,304
139,816
148,241
155,486 4.9%
103,714
111,580
119,708
133,808 11.8%
18,609
20,608
21,992
23,626 7.4%
18,744
21,536
22,348
23,285 4.2%
257,371
293,540
312,289
336,205 7.7%
547,837
635,907
669,145
742,066 10.9%
9,193
11,228
12,759
12,335 -3.3%
2,159
2,255
2,329
2,461 5.7%
15,819
17,180
18,357
18,967 3.3%
10,416
10,835
11,239
11,642 3.6%
37,587
41,498
44,684
45,405 1.6%
961,660 1,104,655 1,172,775 1,276,135 8.8%
2012
Yr/Yr
Growth
%
5 yr
Avg
Growth
162,501
158,517
136,755
24,536
24,884
344,692
799,502
12,421
2,612
20,431
12,232
47,696
1,354,391
6.6%
1.9%
2.2%
3.9%
6.9%
2.5%
7.7%
0.7%
6.1%
7.7%
5.1%
5.0%
6.1%
8.8%
8.3%
8.1%
7.1%
7.8%
8.0%
9.1%
11.2%
7.7%
7.1%
5.3%
7.5%
8.7%
Source: Bank of Canada Banking and Financial Statistics ( Table C6)
Page 30
Loans
The credit union system’s loan growth in 2012 was 8.4% compared to 7.7% in the previous year
and represented a 13.6% market share of Canadian dollar denominated loans of Chartered
banks and credit unions in Canada.
Cdn $ Loans ($Mils)
2008
Quebec
British Columbia
Alberta
Saskatchewan
Manitoba
Western Provinces
Ontario
Newfoundland
Nova Scotia
New Brunswick
Atlantic Provinces
Total
2009
2010
2011
Yr/Yr
Growth
%
2012
131,828
140,559
150,632
204,402 35.7%
224,431
159,950
171,591
178,921
235,713 31.7%
245,249
133,626
141,392
149,971
206,534 37.7%
219,003
18,544
20,514
22,510
31,087 38.1%
34,428
19,224
20,493
22,640
31,067 37.2%
33,080
331,344
353,990
374,042
504,401 34.9%
531,760
445,870
481,539
505,694
687,637 36.0%
727,966
9,136
9,893
11,108
15,719 41.5%
16,872
2,889
3,095
3,250
4,302 32.4%
4,486
24,662
25,632
27,452
36,410 32.6%
38,753
12,962
13,633
14,681
20,607 40.4%
21,774
49,649
52,253
56,491
77,038 36.4%
81,885
958,691 1,028,341 1,086,859 1,473,478 35.6% 1,566,042
Yr/Yr
5 yr
Growth Avg
%
Growth
9.8%
4.0%
6.0%
10.7%
6.5%
5.4%
5.9%
7.3%
4.3%
6.4%
5.7%
6.3%
6.3%
13.2%
10.6%
12.7%
16.5%
13.1%
12.0%
11.1%
15.1%
10.3%
11.0%
12.8%
12.2%
11.7%
Source: Bank of Canada Banking and Financial Statistics (Table C5)
The credit union system’s market share of loans outstanding has remained fairly stable slightly
above 16% until 2011. Due to the recent accounting changes relating to IFRS, the Chartered
Banks loans increased significantly in 2011 because mortgage back securities were included on
the balance sheet, where in previous years they were treated as off-balance sheet items.
The following provinces experienced double digit loan growth: Saskatchewan (10.2%) and
Manitoba (10.4%).
Credit unions systems loan market shares in three provinces have averaged over 30% in the last
five years: Quebec, Saskatchewan and Manitoba.
Page 31
2008
2009
2010
2011
Yr/Yr
Growth
%
2012
Yr/Yr
5 yr
Growth Avg
%
Growth
85,433
38,130
13,936
9,496
12,744
74,306
23,001
562
504
1,220
2,580
4,866
187,606
90,836
39,120
14,761
10,213
14,171
78,265
24,113
616
545
1,285
2,677
5,123
198,337
98,622
41,532
15,363
10,590
15,261
82,746
25,343
673
563
1,361
2,757
5,354
212,065
104,999
45,238
16,144
11,702
16,646
89,730
27,867
743
559
1,416
3,066
5,784
228,380
6.5%
8.9%
5.1%
10.5%
9.1%
8.4%
10.0%
10.4%
-0.7%
4.0%
11.2%
8.0%
7.7%
113,900
48,907
17,130
12,900
18,377
97,314
30,174
787
594
1,500
3,218
6,099
247,488
8.5%
7.5%
8.1%
5.8%
6.1%
6.3%
10.2% 8.6%
10.4% 10.4%
8.5%
7.0%
8.3%
7.2%
5.9%
9.3%
6.3%
3.8%
5.9%
5.6%
5.0%
5.6%
5.5%
5.8%
8.4% 7.2%
Federal US Credit Unions 574,752
580,454
572,445
582,288
1.7%
610,290
4.8%
Loans ($Mils)
Quebec
British Columbia
Alberta
Saskatchewan
Manitoba
Western Provinces
Ontario
Newfoundland
Nova Scotia
New Brunswick
Atlantic Provinces
Total
2.6%
CU market share %
2008
2009
2010
2011
2012
5 yr
Avg
Quebec
British Columbia
Alberta
Saskatchewan
Manitoba
Western Provinces
Ontario
Newfoundland
Nova Scotia
New Brunswick
Atlantic Provinces
Total
39.3%
19.2%
9.4%
33.9%
39.9%
18.3%
4.9%
5.8%
14.9%
4.7%
16.6%
8.9%
16.4%
39.3%
18.6%
9.5%
33.2%
40.9%
18.1%
4.8%
5.9%
15.0%
4.8%
16.4%
8.9%
16.2%
39.6%
18.8%
9.3%
32.0%
40.3%
18.1%
4.8%
5.7%
14.8%
4.7%
15.8%
8.7%
16.3%
33.9%
16.1%
7.2%
27.3%
34.9%
15.1%
3.9%
4.5%
11.5%
3.7%
13.0%
7.0%
13.4%
33.7%
16.6%
7.3%
27.3%
35.7%
15.5%
4.0%
4.5%
11.7%
3.7%
12.9%
6.9%
13.6%
37.1%
17.9%
8.5%
30.7%
38.3%
17.0%
4.5%
5.3%
13.6%
4.3%
14.9%
8.1%
15.2%
Source: Credit Union Central of Canada and NCUA.com
Overview of Credit Union System: Canada vs. United States
The credit union system in the United States broke through the trillion dollar mark and now has
total assets of $1,035 billion in 2012 and experienced 6.2% growth in assets, compared to
average growth of 6.1% over the last five years, while the Canadian credit union system had
total assets of $300 billion in 2012 and experienced above average growth in assets of 7.6%
compared to average growth of 7.6% over the last five years.
Credit unions in the Canada were growing more quickly than American credit unions again after
experiencing slower growth in 2009. Credit unions in Canada have more than two and half
times as many assets per member and have higher loan to asset ratio of 82% compared to 59%
for the American credit unions. The average size of the credit union in Canada is two and half
times larger – in 2012 Canadian credit unions averaged $400.7 million per credit union
Page 32
compared to $148.8 million per credit union in the United States. The 10 largest credit unions in
Canada represent 25% of the total assets of movement in Canada. The largest 10 credit unions
in Canada, through organic growth and mergers, have grown on average by 10.6% over the last
5 years. (See attached tables and charts).
5 yr
Avg
United States
2008
2009
2010
2011
2012
Number of credit unions
Growth %
7,965
-3.7%
7,708
-3.2%
7,486
-2.9%
7,236
-3.3%
6,956
-3.9% -3.4%
132
137
159
173
194
Membership (millions)
Growth %
89.9
1.6%
91.2
1.4%
91.2
0.0%
92.2
1.2%
93.7
1.6%
Assets ($billions)
Loans ($billions)
Savings ($billions)
$824
$576
$692
$897
$583
$763
$927
$576
$797
$974
$582
$839
65%
1.2%
10.3%
8.9%
62%
-1.2%
4.4%
3.3%
# of CU with $1 billion in assets
Loan to assets
Loan growth %
Savings growth %
Asset growth %
Assets per member
Assets per credit union
70%
6.7%
6.9%
6.9%
$9,160
$103.4
60%
1.2%
5.2%
5.1%
1.2%
$1,035
$610
$890
59% 63.2%
4.8% 2.5%
6.1% 6.6%
6.2% 6.1%
$9,838 $10,163 $10,562 $11,040
$116.3
$123.8
$134.6
$148.8
4.9%
9.8%
Source: CUNA - U.S. Credit Union Profile
Canadian credit unions had much stronger loan growth in 2012 of 7.5% compared to growth of
only 4.8% in the United States, primarily due to the credit crunch experienced by U.S. financial
institutions and the poor economy in the United States. Over the last five years loan growth in
Canada averaged 7.0% yearly compared to 2.5% yearly for the credit unions in the United
States of America.
Membership growth in U.S.-based credit unions was much stronger than in the Canadian based
credit unions. In 2012, membership in U.S. based credit unions increased by 1.6% compared to
an increase of 0.9% for the Canadian-based credit unions. Both credit union movements have
been consolidating and the number of credit unions has been decreasing dramatically. Over the
last ten years. U.S.-based credit unions system has decreased the number of credit unions by
2,712 or 26.6% decline, the number of credit unions declined from 9,668 in 2002 to 6,956 in
2012. The Canadian-based credit unions system has consolidated even more and has seen the
number of credit unions decline by 6,567 or 46.7%. The number of credit unions in 2002 was
1,404 and in 2012 there were 748 credit unions. This major consolidation may partially explain
why the Canadian-based credit unions are on average larger than the U.S-based credit unions.
Page 33
5 yr
Avg
Canada
2008
2009
2010
2011
2012
Number of credit unions
Growth %
1,008
-4.8%
945
-6.3%
877
-7.2%
826
-5.8%
748
-9.4% -6.7%
# of CU with $1 billion in assets
Membership (millions)
Growth %
26
25
25
27
28
10.906
0.5%
10.818
-0.8%
10.764
-0.5%
10.730
-0.3%
10.825
0.9%
Assets ($billions)
Loans ($billions)
Savings ($billions)
$226
$188
$194
$241
$198
$208
$256
$212
$218
$278
$228
$231
$300
$246
$247
Loan to assets
Loan growth %
Savings growth %
Asset growth %
83%
7.3%
10.8%
8.6%
Assets per member
Assets per credit union
82%
5.7%
6.8%
6.5%
83%
6.9%
5.2%
6.3%
82%
7.7%
5.6%
8.7%
0.0%
82% 82.4%
7.5% 7.0%
6.9% 7.1%
7.6% 7.6%
$20,741 $22,275 $23,799 $25,954 $27,687 7.6%
$224.4
$255.0
$292.1
$337.1
$400.7 15.3%
Total Assets of 10 largest CUs
Asset growth %
% of total movement assets
$50.1
6.9%
22%
$54.8
9.4%
23%
$61.3
11.9%
24%
$67.8
10.5%
24%
$73.5
8.4%
25%
9.4%
Number of Credit Unions
# of CUs
9,000
8,000
United States
7,000
Canada
6,000
5,000
4,000
3,000
2,000
1,000
0
2006
United States 8,535
Canada
1,108
2007
8,268
1,059
2008
7,965
1,008
2009
7,708
945
2010
7,486
877
2011
7,236
826
2012
6,956
748
Years
Page 34
Membership
100.0
90.0
80.0
Millions
70.0
60.0
50.0
United States
40.0
Canada
30.0
20.0
10.0
0.0
2006
2007
2008
2009
2010
2011
2012
United States 87.4
88.5
89.9
91.2
91.2
92.2
93.7
Canada
10.815 10.847 10.906 10.818 10.764 10.730 10.825
Years
Assets of Credit Unions in $billions
$1,200
United States
Canada
$1,000
$800
$600
$400
$200
$0
United States
Canada
2006
$726
$194
2007
$770
$208
2008
$824
$226
2009
$897
$241
2010
$927
$256
2011
$974
$278
2012
$1,035
$300
Years
Page 35
Asset Growth %
10.0%
9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
United States
3.0%
Canada
2.0%
1.0%
0.0%
2006
United States 7.0%
Canada
8.0%
2007
6.0%
7.4%
2008
6.9%
8.6%
2009
8.9%
6.5%
2010
3.3%
6.3%
2011
5.1%
8.7%
2012
6.2%
7.6%
Years
$Millions
Average Size of Credit Union
$450.0
$400.0
$350.0
$300.0
$250.0
$200.0
$150.0
$100.0
$50.0
$0.0
United States
Canada
2006 2007 2008 2009 2010 2011 2012
United States $85.1 $93.1 $103.4 $116.3 $123.8 $134.6 $148.8
Canada
$175.0 $196.6 $224.4 $255.0 $292.1 $337.1 $400.7
Years
Page 36
Assets per Member
$30,000
$25,000
$20,000
$15,000
United States
$10,000
Canada
$5,000
$0
2006
2007
2008
2009
2010
2011
2012
United States $8,310 $8,702 $9,160 $9,838 $10,163 $10,562 $11,040
Canada
$17,926 $19,196 $20,741 $22,275 $23,799 $25,954 $27,687
Years
# of Billion $ Credit Unions
250
200
150
United States
100
Canada
50
0
United States
Canada
2008
132
26
2009
137
25
2010
159
25
2011
173
27
2012
194
28
Years
Page 37
Credit Unions’ participation in the Brokerage Industry
The brokerage industry in Canada has progressed significantly over the last 30 years. Until the
late 1980s most of the independent securities firms were owned by their senior partners. This
structure was difficult to maintain in the face of increasing demands for capital, growing global
competition, greater market volatility and cyclical earnings performance. In response, the
federal and provincial governments introduced legislation to open up ownership of the
securities industry to Canadian banks, trust companies and credit unions as well as foreign
securities firms.
The result was a major ownership realignment of the securities industry. Five of the big six
banks acquired major investment dealers, while the sixth (TD Canada Trust) decided to build its
own investment dealer from the ground up. Today all of Canada’s large integrated securities
firms are bank-owned.
The discount brokerage business began in Canada when Desjardins Group created Disnat in
1982 and began to offer discount services for Canadian securities. In early 2000, many of the
banks and credit union related organizations formed on-line brokerage firms. The following
three on-line brokerage firms were created to service the investment needs of the members of
credit unions and caisses populaires:

Qtrade Financial Group with headquarters in Vancouver, British Columbia was formed
in 1999 and now provides wealth management services to the retail public and to
customers of over 180 financial institutions including credit unions, banks, trust
companies and financial planning companies across Canada. Qtrade Financial Group
started an on-line independent brokerage firm in March 2001, called Qtrade Investor.
In April 2013, Desjardins Financial Corporation Inc., a subsidiary of Desjardins Group
completed the purchase of 40% of Qtrade Financial Group’s outstanding shares on a
fully diluted basis. Desjardins has the right to acquire the majority of the remaining
Qtrade shares over the next six years. Qtrade recently entered into and strengthened
their strategic relationships with First West Credit Union, Coats Capital Credit Union and
Prairie Centre Credit Union.

Credential Financial Inc. provides integrated wealth management solutions and services
to the Canadian credit union system. By partnering with Credential, credit unions can
offer their members access to a diverse range of investment and insurance products, as
well as investment planning, advice and sound portfolio management. Credential
Financial is a national wealth management firm, with over 20 years of experience in the
Canadian financial services industry, offering a full suite of products and services to over
225 organizations and more than 1,300 advisors. Credential and its member companies
(Credential Asset Management, Credential Securities, Credential Direct, and Credential
Page 38
Insurance Services) provide MFDA and IIROC dealer services, online brokerage, and
insurance solutions to credit unions and independent financial institutions across
Canada. Credential Financial established Credential Direct in October 2000, as a full
service online brokerage delivering access to self-managed equity, mutual funds, bonds,
and options trading to all Canadians. Credential is owned 50% by the Provincial Credit
Union Centrals and 50% by The CUMIS Group.

Disnat is a division of Desjardins Securities, the brokerage arm of Desjardins Group and
its head office is located in Montreal. Disnat was started in 1982 and was the first
company in Canada to offer discount services for Canadian securities. In 2002, Disnat
Direct was formed to give active investors direct access to the markets.
The credit union owned or related on-line brokerage firms have improved their service levels
and product offerings significantly over the last 10 years. They have improved or maintained
their strong standing in the annual survey rankings compiled by Surviscor , Globe Investor and
more recently J.D. Power and Associates.
Surviscor
Surviscor is a Canadian firm located in Toronto that analyzes and ranks Canadian online services
that are offered to either retail consumers or professional users. Surviscor produces annual and
semi-annual ScorCards™ that rank the individual online firms within their online industry.
The firms' percentage score is based on the availability of its offerings as compared to the
number one peers in each category. The Discount Brokerage scorCard continues to expand and
is the most comprehensive online brokerage analysis in North America. The scorecard reviews
over 3,300 features and functionality criteria questions which make ip 32 sub-categories and 7
main categories.
The category winners are: Scotia iTrade (Website Usability); BMO InvestorLine (Getting
Started, Account Services and Website transactions) and Virtual Brokers (Cost of Services); and
TD Waterhouse (Market Intelligence and Online Resources).
The three online brokers servicing the credit union system have seen their rankings change
from previous surveys as ranked by Surviscor as follows:
1. Qtrade Investor has improved its score slightly to 81% but in latest ranking moved to 3nd
place from 2nd place in the previous survey.
Page 39
2. Credential Direct has seen its score improved from 74% to 77% in the most recent
survey. In the rankings moving 5th place in 2012 and being tied for 4th place in the most
recent survey.
3. Disnat Direct ranking remained at 9th place.
Surviscor 1Q 2013
12th survey
Online Discount Brokerage ScorCard
Investor
Scotia iTrade (E*Trade Canada)
BMO InvestorLine
Qtrade Investor
TD Waterhouse
Credential Direct
RBC Direct Investing
Virtual Brokers
National Bank Direct Brokerage
Disnat Classic
CIBC Investors Edge
Questrade
HSBC InvestDirect
Jitney Trade
Laurentian Direct
Rank
2013
Rank
2012
Rank
2011
Rank
2010
1
2
3
4
4
6
7
7
9
10
11
12
13
14
84%
82%
81%
77%
77%
73%
68%
68%
63%
62%
57%
52%
33%
26%
1
3
2
4
5
6
7
8
9
10
11
12
13
14
87%
77%
80%
77%
74%
72%
66%
66%
64%
62%
55%
53%
34%
26%
6
2
3
1
3
3
11
6
8
9
10
12
13
14
69%
76%
75%
80%
75%
75%
49%
69%
66%
61%
56%
45%
39%
31%
6
5
4
1
2
3
11
7
13
8
10
12
14
15
54.31
55.44
57.95
61.60
59.59
58.50
42.87
50.24
39.06
50.21
46.81
39.93
34.75
27.19
The Criteria- (as outlined in the Surviscor survey)
Surviscor reviews all Canadian discount brokerage firms including bank-owned and
independent firms. Traditional day trading firms are included providing they meet the minimum
requirements for inclusion. The Firms are evaluated for the online features and functionality
offered.
The minimum requirements are:
1.
2.
3.
4.
Transactional capabilities in Canadian and US markets
Physical location in Canada with minimum registration requirement of 2 provinces
Ability to establish a registered account
Minimum account opening balance requirement no greater than $10,000 CDN
The Main Categories:
The Getting Started category explores the features and functionality available on the public
site. The primary areas of analysis are the application process and the email responsiveness
results (CER) with both customers and non-customers.
The Website Usability category explores the general online experience of the user and the
ability of the firm to provide an easy to use site. The primary areas of analysis are policies,
customization and integration.
Page 40
The Account Services category explores the various customer touch points and online servcies.
The primary areas of analysis are the available e-services and the access of account information
details.
The Market Intelligence category focuses on the informational aspect of all market intelligence
available to users.
The Website Transactions category focuses on the online order screens and the feature and
experience available to the customer. The primary area of analysis is the equity order process.
The Online Resources category focuses on the level of investment and planning tools available
to the online user and analyzes the level of supporting education content and features.
The Cost of Services category focuses on the cost of doing business with the firm by
establishing a basket of transactions. The basket is established using three Investor profiles;
Passive, Serious and Active, and reviews each at three different asset levels. All firms are
analyzed using identical transactions.
Globe Investor
Globe Investor owned by The Globe and Mail has completed fourteenth annual surveys since
1998. The 2012 survey was released on November 21, 2012 and encompassed the following
components:
Here’s some information about the five broad categories in which brokers are graded:
Cost-25% of the Score: Brokers who score well in this category maintain a low hurdle for clients
to qualify for sub-$10 stock trades. Commissions on bonds and mutual funds are also
considered, as are administration fees for registered accounts and the availability of
commission-free ETF investing.
Account Information-25% of the Score: This category has been given an increased emphasis in
the past few rankings because it’s vitally important for clients to have a clear picture of how
their entire account is performing, rather than seeing only whether individual securities are up
or down.
Trading-20% Of Score: Brokers are graded here on their webpage for trading stocks, bonds and
funds; on the range of investment products clients can buy online; and the availability of
Page 41
registered accounts that can hold U.S. dollars (many brokers force a conversion into Canadian
dollars when clients sell U.S. stocks or receive dividends from such stocks).
Tools-20% of the Score: This category covers the variety and exclusivity of a broker’s research,
financial planning and stock/ETF/mutual fund screening tools. Having a useful ETF centre is a
plus, as are well-located explanatory videos that easy to find as you go about your research and
trading.
Innovation-10% of the Score: Which firms are leaders in terms of cutting prices and introducing
new services, and which are followers?
The broker that comes out on top is Virtual Brokers Inc. Rob Carrick of the Globe and Mail
noted: “These guys are nimble, fresh thinkers who don’t play follow the leader. They aim to be
the leader, and they’re succeeding by emphasizing low costs and by developing a Web interface
for trading and researching stocks that may be the best out there for the mainstream investor.”
They overtook Qtrade Investor only marginally, which had achieved the No. 1 ranking for six
straight years now.
The low-cost leader is Virtual Brokers or the second year in a row, while Qtrade Invest is ranked
the highest (22 points) for its account information. Qtrade Investor and Virtual Brokers are tied
for best trading system at 18 points each. TD Waterhouse has the best tools with a score of 20
points. Virtual Broker Inc. was ranked number 1 for innovation with 10 points out of 10.
Globe Investor
14th Online Broker Survey
Overall Ranking
Virtual Brokers
Qtrade Investor
BMO InvestorLine
Scotia iTrade
TD Waterhouse
Credential Direct
Questrade
Disnat (Classic)
CIBC Investors Edge
HSBC Invest Direct
Scotia McLeod Investment
Average
Rank
2012
Rank
2011
Rank
2010
1
78.5
2
71.0
n/a
n/a
n/a
n/a
2
3
4
5
6
7
8
9
10
11
12
13
78.0
67.5
66.0
64.5
61.0
58.0
56.0
53.5
51.0
50.5
50.0
0.0
61.5
1
3
4
5
7
6
10
9
8
12
11
13
77.0
68.0
67.5
66.5
60.5
66.0
55.5
55.5
57.0
40.0
53.0
0.0
57.0
1
3
6
2
4
5
7
9
8
12
10
11
81.1
70.5
66.0
75.3
70.1
70.0
59.0
58.2
58.8
45.0
52.3
48.5
58.1
1
3
4
5
6
2
10
7
9
12
8
11
77.4
74.1
71.6
70.8
70.0
74.8
58.6
66.1
60.3
56.2
62.7
58.6
62.2
Rank 2009
Page 42
Globe Investor 2012
Rank Broker
1
2
3
4
5
6
7
8
9
10
11
12
Virtual Brokers
Qtrade Investor
BMO Investorline
Scotia iTrade
TD Waterhouse
Credential Direct
Questrade
Disnat (Classic)
CIBC Investor's Edge
HSBC InvestDirect
National Bank Direct
Average
Globe Investor 2011
Rank Broker
1
2
3
4
5
6
7
8
9
10
11
12
Qtrade Investor
Virtual Brokers
BMO Investorline
Scotia iTrade
Credential Direct
TD Waterhouse
CIBC Investors Edge
Disnat (Classic)
Questrade
HSBC InvestDirect
Average
Globe Investor 2010
Rank Broker
1
2
4
5
6
6
7
8
9
10
11
12
13
Qtrade Investor
TD Waterhouse
Credential Direct
BMO InvestorLine
Questrade
Disnat
National Bank Direct Investing
ScotiaMcLeod Direct Investing
HSBC InvestDirect
Virtual Brokers
Average
Costs
(/25)
Account
Info
Trading
(/25)
(/20)
Tools
(/20)
Innovation
(/10)
Total
(/100)
18.0
18.0
15.5
13.0
9.5
14.0
9.0
14.0
7.5
11.0
10.5
10.0
12.5
12.5
15.0
16.0
17.0
18.0
20.0
14.0
11.0
14.0
12.0
9.0
14.0
14.4
10.0
8.0
7.0
7.5
5.5
6.0
4.0
8.0
4.0
5.0
2.0
2.0
5.8
78.5
78.0
67.5
66.0
64.5
61.0
58.0
56.0
53.5
51.0
50.5
50.0
61.2
Costs Trading
(/25) (/25)
Tools
(/20)
Account
Info
(/20)
Customer
Innovation
(/10)
Total
(/100)
16.0
23.5
10.0
18.0
10.0
12.5
10.0
14.5
10.5
16.0
8.5
10.0
13.3
15.0
11.0
16.5
13.0
18.0
14.5
18.0
15.0
15.0
10.5
14.0
6.0
13.9
18.0
10.0
18.5
13.0
16.0
18.0
11.0
8.0
15.0
9.0
16.5
10.0
13.6
7.0
8.0
6.5
7.0
5.0
5.0
4.5
6.0
3.5
6.5
3.5
1.0
5.3
77.0
71.0
68.0
67.5
66.5
66.0
60.5
57.0
55.5
55.5
53.0
40.0
61.5
24.0
15.0
10.0
14.5
12.5
11.0
12.0
15.0
11.0
14.0
14.0
10.0
13.6
14.0
22.0
19.0
14.0
19.0
10.0
19.0
8.0
17.0
9.0
15.0
14.0
15.0
21.0
18.5
16.5
16.5
17.5
16.0
17.0
13.5
11.5
13.5
10.5
13.0
15.4
Costs Trading
(/25) (/25)
20.5
17.0
15.0
18.5
14.0
22.0
22.0
19.0
13.5
10.0
11.5
13.0
21.0
16.4
20.0
16.0
17.0
14.0
16.0
16.0
15.0
14.5
14.0
11.0
10.0
13.0
11.0
14.0
Tools
(/20)
Account Customer
Info
Satisfaction Total
(/10)
(/15)
(/100)
14.0
17.0
17.0
11.5
13.0
8.5
8.0
11.0
12.0
8.0
12.0
7.0
5.0
10.8
13.5
14.0
8.0
13.5
15.0
7.0
4.0
4.5
7.5
11.0
5.0
2.5
5.0
8.1
9.6
8.3
9.1
8.5
8.5
8.0
9.0
6.8
9.2
8.3
8.0
6.5
n/a
8.2
77.6
72.3
66.1
66.0
66.5
61.5
58.0
55.8
56.2
48.3
46.5
42.0
n/a
58.11
Page 43
Globe Investor 2009
Rank Broker
1
2
3
4
5
6
7
8
9
10
11
12
n/a
Fees &
Tools & Account Customer
Comm Trading Research
Info
Satisfaction Total
(/25) (/25)
(/20)
(/10)
(/15)
(/100)
Qtrade Investor
Credential Direct
BMO InvestorLine
TD Waterhouse
Disnat
National Bank Direct Investing
Questrade
HSBC InvestDirect
TradeFreedom
Average
16.0
19.5
15.5
21.0
18.5
14.5
16.0
12.0
15.5
11.5
20.0
16.0
n/a
16.4
21.0
16.5
15.5
17.0
14.0
14.5
13.0
12.0
13.0
14.5
11.5
15.0
n/a
14.2
14.0
12.0
16.0
12.0
18.0
18.5
15.0
13.0
11.0
14.0
8.5
9.5
n/a
13.4
10.0
10.0
10.0
5.0
4.5
8.0
7.0
8.5
5.0
5.0
4.0
2.0
n/a
6.3
11.9
12.3
12.1
12.1
12.3
12.0
12.1
12.2
11.3
11.6
12.6
10.7
n/a
11.9
72.9
70.3
69.1
67.1
67.3
67.5
63.1
57.7
55.8
56.6
56.6
53.2
n/a
62.21
Comments by Rob Carrick of the Globe and Mail – November 21, 2012 about the firms
providing online brokerage services to the Credit Union Movement
Qtrade Investor Owner: Privately held
Comment: Qtrade is so thorough in borrowing the best features of its competitors that it has
even added a taste of Virtual Brokers’ cool website interface. The result for clients is a firm that
offers the best of almost everything, including reasonable trading costs, detailed account
performance reports and research tools. Note: Qtrade charges electronic communications
network (ECN) fees for some Canadian market trades in addition to regular commissions.
Readers have complained repeatedly about this over the years.
Credential Direct Owner: Credential Financial Inc., the credit union movement’s wealth
management provider
Comments: Credential’s mid-pack status is secured mainly by the fact that it does good work in
helping clients keep track of how their accounts are performing. Otherwise, it’s generally
adequate but not outstanding in any way. Oh, wait. The stock-trading commission schedule is
outstandingly uncompetitive. There’s no reason why investors with assets of $50,000+ should
pay $19 or potentially much more to trade stocks when most everyone else charges a flat $10
or so.
Disnat Owner: Caisses Desjardins
Comments: Far from the best in any category, but you have to be impressed by the fact that
Disnat keeps taking top spot in the annual online brokerage customer satisfaction survey run by
J.D. Power and Associates.
Page 44
J.D. Power and Associates
J.D. Power and Associates released its 2012 Canadian Discount Brokerage Investor Satisfaction
Study on September 20, 2012. The study, now in its fourth year, examines investor satisfaction
with their primary discount brokerage firm by measuring six key factors. In order of importance,
they are: interaction; account information/statements; trading charges and fees; account
offerings; information resources; and problem resolution.
The 2012 survey covers eleven discount brokerage firms. The industry satisfaction average in
2012 was 700 compared to 679 on a 1,000 point scale in 2011, an increase of 21 points. In
comparison, investor satisfaction in the U.S. averages 768. The Canadian discount brokerage
firms are slowly closing the satisfaction gap with U.S. firms. Further, satisfaction in the Canadian
discount brokerage industry trails satisfaction in the Canadian full service brokerage industry by
20 points and in the retail banking industry by 53 points.
J.D. Power noted in their study “that the largest gaps in satisfaction between brokerage firms in
Canada and the United States are with problem resolution (568 vs 817, respectively); trading
charges and fees (622 vs 697, respectively); and interactions (752 vs 817, respectively). Among
the best service practices that drive satisfaction with discount brokerage firms, Canada
significantly trails the United States in contacting investors regarding products, services and
seminars; website accessibility; and the usage of asset allocation and financial planning tools.”
Disnat owned by the Desjardins system ranks the highest in discount brokerage satisfaction for
the fourth consecutive year with a score of 768 out of 1,000-point scale compared to 729 in the
previous year. Disnat performed particularly well in account information and information
resources. Qtrader Investor was ranked tenth with a score of 678 out of 1,000-point scale.
J.D. Power and Associates offers the following tips to investors selecting a discount brokerage
firm:

Consider the full range of services beyond the per-trade commission. In typical
transactions, a $5-$10 difference in commission is a very small percentage of the overall
value of the trade. The value provided beyond the cost in terms of offerings, tools and
resources may be much more compelling.

While more convenient to invest with the same financial institution as your primary
bank, exploring the offerings from other, sometimes smaller investment firms may be
Page 45
worthwhile. Although they do not have as robust a branch network as the larger
financial institutions, smaller discount brokerage firms often have a positive image
among their investors.

Read the fine print regarding the fees you will be assessed. Often times, fees vary by the
size of your account, as well as the frequency of your transactions.
The 2012 Canadian Discount Brokerage Investor Satisfaction Study includes responses from
nearly 2,900 investors who use investment services with discount brokerage firms in Canada.
The study was fielded from June 2012 through July 2012.
Page 46
Page 47
Page 48
J.D. Power and Associates
2010 Canandian Discount Brokerage Investor Satisfaction Survey
Customer Satisfaction Index Ranking
740
725
720
Disnat
720
716
BMO Investorline
707 706 706
700
686
680
679
Industry Average
668 668
660
TD Waterhouse Discount
640
Questrade
620
600
CIBC Investors Edge
Index
Scotia iTrade
Surviscor – 2012 – Online Banking Study
BMO Bank of Montreal is the top customer service firm in the Canadian online banking industry
in 2012. BMO Bank of Montreal, a first time winner, replaces the 2011 winner Desjardins Bank.
BMO Bank of Montreal won with a CER score of 96% and an average response time slightly
below 4 hours.
Surviscor reviews the major Canadian online banking firms and the top Canadian credit unions.
Surviscor's Customer Email Responsiveness (CER) Program determines an online firm’s ability to
efficiently respond to customer, or potential customer emails that are presented to the firms
via public email boxes or public customer contact forms.
The members of the credit union movement held six of the top 10 positions in this survey of the
major Canadian online banking firms and eleven of the top 27 Canadian online banking firms
are credit unions.
Surviscor's Response Standards have been developed based upon the total response times. The
Surviscor Response Standards are:
Page 49
1.
Platinum - Less than 4 hours
2.
Gold - 4 to 8 hours
3.
Silver - 8 to 12 hours
4.
Bronze - 12 to 16 hours
Only two firms attained the Platinum Response Standard (BMO Bank of Montreal and
Steinbach Credit Union) while an additional nine firms attained at least one of the remaining
Response Standards. The concerning statistic is that near 60% of the online banking firms do
not meet any of the 'very attainable' Response Standards.
The notable firms were ING Direct, National Bank of Canada, Scotiabank, TD Canada Trust,
HSBC Bank of Canada and Laurentian Bank of Canada.
The other firms that did not meet any of the Response Standards were PC Financial, ICICI Bank,
Envision Credit Union, Ally, ATB Financial, Pace Credit Union, Servus Credit Union, Alterna Bank,
First Calgary Savings and Canadian Direct Financial.
Page 50
Rank Name of Financial Institution
Score
1
96%
BMO Bank of Montreal
2
93%
Steinbach Credit Union
3
83%
Meridian Credit Union
4
76%
Assiniboine Credit Union
5
75%
Conexus Credit Union
6
74%
Desjardins Bank
7
70%
Coast Capital Savings
8
68%
Vancity
9
66%
Manulife Bank of Canada
10
63%
CIBC
11
59%
PC Financial
12
57%
RBC Royal Bank
13
46%
Envision Credit Union
14
42%
ICICI Bank
15
41%
National Bank of Canada
16
39%
Ally
17
38%
Scotiabank
18
28%
TD Canada Trust
19
26%
ATB Financial
20
21%
ING Direct
21
18%
Pace Credit Union
T-22 Servus Credit Union
14%
T-22 Alterna Bank
14%
24
11%
First Calgary Financial
25
8%
HSBC Bank of Canada
26
5%
Canadian Direct Financial - Canadian Western Bank
27
3%
Laurentian Bank of Canada
On-line Deposit Taking Institutions
The online deposit alternative was essentially started in 1996 by President’s Choice Financial is
banking service provided by Loblaw Companies (a supermarket chain) in conjunction with
Canadian Imperial Bank of Commerce (“CIBC”). It was essential a joint venture Loblaw
Companies and CIBC. Shortly after in April 1997, ING Direct opened their doors for business.
Since then a number of national financial institutions or joint ventures joined the online deposit
taking industry. In October 2006, Canadian Tire Bank began to offer more traditional banking
Page 51
services over the phone or online: (1) High interest savings account; (2) Tax Free Savings
Account and (3) Guaranteed Investment Certificates. Ally Credit Canada Ltd. began offering
other online savings products in 2007. Ally Credit Canada Ltd. was formerly GMAC Canada,
which was owned by General Motors (Automobile manufacturer).
Five Manitoba based credit unions opened online deposit taking institutions beginning with:



Achieva Financial was established by Cambrian Credit Union in 1998. Cambrian CU has
assets of $2.4 billion and deposits of $2.2 billion as at December 31, 2011.
Accelerate Financial was established by Crosstown Civic Credit Union in July 2007.
Crosstown Civic CU had assets of $1.4 billion and deposits of $1.3 billion as at December
31, 2011.
Hubert Financial was established by Sunova Credit Union on November 15, 2010.
Sunova CU had assets of $808 million and deposits of746 million as at December 31,
2011.
I was unable to determine the dates when the following two online deposit taking institutions
were established:
 MAXA Financial was established by Westoba Credit Union, which had assets of $1.0
billion and deposits of $963 million as at December 31, 2011.
 Outlook Financial was established by Assiniboine Credit Union, which has assets of 3.1
billion and deposits of $2.9 billion as at December 31, 2011.
[Brief descriptions of each of the online deposit taking institutions is provided below –
information taking from their websites]
The Manitoba based credit union owned online deposit taking institutions have been using
their competitive deposit insurance offering. They have been saying in their promotional
materials that “All deposits and interest are 100% guaranteed by the Deposit Guarantee
Corporation of Manitoba”.
The acquisition of ING Direct by ScotiaBank may create opportunities for credit union owned
online deposit taking institutions, because some of the online customers who did not like to
deal with banks and used ING direct may be looking to use one the Manitoba credit union
owned online deposit taking institutions.
ING Direct Acquisition
Page 52
On August 29, 2012, ScotiaBank announced that it has reached a definitive agreement to
purchase ING Bank of Canada (ING DIRECT) from Netherlands-based parent ING Group for
$3.126 billion in cash, which is expected to result in a net investment by ScotiaBank of
approximately $1.9 billion after deducting the excess capital currently at ING DIRECT. This
acquisition is subject to regulatory approvals.
ING Direct has approximately $40 billion in assets, $30 billion in deposits (95% retail), 1.8
million customers, and over 1,100 employees, ING Direct is the 8th largest bank in Canada. It is
a direct bank that serves customers online, via contact centres and mobile devices, offering
savings, chequing, mortgages and four mutual funds. It has five ING DIRECT Cafés and no
physical branches. ING Direct has a strong mortgage portfolio of $29 billion with 59% of
mortgages insured and an average loan-to-value ratio on uninsured mortgages of 53%. Credit
quality is high with provisions for credit losses below 0.02%. Interestingly, ScotiaBank paid P/E
ratio of 16.3x (adjusted for excess capital). The transaction is expected to close in December
2012.
ScotiaBank is aware of the potential for depositors to reject the bank’s ownership and have
assured the market that ING Direct’s branding will be maintained under license and any future
branding will reflect the type of experience that customers have received up to now.
AcceleRate Financial
AcceleRate Financial is the virtual division of Crosstown Civic Credit Union, a Manitoba based
financial institution. Crosstown Civic Credit Union was established in July 2007 when two major
Credit Unions in Winnipeg decided to merge, Crosstown Credit Union established in 1944 and
Civic Credit Union established in 1943. Both of these organizations shared many positive
qualities including above average efficiency and better rates and product pricing than generally
available at other financial institutions. AcceleRate Financial offers a variety of products for the
savvy investor:
 AcceleRate Savings Account
 Variable Tax Free Savings Account
 Variable Registered Retirement Savings Plan
 Variable Registered Retirement Income Fund
Page 53
AcceleRate Guaranteed Investment Certicates (GICs) - AcceleRate Financial offers a variety of
terms to suit the investor's needs. The terms we offer are from 1-7 years. Any of these term
investments can be held in any of the products that AcceleRate has to offer.
 AcceleRate Savings GIC
 Tax Free Savings Account GIC
 Registered Retirement Savings Plan GIC
 Registered Retirement Income Fund GIC
Achieva Financial
Achieva Financial was established by Cambrian Credit Union in 1998 as one of Canada's first
virtual financial institutions. Operating as a virtual financial institution allows Achieva to offer
some of the most competitive interest rates across the country. This sets Achieva apart from
others in the industry and allows for Big Return, No Risk saving and investing. Achieva offers a
full suite of deposit products such as:





Daily Interest Savings Accounts
Guaranteed Investment Certificates (GICs)
Registered Retirement Savings Plans (RRSPs)
Registered Retirement Income Funds (RRIFs)
Tax Free Savings Accounts (TFSAs)
Achieva Guaranteed Investment Certificates (GICs) - Earn the same rate every year of the term.
No escalating features that hide a lower overall rate. We offer GICs in 1 to 5 year terms and as:
 Achieva GIC
 RRSP GIC
 RRIF GIC
 TFSA GIC
MAXA Financial
MAXA Financial, a division of Westoba Credit Union Ltd., is a Manitoba-based financial
institution.
Maxa Financial offers their services by mail, telephone, fax, ATM or via the Internet to all
consumers in Canada. Without the bricks and mortar of the traditional financial institution, we
Page 54
can offer superior rates for our Investment products - MAXA Savings, MAXA GICs, MAXA RRSPs
and MAXA TFSAs. MAXA Financial provides you with deposit products at superior rates.
Deposit Guarantee - Member savings and deposits at MAXA Financial are 100% guaranteed by
the Deposit Guarantee Corporation of Manitoba. The corporation is the deposit insurer for all
of Manitoba's credit unions. As established under the Credit Union and Caisse Populaires Act,
the corporation is required by law to guarantee all deposits by credit union members, without
limit.
Outlook Financial
Outlook Financial's services are delivered through the convenient technology you have at your
fingertips: telephone, Internet, ATMs and Canada Post. Using technology means we don't have
the extra expenses associated with maintaining a branch network. As a result, we can offer you
better interest rates and greater savings. In fact, we have a track record for delivering some of
Canada's highest interest rates! Outlook Financial is a division of Assiniboine Credit Union
located in Winnipeg, Manitoba.
Outlook offers financial services to suit every kind of investor. Choose from High-Interest
Savings, Guaranteed Investment Certificates, RRSPs, RRIFs and TFSAs that go to work for you at
higher rates than you'll find at conventional financial institutions. Plus our Cashable GICs offer
you the flexibility of redeeming your investment any time. All your Outlook Financial deposits
and interest are 100% guaranteed without limit by the Deposit Guarantee Corporation of
Manitoba.
Hubert Financial
Hubert Financial is a division of Sunova Credit Union, one of the top 50 credit unions in Canada.
Sunova was established over 50 years ago and serves over 27,000 members across 11 locations
in Manitoba.
Hubert Financial is an online financial institution offering savings products at your fingertips.
Unlike traditional financial institutions, our services are accessed solely online which means you
can sign up and access your Hubert accounts anytime, anywhere. And because we are 100%
online and don’t incur the expenses associated with bricks and mortar branches, we can offer
Hubert members some of the highest savings rates around, no strings attached. The theory is
simple. Virtual banking saves us money, so we’re passing along the savings to our members in
Page 55
the form of high interest rates. All delivered in a pretty awesome online package, if we do say
so ourselves. And, every penny invested with Hubert is 100% guaranteed by the Deposit
Guarantee Corporation of Manitoba.
Proposed Federal Credit Union Regulations
On July 7, 2012, Finance Minister Jim Flaherty announced draft regulatory changes that, when
finalized, will establish a legal framework to allow credit unions the option to be incorporated
and regulated at the federal level. These changes will support the evolution of the Canadian
credit union system by providing interested credit unions with an option to operate across
Canada and beyond their current provincial boundaries.
Bill C-9, the Jobs and Economic Growth Act, which received Royal Assent on July 12, 2010,
introduced a framework for federal credit unions that is largely predicated on amendments to
the Bank Act. As a result, a federal credit union will be a “bank” under the Bank Act, albeit one
that is organized and carries on business on a cooperative basis, and will be subject to all
applicable provisions of the Bank Act and its associated regulations.
On July 7th, the federal government published for comment the following draft regulations and
Canadian Payments Association (CPA) By-law amendments in Part I of the Canada Gazette.
Comments must be submitted by August 6, 2012.







Disclosure on Continuance Regulations
By-law Amending Certain By-laws Made Under the Canadian Payments Act
Regulations Amending the Canadian Payments Association Election of Directors
Regulations
Guidelines Respecting Control in Fact for the Purposes of Section 377.2 of the Bank Act
Prospectus (Federal Credit Unions) Regulations
Federal Credit Union Conversion Regulations
Regulations Amending Certain Regulations made under the Bank Act
Which Credit Unions could potentially take advantage of the Federal Option
Based on the table below, the top 5 credit unions in British Columbia have a market share of
70.2% of the total assets of the credit unions in the province and the top 5 credit unions in
Alberta have a market share of 82.5% of the total assets of the credit unions in the province.
These credit unions could potentially be candidates for expansion into other provinces.
Saskatchewan and Manitoba’s top 5 credit unions have market shares of 60.8% and 59.7%
Page 56
respectively. The continued consolidation of the credit union movement will result in the need
to form a few Federal credit unions which can create efficient and cost effective “cooperative”
banks. I believe that only those credit unions that are well capitalized (i.e. capital to asset ratios
in excess of 7%) will be in a position to meet the tougher Federal regulations and be allowed to
become Federal “cooperative” credit unions.
There are a few “ethnic” credit unions that are well capitalized, which could endeavour to
expand their operations across provincial boundaries by using the Federal “cooperative” bank
option.
Markert Share Top 5 Credit Unions
2012
Assets
($Mils)
British Columbia
Vancouver City Savings
First West (formerly Envision)
Prospera
Westminster Savings
Total top 5
Total all credit unions in BC
Market share of top 5
Vancouver
Surrey
Langley
Abbotsford
New Westminster
$17,056
$12,600
$5,887
$2,316
$2,291
$40,149
$57,193
70.2%
Manitoba
Steinbach
Steinbach
Assiniboine
Winnipeg
Cambrian
Winnipeg
Crosstown Civic
Winnipeg
Access
Winnipeg
Total top 5
Total all credit unions in Manitoba
$3,963
$3,431
$2,764
$1,699
$1,507
$13,364
$22,367
59.7%
Edmonton
Calgary
Brooks
Camrose
Olds
$12,185
$2,663
$807
$579
$564
$16,797
$20,358
82.5%
Ontario
Meridian
Alterna Savings
First Ontario
Libro
Duca Financial Services
Total top 5
Total all credit unions in Ontario
$8,745
$2,386
$1,806
$1,736
$1,277
$15,951
$36,002
44.3%
Regina
Saskatoon
North Battleford
Lloydminster
Yorkton
$4,202
$2,474
$1,657
$1,128
$807
$10,268
$16,890
60.8%
Atlantic Provinces
East Coast
Bayview
Credit Union Atlantic
Bergengren
Total top 5
Total all credit unions in Atlantic
Alberta
Servus
First Calgary Savings
Chinook
Battle River
Mountain View
Total top 5
Total all credit unions in Alberta
Saskatchewan
Conexus
Affinity
Innovation
Synergy
Cornerstone
Total top 5
Total all credit unions in Sask.
St. Catharines
Ottawa
Hamilton
London
Toronto
St. John's
Darmouth
St. John
Halifax
Antigonish
Assets
($Mils)
$489
$361
$337
$329
$208
$1,723
$7,401
23.3%
Page 57
2011
Assets
($Mils)
British Columbia
Prospera
Westminster Savings
Total top 5
Total all credit unions in BC
Vancouver
Surrey
Langley
Abbotsford
New Westminster
$16,127
$11,768
$5,459
$2,143
$2,132
$37,630
$54,129
69.5%
Manitoba
Steinbach
Steinbach
Assiniboine
Winnipeg
Cambrian
Winnipeg
Crosstown Civic
Winnipeg
Access
Winnipeg
Total top 5
Total all credit unions in Manitoba
$3,556
$3,117
$2,398
$1,443
$1,408
$11,921
$20,104
59.3%
Edmonton
Calgary
Brooks
Olds
Camrose
$11,235
$2,461
$735
$553
$534
$15,518
$18,860
82.3%
Ontario
Meridian
Alterna Savings
Libro
First Ontario
Total top 5
Total all credit unions in Ontario
$7,842
$2,294
$1,587
$1,345
$1,185
$14,252
$33,540
42.5%
Regina
Saskatoon
North Battleford
Lloydminster
Yorkton
$3,817
$2,334
$1,483
$988
$764
$9,386
$15,631
60.0%
Alberta
Servus
Chinook
Mountain View
Battle River
Total top 5
Total all credit unions in Alberta
Saskatchewan
Conexus
Affinity
Innovation
Synergy
Cornerstone
Total top 5
Total all credit unions in Sask.
St. Catharines
Ottawa
London
Hamilton
Toronto
Assets
($Mils)
Atlantic Provinces
East Coast
St. John's
Darmouth
Halifax
Bayview
St. John
Bergengren
Antigonish
Total top 5
Total all credit unions in Atlantic
$465
$344
$316
$301
$202
$1,629
$6,982
23.3%
Page 58
Assets under Management
Based on a sample of 48 credit unions, the largest Canadian credit unions have increased their
assets under management (AUM) or off-balance sheet assets by 9.5% in 2012. The assets
under management are generally mutual funds and/or securitized loans. Credit unions are not
required to disclose the assets under management in their audited statements and many do
not disclose these assets in their annual reports.
Assets under Management #
(AUM)
Ontario
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
First Ontario
Lambton Financial*
Ukrainian
Meridian
Copperfin
Alterna Savings
Kawartha
Sudbury
Community First (formerly ASCU)
Hamilton Teachers
Northern
Estonian
Windsor Family
Hald-Nor Community
The Police*
Your
PenFinancial
Education*
Libro
Mennonite Savings
Parama Lithuanian*
United Communities
Prosperity One*
Sydenham Community
Buduchnist
LARGEST CREDIT UNIONS IN CANADA
as at December 31, 2012
Location
Hamilton
Sarnia
Toronto
St. Catharines
Toronto
Kenora
Ottawa
Peterborough
Toronto
Sudbury
Sault Ste. Marie
Toronto
Hamilton
Sault Ste. Marie
Toronto
Windsor
Caledonia
Toronto
Ottawa
Welland
Kitchener
London
Kitchener
Toronto
Essex
Windsor
Milton
Strathroy
Toronto
Barrie
2012
2011
Yr/Yr
AUM
AUM
Growth
($000's)
453,424
45,042
40,223
977,702
37,021
33,373
576,861
70,049
85,941
23,260
114,987
86,093
144,051
143,269
2,937
277,906
2,403
11,001
24,581
42,870
62,206
361,507
91,739
3,331
61,715
31,887
22,356
22,184
82,478
10,096
3,489,069
($000's)
295,789
30,822
28,538
818,830
32,013
29,358
511,330
62,717
78,194
21,218
106,812
80,604
134,916
134,389
2,770
263,868
2,291
10,504
23,472
41,183
59,800
347,670
91,368
3,523
66,094
35,518
25,832
25,669
98,705
16,227
3,184,236
%
53.3%
46.1%
40.9%
19.4%
15.6%
13.7%
12.8%
11.7%
9.9%
9.6%
7.7%
6.8%
6.8%
6.6%
6.0%
5.3%
4.9%
4.7%
4.7%
4.1%
4.0%
4.0%
0.4%
-5.5%
-6.6%
-10.2%
-13.5%
-13.6%
-16.4%
-37.8%
9.6%
# assets under m anagem ent - off balance sheet - m utual fund and securitized assets
Page 59
(AUM)
Other Provinces
2012
2011
Yr/Yr
AUM
AUM
Growth
($000's)
($000's)
Location
1
Surrey
2,028,043
1,762,378
%
2
Langley
1,058,918
969,900
9.2%
3
Vancouver
1,015,686
895,900
13.4%
4
Conexus
Regina
1,002,567
878,345
14.1%
5
North Shore
North Vancouver
571,499
500,789
14.1%
6
Affinity
Saskatoon
426,078
466,027
-8.6%
7
Innovation
North Battleford
400,460
432,000
-7.3%
8
Island Savings
Duncan
288,577
171,000
68.8%
9
Weyburn
15.1%
Weyburn
145,000
109,000
33.0%
10 TCU Financial Group
Saskatoon
121,522
117,593
3.3%
11 Gulf & Fraser Fishermen's
Vancouver
97,171
93,964
3.4%
12 Prairie Centre
Rosetown
93,146
93,146
13 Kootenay Savings
Trail
86,023
112,717
14 Credit Union Atlantic
Halifax
11,041
106,400
-89.6%
15 Northern Savings
Prince Rupert
5,657
2,683
110.9%
16 Advantage
Melfort
5,375
7,629
-29.5%
17 VantageOne
Vernon
4,475
9,222
-51.5%
18 Grand Forks District Savings
Grand Forks
458
477
-4.0%
7,361,695
6,729,170
9.4%
10,850,764
9,913,406
9.5%
48 Total all CUs
0.0%
-23.7%
Page 60
Assets
Ontario
Total
under
AUM
as % of
Assets
Management
Location
($mils)
($000's)
Assets
Total
1
Meridian
St. Catharines
8,745.4
977,702
11.2%
2
Alterna Savings
Ottawa
2,386.2
576,861
24.2%
3
First Ontario
Hamilton
1,805.6
453,424
25.1%
4
Libro
London
1,736.2
361,507
20.8%
5
Windsor Family
Windsor
908.0
277,906
30.6%
6
Hamilton Teachers
Hamilton
438.5
144,051
32.9%
7
Northern
Sault Ste. Marie
712.7
143,269
20.1%
8
Sault Ste. Marie
339.1
114,987
33.9%
9
Mennonite Savings
Kitchener
826.7
91,739
11.1%
10 Ontario Civil Service*
Toronto
144.0
86,093
59.8%
11 Duca Financial Services
Toronto
1,277.2
85,941
6.7%
12 Buduchnist
Toronto
622.0
82,478
13.3%
13 Kawartha
Peterborough
965.9
70,049
7.3%
14 Education*
Kitchener
159.0
62,206
39.1%
15 United Communities
Essex
703.1
61,715
8.8%
16 Lambton Financial*
Sarnia
200.1
45,042
22.5%
17 PenFinancial
Welland
330.0
42,870
13.0%
18 Ukrainian
Toronto
583.8
40,223
6.9%
19 Communication Technologies*
Toronto
181.2
37,021
20.4%
20 Copperfin
Kenora
190.3
33,373
17.5%
21 Motor City Community*
Windsor
203.8
31,887
15.6%
22 Your
Ottawa
204.1
24,581
12.0%
23 Sudbury
Sudbury
326.7
23,260
7.1%
24 Prosperity One*
Milton
204.7
22,356
10.9%
25 Sydenham Community
Strathroy
178.3
22,184
12.4%
26 The Police*
Toronto
229.1
11,001
4.8%
27 Ontario Provincial Police*
Barrie
148.9
10,096
6.8%
28 Parama Lithuanian*
Toronto
215.3
3,331
1.5%
29 Estonian
Toronto
108.8
2,937
2.7%
30 Hald-Nor Community
Caledonia
125.2
16,454
2,403
2,964,790
1.9%
18.0%
Fifty-fve (55) credit unions disclosed their assets under management in 2012, 30 of which were
in Ontario compared to fifty seven (57) in the previous year. The AUM for the Ontario credit
unions were taken from the Deposit Insurance of Ontario’s Annual Financial Statistics report
issued in February 2013.
The total AUM increased to 14.8% of total assets in 2012 compared to 13.3% in the previous
year. There has been a concerted effort by many credit unions to provide wealth management
services to their members over the last few years. The difficult capital markets in 2012 have
negatively affected the growth in AUM for many credit unions.
Page 61
Assets
Other Provinces
Location
1
Surrey
2
Langley
3
Vancouver
4
Conexus
5
6
Total
under
Assets
Management
($mils)
($000's)
AUM
as % of
Total
Assets
12,599.5
2,028,043
16.1%
5,886.7
1,058,918
18.0%
17,055.8
1,015,686
6.0%
Regina
4,202.0
1,002,567
23.9%
North Shore
North Vancouver
2,199.4
571,499
26.0%
Affinity
Saskatoon
2,473.9
426,078
17.2%
7
Innovation
North Battleford
1,656.9
400,460
24.2%
8
Coastal Community
Nanaimo
1,699.8
400,000
23.5%
9
Island Savings
Duncan
1,411.4
288,577
20.4%
10 Interior Savings
Kelona
2,077.2
283,000
13.6%
11 Synergy
Lloydminster
1,128.5
147,261
13.0%
12 Weyburn
Weyburn
419.2
145,000
34.6%
Saskatoon
552.5
121,522
22.0%
Vancouver
1,088.0
97,171
8.9%
15 Prairie Centre
Rosetown
477.1
93,146
19.5%
16 Kootenay Savings
Trail
958.1
86,023
9.0%
Halifax
328.5
11,041
3.4%
18 Community Savings
Surrey
429.6
9,587
2.2%
19 Northern Savings
Prince Rupert
821.5
5,657
0.7%
20 Advantage
Melfort
445.8
5,375
1.2%
21 VantageOne
Vernon
264.6
4,475
1.7%
22 Eagle River
L'Anse au Loop
100.8
3,607
3.6%
23 Summerland & District
Summerland
183.3
3,273
1.8%
24 Sunshine Coast
Gibsons
369.7
1,804
0.5%
Grand Forks
217.5
458
59,047
8,210,228
13.9%
75,502
11,175,019
14.8%
55 Total all CUs
0.2%
Page 62
Assets under Management – Mutual Funds
Mutual Funds
Ontario
2012
2011
Mutual
Mutual
Yr/Yr
Funds
Funds
Growth
Location
($000s)
($000s)
%
1
Meridian
St. Catharines
786,600
663,800
18.5%
2
Alterna Savings
Ottawa
576,861
511,330
12.8%
3
Libro
London
336,313
316,129
6.4%
4
Hamilton Teachers
Hamilton
138,305
102,398
35.1%
5
Northern
Sault Ste. Marie
136,973
123,863
10.6%
6
First Ontario
Hamilton
133,600
108,800
22.8%
7
Sault Ste. Marie
109,795
99,736
10.1%
8
Mennonite Savings
Kitchener
89,145
88,062
1.2%
9
Toronto
86,093
80,604
6.8%
Toronto
85,941
78,194
9.9%
11 Buduchnist
Toronto
80,408
91,059
-11.7%
12 Windsor Family
Windsor
72,806
218,068
-66.6%
13 Kawartha
Peterborough
70,049
62,717
11.7%
14 Education*
Kitchener
62,206
42,900
45.0%
Essex
56,368
66,094
-14.7%
Sarnia
45,042
30,822
46.1%
17 PenFinancial
Welland
40,839
41,183
-0.8%
Toronto
37,021
32,013
15.6%
19 Copperfin
Kenora
33,373
29,358
13.7%
Windsor
31,887
35,518
-10.2%
21 Ukrainian
Toronto
29,862
28,538
4.6%
22 Your
Ottawa
24,581
23,472
4.7%
23 Sudbury
Sudbury
23,260
21,218
9.6%
24 Prosperity One*
Milton
22,356
25,832
-13.5%
Strathroy
17,063
20,282
-15.9%
26 The Police*
Toronto
11,001
10,504
4.7%
Barrie
10,096
16,227
-37.8%
28 Parama Lithuanian*
Toronto
3,331
3,523
-5.5%
29 Estonian
Toronto
2,937
2,770
6.0%
Caledonia
2,403
2,291
4.9%
3,156,515
2,977,306
6.0%
Total - Ontario
Page 63
Mutual Funds
Other Provinces
2012
2011
Mutual
Mutual
Yr/Yr
Funds
Funds
Growth
Location
($000s)
($000s)
1
Surrey
1,978,066
1,762,378
2
Langley
1,058,918
969,900
3
Vancouver
771,400
713,900
8.1%
4
North Shore
North Vancouver
562,158
497,563
13.0%
5
Conexus
Regina
550,770
550,770
0.0%
6
Innovation
North Battleford
376,030
388,052
-3.1%
7
Affinity
Saskatoon
290,458
301,951
-3.8%
8
Island Savings
Duncan
288,577
171,000
68.8%
9
Weyburn
Weyburn
145,000
109,000
33.0%
Saskatoon
110,895
101,004
9.8%
Vancouver
96,092
92,061
4.4%
12 Prairie Centre
Rosetown
93,146
93,146
0.0%
6,321,510
5,750,725
9.9%
9,478,025
8,728,031
8.6%
Total - Other Provinces
42 Total - Canada
%
12.2%
9.2%
Page 64
Breakdown of credit unions by Auditors
Only nine (9) credit unions are being audited by auditors that have a single large credit union
client. The remaining credit unions are being audited by 14 different audit firms. KPMG LLP has
15 audit clients representing 34.9% of the assets of the largest credit unions in Canada, while
MNP LLP has the largest number of audit clients at 28 representing 8.8% of the total assets of
the largest credit unions in Canada.
1
2
3
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
1
2
3
4
Table 1
Auditors used by CUs
Name of auditor/
Location
Adam Wooley
East Kootenay Community
Cranbrook
Revelstoke*
Revelstoke
Columbia Valley
Golden
Total
As a % total assets or total net income
BDO Canada LLP
Interior Savings
Kelona
Coastal Community
Nanaimo
Access
Winnipeg
Toronto
Kawartha
Peterborough
United Communities
Essex
Salmon Arm Savings
Salmon Arm
Carpathia
Winnipeg
Vanguard*
Rossburn
Casera
Winnipeg
Niverville
Niverville
Rosenort
Rosenort
Copperfin
Kenora
Summerland & District
Summerland
Sydenham Community
Strathroy
Osoyoos
Osoyoos
Total
Collins Barrow LLP
Waterloo
Bow Valley
Cochrane
Windsor
Lambton Financial*
Sarnia
Total
Assets
Net
Income
British Columbia
British Columbia
British Columbia
243
163
143
549
0.4%
620
539
424
1,582
0.2%
0.27%
0.33%
0.29%
0.29%
British Columbia
British Columbia
Manitoba
Ontario
Ontario
Ontario
British Columbia
Manitoba
Manitoba
Manitoba
Manitoba
Manitoba
Ontario
British Columbia
Ontario
British Columbia
2,077
1,700
1,507
1,277
966
703
519
358
357
314
250
248
190
183
178
122
10,950
7.9%
9,761
8,212
9,183
12,322
9,007
1,554
3,745
2,357
2,392
1,489
778
1,134
1,347
791
921
457
65,450
9.3%
0.47%
0.49%
0.63%
1.00%
1.06%
0.23%
0.76%
0.70%
0.70%
0.50%
0.32%
0.50%
0.73%
0.43%
0.52%
0.38%
0.62%
726
275
204
200
1,404
1.0%
2,664
731
597
664
4,656
0.7%
0.40%
0.27%
0.30%
0.33%
0.35%
Ontario
Alberta
Ontario
Ontario
ROA
Page 65
1
2
3
4
5
6
7
8
9
10
11
12
1
2
1
2
3
4
5
6
7
8
9
Table 2
Name of auditor/
Location
Deloitte & Touche LLP
Servus
Edmonton
Conexus
Regina
Affinity
Saskatoon
Innovation
North Battleford
Chinook
Brooks
Integris
Prince George
St. John's
PenFinancial
Welland
Lake View
Dawson Creek
Your
Ottawa
Toronto
Toronto
Total
Ernst & Young LLP
Alterna Savings
Ottawa
Libro
London
Total
Grant Thornton LLP
Northern Savings
Prince Rupert
Ukrainian
Toronto
Hamilton Teachers
Hamilton
Sunshine Coast
Gibsons
Sault Ste. Marie
Bayview
St. John
Halifax
VantageOne
Vernon
Grand Forks District Savings
Grand Forks
Total
Assets
Net
Income
12,185
4,202
2,474
1,657
807
523
489
330
288
204
181
144
23,484
17.0%
89,241
38,496
22,751
13,626
2,739
1,389
1,429
1,569
486
481
(137)
287
172,355
24.6%
12.17%
1.72%
1.60%
6.71%
1.64%
1.01%
0.55%
0.01%
0.01%
0.11%
-0.10%
0.06%
0.82%
Ontario
Ontario
2,386
1,736
4,122
3.0%
5,563
10,685
16,248
2.3%
0.24%
0.64%
0.41%
British Columbia
Ontario
Ontario
British Columbia
Ontario
New Brunswick
Nova Scotia
British Columbia
British Columbia
822
584
438
370
339
337
329
265
218
3,700
2.7%
2,053
1,983
1,137
2,173
768
1,734
1,160
451
1,101
12,560
1.8%
0.24%
0.36%
0.28%
0.59%
0.23%
0.54%
0.36%
0.17%
0.51%
0.35%
Alberta
Saskatchewan
Saskatchewan
Saskatchewan
Alberta
British Columbia
Newfoundland
Ontario
British Columbia
Ontario
Ontario
Ontario
ROA
Page 66
1
2
3
4
5
1
2
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Table 3
Name of auditor/
Location
Hawkings Epp Dumont LLP
Lakeland
Bonnyville
Rocky
Rocky Mountain House
Shell Employees'
Calgary
Beaumont
Beaumont
Christian
Edmonton
Total
Jones & O'Connell LLP
The Police*
Toronto
Barrie
Total
KPMG LLP
Vancouver
Surrey
Langley
Calgary
Westminster Savings
New Westminster
First Ontario
Hamilton
Island Savings
Duncan
Gulf & Fraser Fishermen's
Vancouver
Windsor Family
Windsor
Northern
Sault Ste. Marie
Aldergrove
Aldergrove
Community Savings
Surrey
1st Choice Savings
Leithbridge
Sudbury
Sudbury
Ladysmith & District
Ladysmith
Total
Assets
Net
Income
Alberta
Alberta
Alberta
Alberta
Alberta
534
308
264
218
218
1,543
1.1%
7,455
1,826
803
701
1,033
11,818
1.7%
1.44%
0.62%
0.31%
0.32%
0.53%
0.80%
Ontario
Ontario
229
149
378
0.3%
244
647
891
0.1%
0.11%
0.46%
0.24%
17,056
12,600
5,887
2,663
2,291
1,806
1,411
1,088
908
713
533
430
418
327
135
48,264
34.9%
56,568
71,620
16,502
8,718
11,193
14,187
6,001
5,364
4,250
1,726
2,334
-194
1,421
2,627
99
202,416
28.9%
0.34%
0.59%
0.29%
0.34%
0.51%
0.85%
0.43%
0.50%
0.51%
0.25%
0.44%
-0.04%
0.35%
0.92%
0.08%
0.43%
British Columbia
British Columbia
British Columbia
Alberta
British Columbia
Ontario
British Columbia
British Columbia
Ontario
Ontario
British Columbia
British Columbia
Alberta
Ontario
British Columbia
ROA
Page 67
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
1
2
3
Table 4
Name of auditor/
Location
MNP LLP
Crosstown Civic
Winnipeg
Westoba
Brandon
Kootenay Savings
Trail
Cornerstone
Yorkton
Sunrise
Treherne
Spectra
Estevan
Buduchnist
Toronto
Mountain View
Olds
Entegra
Winnipeg
Noventis
Gimli
Prairie Centre
Rosetown
Diamond North
Nipawin
Fort St. John
Portage
Portage La Prairie
Swan Valley*
Swan River
Dauphin Plains
Dauphin
Crossroads*
Canora
Parama Lithuanian*
Toronto
Greater Vancouver Community
Burnaby
Williams Lake
Oakbank*
Oak Bank
Unity
Unity
Horizon
Melville
Starbuck
Winnipeg
Education*
Kitchener
Winnipeg Police
Winnipeg
Shaunavon
Shaunavon
Estonian
Toronto
Total
Millard Rouse & Rosebrugh
Momentum*
Hamilton
Healthcare & Municipal Employees'* Hamilton
Hald-Nor Community
Caledonia
Total
Manitoba
Manitoba
British Columbia
Saskatchewan
Manitoba
Saskatchewan
Ontario
Alberta
Manitoba
Manitoba
Saskatchewan
Saskatchewan
British Columbia
Manitoba
Manitoba
Manitoba
Saskatchewan
Ontario
British Columbia
British Columbia
Manitoba
Saskatchewan
Saskatchewan
Manitoba
Ontario
Manitoba
Saskatchewan
Ontario
Ontario
Ontario
Ontario
1
2
Mowbrey Gil LLP
Battle River
Camrose
Wainwright
Wainwright
Total
Alberta
Alberta
Assets
Net
Income
1,699
1,165
958
807
749
720
622
564
502
486
477
360
317
243
233
217
216
215
205
195
190
178
176
173
159
158
128
109
12,219
8.8%
12,937
5,481
5,216
5,085
3,362
2,539
4,045
2,570
2,248
2,465
3,355
1,952
887
1,674
1,160
1,549
1,333
870
764
134
462
1,096
995
667
279
605
712
512
64,954
9.3%
0.82%
0.50%
0.54%
0.65%
0.47%
0.36%
0.68%
0.46%
0.49%
0.52%
0.73%
0.56%
0.30%
0.72%
0.51%
0.75%
0.63%
0.41%
0.37%
0.07%
0.26%
0.65%
0.58%
0.41%
0.18%
0.39%
0.58%
0.49%
0.55%
160
159
125
444
189
226
431
846
0.12%
0.14%
0.35%
0.19%
0.3%
0.1%
579
378
957
0.7%
10,172
2,198
12,370
1.8%
ROA
1.83%
0.59%
1.33%
Page 68
1
2
3
4
5
6
7
8
9
10
Table 5
Name of auditor/
Location
Price Waterhouse Coopers LLP
Meridian
St. Catharines
Steinbach
Steinbach
Assiniboine
Winnipeg
Cambrian
Winnipeg
Prospera
Abbotsford
North Shore
North Vancouver
Synergy
Lloydminster
Sunova
Selkirk
Mennonite Savings
Kitchener
East Coast
Darmouth
Total
Ontario
Manitoba
Manitoba
Manitoba
British Columbia
British Columbia
Saskatchewan
Manitoba
Ontario
Nova Scotia
Assets
Net
Income
8,745
3,963
3,431
2,764
2,316
2,199
1,128
907
827
361
26,642
19.3%
24,966
25,156
14,363
22,353
5,502
7,580
10,374
3,486
-273
1,105
114,612
16.4%
0.30%
0.67%
0.44%
0.87%
0.25%
0.36%
0.96%
0.41%
-0.03%
0.31%
0.45%
ROA
1
2
3
4
5
Virtus Group LLP
TCU Financial Group
Advantage
Weyburn
Plainsview*
Biggar & District*
Saskatoon
Melfort
Weyburn
Kipling
Biggar
Saskatchewan
Saskatchewan
Saskatchewan
Saskatchewan
Saskatchewan
552
446
419
204
146
1,768
1.3%
3,802
879
3,236
1,106
1,458
10,481
1.5%
0.71%
0.20%
0.80%
0.56%
1.08%
0.61%
1
2
3
4
5
6
7
8
9
Others
Bulkley Valley
Sharons*
First
Bergengren
Prosperity One*
Nelson & District
Northern Lights
Creston & District
Eagle River
Smithers
Vancouver
Powell River
Antigonish
Milton
Nelson
Thunder Bay
Creston
L'Anse au Loop
British Columbia
British Columbia
British Columbia
Nova Scotia
Ontario
British Columbia
Ontario
British Columbia
Newfoundland
278
241
237
208
205
175
162
118
101
1,725
1.2%
1,800
1,420
1,693
1,381
0
291
920
1,153
578
9,236
1.3%
0.65%
0.60%
0.79%
0.67%
0.00%
0.17%
0.57%
1.00%
0.59%
0.55%
Page 69
2013 Credit Union Winners - Canada’s Top 100 Employers
The following outlines were prepared by editors Mediacorp Canada Inc. Canada’s Top 100
Employers are published each October in the Globe and Mail.
The following eight credit unions/caisses populaires were winners:
1.
2.
3.
4.
5.
6.
7.
8.
Vancouver City Savings Credit Union
Prospera Credit Union
First Calgary Financial Credit Union Ltd.
Desjardins Group / Mouvement des caisses Desjardins
First Ontario Credit Union
Caisses populaires acadiennes
Newfoundland and Labrador Credit Union Ltd.
Vancouver City Savings Credit Union
Chosen as one of Canada's Top 100 Employers, Canada's Top Family-Friendly Employers and
British Columbia's Top Employers for 2013:
By Richard Yerema and Kristina Leung, Mediacorp Canada Inc. staff editors (Oct 9, 2012)
Some of the reasons why Vancity was selected as one of Canada's Top 100 Employers for 2013:

offers fertility drug treatments through its health benefits plan and provides generous
maternity and parental leave top-up payments for new mothers (to 85% of salary for 50
weeks)

also supports employees who are new fathers and adoptive parents with parental leave
top-up payments (to 85% of salary for 35 weeks)

is the largest employer in Canada to become a "Living Wage Employer", which is more
than a simple minimum wage but a program that recognizes the social and economic
benefits of paying a real living wage for all its employees and service providers

encourages ongoing employee development with generous tuition subsidies (to $2,400
each year) as well as a variety of in-house and on-line training programs helps
employees save for retirement with contributions to a defined benefit pension plan as
well as a matching RSP contribution plan -- and
Page 70

helps employees keep more of their money along the way through a number of great
financial benefits, including low-interest home loans as well as no fee bank accounts and
credit cards

employees have easy access to a unique head office that literally straddles the city's
expanded LRT system, and

features solar hot water panels on the roof to pre-warm all of the hot water used in the
buildings kitchens, bathrooms and showers
Employer Background - Vancouver City Savings Credit Union (Vancity) is a member-owned cooperative credit union, providing a range of financial products and services to members across
the province. As Canada's largest community-based credit union, Vancity offers a variety of
financial products and services including loans, mortgages, credit cards, deposits, investments,
and insurance. Along with the familiar Vancity branch locations, the credit union also serves its
membership through four primary subsidiaries, including: the Citizens Bank of Canada; Vancity
Life Insurance Services Ltd.; Vancity Investment Management; and the Vancity Community
Foundation (which distributes grants to community organizations across the province).
Established in 1946, the credit union today serves over 479,000 members through 59 branches
and continues to be defined by not only its focus on financial success but also to environmental
and social sustainability of the communities where it operates
Industry: Credit Unions. Major Canadian hiring locations: Vancouver BC, Victoria BC, Squamish
BC. Revenues: $411 million. Established: 1946. Full-time employees in Canada: 1,836. New jobs
created in Canada last year: 58. Part-time employees in Canada: 409. Workforce engaged on a
contract basis: 5%. Average age of all employees: 40.1. Longest serving employee: 40.8 years.
Rating: B Physical Workplace
Vancity's physical workplace is rated as above-average. The credit union's head office is within
minutes of downtown Vancouver, situated at the tip of False Creek Seawall. The Seawall
extends to Stanley Park and Kitsilano, and enables employees to bike, jog, or rollerblade during
breaks. Built prior to LEED guidelines, the office has won Building Owners and Managers
Association (BOMA) awards for environmentally friendly operation. Low E glass was used in the
construction of the building's exterior, minimizing seasonal heat loss and gain. In addition,
Vancity installed solar panels onto the roof of the building, allowing them to heat 100% of the
hot water used in kitchens, bathrooms and showers with solar energy. Inside, the head office
features an transit subsidies; free parking; secure bicycle parking; nap room; employee lounge;
onsite fitness facility; walking access to the SkyTrain. The office is also close to Creekside
Community Recreation Centre, Chinatown, and Science World.
Page 71
Rating: B Work Atmosphere & Communications
Vancity's work atmosphere is rated as average. Vancity employees enjoy casual dress Fridays;
concierge services available. The credit union hosts the unique "V After Dark" social at a
downtown hotel for employees and their spouses. Over 2,000 employees gathered for the
event that featured a silent auction supporting emerging artists, a slam poet, youth hip hop
dancers, dance students, an alt-celtic punk group and a local cover band. Vancity also organizes
a variety of additional social events during the year, including and employee Recognition Night,
family discounts to the Pacific National Exhibition and a day at the Vancouver Art Gallery. The
credit union keeps employees up-to-date through a corporate intranet site.
Rating: AFinancial Benefits & Compensation
Vancity's financial benefits are rated as above-average. To keep salaries competitive the
company participates in outside salary surveys every 6 months. Individual salaries are reviewed
every 12 months. In addition to salary surveys, Vancity provides profit-sharing plan for all
employees; signing bonuses for some employees; defined benefit pension with employer
contributions (up to 15.5% of salary); new employee referral bonuses (to $800 for some
positions); low-interest home loans; and discounted company products including no fee bank
accounts, no credit card fees, discounted consumer loans, and discounted foreign exchange
rates.
Rating: AHealth & Family-Friendly Benefits
Vancity's health and family benefits are rated as above-average. Vancity's flexible health
benefis plan offer three levels of coverage and is managed by Pacific Blue Cross. As part of the
health plan, the employer pays 70% of the premiums. The health plan is a flexible plan with
adjustable premiums and coverage levels. Employees who work 18 hours per week receive
coverage. The maximum waiting period for new employees is 90 days. The basic plan includes
routine dental; restorative dental; orthodontics; eyecare ($270 every 2 years); traditional
medicine coverage; alternative medicine coverage; fertility treatment medications; employee
assistance (EAP) plan; medical equipment and supplies; massage therapy; homecare; travel
insurance. As part of the flexible plan, retired employees can also take advantage of continuing
enrollment in the health benefits plan. Vancity's family-friendly benefits include; maternity topup payments (to 85% of salary for 52 weeks); parental leave top-up for new fathers (to 85% of
salary for 35 weeks); parental leave top-up for adoptive parents (to 85% of salary for 35 weeks);
health benefits during maternity and parental leave. Additional family-friendly benefits include;
flexible working hours; 35-hour work week (with full pay); shortened work week (fewer hours
with less pay); compressed work week; telecommuting; and job sharing.
Rating: AVacation & Personal Time-Off
Page 72
Vancity's vacation and personal time-off are rated as above-average. New employees receive 3
weeks of vacation allowance after their first year. Vacation increases after 4 years on the job.
Long-serving employees receive a maximum of 6 weeks of vacation each year. Employees
receive 12 paid sick days every year. (Note: some employees receive 4 weeks paid vacation to
start, moving to a maximum of 7 weeks for longer serving employees).
Rating: B+Employee Engagement
Vancity's employee engagement program is rated as very good. Employees receive individual
performance reviews every 6 months. Managers receive training in how to conduct effective
performance reviews. Performance feedback is also solicited from co-workers and other
managers familiar with each employee's work. As part of the review process employees can
provide confidential feedback on their manager's performance. Exit interviews are provided for
departing employees. The company's performance plan is design to draw-out employee goals
within their current role as well as longer term career aspirations. Employees and managers
meet annually to set goals and follow-up during the year with less formal quarterly and midyear reviews. The entire initiative is designed to encourage open communication between
managers and employees. Vancity hires an outside consultant to conduct confidential
employee satisfaction and engagement surveys. (These surveys are held every 12 months).
Rating: ATraining & Skills Development
Vancity's training and skills development program is rated as above-average. Employees receive
tuition subsidies for courses related to their position. (Employer pays up to $2,400 in subsidies).
Employees may also receive tuition subsidies for courses unrelated to their current position.
(Employer pays up to $2,400 in tuition subsidies). Vancity also provides subsidies for
professional accreditations; career planning services; in-house training programs; online
training programs; online employee skills inventory. Vancity's in-house training programs cover
a range of subjects, including leadership training, financial services, and management training.
Vancity also offers employees an opportunity to participate in their co-operative studies
program in Bologna, Italy. Through this program, employees learn within a classroom
environment as well as gain practical experience working with other co-operatives.
Rating: A+Community Involvement
Vancity's community involvement program is rated as exceptional. Vancity and its employees
actively support a variety of local and international charitable initiatives. Employees take part in
the selection of charitable groups assisted each year. Approximately 161 charitable and
community organizations were supported last year. Vancity also matches employee charitable
donations and donates money to charities where employees volunteer. Employees are also
encouraged to volunteer at Vancity-sponsored events throughout the year. One of Vancity's
most impressive initiatives is the Vancity Community Foundation, which distributes grants to
community organizations. The incredibly far-sighted initiative offers generous financial to local
Page 73
non-profit organizations and community projects across the province -- helping to build-up the
province's foundations one project at a time. Employees also participate in "Each One Teach
One", a program that trains frontline Vancity staff with cultural and language competencies (in
addition to English), to deliver basic financial literacy training sessions to under served
members of the community. The sessions help new Canadian learn the basics of the Canadian
financial system.
Vancity is the largest employer in Canada to become "Living Wage Employer" under Metro
Vancover's Living Wage Employers Program. The program highlights the fact that many working
families may still find themselves living below the poverty line -- and the program's goal is to
ensure that the living wage becomes to the base standard rate of pay, helping to lift working
families out of poverty. The program, and Vancity's involvement, is an enlightened approach to
reducing poverty in the Canada's third largest city, "Paying a living wage to our employees and
service providers will help make families stronger and communities healthier. British Columbia
has the highest cost of living yet the lowest minimum wage in Canada." Tamara Vrooman,
President and CEO of Vancity. With British Columbia's minimum wage set at $8.75 per hour and
the living wage set at $18.81 per hour, this most recent and impressive initiative falls within
Vancity's long history of understanding, drawing attention to and responding to the immediate
needs of its community.
Vancity also has a long-standing commitment to environmental stewardship, being one of the
first financial institutions to offer several financial products to helps customers 'go green',
including reduced loan rates for hybrid vehicles and energy efficient home renovations. The
company also operates a unique green building grant program (funded by profits from its credit
card operations) and continues to reduce it carbon footprint through the province-wide "Cut
the Carbon" campaign -- impressively, Vancity achieved carbon neutrality back in 2008.
Prospera Credit Union
Chosen as one of British Columbia's Top Employers for 2013:
By Richard Yerema and Kristina Leung, Mediacorp Canada Inc. staff editors
Highlights. Mediacorp editors have confirmed that this employer:

helps older employees prepare for life after work with retirement planning assistance,
phased-in work options and generous contributions to a defined benefit pension plan

encourages ongoing employee development with a range of in-house and online
training programs, subsidies for job-related courses and professional accreditation and
an online employee skills inventory
Page 74

manages a flexible health benefits plan that allows employees to customize levels of
coverage to suit their personal needs -- unused credits may be transferred to salary or
savings plan or used to purchase additional time off

offers referral bonuses for employees who refer a candidate that is successfully hired by
the company (to $1,500) and lets everyone share in the company's success with profitsharing available to all employees

considers previous work experience when setting individual vacation entitlements for
experienced candidates
Background Information
Industry: Credit Unions. Major Canadian hiring locations: Abbotsford BC, Surrey BC, Chilliwack
BC, Kelowna BC, Mission BC, Agassiz BC, Langley BC, Vancouver BC, Penticton BC, Vernon BC.
Established: 2002. Full-time employees in Canada: 365. Part-time employees in Canada: 73.
Longest serving employee: 40 years. Number of applications received at this location last year:
2,948. Average age of all employees: 41.2.
First Calgary Financial Credit Union Ltd.
Chosen as one of Alberta's Top Employers for 2013:

offers maternity leave top-up payments to employees who are new mothers (to 90% of
salary for 6 weeks)

supports the ongoing development of children of employees through an academic
scholarship program for those who attend post-secondary education (to $1,000)

offers great financial benefits including referral bonuses, profit-sharing plan available to
all employees and encourages them to save for the future with contributions to a
matching RSP plan

helps employees balance work and their personal life with flexible work hours,
telecommuting, compressed work week option and personal paid days-off which can be
scheduled throughout the year

in addition to establishing a formal green strategy to reduce greenhouse gas emissions,
the credit union established an employee-led environmental advocacy team to assist in
Page 75
all environmental projects, which includes a successful waste reduction initiative
recently conducted at all its branch locations
Industry: Credit Unions. Major Canadian hiring locations: Calgary AB. Established: 1938. Fulltime employees in Canada: 445. Part-time employees in Canada: 76. Longest serving
employee: 32 years. Number of applications received at this location last year: 4,836. Average
age of all employees: 38.
Desjardins Group / Mouvement des caisses Desjardins
Chosen as one of Canada's Top 100 Employers and Canada's Top Family-Friendly Employers
for 2013:
By Richard Yerema and Kristina Leung, Mediacorp Canada Inc. staff editors (Oct 9, 2012)
Some of the reasons why Desjardins Group was selected as one of Canada's Top 100 Employers
for 2013:

supports ongoing training and development throughout an employee's career with
tuition subsidies for courses at outside institutions, online and in-house training
initiatives, and even financial bonuses (to $1,000) for the completion of certain
professional accreditation

supports new parents with maternity (to 95% of salary for 18 weeks) for new mothers
and parental leave top-up payments (to 95% for 12 weeks) for new fathers and adoptive
parents -- and offers an onsite daycare centre for head office employees returning to
work

supports alternative transportation through a car-pool sign-up system, provides
showers and change rooms for its bicycle commuters, and offers its employees
generous discounts on self-serve bike transit programs in Montréal and Toronto

continues to expand across Canada and create employment opportunities with the
acquisition of Calgary-based Western Financial Group and the expansion of the Nunavik
Financial Services Cooperative across northern Québec
Employer Background
Desjardins Group / Mouvement des caisses Desjardins is the largest cooperative financial group
in Canada, serving over 5.8 million members and clients, including over 400,000 businesses
across Canada. Desjardins offers a complete range of financial products and services for its
members and specializes in wealth management, life and health insurance, property and
casualty insurance, personal, business and institutional services. Established in 1900, Desjardins
Page 76
Group has grown to become of this country's largest employers as well as the sixth largest
financial cooperative in the world. Today, the cooperative is recognized as one of the world's
most stable financial institutions and recently acquired Alberta-based Western Financial Group,
highlighting the Group's continuing expansion outside of Québec and across Canada.
Industry: Credit Unions. Major Canadian hiring locations: Québec QC, Montréal QC, Toronto
ON, Mississauga ON, Ottawa ON, Calgary AB, High River AB. Revenues: $13,206 million.
Established: 1900. Full-time at this location: 6,019. Full-time employees in Canada: 37,790. Fulltime worldwide: 37,863. New jobs created in Canada last year: 3,077. Part-time employees in
Canada: 6,774. Workforce engaged on a contract basis: 10.8%. Number of applications received
at this location last year: 267,308. Average age of all employees: 42.28. Longest serving
employee: 50.07 years.
Rating: B+ Physical Workplace
Desjardins Group's physical workplace is rated as very good. Desjardins head office is located in
beautiful Lévis, which is located just across the river from historic Québec. The head office is
located on the highest point in the city surrounded by landscaped lawns, mature trees and
offering great views of the surrounding cities and the St. Lawrence River. The head office also
features reserved parking for carpooling employees, shower and changing facilities for those
who bike to work, and even a daily shuttle service that runs between the head office and the
Group's offices in Montréal. (The company is also in the midst of constructing a new LEED
certified building in Lévis.) Inside, the head office features an free parking; secure bicycle
parking; onsite cafeteria; employee lounge; reserved parking for car-pooling employees (with a
guaranteed ride home policy), and Montréal and Toronto employees receive a 50% subsidy
when using the BIXI public bike systems (Desjardins is also major supporter of this initiative
sponsoring numerous stations in both cities).
Rating: B+ Work Atmosphere & Communications
Desjardins Group's work atmosphere is rated as very good. On the job, employees enjoy
business casual dress; casual dress daily; casual dress Fridays; can listen to music while working;
organized social events. The cooperative has over 30 active social committees across the firm,
with the oldest established in 1965. Every year at offices across the country, the various
committees organize a variety of fun events for employees, including golf tournaments, winter
and summer excursions, wine and cheese parties as well as regional employee Christmas
parties. Company newsletter; corporate intranet site; email suggestion box.
Rating: A Financial Benefits & Compensation
Desjardins Group's financial benefits are rated as above-average. To keep salaries competitive
the company participates in outside salary surveys every 12 months. Individual salaries are
reviewed every 12 months. In addition to ensuring competitive compensation rates, the
Page 77
cooperative offers signing bonuses for some employees; year-end bonuses for all employees;
defined benefit pension with employer contributions (up to 10% of salary); new employee
referral bonuses (to $1,500 for some positions); life & disability insurance; retirement planning
assistance; phased-in retirement work options; subsidized auto and home insurance.
Rating: A+Health & Family-Friendly Benefits
Desjardins Group's health and family benefits are rated as exceptional. The cooperative's health
plan is self-insured through Desjardins Financial Security. As part of the health plan, the
employer pays 80% of the premiums. Employees who work 10 hours per week receive
coverage. There is no waiting period before coverage begins. Family coverage is available on
the health benefits plan. Retiree coverage is also available on the health plan, with no age limit.
The basic plan includes routine dental; restorative dental; traditional medicine coverage;
alternative medicine coverage; employee assistance (EAP) plan; healthclub subsidy (to $250
each year); medical equipment and supplies; massage therapy; travel insurance. Desjardins
Group family-friendly benefits include: maternity top-up payments (to 95% of salary for 18
weeks); parental leave top-up for new fathers (to 95% of salary for 12 weeks); parental leave
top-up for adoptive parents (to 95% of salary for 12 weeks); health benefits during maternity
and parental leave; extended unpaid parental leave option (beyond the first year); onsite
daycare centre; with 138 spaces; 33 childcare workers; and a 24 month waiting list for available
spaces. Additional family-friendly benefits include: flexible working hours; 35-hour work week
(with full pay); shortened work week (fewer hours with less pay); compressed work week;
telecommuting; and job-sharing.
Rating: B Vacation & Personal Time-Off
Desjardins Group's vacation and personal time-off are rated as average. New employees
receive 3 weeks of vacation allowance after their first year. Vacation increases after 5 years on
the job. Long-serving employees receive a maximum of 5 weeks of vacation each year.
Employees can also apply for an unpaid leave of absence. Employees can also arrange to take a
deferred pay leave of absence, from six months to one year in duration.
Rating: B+ Employee Engagement
Desjardins Group's employee engagement program is rated as very good. Employees receive
individual performance reviews every 4 months. Managers receive training in how to conduct
effective performance reviews. Depending on their position, employees may receive generous
performance recognition bonuses. Managers are also encouraged to be creative and tailoring
recognition awards to suit the needs and interests of the individual employees. Desjardins
Group also recognizes its long serving employees with cash bonuses and additional vacation
time. Desjardins Group hires an outside consultant to conduct confidential employee
satisfaction and engagement surveys. (These surveys are held every 12 months).
Page 78
Rating: A+ Training & Skills Development
Desjardins Group's training and skills development program is rated as exceptional. Employees
receive tuition subsidies for courses related to their position. (Employer covers up to 100% of
tuition). Employees may also receive tuition subsidies for courses unrelated to their current
position. (Employer covers up to 50% of non-related tuition). Subsidies for professional
accreditations; in-house apprenticeship and skilled trades programs; financial bonuses for
course completions; career planning services; in-house training programs; online training
programs; online employee skills inventory; financial bonuses for certain course completions
(to $1,000).
Rating: A+ Community Involvement
Desjardins Group's community involvement program is rated as exceptional. Every year, the
Group and its employees support numerous local, national and international charitable
initiatives. Employees receive paid time off to volunteer with their favourite charitable
organizations. Employees across the company are strong supports of the annual
Centraide/United Way campaigns across the country -- with Desjardins Group being recognized
through the charity's "Thanks a Million" award for the past twelve consecutive years. The
cooperative and its employees donated over $2.8 million to the campaign last year alone. The
Group has also been recognized by "Imagine Canada" as the country's most generous private
organizations redistributing 4.2% of its pre-tax earnings in the form of sponsorships, donations
and scholarships (this ratio greatly exceeds the program's recommended 1% threshold).
Through the company's longstanding "Fondation Desjardins" the company has been busy
supporting the "next generation" for the past four decades, granting nearly $12 million to over
9,300 students from across the province since the foundation's establishment. In addition to
generous corporate donations, employees volunteer and raise funds for numerous other
organizations every year, including the Montréal Heart Institute Foundation, Canadian Red
Cross and Héma Québec, Sainte Justine University Hospital Centre, and the Foundation AmandFrappier, to name a few.
Chosen as one of Greater Toronto's Top Employers for 2013:

helps employees save for retirement with employer contributions to a defined
contribution pension plan

also offers a great suite of financial benefits including signing bonuses for some, yearend bonuses for all employees and referral bonuses for employees who refer a
candidate that is successfully hired by the company
Page 79

supports employees who are new mothers, fathers, or adoptive parents with maternity
and parental leave top-up payments (to 100% of salary for 8 weeks) as well as extended
health benefits coverage throughout the duration of their leave

invests in ongoing employee development through subsidies for tuition and professional
accreditation, formal mentoring, leadership training and range of in-house and online
training programs
Industry: Credit Unions. Major Canadian hiring locations: Toronto ON, St Catharines ON.
Established: 2005. Full-time employees in Canada: 956. Full-time at this location: 322. Parttime employees in Canada: 227. Longest serving employee: 48 years. Number of applications
received at this location last year: 6,285. Average age of all employees: 42.
First Ontario Credit Union
Chosen as one of Hamilton-Niagara's Top Employers for 2013:

new employees start at three weeks of paid vacation allowance, moving to a maximum
of seven weeks for long-serving employees

invests in ongoing employee development through tuition subsidies for courses taken at
outside institutions, subsidies for professional accreditation and a variety of in-house
and online training programs

encourages employees to save for life after work with contributions to a defined
contribution pension plan or matching RSP, depending on employee group

also supports older workers who are preparing to leave the workforce with retirement
planning assistance and phased-in work options
Industry: Credit Unions. Major Canadian hiring locations: Hamilton ON, St Catharines ON.
Established: 1939. Full-time employees in Canada: 256. Part-time employees in Canada: 71.
Page 80
Longest serving employee: 40 years. Number of applications received at this location last year:
88. Average age of all employees: 47.
Caisses populaires acadiennes
Chosen as one of Atlantic Canada's Top Employers for 2013:

head office employees may take advantage of a variety of onsite amenities including a
fitness facility (with free membership), employee lounge and onsite cafeteria, with
healthy and special diet menus

invests in ongoing employee development with subsidies for tuition and professional
accreditation, financial bonuses for some course completion and a range of in-house
and online training programs

encourages employees to save for retirement with generous contributions to a defined
benefit pension plan (to 7.5% of salary)

an active member of the Acadian and Francophone community for over 75 years, the
credit union and its employees support numerous charitable and local community
events every year, with employees playing an active role in the selection of the
initiatives supported
Industry: Credit Unions. Full-time employees in Canada: 873. Full-time at this location: 234.
Part-time employees in Canada: 204. Longest serving employee: 40 years. Number of
applications received at this location last year: 75. Average age of all employees: 44.
Newfoundland and Labrador Credit Union Ltd.
Chosen as one of Atlantic Canada's Top Employers for 2013:

offers year-end bonuses that are available to all employees as well as referral bonuses
for employees who refer a candidate that is successfully hired by the company
Page 81

invests in ongoing employee development through subsidies for professional
accreditation and job-related courses, financial bonuses for some courses, career
planning services and leadership training

also supports children of employees who pursue post-secondary education with an
academic scholarship program (to $3,000)

encourages employees to save for life after work with generous contributions to a
matching RSP plan

an important member of the community, the credit union manages an in-house
charitable foundation to raise funds for charitable initiatives across the province,
directing support to a wide variety of local, national and international organizations
every year
Industry: Credit Unions. Major Canadian hiring locations: St. John's NL. Established: 1957. Fulltime employees in Canada: 129. Part-time employees in Canada: 16. Longest serving
employee: 39 years. Number of applications received at this location last year: 750. Average
age of all employees: 42.
Page 82
2012
Breakdown of credit unions by Auditors
Appendix
I
Comparative
Tables
Based on Audited
Financial Statements
For the period ending
December 31, 2012
Page 83
Largest Credit Unions in Canada Ranked by Asset Size
Asset Growth & Profitability
Ranked by Asset Size
Table 1a
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
Location
Servus
Meridian
Conexus
Steinbach
Assiniboine
Cambrian
Affinity
Alterna Savings
Prospera
Westminster Savings
North Shore
Interior Savings
First Ontario
Libro
Coastal Community
Crosstown Civic
Innovation
Access
Island Savings
Westoba
Synergy
Kawartha
Kootenay Savings
Windsor Family
Sunova
Mennonite Savings
Northern Savings
Chinook
Cornerstone
Sunrise
Spectra
Northern
United Communities
Vancouver
Surrey
Edmonton
St. Catharines
Langley
Regina
Steinbach
Winnipeg
Winnipeg
Calgary
Saskatoon
Ottawa
Abbotsford
New Westminster
North Vancouver
Kelona
Hamilton
London
Nanaimo
Winnipeg
North Battleford
Winnipeg
Duncan
Toronto
Brandon
Lloydminster
Vancouver
Peterborough
Trail
Windsor
Selkirk
Kitchener
Prince Rupert
Brooks
Yorkton
Treherne
Waterloo
Estevan
Sault Ste. Marie
Essex
British Columbia
British Columbia
Alberta
Ontario
British Columbia
Saskatchewan
Manitoba
Manitoba
Manitoba
Alberta
Saskatchewan
Ontario
British Columbia
British Columbia
British Columbia
British Columbia
Ontario
Ontario
British Columbia
Manitoba
Saskatchewan
Manitoba
British Columbia
Ontario
Manitoba
Saskatchewan
British Columbia
Ontario
British Columbia
Ontario
Manitoba
Ontario
British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Saskatchewan
Ontario
Ontario
2012
2011
Assets
($Mils)
Assets
($Mils)
17,056
12,600
12,185
8,745
5,887
4,202
3,963
3,431
2,764
2,663
2,474
2,386
2,316
2,291
2,199
2,077
1,806
1,736
1,700
1,699
1,657
1,507
1,411
1,277
1,165
1,128
1,088
966
958
908
907
827
822
807
807
749
726
720
713
703
16,127
11,768
11,235
7,842
5,459
3,817
3,556
3,117
2,398
2,461
2,334
2,294
2,143
2,132
2,056
2,053
1,528
1,588
1,679
1,443
1,483
1,408
1,354
1,185
1,042
1,041
1,049
728
960
773
809
764
858
735
764
685
615
690
685
650
Page 84
Table 1b
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
Location
Buduchnist
Ukrainian
Battle River
Mountain View
TCU Financial Group
Lakeland
Aldergrove
Integris
Salmon Arm Savings
Entegra
Noventis
Prairie Centre
Advantage
Hamilton Teachers
Community Savings
Weyburn
1st Choice Savings
Wainwright
Sunshine Coast
Toronto
Toronto
Camrose
Olds
Saskatoon
Bonnyville
Aldergrove
Prince George
Salmon Arm
Winnipeg
St. John's
Gimli
Rosetown
Melfort
Hamilton
Surrey
Weyburn
Leithbridge
Wainwright
Gibsons
Darmouth
Nipawin
Winnipeg
Rossburn
Sault Ste. Marie
St. John
Welland
Halifax
Sudbury
Fort St. John
Winnipeg
Dawson Creek
Smithers
Cochrane
Vernon
Calgary
Niverville
Rosenort
Portage La Prairie
East Coast
Diamond North
Carpathia
Vanguard*
Bayview
PenFinancial
Sudbury
Casera
Rocky
Lake View
Bulkley Valley
Bow Valley
VantageOne
Shell Employees'
Niverville
Rosenort
Portage
Ontario
Ontario
Alberta
Alberta
Saskatchewan
Alberta
British Columbia
British Columbia
British Columbia
Manitoba
Newfoundland
Manitoba
Saskatchewan
Saskatchewan
Ontario
British Columbia
Saskatchewan
Alberta
Alberta
British Columbia
Nova Scotia
Saskatchewan
Manitoba
Manitoba
Ontario
New Brunswick
Ontario
Nova Scotia
Ontario
British Columbia
Manitoba
Alberta
British Columbia
British Columbia
Alberta
British Columbia
Alberta
Manitoba
Manitoba
Manitoba
2,012
2,011
Assets
($Mils)
Assets
($Mils)
622
584
579
564
552
534
533
523
519
502
489
486
477
446
438
430
419
418
378
370
361
360
358
357
339
337
330
329
327
317
314
308
288
278
275
265
264
250
248
243
563
510
534
553
513
505
528
497
470
414
465
461
440
425
387
447
390
393
365
362
344
342
319
330
332
301
309
316
247
281
279
280
266
272
261
254
254
244
203
225
Page 85
Table 1c
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
2,012
2,011
Assets
($Mils)
Assets
($Mils)
Location
Sharons*
First
Swan Valley*
The Police*
Beaumont
Christian
Dauphin Plains
Crossroads*
Parama Lithuanian*
Bergengren
Prosperity One*
Plainsview*
Your
Lambton Financial*
Copperfin
Oakbank*
Sydenham Community
Unity
Horizon
Nelson & District
Starbuck
Revelstoke*
Northern Lights
Momentum*
Education*
Winnipeg Police
Biggar & District*
Columbia Valley
Shaunavon
Hald-Nor Community
Osoyoos
Creston & District
Estonian
Cranbrook
Vancouver
Powell River
Swan River
Toronto
Beaumont
Edmonton
Grand Forks
Dauphin
Canora
Toronto
Antigonish
Milton
Burnaby
Kipling
Ottawa
Windsor
Sarnia
Williams Lake
Kenora
Oak Bank
Summerland
Toronto
Strathroy
Unity
Melville
Nelson
Winnipeg
Revelstoke
Thunder Bay
Hamilton
Hamilton
Kitchener
Winnipeg
Barrie
Biggar
Toronto
Golden
Ladysmith
Shaunavon
Caledonia
Osoyoos
Creston
Toronto
British Columbia
British Columbia
British Columbia
Manitoba
Ontario
Alberta
Alberta
British Columbia
Manitoba
Saskatchewan
Ontario
Nova Scotia
Ontario
British Columbia
Saskatchewan
Ontario
Ontario
Ontario
British Columbia
Ontario
Manitoba
British Columbia
Ontario
Ontario
Saskatchewan
Saskatchewan
British Columbia
Manitoba
British Columbia
Ontario
Ontario
Ontario
Ontario
Manitoba
Ontario
Saskatchewan
Ontario
British Columbia
British Columbia
Saskatchewan
Ontario
British Columbia
British Columbia
Ontario
243
241
237
233
229
218
218
218
217
216
215
208
205
205
204
204
204
200
195
190
190
183
181
178
178
176
175
173
163
162
160
159
159
158
149
146
144
143
135
128
125
122
118
109
225
236
194
218
220
214
175
213
199
206
208
202
182
208
193
197
190
199
189
180
172
184
167
173
159
165
167
149
166
160
164
155
151
152
131
123
140
144
127
118
123
120
113
102
L'Anse au Loop
Newfoundland
101
95
138,150
127,856
125 Eagle River
Top 125 Credit Unions in Canada
Page 86
Largest Credit Unions in Canada Ranked by Net Income
Ranked by Net Income
Table 2a
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
Net
Location
Servus
Conexus
Steinbach
Meridian
Affinity
Cambrian
Assiniboine
First Ontario
Innovation
Crosstown Civic
Westminster Savings
Libro
Synergy
Battle River
Interior Savings
Access
Kawartha
Coastal Community
North Shore
Lakeland
Island Savings
Alterna Savings
Prospera
Westoba
Kootenay Savings
Cornerstone
Windsor Family
Buduchnist
TCU Financial Group
Salmon Arm Savings
Sunova
Sunrise
Prairie Centre
Weyburn
Edmonton
Surrey
Vancouver
Regina
Steinbach
St. Catharines
Saskatoon
Winnipeg
Langley
Winnipeg
Hamilton
North Battleford
Winnipeg
Toronto
New Westminster
London
Lloydminster
Camrose
Kelona
Winnipeg
Peterborough
Calgary
Nanaimo
North Vancouver
Bonnyville
Duncan
Ottawa
Abbotsford
Brandon
Vancouver
Trail
Yorkton
Windsor
Toronto
Saskatoon
Salmon Arm
Selkirk
Treherne
Rosetown
Weyburn
Alberta
British Columbia
British Columbia
Saskatchewan
Manitoba
Ontario
Saskatchewan
Manitoba
British Columbia
Manitoba
Ontario
Saskatchewan
Manitoba
Ontario
British Columbia
Ontario
Saskatchewan
Alberta
British Columbia
Manitoba
Ontario
Alberta
British Columbia
British Columbia
Alberta
British Columbia
Ontario
British Columbia
Manitoba
British Columbia
British Columbia
Saskatchewan
Ontario
Ontario
Saskatchewan
British Columbia
Manitoba
Manitoba
Saskatchewan
Saskatchewan
Return on Return on
Income **
($000's)
Assets
%
Equity
%
89,241
71,620
56,568
38,496
25,156
24,966
22,751
22,353
16,502
14,363
14,187
13,626
12,937
12,322
11,193
10,685
10,374
10,172
9,761
9,183
9,007
8,718
8,212
7,580
7,455
6,001
5,563
5,502
5,481
5,364
5,216
5,085
4,250
4,045
3,802
3,745
3,486
3,362
3,355
3,236
0.76%
0.59%
0.34%
0.96%
0.67%
0.30%
0.95%
0.87%
0.29%
0.44%
0.85%
0.87%
0.82%
1.00%
0.51%
0.64%
0.96%
1.83%
0.47%
0.63%
1.06%
0.34%
0.49%
0.36%
1.44%
0.43%
0.24%
0.25%
0.50%
0.50%
0.54%
0.65%
0.51%
0.68%
0.71%
0.76%
0.41%
0.47%
0.73%
0.80%
9.5%
10.3%
5.8%
12.6%
12.0%
4.8%
11.1%
14.3%
4.4%
7.9%
13.2%
11.3%
13.9%
12.4%
8.1%
10.1%
10.5%
13.2%
5.9%
9.0%
14.3%
4.7%
9.0%
7.0%
10.8%
6.9%
3.8%
4.6%
8.3%
7.5%
7.0%
8.2%
6.7%
8.1%
10.3%
11.9%
6.1%
8.0%
11.1%
10.4%
** net income = net income after comprehensive income adjustment.
Page 87
Table 2b
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
Net
Location
Chinook
Sudbury
Mountain View
Spectra
Noventis
Vanguard*
Carpathia
Aldergrove
Entegra
Wainwright
Sunshine Coast
Brooks
Waterloo
Sudbury
Olds
Estevan
Gimli
Rossburn
Winnipeg
Aldergrove
Winnipeg
Wainwright
Gibsons
Prince Rupert
Toronto
Nipawin
Smithers
St. John
Sault Ste. Marie
Powell River
Portage La Prairie
Welland
Essex
Dauphin
Winnipeg
Biggar
St. John's
Leithbridge
Vancouver
Prince George
Antigonish
Kenora
Canora
Swan River
Halifax
Creston
Hamilton
Rosenort
Kipling
Darmouth
Northern Savings
Ukrainian
Diamond North
Rocky
Bulkley Valley
Bayview
Northern
First
Portage
PenFinancial
United Communities
Dauphin Plains
Casera
Biggar & District*
1st Choice Savings
Sharons*
Integris
Bergengren
Copperfin
Crossroads*
Swan Valley*
Creston & District
Hamilton Teachers
Rosenort
Plainsview*
East Coast
Alberta
Ontario
Ontario
Alberta
Saskatchewan
Manitoba
Manitoba
Manitoba
British Columbia
Manitoba
Alberta
British Columbia
British Columbia
Ontario
Saskatchewan
Alberta
British Columbia
New Brunswick
Ontario
British Columbia
Manitoba
Ontario
Ontario
Manitoba
Manitoba
Saskatchewan
Newfoundland
Alberta
British Columbia
British Columbia
Nova Scotia
Ontario
Saskatchewan
Manitoba
Nova Scotia
British Columbia
Ontario
Manitoba
Saskatchewan
Nova Scotia
Return on Return on
Income **
($000's)
Assets
%
Equity
%
2,739
2,664
2,627
2,570
2,539
2,465
2,392
2,357
2,334
2,248
2,198
2,173
2,053
1,983
1,952
1,826
1,800
1,734
1,726
1,693
1,674
1,569
1,554
1,549
1,489
1,458
1,429
1,421
1,420
1,389
1,381
1,347
1,333
1,160
1,160
1,153
1,137
1,134
1,106
1,105
0.36%
0.40%
0.92%
0.46%
0.36%
0.52%
0.70%
0.70%
0.44%
0.49%
0.59%
0.59%
0.24%
0.36%
0.56%
0.62%
0.65%
0.54%
0.25%
0.79%
0.72%
0.49%
0.23%
0.75%
0.50%
1.08%
0.30%
0.35%
0.60%
0.27%
0.67%
0.73%
0.63%
0.51%
0.36%
1.00%
0.28%
0.50%
0.56%
0.31%
4.4%
5.9%
11.2%
6.0%
4.9%
8.7%
10.3%
12.2%
5.1%
9.5%
7.1%
7.6%
5.6%
5.0%
7.9%
6.1%
8.7%
7.8%
3.7%
8.0%
12.8%
6.1%
3.5%
14.5%
9.5%
13.1%
6.0%
5.1%
10.0%
5.4%
9.0%
9.9%
8.7%
8.9%
6.2%
7.5%
4.6%
9.0%
7.9%
3.8%
Page 88
Table 2c
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
Net
Location
Grand Forks
Unity
Unity
Christian
Edmonton
Horizon
Melville
Sydenham Community
Strathroy
Northern Lights
Thunder Bay
Fort St. John
Advantage
Melfort
Parama Lithuanian*
Toronto
Shell Employees'
Calgary
Summerland
Niverville
Niverville
Sault Ste. Marie
Burnaby
Bow Valley
Cochrane
Shaunavon
Shaunavon
Beaumont
Beaumont
Starbuck
Winnipeg
Lambton Financial*
Sarnia
Barrie
Cranbrook
Winnipeg Police
Winnipeg
Windsor
Eagle River
L'Anse au Loop
Revelstoke*
Revelstoke
Estonian
Toronto
Lake View
Dawson Creek
Your
Ottawa
Oakbank*
Oak Bank
Osoyoos
Osoyoos
VantageOne
Vernon
Hald-Nor Community
Caledonia
Columbia Valley
Golden
Nelson & District
Nelson
Toronto
Education*
Kitchener
The Police*
Toronto
Hamilton
Momentum*
Hamilton
Williams Lake
Ladysmith
Prosperity One*
Milton
Toronto
Community Savings
Surrey
125 Mennonite Savings
Kitchener
British Columbia
Saskatchewan
Alberta
Saskatchewan
Ontario
Ontario
British Columbia
Saskatchewan
Ontario
Alberta
British Columbia
Manitoba
Ontario
British Columbia
Alberta
Saskatchewan
Alberta
Manitoba
Ontario
Ontario
British Columbia
Manitoba
Ontario
Newfoundland
British Columbia
Ontario
British Columbia
Ontario
Manitoba
British Columbia
British Columbia
Ontario
British Columbia
British Columbia
Ontario
Ontario
Ontario
Ontario
Ontario
British Columbia
British Columbia
Ontario
Ontario
British Columbia
Ontario
Return on Return on
Income **
($000's)
Assets
%
Equity
%
1,101
1,096
1,033
995
921
920
887
879
870
803
791
778
768
764
731
712
701
667
664
647
620
605
597
578
539
512
486
481
462
457
451
431
424
291
287
279
244
226
189
134
99
(137)
(194)
0.51%
0.65%
0.53%
0.58%
0.52%
0.57%
0.30%
0.20%
0.41%
0.31%
0.43%
0.32%
0.23%
0.37%
0.27%
0.58%
0.32%
0.41%
0.33%
0.46%
0.27%
0.39%
0.30%
0.59%
0.33%
0.49%
0.18%
0.24%
0.26%
0.38%
0.17%
0.35%
0.29%
0.17%
0.20%
0.18%
0.11%
0.14%
0.12%
0.07%
0.08%
0.00%
-0.08%
-0.04%
8.6%
8.2%
8.1%
9.0%
7.5%
10.3%
3.6%
3.5%
6.5%
5.9%
5.8%
5.1%
3.8%
6.5%
4.2%
6.6%
4.5%
7.9%
4.2%
7.7%
3.6%
6.3%
4.1%
8.1%
4.7%
7.1%
2.9%
4.2%
4.9%
4.9%
2.2%
4.4%
3.3%
2.0%
1.5%
3.2%
2.2%
2.4%
1.4%
1.1%
1.1%
0.0%
-1.1%
-0.9%
(273)
-0.03%
-0.4%
0.53%
7.9%
700,478
Page 89
Largest Credit Unions in Canada Ranked by Return on Average Assets
Ranked by Return on Assets
Table 3a
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
Net
Location
Battle River
Lakeland
Biggar & District*
Kawartha
Creston & District
Conexus
Synergy
Affinity
Sudbury
Innovation
Cambrian
First Ontario
Crosstown Civic
Weyburn
First
Servus
Salmon Arm Savings
Dauphin Plains
Prairie Centre
Copperfin
Portage
TCU Financial Group
Vanguard*
Carpathia
Buduchnist
Bergengren
Steinbach
Bulkley Valley
Unity
Cornerstone
Libro
Crossroads*
Access
Rocky
Sharons*
Sunshine Coast
Camrose
Bonnyville
Biggar
Peterborough
Toronto
Creston
Regina
Lloydminster
Saskatoon
Sudbury
North Battleford
Winnipeg
Hamilton
Winnipeg
Weyburn
Powell River
Edmonton
Salmon Arm
Dauphin
Rosetown
Kenora
Portage La Prairie
Saskatoon
Rossburn
Winnipeg
Toronto
Antigonish
Steinbach
Smithers
Unity
Yorkton
London
Canora
Winnipeg
Vancouver
Gibsons
L'Anse au Loop
Wainwright
Surrey
Eagle River
Wainwright
Return on Return on
Income ** Assets
($000's)
%
Alberta
Alberta
Saskatchewan
Ontario
Ontario
British Columbia
Saskatchewan
Saskatchewan
Saskatchewan
Ontario
Saskatchewan
Manitoba
Ontario
Manitoba
Saskatchewan
British Columbia
Alberta
British Columbia
Manitoba
Saskatchewan
Ontario
Manitoba
Saskatchewan
Manitoba
Manitoba
Ontario
Nova Scotia
Manitoba
British Columbia
Saskatchewan
Saskatchewan
Ontario
Saskatchewan
Manitoba
Alberta
British Columbia
British Columbia
Newfoundland
Alberta
British Columbia
10,172
7,455
1,458
9,007
12,322
1,153
38,496
10,374
22,751
2,627
13,626
22,353
14,187
12,937
3,236
1,693
89,241
3,745
1,549
3,355
1,347
1,674
3,802
2,392
2,357
4,045
1,381
25,156
1,800
1,096
5,085
10,685
1,333
9,183
1,826
1,420
2,173
578
2,198
71,620
1.83%
1.44%
1.08%
1.06%
1.00%
1.00%
0.96%
0.96%
0.95%
0.92%
0.87%
0.87%
0.85%
0.82%
0.80%
0.79%
0.76%
0.76%
0.75%
0.73%
0.73%
0.72%
0.71%
0.70%
0.70%
0.68%
0.67%
0.67%
0.65%
0.65%
0.65%
0.64%
0.63%
0.63%
0.62%
0.60%
0.59%
0.59%
0.59%
0.59%
Equity
%
13.2%
10.8%
13.1%
14.3%
12.4%
7.5%
12.6%
10.5%
11.1%
11.2%
11.3%
14.3%
13.2%
13.9%
10.4%
8.0%
9.5%
11.9%
14.5%
11.1%
9.9%
12.8%
10.3%
10.3%
12.2%
8.1%
9.0%
12.0%
8.7%
8.2%
8.2%
10.1%
8.7%
9.0%
6.1%
10.0%
7.6%
8.1%
7.1%
10.3%
Page 90
Table 3b
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
Net
Location
Horizon
Shaunavon
Northern Lights
Diamond North
Plainsview*
Kootenay Savings
Bayview
Christian
Sydenham Community
Noventis
Swan Valley*
Westminster Savings
Windsor Family
Casera
Rosenort
Westoba
PenFinancial
Entegra
Coastal Community
Estonian
Interior Savings
Sunrise
Mountain View
Aldergrove
Assiniboine
Island Savings
Starbuck
Parama Lithuanian*
Sunova
Winnipeg Police
Osoyoos
Ukrainian
Spectra
Melville
Shaunavon
Thunder Bay
Nipawin
Kipling
Trail
St. John
Edmonton
Strathroy
Gimli
Swan River
Grand Forks
New Westminster
Windsor
Winnipeg
Rosenort
Vancouver
Brandon
Welland
Winnipeg
Nanaimo
Toronto
Kelona
Treherne
Barrie
Olds
Aldergrove
Winnipeg
Duncan
Summerland
Winnipeg
Toronto
Selkirk
Waterloo
Winnipeg
Osoyoos
Burnaby
Toronto
Estevan
Halifax
Return on Return on
Income ** Assets
($000's)
%
Saskatchewan
Saskatchewan
Ontario
Saskatchewan
Saskatchewan
British Columbia
New Brunswick
Alberta
Ontario
Manitoba
Manitoba
British Columbia
British Columbia
Ontario
Manitoba
Manitoba
British Columbia
Manitoba
Ontario
Manitoba
British Columbia
Ontario
British Columbia
Manitoba
Ontario
Alberta
British Columbia
Manitoba
British Columbia
British Columbia
Manitoba
Ontario
Manitoba
Ontario
Manitoba
British Columbia
British Columbia
Ontario
Saskatchewan
Nova Scotia
995
712
920
1,952
1,106
5,216
1,734
1,033
921
2,465
1,160
1,101
11,193
4,250
1,489
1,134
5,364
5,481
1,569
2,248
8,212
512
9,761
3,362
647
2,570
2,334
14,363
6,001
791
667
870
3,486
2,664
605
457
764
1,983
2,539
1,160
0.58%
0.58%
0.57%
0.56%
0.56%
0.54%
0.54%
0.53%
0.52%
0.52%
0.51%
0.51%
0.51%
0.51%
0.50%
0.50%
0.50%
0.50%
0.49%
0.49%
0.49%
0.49%
0.47%
0.47%
0.46%
0.46%
0.44%
0.44%
0.43%
0.43%
0.41%
0.41%
0.41%
0.40%
0.39%
0.38%
0.37%
0.36%
0.36%
0.36%
Equity
%
9.0%
6.6%
10.3%
7.9%
7.9%
7.0%
7.8%
8.1%
7.5%
8.7%
8.9%
8.6%
8.1%
6.7%
9.5%
9.0%
7.5%
8.3%
6.1%
9.5%
9.0%
7.1%
5.9%
8.0%
7.7%
6.0%
5.1%
7.9%
6.9%
5.8%
7.9%
6.5%
6.1%
5.9%
6.3%
4.9%
6.5%
5.0%
4.9%
6.2%
Page 91
Table 3c
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
Net
Location
North Shore
Chinook
1st Choice Savings
Hald-Nor Community
Lambton Financial*
Revelstoke*
Beaumont
Niverville
East Coast
Shell Employees'
Meridian
Columbia Valley
Hamilton Teachers
Bow Valley
Integris
Oakbank*
Northern
Prospera
Northern Savings
Your
Alterna Savings
United Communities
Advantage
Education*
Lake View
VantageOne
Nelson & District
Momentum*
The Police*
Prosperity One*
Mennonite Savings
Community Savings
North Vancouver
Brooks
Leithbridge
Caledonia
Vancouver
Calgary
Sarnia
Revelstoke
Beaumont
Niverville
Darmouth
Calgary
Windsor
St. Catharines
St. John's
Fort St. John
Golden
Langley
Hamilton
Cochrane
Prince George
Cranbrook
Oak Bank
Sault Ste. Marie
Abbotsford
Prince Rupert
Ottawa
Ottawa
Essex
Sault Ste. Marie
Toronto
Melfort
Kitchener
Dawson Creek
Vernon
Nelson
Hamilton
Hamilton
Toronto
Ladysmith
Williams Lake
Milton
Kitchener
Surrey
British Columbia
Alberta
Alberta
Ontario
British Columbia
Alberta
Ontario
British Columbia
Alberta
Manitoba
Nova Scotia
Alberta
Ontario
Ontario
Newfoundland
British Columbia
British Columbia
British Columbia
Ontario
Alberta
British Columbia
British Columbia
Manitoba
Ontario
British Columbia
British Columbia
Ontario
Ontario
Ontario
Ontario
Ontario
Saskatchewan
Ontario
British Columbia
British Columbia
British Columbia
Ontario
Ontario
Ontario
British Columbia
British Columbia
Ontario
Ontario
British Columbia
Toronto
Ontario
Return on Return on
Income ** Assets
($000's)
%
7,580
2,739
1,421
431
56,568
8,718
664
539
701
778
1,105
803
597
24,966
1,429
887
424
16,502
1,137
731
1,389
620
462
1,726
5,502
2,053
481
5,563
1,554
768
287
879
279
486
451
291
226
189
244
99
134
(273)
(194)
0.36%
0.36%
0.35%
0.35%
0.34%
0.34%
0.33%
0.33%
0.32%
0.32%
0.31%
0.31%
0.30%
0.30%
0.30%
0.30%
0.29%
0.29%
0.28%
0.27%
0.27%
0.27%
0.26%
0.25%
0.25%
0.24%
0.24%
0.24%
0.23%
0.23%
0.20%
0.20%
0.18%
0.18%
0.17%
0.17%
0.14%
0.12%
0.11%
0.08%
0.07%
0.00%
-0.03%
-0.04%
7.0%
4.4%
5.1%
4.4%
5.8%
4.7%
4.2%
4.7%
4.5%
5.1%
3.8%
5.9%
4.1%
4.8%
6.0%
3.6%
3.3%
4.4%
4.6%
4.2%
5.4%
3.6%
4.9%
3.7%
4.6%
5.6%
4.2%
3.8%
3.5%
3.8%
1.5%
3.5%
3.2%
2.9%
2.2%
2.0%
2.4%
1.4%
2.2%
1.1%
1.1%
0.0%
-0.4%
-0.9%
(137)
-0.08%
-1.1%
0.53%
7.9%
700,478
Equity
%
Page 92
Analysis of Credit Union Financial Results
by Province or Region [Atlantic Canada]
Page 93
Schedule 1
British Columbia
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
#
30
31
32
28
26
27
Asset
Assets Growth
($Mils)
%
Location
Prospera
Westminster Savings
North Shore
Interior Savings
Coastal Community
Island Savings
Kootenay Savings
Northern Savings
Aldergrove
Integris
Salmon Arm Savings
Community Savings
Sunshine Coast
Lake View
Bulkley Valley
VantageOne
Sharons*
First
Nelson & District
Revelstoke*
Columbia Valley
Osoyoos
Creston & District
Total 2012
Vancouver
Surrey
Langley
Abbotsford
New Westminster
North Vancouver
Kelona
Nanaimo
Duncan
Vancouver
Trail
Prince Rupert
Aldergrove
Prince George
Salmon Arm
Surrey
Gibsons
Fort St. John
Dawson Creek
Smithers
Vernon
Cranbrook
Vancouver
Powell River
Grand Forks
Burnaby
Williams Lake
Summerland
Nelson
Revelstoke
Golden
Ladysmith
Osoyoos
Creston
British Columbia
Total 2011
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
Net
Return on Return on
Income ** Assets
Equity
($000's)
%
%
17,055.8
12,599.5
5,886.7
2,316.0
2,291.1
2,199.4
2,077.2
1,699.8
1,411.4
1,088.0
958.1
821.5
533.0
523.1
519.1
429.6
369.7
317.4
288.0
278.2
264.6
242.7
241.3
236.9
217.5
204.5
194.5
183.3
174.6
163.3
143.3
134.9
121.7
118.1
$56,304
5.8%
7.1%
7.8%
8.1%
7.5%
7.0%
1.2%
1.2%
4.2%
3.7%
-0.2%
-4.2%
1.0%
5.4%
10.5%
-3.9%
2.0%
12.8%
8.4%
2.5%
4.2%
7.8%
2.4%
22.0%
2.1%
-1.8%
2.8%
-0.4%
4.4%
-1.8%
-0.7%
6.0%
1.3%
4.9%
5.6%
56,568
71,620
16,502
5,502
11,193
7,580
9,761
8,212
6,001
5,364
5,216
2,053
2,334
1,389
3,745
(194)
2,173
887
486
1,800
451
620
1,420
1,693
1,101
764
134
791
291
539
424
99
457
1,153
$228,128
0.34%
0.59%
0.29%
0.25%
0.51%
0.36%
0.47%
0.49%
0.43%
0.50%
0.54%
0.24%
0.44%
0.27%
0.76%
-0.04%
0.59%
0.30%
0.18%
0.65%
0.17%
0.27%
0.60%
0.79%
0.51%
0.37%
0.07%
0.43%
0.17%
0.33%
0.29%
0.08%
0.38%
1.00%
0.42%
5.8%
10.3%
4.4%
4.6%
8.1%
7.0%
5.9%
9.0%
6.9%
7.5%
7.0%
5.6%
5.1%
5.4%
11.9%
-0.9%
7.6%
3.6%
2.9%
8.7%
2.2%
3.6%
10.0%
8.0%
8.6%
6.5%
1.1%
5.8%
2.0%
4.7%
3.3%
1.1%
4.9%
7.5%
6.8%
$52,601
$48,092
$47,629
$42,534
$44,658
$38,580
7.6%
4.5%
4.5%
9.0%
6.7%
10.7%
$322,514
$300,229
$241,759
$213,696
$213,996
$210,362
0.65%
0.91%
0.52%
0.66%
0.79%
0.74%
10.5%
15.6%
9.2%
10.9%
13.9%
11.8%
*Prepared from condensed balance sheet and income statement.
**Net income is defined as net income before dividends,
patronage dividends and comprehensive adjustment.
Page 94
Schedule 1
Alberta
Asset
Assets Growth
($Mils)
%
Location
1
2
3
4
5
6
7
8
9
10
11
12
13
Servus
Chinook
Battle River
Mountain View
Lakeland
1st Choice Savings
Wainwright
Rocky
Bow Valley
Shell Employees'
Beaumont
Christian
Total 2012
Edmonton
Calgary
Brooks
Camrose
Olds
Bonnyville
Leithbridge
Wainwright
Cochrane
Calgary
Beaumont
Edmonton
#
12
12
14
13
12
13
Alberta
Total 2011
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
Net Return on Return on
Income ** Assets
Equity
($000's)
%
%
12,185.3
2,662.6
806.8
579.3
563.6
533.9
417.9
378.0
308.1
274.6
264.5
218.3
217.8
$19,410
8.5%
8.2%
9.8%
8.5%
2.0%
5.7%
6.2%
3.5%
10.0%
5.1%
4.1%
2.1%
24.3%
8.0%
89,652
8,718
2,739
10,172
2,570
7,455
1,421
2,198
1,826
731
803
701
1,033
$130,020
0.77%
0.34%
0.36%
1.83%
0.46%
1.44%
0.35%
0.59%
0.62%
0.27%
0.31%
0.32%
0.53%
0.70%
9.6%
4.7%
4.4%
13.2%
6.0%
10.8%
5.1%
7.1%
6.1%
4.2%
5.9%
4.5%
8.1%
8.6%
$17,600
$16,947
$16,471
$14,794
$13,211
$11,047
3.9%
4.6%
6.2%
12.2%
13.2%
17.2%
$100,661
$110,411
$114,539
$132,827
$117,218
$98,723
0.58%
0.67%
0.72%
0.95%
1.03%
0.98%
7.4%
8.7%
9.6%
13.4%
13.8%
13.3%
Page 95
Schedule 1
Manitoba
Asset
Assets Growth
($Mils)
%
Location
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Steinbach
Assiniboine
Cambrian
Crosstown Civic
Access
Westoba
Sunova
SunRise
Entegra
Noventis
Carpathia
Vanguard*
Casera
Niverville
Rosenort
Portage
Swan Valley*
Dauphin Plains
Oakbank*
Starbuck
Winnipeg Police
Total 2012
Steinbach
Winnipeg
Winnipeg
Winnipeg
Winnipeg
Brandon
Selkirk
Treherne
Winnipeg
Gimli
Winnipeg
Rossburn
Winnipeg
Niverville
Rosenort
Portage La Prairie
Swan River
Dauphin
Oak Bank
Winnipeg
Winnipeg
#
20
19
20
16
12
16
Manitoba
Total 2011
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
3,962.5
3,431.5
2,764.2
1,698.6
1,507.2
1,165.1
907.5
748.8
501.9
485.9
358.1
356.5
314.1
249.6
248.3
243.0
233.0
216.8
189.8
173.1
157.6
$19,913
$17,357
$15,579
$14,265
$11,693
$9,579
$8,706
11.4%
10.1%
15.3%
17.7%
7.1%
11.8%
12.2%
9.4%
21.2%
5.5%
12.3%
8.0%
12.7%
2.3%
22.2%
8.1%
7.0%
9.1%
10.6%
16.2%
3.5%
11.7%
10.0%
10.4%
6.5%
9.0%
20.3%
12.3%
Net
Return on Return on
Income ** Assets
Equity
($000's)
%
%
25,156
14,363
22,353
12,937
9,183
5,481
3,486
3,362
2,685
2,465
2,357
2,392
1,489
778
1,094
1,674
1,160
1,549
462
667
605
$115,700
$113,776
$97,416
$74,934
$84,849
$66,896
$65,785
0.67%
0.44%
0.87%
0.82%
0.63%
0.50%
0.41%
0.47%
0.59%
0.52%
0.70%
0.70%
0.50%
0.32%
0.48%
0.72%
0.51%
0.75%
0.26%
0.41%
0.39%
0.61%
12.0%
7.9%
14.3%
13.9%
9.0%
8.3%
6.1%
8.0%
11.3%
8.7%
12.2%
10.3%
9.5%
5.1%
8.7%
12.8%
8.9%
14.5%
4.9%
7.9%
6.3%
10.4%
0.69%
0.66%
0.55%
0.77%
0.84%
0.86%
11.6%
11.4%
9.5%
14.3%
13.6%
14.4%
Page 96
Schedule 1
Ontario
Asset
Assets Growth
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
#
36
35
35
32
31
31
Location
($Mils)
Meridian
St. Catharines
Alterna Savings
Ottawa
First Ontario
Hamilton
Libro
London
Toronto
Kawartha
Peterborough
Windsor Family
Windsor
Mennonite Savings
Kitchener
Waterloo
Northern
Sault Ste. Marie
United Communities
Essex
Buduchnist
Toronto
Ukrainian
Toronto
Hamilton Teachers
Hamilton
Sault Ste. Marie
PenFinancial
Welland
Sudbury
Sudbury
The Police*
Toronto
Parama Lithuanian*
Toronto
Prosperity One*
Milton
Your
Ottawa
Windsor
Lambton Financial*
Sarnia
Copperfin
Kenora
Toronto
Sydenham Community
Strathroy
Northern Lights
Thunder Bay
Momentum*
Hamilton
Hamilton
Education*
Kitchener
Barrie
Toronto
Hald-Nor Community
Caledonia
Estonian
Toronto
Total 2012
Ontario
Total 2011
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
%
Income **
($000's)
Assets
Equity
%
%
8,745.4
2,386.2
1,805.6
1,736.2
1,277.2
965.9
908.0
826.7
725.9
712.7
703.1
622.0
583.8
438.5
339.1
330.0
326.7
229.1
215.3
204.7
204.1
203.8
200.1
190.3
181.2
178.3
162.2
159.8
159.4
159.0
148.9
144.0
125.2
108.8
$26,407
11.5%
4.0%
18.2%
9.3%
7.8%
32.6%
17.5%
8.1%
18.0%
4.1%
8.2%
10.5%
14.4%
13.4%
2.1%
6.8%
32.3%
4.3%
3.5%
12.3%
3.4%
7.5%
0.5%
5.4%
8.3%
2.9%
1.4%
-2.4%
2.9%
5.6%
13.7%
3.2%
2.0%
6.7%
10.8%
24,966
5,563
14,187
10,685
12,322
9,007
4,250
(273)
2,664
1,726
1,554
4,045
1,983
1,137
768
1,569
2,627
244
870
481
597
664
1,347
(137)
921
920
189
226
279
647
287
431
512
$107,257
0.30%
0.24%
0.85%
0.64%
1.00%
1.06%
0.51%
-0.03%
0.40%
0.25%
0.23%
0.68%
0.36%
0.28%
0.23%
0.49%
0.92%
0.11%
0.41%
0.00%
0.24%
0.30%
0.33%
0.73%
-0.08%
0.52%
0.57%
0.12%
0.14%
0.18%
0.46%
0.20%
0.35%
0.49%
0.43%
4.8%
3.8%
13.2%
10.1%
12.4%
14.3%
6.7%
-0.4%
5.9%
3.7%
3.5%
8.1%
5.0%
4.6%
3.8%
6.1%
11.2%
2.2%
6.5%
0.0%
4.2%
4.1%
4.2%
9.9%
-1.1%
7.5%
10.3%
1.4%
2.4%
3.2%
7.7%
1.5%
4.4%
7.1%
6.3%
$24,527
$20,816
$19,330
$17,563
$16,060
$14,942
13.7%
6.9%
7.9%
8.2%
8.6%
6.3%
$127,956
$91,160
$89,388
$105,488
$79,270
$72,077
0.61%
0.46%
0.49%
0.63%
0.49%
0.55%
8.0%
6.7%
6.9%
8.9%
6.8%
7.7%
Page 97
Schedule 1
Saskatchewan
Asset
Assets Growth
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
#
13
14
15
10
10
11
Location
Conexus
Affinity
Innovation
Synergy
Cornerstone
Spectra
TCU Financial Group
Prairie Centre
Advantage
Weyburn
Diamond North
Crossroads*
Plainsview*
Unity
Horizon
Biggar & District*
Shaunavon
Total 2012
Regina
Saskatoon
North Battleford
Lloydminster
Yorkton
Estevan
Saskatoon
Rosetown
Melfort
Weyburn
Nipawin
Canora
Kipling
Unity
Melville
Biggar
Shaunavon
Saskatchewan
Total 2011
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
($Mils)
%
Income **
($000's)
Assets
Equity
%
%
4,202.0
2,473.9
1,656.9
1,128.5
806.6
720.1
552.5
477.1
445.8
419.2
360.3
216.0
204.5
178.1
176.3
145.6
128.0
$14,291
10.1%
6.0%
11.7%
8.4%
5.6%
4.4%
7.6%
8.5%
5.0%
7.5%
5.5%
4.6%
5.9%
12.1%
6.9%
18.0%
8.8%
8.2%
38,496
22,751
13,626
10,374
5,085
2,539
3,802
3,355
879
3,236
1,952
1,333
1,106
1,096
995
1,458
712
$112,795
0.96%
0.95%
0.87%
0.96%
0.65%
0.36%
0.71%
0.73%
0.20%
0.80%
0.56%
0.63%
0.56%
0.65%
0.58%
1.08%
0.58%
0.82%
12.6%
11.1%
11.3%
10.5%
8.2%
4.9%
10.3%
11.1%
3.5%
10.4%
7.9%
8.7%
7.9%
8.2%
9.0%
13.1%
6.6%
10.6%
$12,285
$11,158
$11,047
$9,006
$6,766
$6,088
8.7%
4.2%
7.5%
11.8%
12.0%
8.3%
$80,166
$93,514
$58,519
$84,460
$60,883
$56,402
0.68%
0.86%
0.55%
1.06%
0.88%
0.86%
8.8%
11.2%
7.4%
12.7%
12.1%
11.6%
Page 98
Schedule 1
Atlantic Provinces
Asset
Assets Growth
1
2
3
4
5
6
#
4
4
4
4
4
4
Location
East Coast
Bayview
Bergengren
Eagle River
Total 2012
St. John's
Darmouth
St. John
Halifax
Antigonish
L'Anse au Loop
Atlantic Provinces
Total 2011
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
($Mils)
Income **
Assets
Equity
%
($000's)
%
%
489.0
360.6
337.2
328.5
207.9
100.8
$1,824
5.1%
4.7%
12.1%
4.1%
2.7%
6.5%
5.9%
1,429
1,105
1,734
1,268
1,381
578
$7,495
0.30%
0.31%
0.54%
0.39%
0.67%
0.59%
0.42%
6.0%
3.8%
7.8%
6.8%
9.0%
8.1%
6.4%
$1,426
$1,150
$1,088
$1,004
$885
$720
28.4%
5.1%
8.5%
13.4%
6.8%
12.1%
$7,948
$5,135
$4,335
$3,541
$3,654
$2,504
0.61%
0.46%
0.41%
0.37%
0.45%
0.38%
9.5%
7.6%
8.6%
5.8%
6.8%
5.9%
Schedule 1
Yearly Trend
125
115
115
120
101
98
101
Total 2012
Total 2011
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
Asset
Location
Assets Growth
($Mils)
%
$157,561 23.2%
$125,797
8.8%
$113,742
5.7%
$109,830
6.5%
$98,718
9.0%
$89,036 12.3%
$80,082
9.8%
Income **
($000's)
$700,478
$753,021
$697,865
$583,474
$621,160
$541,618
$505,852
Assets
%
0.53%
0.64%
0.63%
0.55%
0.66%
0.64%
0.66%
Equity
%
7.9%
9.4%
9.9%
8.6%
10.7%
10.6%
10.9%
Page 99
Schedule 2
Loan Portfolio
British Columbia
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Prospera
Westminster Savings
North Shore
Interior Savings
Coastal Community
Island Savings
Kootenay Savings
Northern Savings
Aldergrove
Integris
Salmon Arm Savings
Community Savings
Sunshine Coast
22
23
24
25
26
27
28
29
Sharons*
First
Nelson & District
30
31
32
33
34
Revelstoke*
Columbia Valley
Osoyoos
Creston & District
Total 2012
Lake View
Bulkley Valley
VantageOne
Mix %
#
30
31
32
28
26
27
Total 2011
Mix % 2011
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
Residential Commercial
Mortgage Mortgage Consumer Agriculture Business
Loans
Loans
Loans
Loans
Loans
($000's)
($000's)
($000's)
($000's) ($000's)
Total
Loans
($000's)
7,426,860
8,013,205
2,659,239
1,245,643
1,074,570
1,265,541
1,284,063
998,320
793,023
664,051
444,887
553,983
265,383
273,420
252,948
220,519
240,366
0
128,438
172,267
140,688
2,183,612
2,493,042
1,283,855
565,640
227,659
650,581
460,912
355,978
327,658
277,534
191,985
81,215
125,637
133,050
104,158
96,231
65,742
0
17,991
0
39,565
2,931,077
278,989
1,061,810
294,343
199,921
22,624
79,054
163,083
139,032
16,989
150,028
26,775
38,994
46,853
66,625
40,113
16,468
0
24,701
34,226
6,667
-
1,884,112
163,675
508,003
15,952
15,018
15,103
4,869
21,299
14,425,661
10,785,236
5,168,579
2,105,626
2,010,153
1,938,746
1,824,029
1,517,381
1,259,713
958,574
802,852
676,992
445,118
453,324
423,732
356,862
327,445
233,268
171,130
206,494
208,218
105,599
143,101
101,250
116,080
83,868
67,185
58,010
21,182
42,767
55,218
25,934
37,925
18,937
26,227
20,564
3,460
31,396
5,643
-
25,225
3,468
416
4,589
-
207,770
193,704
190,510
168,049
175,173
142,697
145,787
110,754
53,979
63,492
43,636
44,310
28,939,913
13,450
27,287
18,703
14,248
9,996,768
7,077
19,344
18,261
6,300
5,795,583
-
1,013
3,977
2,843
2,669,562
127,872
75,519
114,100
83,443
64,858
48,099,368
61%
21%
12%
-
6%
100%
26,704,156
62%
23,626,574
23,145,140
21,489,120
21,084,610
19,932,455
8,567,229
20%
7,693,375
7,850,986
7,908,784
6,982,047
5,949,718
5,457,303
13%
5,548,701
5,168,727
5,217,639
5,376,755
5,214,179
-
2,405,255
6%
2,212,466
2,159,660
2,057,979
1,948,912
1,877,869
44,208,212
100%
40,449,673
38,324,513
37,740,126
37,347,026
33,601,764
Page 100
Schedule 2
Loan Portfolio
Alberta
1
2
3
4
5
6
7
8
9
10
11
12
13
Loans
Loans
Loans
Loans
Loans
($000's)
($000's)
($000's)
($000's) ($000's)
Servus
Chinook
Battle River
Mountain View
Lakeland
1st Choice Savings
Wainwright
Rocky
Bow Valley
Shell Employees'
Beaumont
Christian
Total 2012
Mix %
#
12
12
14
13
12
13
Total 2011
Mix % 2011
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
* 2006: total farm & business loans
Total
Loans
($000's)
$6,121,552
$1,280,756
$334,849
$201,215
$191,228
$224,153
$166,632
$113,336
$94,715
$144,705
$155,192
$87,618
$67,550
9,183,502
$3,182,053
$663,004
$133,324
$87,110
$84,364
$91,106
$62,177
$93,254
$13,448
$46,122
$40,692
$32,549
4,529,204
$1,060,593
$143,718
$71,386
$57,921
$88,334
$65,620
$20,580
$35,576
$52,486
$21,897
$48,210
$43,363
$10,686
1,720,370
$311,421
$90,478
$96,676
$78,837
$9,004
$53,583
$40,189
$8,215
$65
$1,465
$6,828
696,761
56%
28%
10%
4%
2%
100%
8,558,583
56%
8,087,510
7,805,247
7,116,359
6,625,785
5,306,556
4,053,444
27%
3,851,546
3,738,155
3,468,889
2,868,458
2,205,058
1,708,977
11%
1,660,375
1,658,680
1,365,135
1,383,077
1,320,238
498,522
3%
492,373
497,773
420,416
236,065
-
338,607
2%
335,344
267,407
247,735
357,129
484,156*
15,158,135
100%
14,427,148
13,967,263
12,618,533
11,470,514
9,317,322
- $10,675,619
$117,320
$2,204,798
$48,695
$678,732
$442,922
$442,764
$46,343
$436,226
$36,919
$339,892
$282,355
$44,797
$213,662
$212,790
$203,402
$13,360
$186,498
$10,117
$127,730
317,552 16,447,389
Page 101
Schedule 2
Loan Portfolio
Manitoba
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Steinbach
Assiniboine
Cambrian
Crosstown Civic
Access
Westoba
Sunova
SunRise
Entegra
Noventis
Carpathia
Vanguard*
Casera
Niverville
Rosenort
Portage
Swan Valley*
Dauphin Plains
Oakbank*
Starbuck
Winnipeg Police
19
20
16
12
16
Total
Loans
($000's)
$1,460,979
$1,878,295
$1,206,272
$801,109
$508,127
$312,048
$466,494
$157,604
$294,531
$78,374
$143,367
$220,054
$111,226
$110,623
$93,214
$118,986
$68,369
$115,242
8,144,913
$1,103,246
$403,320
$623,884
$432,353
$294,674
$405,173
$175,842
$220,341
$110,980
$108,200
$115,209
$9,933
$53,982
$22,277
$33,553
$16,772
$50,332
$1,031
4,181,102
$283,756
$466,127
$301,036
$110,448
$78,923
$67,319
$100,626
$62,355
$41,612
$125,504
$25,145
$47,275
$10,059
$6,854
$29,221
$32,433
$27,248
$25,553
1,841,495
$372,685
$284,910
$144,561
$25,888
$207,075
$79,995
$10,187
$38,681
$49,832
$19,245
$13,428
1,246,489
$104,812
$54,394
$145,782
$19,306
$6,241
$14,490
$9,095
354,120
$3,220,666
$2,852,554
$2,185,586
$1,343,910
$1,312,417
$929,101
$768,849
$647,375
$447,123
$392,074
$303,028
$294,198
$283,503
$199,945
$187,530
$205,820
$168,539
$187,435
$152,333
$159,378
$141,825
16,383,188
52%
27%
12%
8%
2%
100%
Total 2011
6,600,758
Mix % 2011
52%
Total 2010
6,749,522
Total 2009
6,439,365
Total 2008
5,077,582
Total 2007
3,399,894
Total 2006
2,649,897
3,243,032
25%
3,077,166
2,811,087
2,345,616
1,908,002
1,930,767
1,584,396
12%
1,672,859
1,440,944
1,481,911
1,140,977
1,841,541
964,645
8%
1,164,061
1,149,764
827,353
780,337
0
Mix %
#
20
Loans
Loans
Loans
Loans
Loans
($000's)
($000's)
($000's)
($000's) ($000's)
334,277 14,396,827
3%
100%
428,952 13,092,561
364,422 12,205,582
247,358
9,979,821
152,883
7,982,094
843,301*
7,265,506
Page 102
Schedule 2
Loan Portfolio
Ontario
Loans
Loans
Loans
Loans
Loans
($000's)
($000's)
($000's)
($000's) ($000's)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
Meridian
Alterna Savings
First Ontario
Libro
Kawartha
Windsor Family
Mennonite Savings
Northern
United Communities
Buduchnist
Ukrainian
Hamilton Teachers
PenFinancial
Sudbury
The Police*
Parama Lithuanian*
Prosperity One*
Your
Lambton Financial*
Copperfin
Sydenham Community
Northern Lights
Momentum*
30
31
32
33
34
Education*
Hald-Nor Community
Estonian
4,185,587
1,026,011
973,833
445,775
672,607
490,316
373,325
252,111
525,245
403,906
240,656
373,093
358,382
267,684
164,464
209,401
175,287
181,235
134,422
142,182
120,618
89,496
104,274
88,832
102,042
69,209
58,979
0
70,557
2,362,778
811,989
504,412
404,396
343,730
233,436
345,934
134,480
92,014
127,498
176,701
159,917
132,388
88,118
57,348
43,749
58,284
0
42,810
24,041
49,357
76,616
21,775
44,525
34,947
34,002
32,459
0
2,875
967,863
236,745
143,252
163,272
15,759
140,135
57,547
22,725
31,793
86,946
39,181
10,630
14,986
37,931
42,782
23,062
30,506
19,490
2,950
13,080
7,681
14,081
21,102
23,293
23,689
19,359
29,238
0
60,064
418,953
7,907
329,446
140,850
6,120
30,557
239
-
11,312
3,130
28,669
18,258
-
7,516,228
2,074,745
1,621,497
1,432,396
1,032,096
863,887
784,713
738,762
649,052
618,350
608,700
546,770
505,756
393,733
293,262
282,332
264,076
200,725
180,182
179,302
177,656
180,193
147,151
156,650
160,678
153,126
139,173
115,127
133,497
0
119,367
67,461
66,658
58,789
12,611,803
0
2,248
0
26,134
12,248
6,481,209
0
12,646
32,971
9,180
3,152
2,357,091
1,432
935,503
61,368
143,245
134,261
100,432
103,404
74,189
22,705,346
56%
29%
10%
4%
0%
100%
Total 2011
10,285,262
Mix % 2011
54%
Total 2010
7,775,491
Total 2009
7,795,727
Total 2008
7,296,618
Total 2007
6,360,960
Total 2006
6,482,707
5,732,804
30%
5,000,881
4,745,841
4,544,043
3,538,801
3,231,187
2,220,327
12%
2,018,512
2,128,425
2,092,080
1,991,500
1,996,992
866,756
5%
787,916
839,612
775,863
600,922
0
Mix %
#
36
35
35
32
31
31
Total
Loans
($000's)
36,408 20,751,496
0%
100%
126,118 17,632,869
138,182 16,214,492
131,341 15,200,788
187,126 13,886,990
704,091* 12,952,610
Page 103
Schedule 2
Loan Portfolio
Saskatchewan
Loans
Loans
Loans
Loans
Loans
($000's)
($000's)
($000's)
($000's) ($000's)
Total
Loans
($000's)
1
2
3
4
5
6
7
8
9
10
11
12
Conexus
Affinity
Innovation
Synergy
Cornerstone
Spectra
TCU Financial Group
Prairie Centre
Advantage
Weyburn
Diamond North
Crossroads*
1,288,869
1,578,778
616,788
438,988
387,679
313,753
331,976
109,461
175,501
107,844
203,865
54,740
863,374
108,865
337,064
125,506
142,282
55,341
72,801
130,396
35,561
158,381
69,039
50,048
593,865
334,884
100,705
85,980
92,705
38,539
27,459
131,196
16,766
11,322
12,512
309,699
243,016
72,191
97,222
42,314
39,100
382,066
9,445
153,133
7,605
2,832
16,348
19,521
3,489
2,036
-
3,437,873
2,022,527
1,206,314
890,523
623,546
464,631
443,317
380,886
361,779
328,794
286,262
156,399
13
14
15
16
17
Plainsview*
Unity
Horizon
Biggar & District*
Shaunavon
0
82,279
55,739
0
36,086
5,782,345
0
12,044
44,593
0
28,667
2,233,963
0
28,591
14,461
0
5,780
1,494,764
803,542
17,261
1,272
615,008
129,270
122,913
132,053
100,416
71,804
11,159,308
53%
20%
14%
7%
6%
100%
Total 2011
4,943,013
Mix % 2011
52%
Total 2010
4,382,795
Total 2009
3,655,367
Total 2008
2,956,694
Total 2007
2,101,845
Total 2006
1,938,463
1,905,621
20%
1,702,959
1,996,452
1,441,104
1,723,958
1,528,530
1,397,343
15%
1,394,351
1,536,822
1,230,337
962,151
1,123,963
713,168
8%
446,951
693,967
494,951
191,361
0
548,650
6%
714,886
699,627
689,475
313,680
258,649*
9,507,795
100%
8,641,942
8,582,235
7,144,893
5,293,995
4,891,859
Mix %
#
13
14
15
10
10
11
Schedule 2
Loan Portfolio
Atlantic Provinces
1
2
3
4
5
6
Bayview
East Coast
Bergengren
Eagle River
Total 2012
Mix %
#
4
4
4
4
4
4
Total 2011
Mix % 2011
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
Loans
Loans
Loans
Loans
Loans
($000's)
($000's)
($000's)
($000's) ($000's)
Total
Loans
($000's)
$292,918
$163,474
$133,792
$144,279
$76,901
$35,517
846,881
$25,523
$17,433
$23,193
$26,913
$8,457
$6,566
108,083
$97,720
$77,925
$101,288
$88,590
$66,163
$38,610
470,296
0
$29,108
$9,655
$24,963
63,726
$416,161
$287,939
$267,928
$259,781
$176,484
$80,693
1,488,986
57%
7%
32%
0%
4%
100%
673,666
58%
553,550
515,850
482,914
417,800
330,013
127,303
11%
106,014
98,541
97,738
85,908
74,705
353,794
30%
287,022
284,108
264,670
239,094
191,218
0
0%
0
0
0
0
0
9,140
1%
14,290
11,591
9,750
8,232
0
1,163,904
100%
960,876
910,090
855,071
751,035
595,933
Page 104
Schedule 2
Loan Portfolio
Provincial Comparison
34
13
21
34
17
6
125
Loans
Loans
Loans
Loans
Loans
($000's)
($000's)
($000's)
($000's) ($000's)
British Columbia
Alberta
Manitoba
Ontario
Saskatchewan
Atlantic Provinces
Total 2012
Mix %
Schedule 2
Loan Portfolio
Yearly Trend
#
28,939,913
9,183,502
8,144,913
12,611,803
5,782,345
846,881
65,509,358
9,996,768
4,529,204
4,181,102
6,481,209
2,233,963
108,083
27,530,329
5,795,583
1,720,370
1,841,495
2,357,091
1,494,764
470,296
13,679,599
0
696,761
1,246,489
935,503
803,542
0
3,682,295
57%
24%
12%
3%
Total
Loans
($000's)
2,669,562
48,099,368
317,552
16,447,389
354,120
16,383,188
61,368
22,705,346
615,008
11,159,308
63,726
1,488,986
4,081,336 116,283,584
4%
Loans
Loans
Loans
Loans
Loans
($000's)
($000's)
($000's)
($000's) ($000's)
100%
Total
Loans
($000's)
125 Total 2012
115 Total 2011
65,509,358
57,357,376
27,530,329
23,611,952
13,679,599
12,602,458
3,682,295
3,040,005
4,081,336
3,672,336
116,283,584
104,346,477
115
120
103
95
102
51,175,442
49,356,696
44,419,287
39,990,894
36,640,091
21,431,942
21,241,062
19,806,174
17,107,174
14,919,965
12,581,820
12,217,706
11,651,772
11,093,554
11,688,131
2,891,301
3,181,116
2,518,583
1,808,685
0
3,832,056
3,640,889
3,383,638
2,967,962
0
95,205,069
90,204,175
83,539,232
76,731,654
68,624,994
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
Page 105
Schedule 2
Loan Portfolio
Mix of loans
#
Loans
Loans
Loans
Loans
Loans
($000's)
($000's)
($000's)
($000's) ($000's)
Total
Loans
($000's)
125 Total 2011
115 Total 2011
57.2%
57.2%
24.0%
23.5%
11.9%
12.6%
3.2%
3.0%
3.6%
3.7%
100%
100%
115
120
103
95
102
55.7%
55.1%
54.3%
54.8%
57.9%
23.3%
23.7%
24.2%
23.4%
23.6%
13.7%
13.6%
14.2%
15.2%
18.5%
3.1%
3.5%
3.1%
2.5%
0.0%
4.2%
4.1%
4.1%
4.1%
0.0%
100%
100%
100%
100%
100%
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
Schedule 2
Loan Portfolio
Yearly Growth
#
Loans
Loans
Loans
Loans
Loans
($000's)
($000's)
($000's)
($000's) ($000's)
Total
Loans
($000's)
125 Total 2011
115 Total 2011
14.2%
12.1%
16.6%
10.2%
8.5%
0.2%
21.1%
5.1%
11.1%
-4.2%
11.4%
9.6%
115
120
103
95
102
3.7%
11.1%
11.1%
9.1%
10.8%
0.9%
7.2%
15.8%
14.7%
16.2%
3.0%
4.9%
5.0%
-5.1%
16.9%
-9.1%
26.3%
39.2%
n/a
n/a
5.3%
7.6%
14.0%
n/a
n/a
5.5%
8.0%
8.9%
11.8%
12.0%
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
Page 106
Schedule 2a
Loan Portfolio
British Columbia
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
#
30
31
32
28
26
27
Prospera
Westminster Savings
North Shore
Interior Savings
Coastal Community
Island Savings
Kootenay Savings
Northern Savings
Aldergrove
Integris
Salmon Arm Savings
Community Savings
Sunshine Coast
Lake View
Bulkley Valley
VantageOne
Sharons*
First
Nelson & District
Revelstoke*
Columbia Valley
Osoyoos
Creston & District
Total 2012
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Total
Gross
Loans
($000's)
14,425,661
10,785,236
5,168,579
2,105,626
2,010,153
1,938,746
1,824,029
1,517,381
1,259,713
958,574
802,852
676,992
445,118
453,324
423,732
356,862
327,445
233,268
171,130
206,494
208,218
207,770
193,704
190,510
168,049
175,173
142,697
145,787
110,754
127,872
75,519
114,100
83,443
64,858
48,099,368
44,208,212
40,449,673
38,324,513
37,740,126
37,347,026
33,601,764
Gross
Allowance/ Impaired Impaired/
Allowance
Loans
Loans
Loans
($000's)
%
($000's)
%
78,369
42,507
10,193
5,564
2,397
4,752
4,574
2,423
5,864
3,385
3,133
3,410
1,110
1,454
330
1,457
1,550
1,280
852
1,053
415
531
179
1,112
199
182
690
366
134
241
179,705
181,389
226,335
232,925
211,269
179,266
160,128
0.54%
0.39%
0.20%
0.26%
0.12%
0.25%
0.25%
0.16%
0.47%
0.35%
0.39%
0.50%
0.25%
0.32%
0.08%
0.41%
0.47%
0.75%
0.51%
0.20%
0.28%
0.11%
0.63%
0.14%
0.16%
0.91%
0.32%
0.16%
0.37%
0.38%
0.42%
0.56%
0.61%
0.56%
0.48%
0.49%
20,967
50,541
28,029
4,212
13,720
14,707
26,727
3,809
7,629
5,758
2,979
7,902
1,086
5,380
2,167
5,064
394
4,298
1,375
1,260
575
599
396
691
714
691
211,671
254,379
292,508
296,484
154,867
76,937
77,678
0.15%
0.47%
0.54%
0.20%
0.68%
0.76%
1.47%
0.25%
0.61%
0.60%
0.37%
1.17%
0.24%
1.27%
0.61%
1.55%
0.23%
2.06%
0.66%
0.66%
0.34%
0.34%
0.27%
0.92%
0.63%
0.83%
0.45%
0.59%
0.81%
0.81%
0.48%
0.24%
0.26%
Page 107
Schedule 2a
Loan Portfolio
Alberta
1
2
3
4
5
6
7
8
9
10
11
12
13
#
12
12
14
13
12
13
Servus
Chinook
Battle River
Mountain View
Lakeland
1st Choice Savings
Wainwright
Rocky
Bow Valley
Shell Employees'
Beaumont
Christian
Total 2012
Total
Gross
Loans
($000's)
10,675,619
2,204,798
678,732
442,922
442,764
436,226
339,892
282,355
213,662
212,790
203,402
186,498
127,730
16,447,389
Total 2011
15,158,135
Total 2010
14,427,148
Total 2009
13,967,263
Total 2008
12,618,533
Total 2007
11,470,514
Total 2006
9,317,322
Gross
Allowance
Loans
Loans
Loans
($000's)
%
($000's)
%
36,985
16,752
1,445
798
3,216
2,850
486
1,419
729
726
1,137
66,543
0.35%
0.76%
0.21%
0.18%
0.73%
0.65%
0.14%
0.50%
0.34%
0.34%
0.61%
0.41%
59,396
43,712
43,036
35,968
33,264
25,228
0.40%
0.30%
0.31%
0.29%
0.29%
0.27%
42,994
35,812
2,570
1,312
2,911
1,282
298
1,047
32
2,365
90,622
160,669
174,167
112,075
49,658
29,494
36,639
0.40%
1.62%
0.38%
0.30%
0.67%
0.38%
0.11%
0.49%
0.02%
1.27%
0.58%
1.08%
1.24%
0.82%
0.40%
0.26%
0.39%
Page 108
Schedule 2a
Loan Portfolio
Manitoba
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
#
20
19
20
16
12
16
Steinbach
Assiniboine
Cambrian
Crosstown Civic
Access
Westoba
Sunova
SunRise
Entegra
Noventis
Carpathia
Vanguard*
Casera
Niverville
Rosenort
Portage
Swan Valley*
Dauphin Plains
Oakbank*
Starbuck
Winnipeg Police
Total 2012
Total
Gross
Loans
($000's)
Gross
Allowance
Loans
Loans
Loans
($000's)
%
($000's)
%
3,220,666
2,852,554
2,185,586
1,343,910
1,312,417
929,101
768,849
647,375
447,123
392,074
303,028
294,198
283,503
199,945
187,530
205,820
168,539
187,435
152,333
159,378
141,825
16,383,188
10,282
6,015
1,477
1,695
4,359
2,126
3,408
909
285
1,198
605
218
512
123
697
411
419
322
35,061
0.32%
0.21%
0.07%
0.13%
0.33%
0.23%
0.44%
0.14%
0.06%
0.31%
0.20%
0.08%
0.26%
0.07%
0.34%
0.22%
0.26%
0.23%
0.22%
Total 2011
14,396,827
Total 2010
13,092,561
Total 2009
12,205,582
Total 2008
9,979,821
Total 2007
7,982,094
Total 2006
7,265,506
36,214
58,912
60,497
46,735
43,902
49,793
0.28%
0.45%
0.50%
0.47%
0.55%
0.69%
15,150
5,624
5,186
7,031
10,285
5,962
6,193
1,137
1,039
3,773
5,808
249
2,337
599
2,405
2,757
508
506
76,550
72,874
117,382
170,147
99,919
87,257
99,916
0.47%
0.20%
0.24%
0.52%
0.78%
0.64%
0.81%
0.18%
0.23%
0.96%
1.92%
0.09%
1.17%
0.32%
1.17%
1.47%
0.32%
0.36%
0.49%
0.57%
0.90%
1.39%
1.00%
1.09%
1.41%
Page 109
Schedule 2a
Loan Portfolio
Ontario
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
#
36
35
35
32
31
31
Total
Gross
Loans
($000's)
Gross
Allowance
Loans
Loans
Loans
($000's)
%
($000's)
%
Meridian
7,516,228
Alterna Savings
2,074,745
First Ontario
1,621,497
Libro
1,432,396
1,032,096
Kawartha
863,887
Windsor Family
784,713
Mennonite Savings
738,762
649,052
Northern
618,350
United Communities
608,700
Buduchnist
546,770
Ukrainian
505,756
Hamilton Teachers
393,733
293,262
PenFinancial
282,332
Sudbury
264,076
The Police*
200,725
Parama Lithuanian*
180,182
Prosperity One*
179,302
Your
177,656
180,193
Lambton Financial*
147,151
Copperfin
156,650
160,678
Sydenham Community
153,126
Northern Lights
139,173
Momentum*
115,127
133,497
Education*
143,245
134,261
100,432
Hald-Nor Community
103,404
Estonian
74,189
Total 2012
22,705,346
45,552
1,903
7,825
2,465
1,766
7,003
3,259
1,014
944
2,480
1,294
735
867
1,186
899
874
685
1,374
969
225
988
1,182
120
532
616
516
371
45
432
421
397
88,940
0.61%
0.09%
0.48%
0.17%
0.17%
0.81%
0.42%
0.14%
0.15%
0.40%
0.21%
0.13%
0.17%
0.30%
0.31%
0.31%
0.26%
0.68%
0.54%
0.13%
0.56%
0.66%
0.08%
0.34%
0.38%
0.34%
0.27%
0.03%
0.43%
0.41%
0.54%
0.40%
142,934
837
21,351
2,379
3,254
15,716
6,951
7,065
5,233
893
2,878
5,811
3,279
2,887
1,756
3,114
281
2,735
7,951
2,712
499
240,515
0.18%
1.79%
5.71%
2.62%
0.67%
1.23%
Total 2011
20,751,496
Total 2010
17,632,869
Total 2009
16,214,492
Total 2008
15,200,788
Total 2007
13,886,990
Total 2006
12,952,610
83,098
84,863
83,909
72,222
65,269
56,620
0.44%
0.56%
0.54%
0.48%
0.47%
0.44%
202,645
194,291
176,658
128,354
75,777
75,007
1.07%
1.38%
1.20%
0.91%
0.61%
0.65%
1.90%
0.04%
1.32%
0.17%
0.32%
1.82%
0.94%
1.14%
0.86%
0.16%
0.57%
1.48%
1.12%
1.02%
0.67%
1.75%
Page 110
Schedule 2a
Loan Portfolio
Saskatchewan
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
#
13
14
15
10
10
11
Total
Gross
Loans
($000's)
Conexus
Affinity
Innovation
Synergy
Cornerstone
Spectra
TCU Financial Group
Prairie Centre
Advantage
Weyburn
Diamond North
Crossroads*
Plainsview*
Unity
Horizon
Biggar & District*
Shaunavon
Total 2012
Total 2011
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
3,437,873
2,022,527
1,206,314
890,523
623,546
464,631
443,317
380,886
361,779
328,794
286,262
156,399
129,270
122,913
132,053
100,416
71,804
11,159,308
9,507,795
8,641,942
8,582,235
7,144,893
5,293,995
4,891,859
Gross
Allowance
Loans
Loans
Loans
($000's)
%
($000's)
%
9,075
5,256
6,181
2,115
1,493
1,259
913
568
1,507
167
1,293
101
1,072
215
31,213
31,470
49,211
58,425
50,828
30,705
26,890
0.26%
0.26%
0.51%
0.24%
0.24%
0.27%
0.21%
0.15%
0.42%
0.05%
0.45%
0.08%
0.81%
0.30%
0.29%
13,157
4,830
15,132
12,666
3,450
1,600
475
1,775
921
243
452
101
369
140
55,312
0.38%
0.24%
1.25%
1.42%
0.55%
0.34%
0.11%
0.47%
0.25%
0.07%
0.16%
0.08%
0.28%
0.19%
0.51%
0.34%
0.57%
0.68%
0.71%
0.58%
0.55%
66,677
83,139
86,426
57,206
44,019
35,549
0.71%
0.98%
1.02%
0.84%
0.83%
0.67%
Page 111
Schedule 2a
Loan Portfolio
Atlantic Provinces
1
2
3
4
5
6
Bayview
East Coast
Bergengren
Eagle River
Total 2012
#
4
4
4
4
4
4
Atlantic Provinces
Total 2011
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
Total
Gross
Loans
($000's)
416,161
287,939
267,928
259,781
176,484
80,693
1,488,986
1,163,904
960,876
910,090
855,071
751,035
595,933
Gross
Allowance
Loans
Loans
Loans
($000's)
%
($000's)
%
620
1,510
1,155
1,500
979
282
0.15%
0.52%
0.43%
0.58%
0.55%
0.35%
620
3,902
1,475
4,496
358
0.15%
1.36%
0.57%
2.55%
0.44%
6,046
0.41%
10,851
1.01%
0.37%
0.42%
0.41%
0.40%
0.40%
0.40%
4,295
6,514
4,715
2,844
3,659
2,943
0.37%
0.68%
0.52%
0.44%
0.49%
0.49%
4,334
4,042
3,694
3,398
3,004
2,391
Page 112
Schedule 2a
34
13
21
34
17
6
125
Loan Portfolio
Total
Gross
Loans
($000's)
British Columbia
Alberta
Manitoba
Ontario
Saskatchewan
Atlantic Provinces
Total 2012
48,099,368
16,447,389
16,383,188
22,705,346
11,159,308
1,488,986
116,283,584
Schedule 2a
Loan Portfolio
Yearly Trend
#
Total
Gross
Loans
($000's)
Gross
Allowance
Loans
Loans
Loans
($000's)
%
($000's)
%
179,705
66,543
35,061
88,940
31,213
6,046
407,509
0.38%
0.41%
0.22%
0.40%
0.29%
0.41%
0.36%
211,671
90,622
76,550
240,515
55,312
10,851
685,522
0.45%
0.58%
0.49%
1.23%
0.51%
1.01%
0.63%
Gross
Allowance
Loans
Loans
Loans
($000's)
%
($000's)
%
125 Total 2012
116,283,584
407,509
0.36%
685,522
0.63%
115 Total 2011
105,186,368
395,903
0.39%
761,540
0.76%
95,033,602
90,204,175
83,539,232
76,731,654
68,624,994
466,151
482,486
420,420
355,410
321,050
0.51%
0.53%
0.50%
0.46%
0.47%
865,140
846,426
492,848
317,143
324,730
0.99%
0.98%
0.65%
0.45%
0.51%
115
120
103
95
102
Total
Total
Total
Total
Total
2010
2009
2008
2007
2006
Page 113
Schedule 2b
Loan Portfolio - Insured Mortgages
British Columbia
Insured/
Residential
Insured Mortgage
Mortgages
Mortgages
Loans
($000's)
($000's)
%
1 Westminster Savings
New Westminster
1,074,570
524,574
48.8%
2 Coastal Community
Nanaimo
998,320
352,295
35.3%
Vancouver
664,051
138,692
20.9%
4 Integris
Prince George
273,420
123,664
45.2%
5 Island Savings
Duncan
793,023
117,276
14.8%
6 First
Powell River
143,101
94,003
65.7%
7 Salmon Arm Savings
Salmon Arm
252,948
63,593
25.1%
8 Lake View
Dawson Creek
128,438
53,672
41.8%
9 Community Savings
Surrey
220,519
41,824
19.0%
Grand Forks
101,250
37,289
36.8%
Summerland
83,868
11,025
13.1%
12 Osoyoos
Osoyoos
43,636
3,744
8.6%
13 Creston & District
Creston
44,310
3,560
8.0%
14 VantageOne
Vernon
140,688
654
Total 2012
4,962,142
Schedule 2b
Alberta
Total 2012
0.5%
31.6%
Insured/
Residential
Insured Mortgage
Mortgages
Mortgages
Loans
($000's)
($000's)
%
1 First Calgary Savings
2 Shell Employees'
3 Rocky
1,565,865
Calgary
Calgary
1,280,756
155,192
94,715
285,676
43,454
6,971
22.3%
28.0%
7.4%
1,530,663
336,101
22.0%
Page 114
Schedule 2b
Manitoba
Insured/
Residential
Insured Mortgage
Mortgages
Mortgages
Loans
($000's)
($000's)
%
1 Assiniboine
Winnipeg
1,878,295
882,799
47.0%
2 Cambrian
Winnipeg
1,206,272
390,222
32.3%
3 Crosstown Civic
Winnipeg
801,109
296,154
37.0%
4 Casera
Winnipeg
220,054
78,435
35.6%
5 Portage
Portage La Prairie
93,214
56,155
60.2%
6 Winnipeg Police
Winnipeg
115,242
47,499
41.2%
7 Carpathia
Winnipeg
143,367
46,236
32.3%
8 Noventis
Gimli
78,374
42,803
54.6%
9 Niverville
Niverville
111,226
38,713
34.8%
10 Starbuck
Winnipeg
68,369
8,229
12.0%
11 Rosenort
Rosenort
110,623
7,293
6.6%
Total 2012
4,826,146
Schedule 2b
Ontario
1,894,539
39.3%
Insured/
Residential
Insured Mortgage
Mortgages
Mortgages
Loans
($000's)
($000's)
%
1 Kawartha
Peterborough
490,316
166,246
33.9%
2 Libro
London
445,775
125,651
28.2%
Toronto
672,607
118,128
17.6%
Essex
240,656
67,406
28.0%
5 PenFinancial
Welland
209,401
66,965
32.0%
6 Buduchnist
Toronto
373,093
40,249
10.8%
7 Northern Lights
Thunder Bay
58,979
33,742
57.2%
8 Copperfin
Kenora
88,832
24,639
27.7%
9 Your
Ottawa
120,618
23,882
19.8%
28.2%
Caledonia
66,658
18,799
Strathroy
69,209
18,728
27.1%
704,436
24.8%
Total 2012
2,836,144
Page 115
Schedule 2b
Saskatchewan
Insured/
Residential
Insured Mortgage
Mortgages
Mortgages
Loans
($000's)
($000's)
%
1 Conexus
Regina
1,288,869
711,626
55.2%
2 Affinity
Saskatoon
1,578,778
349,676
22.1%
Saskatoon
331,976
113,770
34.3%
4 Spectra
Estevan
313,753
98,756
31.5%
5 Prairie Centre
Rosetown
109,461
81,758
74.7%
6 Cornerstone
Yorkton
387,679
80,006
20.6%
7 Diamond North
Nipawin
203,865
39,865
19.6%
8 Unity
Unity
82,279
22,396
27.2%
9 Horizon
Melville
55,739
18,747
33.6%
Shaunavon
36,086
1,257
10 Shaunavon
Total 2012
4,388,484
Schedule 2b
Atlantic Provinces
1,517,857
3.5%
34.6%
Insured/
Residential
Insured Mortgage
Mortgages
Mortgages
Loans
($000's)
($000's)
%
1 Newfoundland & Labrador
St. John's
292,918
203,268
69.4%
Halifax
163,474
103,507
63.3%
3 Bayview
St. John
133,792
92,023
68.8%
398,798
67.6%
Total 2010
590,185
Page 116
Schedule 2b
14 British Columbia
Insured/
Residential
Insured Mortgage
Mortgages
Mortgages
Loans
($000's)
($000's)
%
4,962,142
1,565,865
31.6%
1,530,663
336,101
22.0%
11 Manitoba
4,826,146
1,894,539
39.3%
11 Ontario
2,836,144
704,436
24.8%
10 Saskatchewan
4,388,484
1,517,857
34.6%
590,185
398,798
67.6%
19,133,764
6,417,594
33.5%
985,511,141
505,817,335
51.3%
Toronto-Dominion Bank
222,927,490
135,196,826
60.6%
Bank of Nova Scotia
216,115,344
92,943,199
43.0%
Royal Bank of Canada
215,488,732
83,931,734
38.9%
Cdn. Imperial Bank of Commerce
176,692,362
111,739,832
63.2%
Bank of Montreal
105,038,098
50,127,145
47.7%
National Bank of Canada
34,714,476
23,341,541
67.2%
Laurentian Bank of Canada
14,534,639
8,537,058
58.7%
3 Alberta
3 Atlantic Provinces
52 Total 2012
As at October 31, 2012
Total Large Domestic Banks
Page 117
Schedule 3
Deposit Portfolio
British Columbia
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Prospera
Westminster Savings
North Shore
Interior Savings
Coastal Community
Island Savings
Kootenay Savings
Northern Savings
Aldergrove
Integris
Salmon Arm Savings
Community Savings
Sunshine Coast
Lake View
Bulkley Valley
VantageOne
Sharons*
First
Nelson & District
Revelstoke*
Columbia Valley
Osoyoos
Creston & District
Mix of Deposits %
#
30
31
32
28
26
27
Total 2011
Mix of Deposits %
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
Demand
Deposits
($000's)
Term
Registered
Total
Deposits
Savings
Deposits
($000's)
($000's)
($000's)
4,361,330
4,110,316
1,432,256
565,672
670,580
518,065
854,739
965,652
470,464
390,127
354,840
156,010
151,744
207,610
270,655
144,149
143,335
220,997
121,764
108,689
123,166
109,885
75,693
60,152
85,490
106,339
38,122
46,914
52,042
53,237
16,970,035
10,063,516
5,538,357
2,761,223
1,074,297
958,412
1,194,869
510,662
362,942
598,171
391,108
325,349
370,527
252,350
168,482
147,516
181,676
131,798
16,217
92,813
88,681
46,597
59,424
75,541
100,427
51,398
26,737
45,514
47,760
42,184
33,627
25,758,176
1,471,271
770,480
355,386
271,796
246,112
431,494
250,938
159,443
212,550
151,459
171,409
78,188
110,907
64,654
76,403
62,141
32,781
40,423
44,747
47,906
38,412
50,161
29,767
30,242
26,002
26,774
29,052
16,882
13,734
5,311,513
14,424,846
11,119,944
4,963,959
1,995,355
1,900,788
1,959,046
1,796,895
1,579,532
1,228,078
993,785
831,648
697,946
482,282
486,999
482,824
402,228
337,275
289,692
269,995
255,000
242,117
217,669
225,523
207,721
201,395
190,346
182,276
167,130
159,077
151,210
110,410
123,726
111,109
100,598
48,888,426
36%
54%
16%
100%
15,853,715
36%
14,643,003
14,300,645
10,572,682
8,998,227
9,121,735
22,858,529
52%
22,005,458
22,585,220
22,659,926
22,104,675
20,648,583
4,896,115
11%
4,530,464
4,558,589
4,002,050
3,792,900
3,975,905
44,904,683
100%
42,811,643
41,610,065
38,283,163
39,375,364
34,427,716
Registered
Savings/
Deposits %
13.2%
15.5%
17.8%
14.3%
12.6%
24.0%
15.9%
13.0%
21.4%
18.2%
24.6%
16.2%
22.8%
13.4%
19.0%
18.4%
12.1%
18.5%
22.0%
18.5%
24.9%
15.6%
18.1%
16.3%
24.2%
23.5%
15.2%
13.7%
11.1%
11.2%
11.0%
11.0%
10.7%
10.9%
11.8%
Page 118
Schedule 3
Deposit Portfolio
Alberta
1
2
3
4
5
6
7
8
9
10
11
12
13
Servus
Chinook
Battle River
Mountain View
Lakeland
1st Choice Savings
Wainwright
Rocky
Bow Valley
Shell Employees'
Beaumont
Christian
Mix of Deposits %
#
12
12
14
13
12
13
Total 2011
Mix of Deposits %
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
Demand
Deposits
($000's)
Term
Registered
Total
Deposits
Savings
Deposits
($000's)
($000's)
($000's)
5,742,825
676,437
362,933
282,571
316,378
275,185
213,143
148,143
179,949
132,479
59,594
75,604
88,118
8,553,359
3,525,120
1,448,804
314,655
158,797
122,354
133,681
116,922
143,912
66,929
70,327
104,097
91,347
96,386
6,393,330
1,728,942
319,574
53,721
53,646
74,829
49,585
56,655
51,519
28,436
51,734
30,317
32,888
19,145
2,550,989
49%
37%
15%
7,242,033
46%
6,482,345
6,210,149
5,037,669
4,618,365
3,904,762
6,205,411
39%
6,543,226
6,501,103
6,387,321
5,215,192
4,697,911
2,464,475
15%
2,347,897
2,217,200
1,940,132
1,804,112
1,689,384
10,996,887
2,444,815
731,308
498,396
513,560
458,451
386,720
343,574
275,313
254,540
194,009
199,839
203,648
17,501,060
Registered
Savings/
Deposits %
15.7%
13.1%
7.3%
10.8%
14.6%
10.8%
14.7%
15.0%
10.3%
20.3%
15.6%
16.5%
9.4%
14.6%
15,911,919
15.5%
15,373,468
14,928,452
13,365,122
12,059,171
10,292,058
15.3%
14.9%
14.5%
15.5%
16.4%
Page 119
Schedule 3
Deposit Portfolio
Manitoba
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Steinbach
Assiniboine
Cambrian
Crosstown Civic
Access
Westoba
Sunova
SunRise
Entegra
Noventis
Carpathia
Vanguard*
Casera
Niverville
Rosenort
Portage
Swan Valley*
Dauphin Plains
Oakbank*
Starbuck
Winnipeg Police
Mix of Deposits %
Demand
Deposits
($000's)
Term
Registered
Total
Deposits
Savings
Deposits
($000's)
($000's)
($000's)
2,658,913
1,425,153
1,078,228
929,438
669,717
450,989
514,584
320,677
115,244
237,071
109,288
94,183
95,258
106,073
111,171
95,282
82,414
57,360
9,151,044
341,437
1,045,833
843,712
281,100
416,917
414,260
154,774
285,805
288,445
107,931
140,487
124,252
84,243
77,661
68,644
71,527
51,240
31,033
4,829,302
714,646
731,783
638,394
370,235
295,556
212,560
148,817
84,677
48,110
105,199
84,025
70,119
50,229
47,887
46,583
35,575
28,807
57,115
3,770,316
52%
27%
21%
#
20
Total 2011
7,202,180
3,900,016
3,132,564
19
20
16
12
16
Mix of Deposits %
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
51%
7,119,538
6,367,569
5,162,435
4,690,257
4,191,893
27%
4,271,874
4,094,325
3,218,932
2,268,219
2,095,438
22%
3,044,566
2,793,012
2,327,936
1,899,859
1,751,851
Registered
Savings/
Deposits %
3,714,996
3,202,769
2,560,334
1,580,773
1,382,191
1,077,809
818,175
691,159
451,799
450,201
333,800
328,575
288,555
229,729
231,620
226,399
217,445
202,384
179,892
162,461
145,508
18,476,575
19.2%
22.8%
24.9%
23.4%
21.4%
19.7%
18.2%
12.3%
10.6%
23.4%
25.2%
24.3%
21.9%
20.7%
20.6%
17.6%
17.7%
39.3%
21.2%
16,117,012
22.0%
14,435,978
13,254,905
10,709,303
8,900,010
8,039,182
21.1%
21.1%
21.7%
21.4%
21.8%
Page 120
Schedule 3
Deposit Portfolio
Ontario
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Meridian
Alterna Savings
First Ontario
Libro
Kawartha
Windsor Family
Mennonite Savings
Northern
United Communities
Buduchnist
Ukrainian
Hamilton Teachers
PenFinancial
Sudbury
The Police*
Parama Lithuanian*
Prosperity One*
Your
Lambton Financial*
Copperfin
Sydenham Community
Northern Lights
Momentum*
Education*
Hald-Nor Community
Estonian
Mix of Deposits %
#
36
35
35
32
31
31
Total 2011
Mix of Deposits %
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
Demand
Deposits
($000's)
Term
Registered
Total
Deposits
Savings
Deposits
($000's)
($000's)
($000's)
2,575,377
904,219
482,927
672,663
241,999
239,291
286,106
226,804
172,987
316,097
263,742
167,202
176,015
126,826
137,092
93,832
117,591
68,321
106,958
76,009
84,937
55,257
115,280
99,468
35,959
56,552
94,482
62,730
36,171
70,736
66,257
53,629
8,283,518
2,880,750
528,221
392,230
538,183
539,111
326,373
337,440
286,181
202,665
164,088
199,291
309,693
232,630
117,368
82,767
98,954
88,297
75,614
57,662
45,504
29,653
63,597
21,395
34,385
83,506
62,166
23,396
20,913
14,156
25,165
23,640
35,819
7,940,812
1,712,025
720,233
423,975
297,056
373,776
227,434
159,113
211,171
121,657
165,429
155,316
70,822
97,142
92,053
83,483
98,816
90,988
72,453
35,743
61,368
67,389
52,125
46,253
40,034
45,689
44,481
33,210
62,614
40,786
25,165
24,108
10,346
5,762,250
38%
36%
26%
7,785,599
39%
6,101,473
6,047,777
5,420,821
4,443,585
4,343,025
6,874,870
35%
5,654,353
6,048,922
5,830,932
4,971,933
4,505,259
5,240,111
26%
4,428,972
4,419,176
4,062,755
3,629,814
3,667,575
7,168,152
2,152,673
1,299,132
1,507,902
1,154,886
793,098
782,659
724,156
497,309
645,614
618,349
547,718
505,787
336,247
303,342
291,602
296,875
216,387
200,363
182,881
181,979
170,979
182,928
173,887
165,154
163,198
151,088
144,975
146,257
144,602
102,113
121,065
114,005
99,794
22,287,157
Registered
Savings/
Deposits %
23.9%
33.5%
32.6%
19.7%
32.4%
28.7%
20.3%
29.2%
24.5%
25.6%
25.1%
12.9%
19.2%
27.4%
27.5%
33.9%
30.6%
33.5%
17.8%
33.6%
37.0%
30.5%
25.3%
23.0%
27.7%
27.3%
22.0%
0.0%
42.8%
39.9%
20.8%
21.1%
10.4%
26.2%
21,638,859
26.3%
18,692,684
17,238,540
15,636,485
14,355,326
13,087,019
27.4%
26.8%
26.5%
27.8%
29.3%
Page 121
Schedule 3
Deposit Portfolio
Saskatchewan
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
#
13
14
15
10
10
11
Demand
Deposits
($000's)
Term
Registered
Total
Deposits
Savings
Deposits
($000's)
($000's)
($000's)
Conexus
Affinity
Innovation
Synergy
Cornerstone
Spectra
TCU Financial Group
Prairie Centre
Advantage
Weyburn
Diamond North
Crossroads*
Plainsview*
Unity
Horizon
Biggar & District*
Shaunavon
1,996,304
1,049,611
1,077,666
645,320
450,198
483,710
176,342
296,767
251,089
224,005
215,410
90,640
94,785
80,550
7,132,397
1,017,089
1,163,787
217,324
339,155
157,064
86,906
218,790
93,182
88,987
110,248
71,242
52,627
46,893
21,420
3,684,713
502,545
184,707
117,220
89,469
105,629
51,978
70,156
48,167
45,516
19,327
21,778
12,957
1,269,448
Mix of Deposits %
59%
30%
11%
6,129,775
57%
1,746,612
1,960,305
0
191,141
1,295,527
3,455,089
32%
1,204,537
1,420,764
0
376,224
973,929
Total 2011
Mix of Deposits %
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
3,515,938
2,213,398
1,479,698
984,475
724,482
660,085
500,761
441,926
410,232
382,420
332,168
199,692
188,400
162,594
163,455
131,862
114,926
12,606,511
1,106,116 10,882,040
10%
530,077 10,137,838
613,637 10,068,585
0
8,184,509
133,155
6,167,816
456,446
5,451,306
Registered
Savings/
Deposits %
14.3%
12.5%
16.2%
13.6%
21.1%
11.8%
17.1%
12.6%
13.7%
11.9%
13.3%
11.3%
10.5%
14.4%
15.2%
15.4%
n/a
19.0%
16.7%
Page 122
Schedule 3
Deposit Portfolio
Atlantic Provinces
1
2
3
4
5
6
East Coast
Bayview
Bergengren
Eagle River
Mix of Deposits %
#
4
4
4
4
4
4
Total 2011
Mix of Deposits %
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
Demand
Deposits
($000's)
186,566
195,332
115,833
134,409
120,532
56,727
809,400
118,971
126,768
102,794
169,080
37,801
17,364
572,778
154,207
88,559
27,275
18,450
288,491
51%
36%
18%
590,129
45%
435,704
401,143
343,355
286,905
225,911
492,634
38%
397,709
392,284
363,349
342,788
291,183
221,400
17%
222,240
212,348
182,744
169,867
145,651
Schedule 3
Deposit Portfolio
34
13
21
34
17
6
125
Term
Registered
Total
Deposits
Savings
Deposits
($000's)
($000's)
($000's)
Registered
Savings/
Deposits %
459,744
322,100
307,187
303,489
185,608
92,540
1,670,668
33.5%
28.8%
14.7%
19.9%
17.3%
1,304,164
17.0%
1,055,653
1,006,775
889,448
810,779
662,746
21.1%
21.1%
20.5%
21.2%
22.0%
Demand
Deposits
($000's)
Term
Registered
Total
Deposits
Savings
Deposits
($000's)
($000's)
($000's)
British Columbia
Alberta
Manitoba
Ontario
Saskatchewan
Atlantic Provinces
Total 2012
16,970,035
8,553,359
9,151,044
8,283,518
7,132,397
809,400
50,899,752
25,758,176
6,393,330
4,829,302
7,940,812
3,684,713
572,778
49,179,111
Mix of Deposits %
43%
41%
Registered
Savings/
Deposits %
5,311,513
48,888,426
2,550,989
17,501,060
3,770,316
18,476,575
5,762,250
22,287,157
1,269,448
12,606,511
288,491
1,670,668
18,953,008 121,430,397
11.1%
14.6%
21.2%
26.2%
10.5%
17.3%
15.9%
16%
18.1% excluding Vancity
Page 123
Schedule 3
Deposit Portfolio
Yearly Trend
Demand
Deposits
($000's)
Term
Registered
Total
Deposits
Savings
Deposits
($000's)
($000's)
($000's)
125 Total 2012
50,899,752
49,179,111
18,953,008
121,430,397
15.9%
115
115
120
103
95
102
44,803,431
36,528,676
35,287,588
26,536,962
23,228,480
23,082,853
43,786,550
40,077,156
41,042,618
38,460,460
35,279,031
33,212,303
17,060,781
15,104,216
14,813,962
12,515,617
11,429,707
11,686,812
110,758,678
102,507,263
98,107,322
87,068,030
81,668,466
71,960,027
16.1%
16.5%
16.3%
16.1%
16.3%
17.2%
#
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Schedule 3
Deposit Portfolio
Yearly Growth
#
125
115
115
120
103
95
102
Total
Total
Total
Total
Total
Total
Total
2012
2011
2010
2009
2008
2007
2006
Registered
Savings/
Deposits %
Demand
Deposits
($000's)
13.6%
22.7%
3.5%
33.0%
14.2%
0.6%
8.6%
Term
Registered
Total
Deposits
Savings
Deposits
($000's)
($000's)
($000's)
12.3%
9.3%
-2.4%
6.7%
9.0%
6.2%
3.0%
11.1%
13.0%
2.0%
18.4%
9.5%
-2.2%
-3.5%
9.6%
8.0%
4.5%
12.7%
6.6%
13.5%
10.7%
Page 124
Schedule 3a
Borrowings
British Columbia
2012
2011
Borrowings Borrowings Chng
($000's)
($000's)
%
Deposits
($000's)
Borrowings
as a % of
Deposits
1
1,230,205
1,640,553
-25%
14,424,846
8.5%
2
616,720
725,673
-15%
11,119,944
5.5%
3
463,848
310,000
50%
4,963,959
9.3%
4
Prospera
89,959
69,924
29%
1,995,355
4.5%
5
North Shore
64,985
114,943
-43%
1,959,046
3.3%
6
Westminster Savings
57,764
137,809
-58%
1,900,788
3.0%
7
Interior Savings
71,870
40,000
80%
1,796,895
4.0%
8
Coastal Community
1,984
-
-
1,579,532
0.1%
9
Island Savings
30,000
73,719
-59%
1,228,078
2.4%
-
1,196
11 Kootenay Savings
-
12 Northern Savings
n/a
993,785
-
84,724
-
831,648
-
-
-
-
697,946
-
13 Integris
-
-
-
486,999
-
14 Salmon Arm Savings
-
-
-
482,824
-
15 Aldergrove
-
-
-
482,282
-
16 Community Savings*
-
-
-
405,009
-
17 Sunshine Coast
-
-
-
337,275
-
18 North Peace Savings*
-
-
-
289,692
-
19 Bulkley Valley*
-
-
-
255,008
-
20 VantageOne
-
-
-
242,117
-
21 Sharons*
-
-
-
225,523
-
3,500
-
-
217,669
1.6%
23 First
-
8,000
-
207,721
-
-
-
-
201,395
-
25 Greater Vancouver Community
-
-
-
190,346
-
26 Williams Lake and District*
-
-
-
182,276
-
-
-
-
167,130
-
28 Nelson & District
-
-
-
159,077
-
29 Revelstoke*
-
-
-
151,210
-
30 Ladysmith & District
-
-
-
123,726
-
31 Osoyoos
-
-
-
111,109
-
32 Columbia Valley
-
-
-
110,410
-
33 Creston & District
-
-
-
100,598
2,630,835
3,206,541
22 East Kootenay Community
-18%
48,621,220
6.4%
Page 125
Schedule 3a
Borrowings
Alberta
2012
2011
($000's)
($000's)
%
Deposits
($000's)
Borrowings
as a % of
Deposits
1
Servus
-
-
-
10,996,887
-
2
-
-
-
2,444,815
-
3
Chinook
-
-
-
731,308
-
4
Battle River*
-
-
-
498,396
-
5
Mountain View
-
-
-
513,560
-
6
Lakeland
-
-
-
458,451
-
7
1st Choice Savings
-
-
-
386,720
-
8
Wainwright
-
-
-
343,574
-
9
Rocky
-
-
-
275,313
-
10 Bow Valley
-
-
-
254,540
-
11 Shell Employees'
-
-
-
194,009
-
12 Beaumont
-
-
-
199,839
-
13 Christian
-
-
-
203,648
0
0
-
Schedule 3a
Borrowings
Saskatchewan
17,501,060
0.0%
2012
2011
($000's)
($000's)
%
1
Conexus
2
Affinity
-
-
4,370
713
3
Innovation
4
Synergy
5
Cornerstone
-
-
6
Spectra
-
-
7
TCU Financial Group
-
8
Prairie Centre
9
Advantage
-
-
Borrowings
as a % of
Deposits
-
3,515,938
-
513%
2,213,398
0.2%
-
1,479,698
1.0%
-
724,482
-
-
660,085
-
9,908
-
500,761
-
-
-
-
441,926
-
2,216
-
-
410,232
0.5%
10 Weyburn
-
-
-
382,420
-
11 Diamond North
-
-
-
332,168
-
12 Crossroads*
-
-
-
199,692
-
13 Horizon
-
-
-
163,455
-
14 Unity
-
-
-
162,594
-
47
-
-
131,862
0.0%
16 Shaunavon
71 14087%
-
984,475
15 Biggar & District*
10,061
Deposits
($000's)
436
-
17,129
10,692
60%
114,926
12,418,111
0.4%
0.5%
Page 126
Schedule 3a
Borrowings
Manitoba
2012
2011
($000's)
($000's)
%
Deposits
($000's)
Borrowings
as a % of
Deposits
1
Steinbach
-
-
-
3,714,996
2
Assiniboine
-
-
-
3,202,769
-
3
Cambrian
4,156
4,324
-4%
2,560,334
0.2%
4
Crosstown Civic
-
1,238
-
1,580,773
-
5
Access
-
-
-
1,382,191
-
6
Westoba
-
-
-
1,077,809
7
Sunova
18,002
-
-
818,175
8
SunRise
-
-
-
691,159
-
9
Entegra
11,192
-
-
451,799
2.5%
10 Carpathia
-
-
-
333,800
-
11 Vanguard*
-
-
-
328,575
-
5,553
1,398
297%
288,555
1.9%
13 Rosenort*
-
-
-
234,766
-
14 Niverville
-
-
-
229,729
-
15 Portage
-
-
-
226,399
-
16 Swan Valley*
-
-
-
217,445
-
17 Dauphin Plains*
-
-
-
204,024
-
18 Oakbank*
-
-
-
179,892
-
19 Starbuck
-
-
-
162,461
-
20 Winnipeg Police
-
5,361
-
145,508
38,902
12,322
12 Casera
216%
18,031,159
-
2.2%
0.9%
Page 127
Schedule 3a
Borrowings
Ontario
2012
2011
($000's)
($000's)
%
1
Meridian
2
Alterna Savings
3
Libro
4
First Ontario
5
-
-
6
Kawartha
39,000
25,000
7
Windsor Family*
51,185
8
Mennonite Savings
21,921
9
Northern
Deposits
($000's)
Borrowings
as a % of
Deposits
1,761
1,990
-12%
7,168,152
0.0%
15,000
46,136
-67%
2,152,673
0.7%
-
-
-
1,507,902
-
56,000
11,000
409%
1,299,132
4.3%
-
1,154,886
-
56%
793,098
4.9%
-
-
786,402
6.5%
-
-
724,156
3.0%
10,000
-
-
645,614
1.5%
32,441
-
-
618,349
5.2%
11 Buduchnist
15,204
-
-
547,718
2.8%
12 Ukrainian
20,820
5,001
316%
505,787
4.1%
-
-
-
497,309
-
4,500
20,765
-78%
336,247
1.3%
11,000
20,500
-46%
303,342
3.6%
-
-
-
296,875
-
17 PenFinancial
9,000
-
-
291,602
3.1%
18 The Police*
-
-
-
216,387
-
-
-
-
182,928
-
20 Prosperity One*
7,500
4,000
88%
182,881
4.1%
21 Your
13 Your Neighbourhood *
14 Hamilton Teachers
15 Community First (formerly ASCU)
16 Sudbury
8,000
3,000
167%
181,979
4.4%
22 Copperfin
-
-
-
173,887
-
-
-
-
170,979
-
-
-
-
165,154
-
-
-
-
163,198
-
3,500
3,500
0%
144,602
2.4%
27 Ontario Civil Service*
-
-
-
121,065
-
-
-
-
114,005
-
11,000
0
n/a
102,113
10.8%
26 Education*
30 Estonian
-
-
317,832
140,892
126%
99,794
21,648,217
1.9%
Page 128
Schedule 3a
Borrowings
Atlantic Provinces
2012
2011
($000's)
($000's)
%
1
2
East Coast
-
-
3,150
2,854
3
Bayview
-
-
4
2,350
2,350
5
Bergengren
2,850
6
Eagle River*
8,350
5,204
Schedule 3a
Borrowings
13 Alberta
20 Manitoba
30 Ontario
16 Saskatchewan
6
Atlantic Provinces
118 Totals
Borrowings
as a % of
Deposits
-
459,744
-
10%
322,100
1.0%
-
307,187
-
0%
303,489
0.8%
-
-
185,608
1.5%
-
-
94,947
60%
1,673,075
1.0%
2012
2011
($000's)
($000's)
%
33 British Columbia
Deposits
($000's)
2,630,835
3,206,541
-
-
38,902
Deposits
($000's)
Borrowings
as a % of
Deposits
-18%
48,621,220
-
17,501,060
-
12,322
216%
18,031,159
0.9%
317,832
140,892
126%
21,648,217
1.9%
17,129
10,692
60%
12,418,111
0.5%
8,350
5,204
60%
1,673,075
3,013,049
3,375,651
-11%
119,892,843
6.4%
1.0%
4.5%
Page 129
Schedule 4
Operating results
British Columbia
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
As a % of Average Assets
Net
Interest Other Operating Operating
Margin Income Income Expenses
Location
Prospera
Westminster Savings
North Shore
Interior Savings
Coastal Community
Island Savings
Kootenay Savings
Northern Savings
Aldergrove
Integris
Salmon Arm Savings
Community Savings
Sunshine Coast
Lake View
Bulkley Valley*
VantageOne
Sharons*
First
Nelson & District
Revelstoke*
Columbia Valley
Osoyoos
Creston & District
Total 2012
Vancouver
Surrey
Langley
Abbotsford
New Westminster
North Vancouver
Kelona
Nanaimo
Duncan
Vancouver
Trail
Prince Rupert
Aldergrove
Prince George
Salmon Arm
Surrey
Gibsons
Fort St. John
Dawson Creek
Smithers
Vernon
Cranbrook
Vancouver
Powell River
Grand Forks
Burnaby
Williams Lake
Summerland
Nelson
Revelstoke
Golden
Ladysmith
Osoyoos
Creston
125 largest credit unions - weighted average
#
30
31
32
28
26
27
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
2.18%
1.92%
2.18%
2.28%
2.90%
2.13%
2.67%
2.69%
2.63%
2.37%
2.47%
1.76%
2.11%
2.98%
2.81%
2.33%
2.86%
2.88%
3.09%
3.10%
2.84%
2.86%
1.95%
2.16%
2.93%
2.64%
2.85%
2.64%
2.73%
2.13%
1.90%
2.13%
2.02%
2.24%
2.25%
0.43%
0.74%
1.29%
0.52%
0.44%
0.58%
1.20%
1.70%
1.02%
0.67%
1.04%
0.96%
0.78%
1.26%
0.86%
0.34%
0.69%
1.40%
0.67%
1.26%
1.19%
0.84%
0.64%
3.88%
0.53%
0.35%
0.97%
0.94%
0.95%
0.71%
0.49%
1.17%
0.42%
1.06%
0.76%
2.60%
2.65%
3.47%
2.80%
3.34%
2.72%
3.87%
4.39%
3.65%
3.05%
3.52%
2.72%
2.89%
4.25%
3.66%
2.67%
3.55%
4.28%
3.76%
4.37%
4.03%
3.70%
2.59%
6.04%
3.46%
3.00%
3.82%
3.59%
3.68%
2.84%
2.39%
3.29%
2.44%
3.30%
3.00%
2.04%
1.88%
2.85%
2.30%
2.54%
2.27%
3.04%
3.81%
3.04%
2.45%
2.89%
2.34%
2.37%
3.81%
2.79%
2.62%
2.75%
3.73%
3.37%
3.37%
3.57%
3.26%
1.84%
5.04%
2.65%
2.44%
3.60%
2.66%
3.66%
2.50%
1.96%
2.80%
2.00%
2.25%
2.38%
2.36%
0.74%
3.10%
2.37%
2.47%
2.56%
2.28%
2.40%
2.42%
2.52%
0.90%
0.95%
1.00%
0.97%
0.95%
0.96%
3.36%
3.51%
3.28%
3.37%
3.37%
3.54%
2.53%
2.59%
2.53%
2.61%
2.67%
2.78%
Page 130
Schedule 4
Operating results
Alberta
1
2
3
4
5
6
7
8
9
10
11
12
13
Net
Location
Servus
Chinook
Battle River
Mountain View
Lakeland
1st Choice Savings
Wainwright
Rocky
Bow Valley
Shell Employees'
Beaumont
Christian
Total 2012
Edmonton
Calgary
Brooks
Camrose
Olds
Bonnyville
Leithbridge
Wainwright
Cochrane
Calgary
Beaumont
Edmonton
#
12
12
14
13
12
13
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
2.72%
2.59%
2.49%
3.35%
2.46%
2.93%
2.42%
2.57%
2.09%
2.27%
1.26%
1.89%
1.90%
2.64%
0.78%
0.49%
0.68%
0.62%
0.53%
0.58%
0.76%
0.53%
0.55%
0.63%
0.13%
0.51%
0.43%
0.69%
3.49%
3.08%
3.17%
3.97%
2.99%
3.51%
3.18%
3.10%
2.64%
2.90%
1.38%
2.40%
2.33%
3.33%
2.50%
2.52%
2.71%
1.97%
2.36%
1.80%
2.82%
2.38%
1.81%
2.52%
1.06%
1.92%
1.78%
2.43%
2.36%
0.74%
3.10%
2.37%
2.69%
2.69%
2.62%
3.02%
3.04%
3.04%
0.66%
0.65%
0.70%
0.80%
0.82%
0.88%
3.35%
3.34%
3.32%
3.82%
3.86%
3.91%
2.52%
2.45%
2.39%
2.62%
2.61%
2.65%
Page 131
Schedule 4
Operating results
Manitoba
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Net
Location
Steinbach
Assiniboine
Cambrian
Crosstown Civic
Access
Westoba
Sunova
SunRise
Entegra
Noventis
Carpathia
Vanguard*
Casera
Niverville
Rosenort
Portage
Swan Valley*
Dauphin Plains
Oakbank*
Starbuck
Winnipeg Police
Total 2012
Steinbach
Winnipeg
Winnipeg
Winnipeg
Winnipeg
Brandon
Selkirk
Treherne
Winnipeg
Gimli
Winnipeg
Rossburn
Winnipeg
Niverville
Rosenort
Portage La Prairie
Swan River
Dauphin
Oak Bank
Winnipeg
Winnipeg
#
20
19
20
16
12
16
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
1.56%
1.81%
1.35%
1.42%
1.84%
2.23%
2.03%
2.46%
1.76%
2.04%
1.95%
2.61%
1.66%
1.78%
1.50%
2.54%
2.39%
2.65%
1.75%
1.84%
1.61%
1.76%
0.48%
0.81%
0.70%
0.26%
0.50%
0.65%
0.76%
1.41%
0.63%
0.74%
0.42%
0.85%
0.85%
0.45%
0.21%
0.67%
0.94%
0.67%
0.60%
0.28%
0.44%
0.63%
2.04%
2.61%
2.05%
1.69%
2.34%
2.87%
2.79%
3.87%
2.39%
2.77%
2.38%
3.46%
2.51%
2.22%
1.71%
3.21%
3.32%
3.32%
2.35%
2.12%
2.05%
2.40%
1.23%
2.04%
1.09%
0.79%
1.69%
2.28%
2.17%
3.28%
1.72%
2.19%
1.50%
2.65%
1.93%
1.73%
1.16%
2.41%
2.76%
2.47%
2.06%
1.65%
1.56%
1.68%
2.36%
0.74%
3.10%
2.37%
1.85%
1.90%
1.76%
2.15%
2.21%
2.35%
0.71%
0.73%
0.74%
0.71%
0.78%
0.78%
2.55%
2.63%
2.51%
2.87%
2.99%
3.13%
1.76%
1.82%
1.78%
1.92%
1.98%
2.07%
Page 132
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
#
36
35
35
32
31
31
Schedule 4
Operating results
Ontario
Location
Net
Meridian
St. Catharines
Alterna Savings
Ottawa
First Ontario
Hamilton
Libro
London
Toronto
Kawartha
Peterborough
Windsor Family
Windsor
Mennonite Savings
Kitchener
Waterloo
Northern
Sault Ste. Marie
United Communities
Essex
Buduchnist
Toronto
Ukrainian
Toronto
Hamilton Teachers
Hamilton
Community First (formerly ASCU)Sault Ste. Marie
PenFinancial
Welland
Sudbury
Sudbury
The Police*
Toronto
Parama Lithuanian*
Toronto
Prosperity One*
Milton
Your
Ottawa
Windsor
Lambton Financial*
Sarnia
Copperfin
Kenora
Toronto
Sydenham Community
Strathroy
Northern Lights
Thunder Bay
Momentum*
Hamilton
Hamilton
Education*
Kitchener
Barrie
Toronto
Hald-Nor Community
Caledonia
Estonian
Toronto
Total 2012
2.10%
2.71%
2.51%
2.47%
2.33%
3.79%
2.54%
2.25%
2.26%
3.50%
2.66%
2.17%
2.24%
2.47%
2.53%
2.66%
3.39%
2.35%
1.69%
2.76%
2.93%
3.35%
2.99%
3.39%
3.00%
2.60%
4.05%
2.57%
2.92%
2.21%
2.39%
3.13%
2.93%
1.78%
2.47%
0.52%
0.47%
1.15%
0.65%
0.38%
1.02%
0.49%
0.50%
0.54%
1.34%
0.79%
0.24%
0.26%
0.63%
0.93%
0.53%
0.67%
0.62%
0.15%
0.56%
0.74%
0.59%
0.64%
1.19%
0.61%
0.63%
1.44%
0.37%
1.00%
0.44%
0.28%
1.49%
0.76%
0.15%
0.62%
2.62%
3.18%
3.66%
3.12%
2.71%
4.81%
3.03%
2.76%
2.79%
4.84%
3.45%
2.41%
2.50%
3.10%
3.46%
3.19%
4.06%
2.97%
1.85%
3.31%
3.68%
3.94%
3.63%
4.58%
3.60%
3.23%
5.49%
2.93%
3.92%
2.66%
2.67%
4.62%
3.69%
1.93%
3.09%
1.87%
2.80%
2.47%
2.21%
1.67%
3.55%
2.23%
2.24%
2.28%
4.30%
3.08%
1.66%
2.21%
2.87%
3.24%
2.87%
2.89%
2.94%
1.37%
3.33%
3.34%
3.38%
3.08%
3.68%
3.09%
2.55%
5.04%
2.85%
3.62%
2.35%
2.19%
4.38%
3.05%
1.34%
2.40%
2.36%
0.74%
3.10%
2.37%
2.84%
2.66%
2.53%
2.78%
2.99%
3.20%
0.79%
0.71%
0.89%
0.98%
0.80%
0.90%
3.63%
3.38%
3.43%
3.75%
3.78%
4.10%
2.82%
2.66%
2.68%
2.89%
3.04%
3.33%
Ontario
Total 2011
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
Page 133
Schedule 4
Operating results
Saskatchewan
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Net
Location
Conexus
Affinity
Innovation
Synergy
Cornerstone
Spectra
TCU Financial Group
Prairie Centre
Advantage
Weyburn
Diamond North
Crossroads*
Plainsview*
Unity
Horizon
Biggar & District*
Shaunavon
Total 2012
Regina
Saskatoon
North Battleford
Lloydminster
Yorkton
Estevan
Saskatoon
Rosetown
Melfort
Weyburn
Nipawin
Canora
Kipling
Unity
Melville
Biggar
Shaunavon
#
13
15
15
10
10
11
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
2.91%
2.91%
3.01%
2.91%
2.97%
2.69%
2.63%
2.73%
3.41%
2.69%
2.97%
2.80%
2.85%
2.91%
3.20%
2.88%
2.61%
2.91%
1.14%
1.25%
1.17%
0.64%
0.88%
0.82%
0.64%
0.76%
1.01%
0.70%
0.75%
0.74%
1.15%
0.53%
0.70%
1.52%
0.43%
1.01%
4.05%
4.16%
4.18%
3.55%
3.85%
3.51%
3.27%
3.50%
4.42%
3.40%
3.73%
3.54%
4.00%
3.44%
3.89%
4.40%
3.04%
3.92%
2.83%
3.07%
3.13%
2.56%
3.12%
2.97%
2.41%
2.72%
4.11%
2.43%
2.97%
2.78%
3.31%
2.46%
3.14%
3.10%
2.41%
2.92%
2.36%
0.74%
3.10%
2.37%
3.01%
3.05%
2.77%
3.52%
3.62%
3.69%
1.04%
1.45%
1.49%
1.64%
1.59%
1.57%
4.05%
4.50%
4.26%
5.17%
5.22%
5.27%
3.17%
3.44%
3.51%
3.90%
3.88%
4.00%
Page 134
Schedule 4
Operating results
Atlantic Provinces
1
2
3
4
5
6
Net
Location
East Coast
Bayview
Bergengren
Eagle River
Total 2012
St. John's
Darmouth
Halifax
St. John
Antigonish
L'Anse au Loop
#
4
4
4
4
4
4
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
3.05%
3.21%
3.30%
3.07%
3.66%
4.17%
3.34%
0.79%
1.55%
1.17%
1.35%
1.03%
2.06%
1.36%
3.85%
4.76%
4.47%
4.43%
4.69%
6.23%
4.70%
3.44%
4.22%
3.75%
3.62%
3.72%
5.41%
3.97%
2.36%
0.74%
3.10%
2.37%
3.50%
3.37%
3.35%
3.49%
3.70%
3.71%
1.20%
1.15%
1.20%
1.27%
1.27%
1.32%
4.70%
4.53%
4.55%
4.76%
4.97%
5.03%
3.81%
3.79%
3.88%
4.17%
4.29%
4.47%
Schedule 4
Operating results
British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Atlantic Provinces
Total 2012
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Number
Net
34
13
17
21
34
6
125
2.25%
2.64%
2.91%
1.76%
2.47%
3.34%
2.36%
0.76%
0.69%
1.01%
0.63%
0.62%
1.36%
0.74%
3.00%
3.33%
3.92%
2.40%
3.09%
4.70%
3.10%
2.38%
2.43%
2.92%
1.68%
2.40%
3.97%
2.37%
115
115
120
98
98
101
2.54%
2.57%
2.37%
2.62%
2.69%
2.78%
0.85%
0.88%
0.95%
0.97%
0.94%
0.96%
3.39%
3.45%
3.32%
3.58%
3.63%
3.74%
2.55%
2.57%
2.55%
2.67%
2.76%
2.85%
Page 135
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Schedule 4a
Operating results
British Columbia
Location
Prospera
Westminster Savings
North Shore
Interior Savings
Coastal Community
Island Savings
Kootenay Savings
Northern Savings
Aldergrove
Integris
Salmon Arm Savings
Community Savings
Sunshine Coast
Lake View
Bulkley Valley*
VantageOne
Sharons*
First
Nelson & District
Revelstoke*
Columbia Valley
Osoyoos
Creston & District
Total 2012
Vancouver
Surrey
Langley
Abbotsford
New Westminster
North Vancouver
Kelona
Nanaimo
Duncan
Vancouver
Trail
Prince Rupert
Aldergrove
Prince George
Salmon Arm
Surrey
Gibsons
Fort St. John
Dawson Creek
Smithers
Vernon
Cranbrook
Vancouver
Powell River
Grand Forks
Burnaby
Williams Lake
Summerland
Nelson
Revelstoke
Golden
Ladysmith
Osoyoos
Creston
Net
Loan
Income
Income
Loss
taxes
before losses Provision
#
30
31
32
28
26
27
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
ROA
%
0.56%
0.77%
0.62%
0.50%
0.80%
0.44%
0.83%
0.57%
0.61%
0.60%
0.63%
0.39%
0.52%
0.43%
0.87%
0.05%
0.80%
0.55%
0.39%
1.00%
0.46%
0.44%
0.75%
1.00%
0.81%
0.55%
0.21%
0.93%
0.02%
0.34%
0.43%
0.50%
0.44%
1.05%
0.63%
0.05%
0.07%
0.07%
0.07%
0.05%
0.01%
0.16%
0.09%
0.05%
0.03%
0.14%
0.12%
0.02%
0.02%
0.06%
0.11%
0.05%
0.10%
0.05%
0.07%
0.22%
0.13%
0.12%
0.06%
0.08%
0.13%
0.04%
0.00%
0.04%
0.00%
0.11%
0.13%
0.03%
0.02%
0.07%
0.11%
0.11%
0.09%
0.03%
0.09%
0.07%
0.13%
0.07%
0.12%
0.07%
-0.01%
0.02%
0.01%
0.05%
0.06%
-0.02%
0.15%
0.15%
0.04%
0.14%
0.00%
0.04%
0.04%
0.16%
0.08%
0.05%
0.05%
0.11%
-0.03%
0.01%
0.03%
0.05%
0.03%
0.06%
0.09%
0.40%
0.59%
0.47%
0.40%
0.66%
0.36%
0.55%
0.41%
0.43%
0.50%
0.50%
0.24%
0.48%
0.36%
0.76%
-0.04%
0.61%
0.30%
0.29%
0.79%
0.23%
0.27%
0.60%
0.79%
0.65%
0.37%
0.13%
0.82%
0.01%
0.33%
0.29%
0.32%
0.38%
0.97%
0.47%
0.73%
0.08%
0.09%
0.55%
0.83%
0.92%
0.75%
0.77%
0.70%
0.76%
0.09%
0.12%
0.13%
0.15%
0.09%
0.08%
0.11%
0.17%
0.09%
0.11%
0.10%
0.11%
0.63%
0.63%
0.52%
0.50%
0.51%
0.57%
Page 136
1
2
3
4
5
6
7
8
9
10
11
12
13
Schedule 4a
Operating results
Alberta
Location
Servus
Chinook
Battle River
Mountain View
Lakeland
1st Choice Savings
Wainwright
Rocky
Bow Valley
Shell Employees'
Beaumont
Christian
Weighted Average
Edmonton
Calgary
Brooks
Camrose
Olds
Bonnyville
Leithbridge
Wainwright
Cochrane
Calgary
Beaumont
Edmonton
Net
Loan
Income
Income
Loss
taxes
#
12
12
14
13
12
13
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
ROA
%
0.99%
0.55%
0.45%
2.00%
0.63%
1.71%
0.37%
0.72%
0.82%
0.38%
0.32%
0.47%
0.56%
0.90%
0.07%
0.15%
0.00%
0.02%
0.06%
-0.01%
-0.05%
0.00%
0.07%
0.04%
-0.01%
0.10%
0.00%
0.07%
0.16%
0.06%
0.10%
0.16%
0.11%
0.28%
0.06%
0.13%
0.13%
0.06%
0.02%
0.05%
0.03%
0.13%
0.77%
0.34%
0.36%
1.83%
0.46%
1.44%
0.35%
0.59%
0.62%
0.27%
0.31%
0.32%
0.53%
0.70%
0.73%
0.08%
0.09%
0.55%
0.84%
0.88%
0.93%
1.21%
1.25%
1.26%
0.15%
0.10%
0.08%
0.06%
0.09%
0.06%
0.10%
0.12%
0.14%
0.20%
0.21%
0.24%
0.58%
0.67%
0.72%
0.95%
0.95%
0.97%
Page 137
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Schedule 4a
Operating results
Manitoba
Location
Steinbach
Assiniboine
Cambrian
Crosstown Civic
Access
Westoba
Sunova
Sunrise
Entegra
Noventis
Carpathia
Vanguard*
Casera
Niverville
Rosenort
Portage
Swan Valley*
Dauphin Plains
Oakbank*
Starbuck
Winnipeg Police
Weighted Average
Steinbach
Winnipeg
Winnipeg
Winnipeg
Winnipeg
Brandon
Selkirk
Treherne
Winnipeg
Gimli
Winnipeg
Rossburn
Winnipeg
Niverville
Rosenort
Portage La Prairie
Swan River
Dauphin
Oak Bank
Winnipeg
Winnipeg
Net
Loan
Income
Income
Loss
taxes
#
20
19
20
16
12
16
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
ROA
%
0.81%
0.57%
0.96%
0.90%
0.65%
0.59%
0.62%
0.59%
0.67%
0.59%
0.88%
0.81%
0.58%
0.50%
0.55%
0.81%
0.57%
0.85%
0.30%
0.47%
0.49%
0.72%
0.05%
0.06%
0.00%
-0.02%
-0.11%
0.03%
0.15%
0.03%
0.01%
0.01%
0.10%
0.03%
0.01%
0.14%
0.00%
0.00%
0.00%
0.00%
0.01%
0.00%
0.06%
0.03%
0.09%
0.07%
0.09%
0.09%
0.13%
0.07%
0.06%
0.10%
0.07%
0.06%
0.08%
0.08%
0.07%
0.04%
0.06%
0.09%
0.06%
0.10%
0.03%
0.05%
0.04%
0.08%
0.67%
0.44%
0.87%
0.82%
0.63%
0.50%
0.41%
0.47%
0.59%
0.52%
0.70%
0.70%
0.50%
0.32%
0.48%
0.72%
0.51%
0.75%
0.26%
0.41%
0.39%
0.61%
0.73%
0.08%
0.09%
0.55%
0.79%
0.81%
0.73%
0.95%
1.01%
1.06%
0.01%
0.06%
0.10%
0.05%
0.08%
0.10%
0.10%
0.09%
0.07%
0.13%
0.14%
0.16%
0.69%
0.66%
0.55%
0.77%
0.78%
0.80%
Page 138
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
#
36
35
35
32
31
31
Schedule 4a
Operating results
Ontario
Location
Net
Loan
Income
Income
Loss
taxes
ROA
%
Meridian
St. Catharines
Alterna Savings
Ottawa
First Ontario
Hamilton
Libro
London
Toronto
Kawartha
Peterborough
Windsor Family
Windsor
Mennonite Savings
Kitchener
Waterloo
Northern
Sault Ste. Marie
United Communities
Essex
Buduchnist
Toronto
Ukrainian
Toronto
Hamilton Teachers
Hamilton
Community First (formerly ASCU)Sault Ste. Marie
PenFinancial
Welland
Sudbury
Sudbury
The Police*
Toronto
Parama Lithuanian*
Toronto
Prosperity One*
Milton
Your
Ottawa
Windsor
Lambton Financial*
Sarnia
Copperfin
Kenora
Toronto
Sydenham Community
Strathroy
Northern Lights
Thunder Bay
Momentum*
Hamilton
Hamilton
Education*
Kitchener
Barrie
Toronto
Hald-Nor Community
Caledonia
Estonian
Toronto
Weighted Average
0.75%
0.38%
1.20%
0.91%
1.03%
1.27%
0.80%
0.51%
0.52%
0.54%
0.37%
0.76%
0.28%
0.23%
0.22%
0.32%
1.17%
0.04%
0.48%
-0.02%
0.34%
0.56%
0.55%
0.91%
0.51%
0.68%
0.44%
0.09%
0.30%
0.31%
0.48%
0.24%
0.64%
0.59%
0.69%
0.41%
0.04%
0.26%
0.11%
-0.22%
0.11%
0.15%
0.05%
0.07%
0.11%
0.17%
0.02%
-0.01%
0.02%
0.12%
-0.05%
0.08%
0.03%
0.00%
0.05%
0.05%
0.28%
0.18%
0.19%
0.16%
0.16%
-0.12%
0.00%
0.00%
0.10%
0.00%
0.02%
0.00%
0.05%
0.18%
0.04%
0.06%
0.10%
0.08%
0.25%
0.09%
0.08%
0.04%
0.05%
0.12%
0.05%
0.09%
0.03%
0.02%
0.00%
0.08%
0.18%
-0.01%
0.07%
-0.02%
0.05%
0.00%
0.09%
0.07%
0.03%
0.08%
0.09%
0.01%
0.05%
0.03%
0.10%
0.02%
0.11%
0.07%
0.07%
0.30%
0.28%
0.84%
0.72%
1.00%
1.06%
0.57%
0.43%
0.40%
0.32%
0.15%
0.64%
0.26%
0.19%
0.11%
0.30%
0.92%
0.02%
0.41%
-0.05%
0.24%
0.28%
0.28%
0.65%
0.32%
0.44%
0.47%
0.08%
0.25%
0.18%
0.38%
0.20%
0.54%
0.47%
0.44%
0.73%
0.08%
0.09%
0.55%
0.81%
0.72%
0.74%
0.86%
0.75%
0.77%
0.15%
0.18%
0.19%
0.14%
0.10%
0.14%
0.07%
0.08%
0.07%
0.09%
0.12%
0.10%
0.59%
0.46%
0.49%
0.63%
0.52%
0.53%
Ontario
Total 2011
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
Page 139
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Schedule 4a
Operating results
Saskatchewan
Location
Conexus
Affinity
Innovation
Synergy
Cornerstone
Spectra
TCU Financial Group
Prairie Centre
Advantage
Weyburn
Diamond North
Crossroads*
Plainsview*
Unity
Horizon
Biggar & District*
Shaunavon
Weighted Average
Regina
Saskatoon
North Battleford
Lloydminster
Yorkton
Estevan
Saskatoon
Rosetown
Melfort
Weyburn
Nipawin
Canora
Kipling
Unity
Melville
Biggar
Shaunavon
Net
Loan
Income
Income
Loss
taxes
#
13
15
15
10
10
11
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
ROA
%
1.22%
1.09%
1.05%
0.99%
0.73%
0.54%
0.86%
0.77%
0.31%
0.96%
0.76%
0.77%
0.69%
0.98%
0.75%
1.30%
0.63%
0.99%
0.12%
0.01%
0.14%
-0.15%
-0.01%
0.02%
0.07%
-0.02%
0.08%
0.00%
0.12%
0.08%
0.01%
0.16%
0.08%
0.10%
-0.03%
0.05%
0.12%
0.14%
0.09%
0.20%
0.08%
0.08%
0.14%
0.06%
0.03%
0.13%
0.09%
0.07%
0.12%
0.09%
0.09%
0.12%
0.08%
0.12%
0.98%
0.95%
0.82%
0.94%
0.65%
0.43%
0.65%
0.73%
0.20%
0.83%
0.56%
0.62%
0.56%
0.72%
0.58%
1.08%
0.58%
0.82%
0.73%
0.08%
0.09%
0.55%
0.88%
1.06%
0.75%
1.26%
1.34%
1.27%
0.10%
0.06%
0.14%
0.12%
0.22%
0.12%
0.10%
0.14%
0.07%
0.17%
0.18%
0.18%
0.68%
0.86%
0.55%
0.97%
0.95%
0.97%
Page 140
1
2
3
4
5
6
Schedule 4a
Operating results
Atlantic Provinces
Location
East Coast
Bayview
Bergengren
Eagle River
Weighted Average
St. John's
Darmouth
Halifax
St. John
Antigonish
L'Anse au Loop
Net
Loan
Income
Income
Loss
taxes
#
4
4
4
4
4
4
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
ROA
%
0.40%
0.53%
0.72%
0.80%
0.98%
0.82%
0.74%
0.01%
0.13%
0.18%
0.12%
0.15%
0.15%
0.15%
0.09%
0.08%
0.15%
0.14%
0.15%
0.08%
0.12%
0.30%
0.31%
0.39%
0.54%
0.67%
0.59%
0.47%
0.73%
0.08%
0.09%
0.55%
0.89%
0.73%
0.67%
0.59%
0.68%
0.56%
0.10%
0.15%
0.15%
0.14%
0.14%
0.14%
0.18%
0.13%
0.10%
0.07%
0.12%
0.05%
0.61%
0.46%
0.41%
0.37%
0.43%
0.37%
Schedule 4a
Operating results
British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Atlantic Provinces
Total 2012
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Number of CUs
Net
Loan
Income
Loss
Income
taxes
ROA
%
34
13
17
21
34
6
125
0.63%
0.90%
0.99%
0.72%
0.69%
0.74%
0.73%
0.07%
0.07%
0.05%
0.03%
0.18%
0.15%
0.08%
0.09%
0.13%
0.12%
0.08%
0.07%
0.12%
0.09%
0.47%
0.70%
0.82%
0.61%
0.44%
0.47%
0.55%
115
115
120
98
98
101
0.84%
0.88%
0.77%
0.91%
0.87%
0.89%
0.10%
0.12%
0.13%
0.12%
0.10%
0.09%
0.12%
0.13%
0.09%
0.13%
0.12%
0.13%
0.64%
0.63%
0.55%
0.66%
0.64%
0.66%
Page 141
Schedule 5
Operating Expense Analysis
British Columbia
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Location
Sharons*
Columbia Valley
Osoyoos
Creston & District
North Shore
Prospera
Northern Savings
Aldergrove
Revelstoke*
Westminster Savings
Community Savings
Sunshine Coast
Salmon Arm Savings
Kootenay Savings
Island Savings
Interior Savings
Bulkley Valley
Lake View
VantageOne
Nelson & District
Coastal Community
Integris
First
Total 2012
Vancouver
Surrey
Golden
Osoyoos
Vancouver
Creston
North Vancouver
Abbotsford
Prince Rupert
Aldergrove
Burnaby
Vancouver
Revelstoke
New Westminster
Surrey
Grand Forks
Summerland
Gibsons
Salmon Arm
Ladysmith
Langley
Trail
Duncan
Kelona
Cranbrook
Smithers
Dawson Creek
Vernon
Williams Lake
Nelson
Fort St. John
Nanaimo
Prince George
Powell River
#
30
31
32
28
26
27
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Total
Productivity
Salary Occupancy Other
Operating Expense
Expense Expense Expenses Expenses Ratio (a)
0.88%
1.05%
0.81%
1.07%
1.12%
1.22%
1.28%
1.29%
1.34%
1.31%
1.24%
1.41%
0.00%
1.39%
1.71%
1.38%
1.60%
1.47%
1.65%
1.68%
1.67%
1.95%
1.96%
1.86%
1.83%
1.88%
1.59%
2.01%
0.00%
2.22%
1.85%
2.27%
2.01%
3.07%
1.34%
0.08%
0.17%
0.18%
0.10%
0.27%
0.24%
0.15%
0.32%
0.23%
0.16%
0.48%
0.25%
0.00%
0.37%
0.00%
0.24%
0.51%
0.13%
0.12%
0.24%
0.20%
0.32%
0.40%
0.25%
0.20%
0.18%
0.18%
0.39%
0.00%
0.14%
0.23%
0.27%
0.24%
0.21%
0.23%
0.88%
0.66%
0.97%
0.83%
0.66%
0.79%
0.85%
0.70%
0.76%
0.90%
0.72%
0.79%
0.00%
0.77%
0.91%
1.03%
0.54%
1.15%
1.03%
0.88%
0.98%
0.61%
0.69%
0.93%
1.23%
1.31%
1.60%
1.17%
0.00%
1.31%
1.65%
1.28%
1.56%
1.75%
0.78%
1.84%
1.88%
1.96%
2.00%
2.04%
2.25%
2.27%
2.30%
2.34%
2.37%
2.44%
2.45%
2.50%
2.54%
2.62%
2.65%
2.66%
2.75%
2.79%
2.80%
2.85%
2.89%
3.04%
3.04%
3.26%
3.37%
3.37%
3.57%
3.60%
3.66%
3.73%
3.81%
3.81%
5.04%
2.38%
71.0%
71.0%
82.0%
81.9%
78.5%
68.1%
83.7%
82.2%
85.8%
82.1%
81.6%
80.4%
88.0%
76.1%
98.1%
76.5%
74.0%
77.4%
76.2%
85.0%
82.2%
82.0%
83.3%
78.6%
88.2%
77.1%
89.6%
88.7%
94.4%
99.5%
87.2%
87.0%
89.8%
83.4%
79.1%
3.10%
1.32%
0.21%
0.83%
76.4%
1.36%
1.40%
1.40%
1.46%
1.45%
1.48%
0.25%
0.26%
0.28%
0.27%
0.25%
0.26%
0.84%
0.89%
0.89%
0.87%
0.90%
0.96%
2.53%
2.65%
2.53%
2.61%
2.67%
2.78%
74.8%
73.7%
77.2%
77.3%
79.3%
78.6%
Page 142
Schedule 5
Alberta
1
2
3
4
5
6
7
8
9
10
11
12
13
Location
Shell Employees'
Christian
Lakeland
Rocky
Beaumont
Battle River
Mountain View
Wainwright
Servus
Bow Valley
Chinook
1st Choice Savings
Total 2012
Calgary
0.55%
Edmonton
0.96%
Bonnyville
1.05%
Rocky Mountain House1.02%
Beaumont
0.97%
Camrose
1.02%
Olds
1.35%
Wainwright
1.31%
Edmonton
1.46%
Calgary
1.27%
Cochrane
1.19%
Brooks
1.52%
Leithbridge
1.63%
1.37%
#
12
14
14
13
12
13
Total
Productivity
Operating Expense
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
0.07%
0.09%
0.09%
0.07%
0.13%
0.14%
0.07%
0.17%
0.17%
0.08%
0.32%
0.11%
0.18%
0.14%
0.44%
0.72%
0.66%
0.73%
0.82%
0.81%
0.94%
0.90%
0.87%
1.18%
1.01%
1.09%
1.00%
0.91%
1.06%
1.78%
1.80%
1.81%
1.92%
1.97%
2.36%
2.38%
2.50%
2.52%
2.52%
2.71%
2.82%
2.43%
76.5%
76.1%
51.3%
68.8%
80.2%
49.6%
78.9%
76.8%
71.6%
82.0%
87.0%
85.7%
88.4%
73.0%
3.10%
1.32%
0.21%
0.83%
76.4%
1.36%
1.33%
1.29%
1.45%
1.39%
1.37%
0.17%
0.17%
0.18%
0.21%
0.21%
0.23%
0.98%
0.95%
0.91%
0.96%
1.01%
1.05%
2.52%
2.45%
2.39%
2.62%
2.61%
2.65%
75.1%
73.5%
71.9%
68.5%
66.0%
67.7%
Page 143
Schedule 5
Manitoba
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Location
Crosstown Civic
Cambrian
Rosenort
Steinbach
Carpathia
Winnipeg Police
Starbuck
Access
Entegra
Niverville
Casera
Assiniboine
Oakbank*
Sunova
Noventis
Westoba
Portage
Dauphin Plains
Vanguard*
Swan Valley*
Sunrise
Total 2012
Winnipeg
Winnipeg
Rosenort
Steinbach
Winnipeg
Winnipeg
Winnipeg
Winnipeg
Winnipeg
Niverville
Winnipeg
Winnipeg
Oak Bank
Selkirk
Gimli
Brandon
Portage La Prairie
Dauphin
Rossburn
Swan River
Treherne
#
20
20
20
16
12
16
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Total
Productivity
Operating Expense
0.42%
0.59%
0.60%
0.65%
0.82%
0.82%
0.87%
1.03%
0.83%
0.83%
0.82%
1.05%
0.63%
1.28%
1.26%
1.32%
1.23%
1.31%
1.47%
1.48%
1.70%
0.90%
0.06%
0.13%
0.10%
0.10%
0.18%
0.21%
0.23%
0.15%
0.25%
0.20%
0.31%
0.27%
0.31%
0.40%
0.22%
0.16%
0.26%
0.16%
0.24%
0.16%
0.19%
0.18%
0.31%
0.38%
0.46%
0.48%
0.50%
0.53%
0.55%
0.52%
0.64%
0.70%
0.80%
0.72%
1.12%
0.48%
0.71%
0.81%
0.91%
1.00%
0.93%
1.11%
1.38%
0.60%
0.79%
1.09%
1.16%
1.23%
1.50%
1.56%
1.65%
1.69%
1.72%
1.73%
1.93%
2.04%
2.06%
2.17%
2.19%
2.28%
2.41%
2.47%
2.65%
2.76%
3.28%
1.68%
46.9%
53.3%
67.9%
60.3%
63.2%
75.9%
77.9%
72.3%
72.0%
77.7%
77.0%
78.2%
87.4%
77.7%
78.9%
79.5%
74.9%
74.5%
76.5%
82.9%
84.7%
69.9%
3.10%
1.32%
0.21%
0.83%
76.4%
0.94%
0.96%
0.95%
1.01%
1.03%
1.06%
0.19%
0.20%
0.20%
0.21%
0.22%
0.22%
0.64%
0.66%
0.64%
0.69%
0.73%
0.79%
1.76%
1.82%
1.78%
1.92%
1.97%
2.07%
69.0%
69.3%
71.1%
66.8%
66.2%
66.1%
Page 144
Schedule 5
Ontario
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
#
36
35
35
32
31
31
Location
Total
Productivity
Operating Expense
Estonian
Toronto
Parama Lithuanian*
Toronto
Buduchnist
Toronto
Toronto
Meridian
St. Catharines
Barrie
Ukrainian
Toronto
Libro
London
Windsor Family
Windsor
Mennonite Savings
Kitchener
Waterloo
Education*
Kitchener
First Ontario
Hamilton
Sydenham Community
Strathroy
Alterna Savings
Ottawa
Momentum*
Hamilton
Hamilton Teachers
Hamilton
PenFinancial
Welland
Sudbury
Sudbury
The Police*
Toronto
Hald-Nor Community
Caledonia
United Communities
Essex
Lambton Financial*
Sarnia
Communication Technologies*Toronto
Community First (formerly ASCU) Sault Ste. Marie
Prosperity One*
Milton
Your
Ottawa
Windsor
Kawartha
Peterborough
Hamilton
Copperfin
Kenora
Northern
Sault Ste. Marie
Toronto
Northern Lights
Thunder Bay
Total 2012
0.70%
0.68%
0.80%
0.91%
1.02%
1.16%
1.23%
1.30%
1.19%
1.32%
1.32%
1.01%
1.36%
1.42%
1.47%
1.44%
1.54%
1.58%
1.54%
1.47%
1.70%
1.64%
1.68%
1.48%
1.73%
1.87%
1.64%
1.73%
1.96%
2.03%
1.99%
2.27%
2.50%
2.72%
1.30%
0.12%
0.02%
0.13%
0.20%
0.15%
0.09%
0.27%
0.20%
0.24%
0.28%
0.35%
0.27%
0.25%
0.17%
0.28%
0.12%
0.25%
0.30%
0.18%
0.15%
0.11%
0.12%
0.22%
0.23%
0.21%
0.42%
0.21%
0.32%
0.43%
0.00%
0.30%
0.30%
0.31%
0.43%
0.21%
0.53%
0.66%
0.73%
0.56%
0.70%
0.94%
0.71%
0.72%
0.80%
0.65%
0.61%
1.07%
0.86%
0.96%
1.06%
1.29%
1.07%
0.99%
1.17%
1.32%
1.24%
1.32%
1.18%
1.38%
1.29%
1.04%
1.48%
1.33%
1.16%
1.60%
1.38%
1.74%
1.57%
1.89%
0.88%
1.34%
1.37%
1.66%
1.67%
1.87%
2.19%
2.21%
2.21%
2.23%
2.24%
2.28%
2.35%
2.47%
2.55%
2.80%
2.85%
2.87%
2.87%
2.89%
2.94%
3.05%
3.08%
3.08%
3.09%
3.24%
3.33%
3.34%
3.38%
3.55%
3.62%
3.68%
4.30%
4.38%
5.04%
2.40%
69.6%
74.0%
68.7%
61.9%
71.3%
82.1%
88.7%
71.0%
73.5%
81.4%
81.5%
88.4%
67.3%
78.9%
88.1%
97.1%
92.4%
89.9%
71.1%
98.8%
82.6%
89.2%
84.9%
85.7%
93.6%
100.6%
90.8%
85.8%
73.7%
92.4%
80.2%
88.9%
94.8%
91.9%
77.6%
3.10%
1.32%
0.21%
0.83%
76.4%
1.51%
1.45%
1.48%
1.56%
1.63%
1.80%
0.23%
0.23%
0.24%
0.24%
0.25%
0.27%
1.06%
0.97%
0.96%
1.09%
1.15%
1.27%
2.82%
2.74%
2.68%
2.89%
3.04%
3.33%
77.3%
78.7%
78.3%
77.0%
80.2%
81.3%
Ontario
Total 2011
Total 2010
Total 2009
Total 2008
Total 2007
Total 2006
Page 145
Schedule 5
Saskatchewan
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
#
13
14
15
10
10
11
Total
Productivity
Operating Expense
Location
Shaunavon
TCU Financial Group
Weyburn
Unity
Synergy
Prairie Centre
Crossroads*
Conexus
Diamond North
Spectra
Affinity
Biggar & District*
Cornerstone
Innovation
Horizon
Plainsview*
Advantage
Total 2012
Shaunavon
Saskatoon
Weyburn
Unity
Lloydminster
Rosetown
Canora
Regina
Nipawin
Estevan
Saskatoon
Biggar
Yorkton
North Battleford
Melville
Kipling
Melfort
1.41%
1.39%
1.54%
1.34%
1.58%
1.56%
1.52%
1.61%
1.74%
1.76%
1.71%
1.59%
1.93%
1.84%
1.86%
1.89%
2.32%
1.69%
0.11%
0.14%
0.15%
0.11%
0.14%
0.20%
0.16%
0.21%
0.21%
0.16%
0.18%
0.22%
0.21%
0.21%
0.12%
0.22%
0.30%
0.19%
0.90%
0.88%
0.74%
1.02%
0.84%
0.96%
1.10%
1.01%
1.02%
1.06%
1.18%
1.29%
0.98%
1.08%
1.16%
1.21%
1.49%
1.04%
2.41%
2.41%
2.43%
2.46%
2.56%
2.72%
2.78%
2.83%
2.97%
2.97%
3.07%
3.10%
3.12%
3.13%
3.14%
3.31%
4.11%
2.92%
79.1%
73.7%
71.6%
71.6%
72.2%
77.9%
78.4%
69.8%
79.5%
84.7%
73.8%
70.4%
81.1%
74.8%
80.7%
82.8%
93.0%
74.6%
3.10%
1.32%
0.21%
0.83%
76.4%
1.72%
1.86%
1.88%
2.06%
2.08%
2.09%
0.21%
0.23%
0.24%
0.25%
0.25%
0.26%
1.24%
1.35%
1.39%
1.59%
1.54%
1.64%
3.17%
3.44%
3.51%
3.90%
3.88%
4.00%
78.3%
76.5%
82.3%
75.8%
74.3%
75.9%
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Page 146
Schedule 5
Atlantic Provinces
1
2
3
4
5
6
Location
Bayview
Bergengren
East Coast
Eagle River
Total 2012
St. John's
St. John
Antigonish
Halifax
Darmouth
L'Anse au Loop
#
4
4
4
4
4
4
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Schedule 5
Provinical Comparison
British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Atlantic Provinces
Total 2012
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Total
Productivity
Operating Expense
1.98%
2.01%
2.07%
1.81%
2.01%
2.56%
2.00%
0.29%
0.22%
0.24%
0.57%
0.46%
0.19%
0.35%
1.17%
1.40%
1.41%
1.37%
1.75%
2.65%
1.47%
3.44%
3.62%
3.72%
3.75%
4.22%
5.41%
3.83%
89.5%
81.8%
79.1%
83.9%
88.8%
86.8%
85.5%
3.10%
1.32%
0.21%
0.83%
76.4%
2.01%
1.97%
2.00%
2.12%
2.16%
2.27%
0.35%
0.38%
0.38%
0.41%
0.41%
0.40%
1.45%
1.45%
1.50%
1.64%
1.72%
1.80%
3.81%
3.79%
3.88%
4.17%
4.29%
4.47%
81.1%
83.8%
85.4%
87.7%
86.3%
88.9%
Total
Productivity
Operating Expense
Number of CUs Expense Expense Expenses Expenses Ratio (a)
34
13
17
21
34
6
125
1.34%
1.37%
1.69%
0.90%
1.30%
2.00%
3.10%
0.23%
0.14%
0.19%
0.18%
0.21%
0.35%
1.32%
0.78%
0.91%
1.04%
0.60%
0.88%
1.47%
0.21%
2.38%
2.43%
2.92%
1.68%
2.40%
3.83%
0.83%
79.1%
73.0%
74.6%
69.9%
77.6%
85.5%
76.4%
115
115
120
98
98
101
1.37%
1.39%
1.38%
1.48%
1.51%
1.55%
0.23%
0.23%
0.24%
0.24%
0.25%
0.26%
0.92%
0.94%
0.92%
0.98%
1.00%
1.08%
2.55%
2.57%
2.55%
2.70%
2.76%
2.89%
75.2%
74.6%
76.8%
74.6%
76.1%
76.3%
Page 147
Schedule 6
Capital Ratios
British Columbia
Location
1
Creston & District
Creston
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
First
Columbia Valley
Aldergrove
Nelson & District
Interior Savings
Sunshine Coast
Kootenay Savings
VantageOne
Osoyoos
Bulkley Valley
Revelstoke*
Island Savings
Westminster Savings
Salmon Arm Savings
Sharons*
Lake View
Coastal Community
Prospera
Integris
Community Savings
North Shore
Northern Savings
Total 2012
Powell River
Golden
Aldergrove
Nelson
Kelona
Gibsons
Trail
Vernon
Fort St. John
Osoyoos
Smithers
Summerland
Cranbrook
Revelstoke
Ladysmith
Vancouver
Langley
Duncan
New Westminster
Burnaby
Salmon Arm
Williams Lake
Vancouver
Grand Forks
Vancouver
Dawson Creek
Surrey
Nanaimo
Abbotsford
Prince George
Surrey
North Vancouver
Prince Rupert
% of the largest
125 largest credit unions
#
30
31
32
28
26
27
Total
Total
Total
Total
Total
Total
2010
2010
2009
2008
2007
2006
Net
Capital*
($000's)
Growth Capital Dividends & Return to
in Capital
%
Patronage Members
%
Assets
($000's)
%
15,748
4.7%
13.34%
451
39.1%
25,198
12,859
47,276
14,255
168,307
29,479
75,864
20,658
24,496
9,386
21,319
13,729
17,606
11,678
9,280
73,773
377,951
90,267
144,500
12,376
31,255
11,686
14,473
12,981
1,003,054
16,647
726,848
95,482
121,994
26,452
21,574
106,525
37,798
3,427,025
45.7%
3.0%
7.5%
-4.4%
3.4%
5.2%
2.4%
1.9%
-2.6%
0.4%
5.3%
1.1%
5.0%
2.7%
-0.4%
7.5%
3.2%
8.5%
8.4%
12.4%
-0.9%
0.1%
4.5%
3.8%
6.6%
0.8%
10.5%
8.8%
3.5%
6.5%
-1.3%
-3.5%
5.4%
6.3%
10.64%
8.97%
8.87%
8.17%
8.10%
7.97%
7.92%
7.81%
7.72%
7.71%
7.66%
7.49%
7.26%
7.15%
6.88%
6.78%
6.42%
6.40%
6.31%
6.05%
6.02%
6.01%
6.00%
5.97%
5.88%
5.78%
5.77%
5.62%
5.27%
5.06%
5.02%
4.84%
4.60%
6.10%
253
56
1,019
39
3,352
593
2,747
34
624
229
715
463
128
169
63
112
1,027
819
69
2,262
31
769
630
9,193
281
960
55
817
274
14
70
127
27,994
15.0%
13.2%
43.6%
13.4%
34.3%
27.3%
52.7%
7.6%
70.3%
50.1%
39.7%
58.5%
20.7%
31.3%
63.1%
2.1%
6.2%
13.6%
9.0%
60.4%
23.3%
54.2%
57.2%
16.3%
57.8%
1.3%
0.7%
14.8%
19.7%
-7.4%
0.9%
6.2%
12.3%
37%
9,209,920
8.2%
6.67%
17%
164,853
23.5%
3,200,706
2,921,539
2,708,897
2,477,510
2,210,150
20,594,484
8.9%
12.2%
6.4%
12.8%
9.7%
6.9%
6.08%
6.07%
5.69%
5.55%
5.20%
5.34%
38,933
41,346
34,162
34,003
33,744
35,981
12.1%
13.8%
14.1%
15.9%
15.8%
17.1%
* Shares, retained earnings and comprehensive income
Page 148
Schedule 6
Capital Ratios
Alberta
1
2
3
4
5
6
7
8
9
10
11
12
13
Location
Battle River
Lakeland
Rocky
Wainwright
Chinook
Servus
Beaumont
Mountain View
1st Choice Savings
Bow Valley
Christian
Shell Employees'
Total 2012
Camrose
Bonnyville
Wainwright
Brooks
Edmonton
Beaumont
Olds
Calgary
Leithbridge
Cochrane
Edmonton
Calgary
% of the largest
#
13
12
14
13
12
13
Net
Capital*
($000's)
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Growth Capital Dividends & Return to
in Capital
%
Patronage Members
%
Assets
($000's)
%
80,126
72,124
30,874
31,973
65,738
977,090
17,230
43,373
190,795
28,096
17,580
13,244
14,083
1,582,326
7.9%
9.3%
6.9%
6.5%
11.3%
9.5%
22.3%
2.7%
5.0%
3.3%
2.1%
8.0%
6.1%
8.5%
13.83%
13.51%
10.02%
8.46%
8.15%
8.02%
7.89%
7.70%
7.17%
6.72%
6.40%
6.08%
5.33%
8.15%
7,172
2,966
435
992
963
42,001
189
683
7,744
335
303
248
217
64,248
70.5%
39.8%
23.8%
45.1%
35.1%
47.1%
27.0%
26.6%
88.8%
23.6%
41.4%
23.9%
27.0%
49.6%
17%
9,209,920
8.2%
6.67%
39%
164,853
23.5%
1,418,398
1,314,534
1,244,533
1,076,372
947,918
805,474
7.8%
7.3%
8.8%
18.0%
15.8%
8.4%
8.06%
7.76%
7.56%
7.28%
7.18%
7.29%
64,937
62,225
60,607
55,335
50,828
46,442
64.5%
56.4%
52.9%
41.7%
43.4%
47.0%
Page 149
Schedule 6
Capital Ratios
Manitoba
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Net
Capital*
Location
($000's)
Growth
in Capital
%
Access
Sunova
Vanguard*
Winnipeg Police
Niverville
SunRise
Westoba
Noventis
Cambrian
Crosstown Civic
Swan Valley*
Portage
Carpathia
Steinbach
Assiniboine
Rosenort
Dauphin Plains
Casera
Oakbank*
Starbuck
Entegra
Total 2012
Winnipeg
Selkirk
Rossburn
Winnipeg
Niverville
Treherne
Brandon
Gimli
Winnipeg
Winnipeg
Swan River
Portage La Prairie
Winnipeg
Steinbach
Winnipeg
Rosenort
Dauphin
Winnipeg
Oak Bank
Winnipeg
Winnipeg
106,693
61,591
24,186
9,833
15,483
45,177
70,086
29,059
164,760
98,317
13,410
13,862
20,294
222,482
188,800
13,081
11,386
16,414
9,659
8,723
23,663
1,166,960
8.7%
15.6%
9.1%
5.9%
3.2%
17.3%
11.8%
5.7%
11.2%
12.7%
6.6%
12.3%
9.9%
12.7%
7.3%
8.6%
13.6%
9.7%
3.8%
8.0%
0.0%
10.4%
7.08%
6.79%
6.78%
6.24%
6.20%
6.03%
6.02%
5.98%
5.96%
5.79%
5.75%
5.70%
5.67%
5.61%
5.50%
5.27%
5.25%
5.23%
5.09%
5.04%
4.71%
5.86%
979
504
76
170
70
165
275
4,248
2,592
150
200
322
950
78
240
107
5
240
$11,371
28.1%
21.1%
12.6%
21.9%
2.1%
3.0%
11.2%
19.0%
20.0%
12.9%
11.9%
13.7%
6.6%
6.9%
15.5%
7.2%
1.0%
10.7%
9.9%
13%
$9,209,920
8.2%
6.67%
7%
$164,853
23.5%
$1,027,302
$895,606
$820,499
$673,891
$545,546
$493,862
10.7%
10.5%
9.0%
32.1%
25.9%
13.6%
5.92%
5.75%
5.75%
5.76%
5.70%
5.70%
$16,092
$14,957
$11,693
$15,050
$13,368
$14,204
14.1%
15.4%
15.6%
17.7%
20.0%
21.6%
% of the largest
#
20
19
20
16
12
16
Total
Total
Total
Total
Total
Total
2010
2010
2009
2008
2007
2006
Capital
%
Assets
Dividends &
Patronage
($000's)
Return to
Members
%
Page 150
Schedule 6
Capital Ratios
Ontario
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Net
Capital*
Location
Toronto
Mennonite Savings
Kitchener
Buduchnist
Toronto
Momentum*
Hamilton
Sudbury
Sudbury
Toronto
PenFinancial
Welland
Lambton Financial*
Sarnia
Waterloo
Hald-Nor Community
Caledonia
Kawartha
Peterborough
Copperfin
Kenora
Windsor Family
Windsor
Windsor
Sydenham Community
Strathroy
Ukrainian
Toronto
Alterna Savings
Ottawa
Estonian
Toronto
Northern
Sault Ste. Marie
Communication Technologies* Toronto
United Communities
Essex
Prosperity One*
Milton
First Ontario
Hamilton
Parama Lithuanian*
Toronto
Meridian
St. Catharines
Hamilton
Libro
London
Barrie
Your
Ottawa
Hamilton Teachers
Hamilton
Northern Lights
Thunder Bay
Education*
Kitchener
The Police*
Toronto
Total 2012
% of the largest
#
36
35
35
32
31
31
Total
Total
Total
Total
Total
Total
2010
2010
2009
2008
2007
2006
($000's)
Growth
in Capital
%
Capital
%
Assets
Dividends &
Patronage
($000's)
Return to
Members
%
19,862
69,926
51,585
13,246
26,746
104,194
26,459
15,969
57,728
9,848
73,124
14,166
65,872
14,765
12,750
41,050
165,684
7,448
47,107
11,914
45,159
12,968
114,084
13,581
537,860
20,425
9,514
103,226
8,693
11,626
24,885
9,111
8,823
11,331
1,780,731
0.7%
-2.1%
7.6%
-0.2%
33.6%
9.9%
6.5%
4.1%
77.6%
3.3%
39.4%
8.1%
8.1%
4.3%
7.7%
9.2%
28.1%
5.5%
3.6%
-4.9%
5.4%
4.8%
12.2%
3.9%
4.9%
3.2%
5.5%
-4.9%
8.1%
4.2%
3.4%
5.2%
3.5%
2.3%
9.6%
13.80%
8.46%
8.29%
8.29%
8.19%
8.16%
8.02%
7.98%
7.95%
7.87%
7.57%
7.45%
7.25%
7.25%
7.15%
7.03%
6.94%
6.85%
6.61%
6.57%
6.42%
6.34%
6.32%
6.31%
6.15%
6.02%
5.97%
5.95%
5.84%
5.70%
5.68%
5.62%
5.55%
4.95%
6.74%
40
1,769
608
70
158
3,062
535
180
126
4,285
113
930
317
181
337
1,849
125
237
13
718
2,684
235
19,287
83
4,709
88
492
53
96
43,381
13.9%
-648.0%
15.0%
37.2%
6.0%
24.8%
34.1%
6.8%
29.3%
47.6%
8.4%
21.9%
53.1%
19.6%
17.0%
33.2%
24.4%
13.7%
-9.3%
46.2%
18.9%
27.0%
77.3%
10.8%
44.1%
18.3%
43.3%
5.8%
34.3%
40.4%
19%
$9,209,920
8.2%
6.67%
26%
164,853
23.5%
$1,692,916
$1,520,048
$1,385,298
$1,211,301
$1,130,400
$1,063,002
12.1%
9.6%
10.8%
6.8%
6.9%
10.8%
6.90%
7.30%
7.17%
6.90%
7.04%
7.11%
36,901
30,428
30,437
28,325
31,219
30,322
28.8%
33.4%
34.1%
26.9%
39.4%
42.1%
Page 151
Schedule 6
Capital Ratios
Saskatchewan
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Net
Capital*
Location
($000's)
Growth
in Capital
%
Synergy
Shaunavon
Affinity
Biggar & District*
Cornerstone
Weyburn
Unity
Innovation
Conexus
Spectra
Crossroads*
Diamond North
Plainsview*
TCU Financial Group
Prairie Centre
Horizon
Advantage
Total 2012
Lloydminster
Shaunavon
Saskatoon
Biggar
Yorkton
Weyburn
Unity
North Battleford
Regina
Estevan
Canora
Nipawin
Kipling
Saskatoon
Rosetown
Melville
Melfort
103,051
11,175
215,517
11,708
63,933
32,502
13,785
127,978
321,967
52,901
15,820
25,700
14,486
38,934
31,943
11,581
25,711
1,118,691
9.6%
6.2%
11.6%
10.6%
7.7%
9.6%
6.8%
12.3%
12.2%
5.0%
6.7%
8.1%
8.3%
10.8%
11.7%
9.3%
3.4%
10.5%
9.13%
8.73%
8.71%
8.04%
7.93%
7.75%
7.74%
7.72%
7.66%
7.35%
7.32%
7.13%
7.08%
7.05%
6.70%
6.57%
5.77%
7.83%
2,363
2,917
337
985
754
199
2,350
5,566
407
15,879
22.8%
12.8%
23.1%
19.4%
23.3%
18.2%
17.2%
14.5%
30.6%
14.1%
12%
$9,209,920
8.2%
6.67%
10%
164,853
23.5%
$946,030
$872,895
$822,395
$670,867
$508,771
$473,833
9.0%
10.2%
7.5%
12.5%
19.9%
25.6%
7.70%
7.82%
7.44%
7.45%
7.52%
7.77%
10,770
16,424
10,992
13,233
17,090
17,408
13.4%
17.6%
18.8%
16.4%
28.1%
30.9%
% of the largest
#
13
14
15
10
10
11
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Capital
%
Assets
Dividends &
Patronage
($000's)
Return to
Members
%
Page 152
Schedule 6
Capital Ratios
Atlantic Provinces
1
2
3
4
5
6
Net
Capital*
Location
East Coast
Bergengren
Eagle River
Bayview
Total 2012
Darmouth
Antigonish
L'Anse au Loop
St. John
Halifax
St. John's
% of the largest
#
4
4
4
4
4
4
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
($000's)
Growth
Capital
in Capital
%
%
Assets
28,251
16,121
7,467
23,071
19,028
24,501
118,439
-7.1%
9.9%
9.8%
7.3%
2.6%
5.7%
2.9%
7.84%
7.75%
7.41%
6.84%
5.79%
5.01%
6.49%
1%
$9,209,920
8.2%
6.67%
$93,644
$68,980
$65,953
$63,050
$57,694
$46,550
27.0%
4.6%
3.9%
6.4%
9.6%
14.3%
6.57%
6.00%
6.06%
6.33%
6.52%
6.47%
Dividends &
Patronage
($000's)
111
437
140
426
304
112
1,530
1%
164,853
826
1,317
1,404
1,502
1,494
1,097
Return to
Members
%
10.0%
31.6%
24.2%
24.6%
26.2%
7.9%
20.7%
23.5%
10.4%
25.7%
32.4%
42.4%
40.9%
43.8%
Schedule 6
Capital Ratios
Provinvial Comparison
Net
Capital*
Number of CUs
($000's)
Growth
Capital
in Capital
%
%
Assets
Dividends &
Patronage
($000's)
Return to
Members
%
British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Atlantic Provinces
Total 2012
34
13
17
21
34
6
125
3,427,025
1,582,326
1,118,691
1,166,960
1,780,731
118,439
9,194,172
6.3%
8.5%
10.5%
10.4%
9.6%
2.9%
8.2%
6.10%
8.15%
7.83%
5.86%
6.74%
6.49%
6.67%
27,994
64,248
15,879
11,371
43,381
1,530
164,402
12.3%
49.6%
14.1%
9.9%
40.4%
20.7%
23.5%
Total
Total
Total
Total
Total
Total
115
115
120
98
98
101
8,378,997
7,593,603
7,047,575
6,072,751
5,400,480
4,941,205
9.8%
10.3%
8.0%
14.1%
12.5%
10.3%
6.66%
6.68%
6.42%
6.26%
6.07%
6.17%
168,458
166,699
149,296
146,034
147,743
145,443
22.4%
23.9%
25.6%
23.7%
27.5%
28.8%
2011
2010
2009
2008
2007
2006
Page 153
Disclosure Regulations-Restricted Party Transactions
Restricted Party Transactions
Credit unions are required to disclose the total amount loans made to restricted parties. Under
section 82 of Regulation 76/95 of the Credit Unions and Caisses Populaires Act, restricted party is
defined as follows:
“A restricted party includes a person who is, or has been within the preceding twelve months, a
director, officer, committee member, or any corporation in which the person owns more than
10% of the voting shares, his or her spouse, their dependent relatives who live in the same
household as the person, and any corporation controlled by such spouse or dependent relative.”
The restricted party loans to total loans ratio ranged from 0% to a high of 4.43% (Christian
Credit Union, located in Edmonton, Alberta).





In 2012, the average ratio for the 99 credit unions, which disclosed their loans held by
restricted parties, was 1.76% of the total loans outstanding.
In 2008, the average ratio for the 88 credit unions which disclosed the loans held by
restricted parties was 2.00% of the total loans outstanding.
The directors & employees of the credit unions in Alberta continue to be the most supportive of
their credit unions and have loans outstanding representing 2.86% of the total loans compared
to 2.72% last year, followed by the credit unions in Manitoba with a ratio of 2.27% in 2012.
Page 154
Schedule 7
Director &
Employee Loans
British Columbia
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
#
18
25
30
21
20
23
Location
Nelson & District
Osoyoos
Columbia Valley
VantageOne
Island Savings
North Shore
Creston & District
Salmon Arm Savings
Lake View
Community Savings
Sunshine Coast
Kootenay Savings
Integris
Northern Savings
First
Prospera
Coastal Community
Interior Savings
Westminster Savings
Total 2012
Grand Forks
Nelson
Langley
Osoyoos
Surrey
Vancouver
Summerland
Ladysmith
Golden
Vernon
Duncan
North Vancouver
Creston
Salmon Arm
Dawson Creek
Burnaby
Surrey
Cranbrook
Gibsons
Trail
Prince George
Prince Rupert
Powell River
Abbotsford
Nanaimo
Kelona
New Westminster
Vancouver
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Director &
Net employee
As a %
Loans
loans net loans
($000's) ($000's)
%
167,870
110,571
5,158,386
83,310
10,742,729
14,347,292
145,588
113,735
74,829
207,165
1,253,849
1,933,994
64,618
423,402
169,850
174,061
355,405
207,355
325,895
799,719
451,869
673,581
189,979
2,100,062
1,514,958
1,819,455
2,007,756
955,189
46,572,473
5,731
3,324
154,571
2,494
276,642
319,740
3,102
2,202
1,290
3,441
19,614
28,815
882
3,647
1,437
1,319
2,675
1,498
1,982
4,794
2,247
3,301
883
8,805
3,750
2,992
1,492
457
863,126
3.41%
3.01%
3.00%
2.99%
2.58%
2.23%
2.13%
1.94%
1.72%
1.66%
1.56%
1.49%
1.36%
0.86%
0.85%
0.76%
0.75%
0.72%
0.61%
0.60%
0.50%
0.49%
0.46%
0.42%
0.25%
0.16%
0.07%
0.05%
1.85%
36,202,235
38,854,782
36,300,356
35,021,178
33,993,847
31,589,046
798,765
987,005
984,387
879,299
868,186
830,192
2.21%
2.54%
2.71%
2.51%
2.55%
2.63%
Page 155
1
2
3
4
5
6
7
8
9
10
11
12
13
#
13
12
14
13
13
12
Schedule 7
Director &
Employee Loans
Alberta
Location
Christian
1st Choice Savings
Chinook
Servus
Bow Valley
Mountain View
Lakeland
Shell Employees'
Battle River
Rocky
Beaumont
Wainwright
Total 2012
Edmonton
127,730
Leithbridge
339,406
Brooks
677,287
Edmonton
10,638,634
Cochrane
212,063
Olds
439,548
Calgary
2,188,046
Bonnyville
433,376
Calgary
203,402
Camrose
442,124
212,933
Beaumont
185,361
Wainwright
280,936
16,380,845
5,659
14,341
24,897
363,416
5,973
11,792
27,896
5,023
2,195
3,893
1,497
1,018
1,417
469,017
4.43%
4.23%
3.68%
3.42%
2.82%
2.68%
1.27%
1.16%
1.08%
0.88%
0.70%
0.55%
0.50%
2.86%
15,098,738
14,383,436
13,924,226
12,582,565
11,437,021
9,115,350
411,139
402,085
331,096
278,417
250,623
182,670
2.72%
2.80%
2.38%
2.21%
2.19%
2.00%
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Director &
Net employee
As a %
Loans
loans net loans
($000's) ($000's)
%
Page 156
Schedule 7
Director &
Employee Loans
Manitoba
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
#
14
18
18
14
11
15
Location
Noventis
SunRise
Steinbach
Westoba
Sunova
Portage
Access
Dauphin Plains
Starbuck
Entegra
Assiniboine
Swan Valley*
Niverville
Cambrian
Casera
Rosenort
Crosstown Civic
Carpathia
Total 2012
Gimli
Treherne
Steinbach
Brandon
Selkirk
Portage La Prairie
Winnipeg
Dauphin
Winnipeg
Winnipeg
Winnipeg
Swan River
Niverville
Winnipeg
Winnipeg
Rosenort
Winnipeg
Winnipeg
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Director &
Net employee
As a %
Loans
loans net loans
($000's) ($000's)
%
390,876
646,466
3,210,384
926,975
765,442
205,123
1,308,057
187,024
158,959
446,838
2,846,539
168,539
199,433
2,184,109
283,285
187,407
1,342,215
302,423
15,760,093
16,628
24,260
118,083
29,943
22,959
5,905
37,530
4,442
3,228
8,483
41,864
2,237
2,521
22,114
2,682
1,733
11,041
1,898
357,549
4.25%
3.75%
3.68%
3.23%
3.00%
2.88%
2.87%
2.38%
2.03%
1.90%
1.47%
1.33%
1.26%
1.01%
0.95%
0.92%
0.82%
0.63%
2.27%
12,716,612
12,901,699
11,874,137
9,722,422
7,769,459
7,061,655
265,316
281,838
266,541
198,905
154,611
139,080
2.09%
2.18%
2.24%
2.05%
1.99%
1.97%
Page 157
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
#
25
21
30
29
26
28
Schedule 7
Director &
Employee Loans
Ontario
Location
Sudbury
Sudbury
Northern
Sault Ste. Marie
Copperfin
Kenora
Sydenham Community
Strathroy
Buduchnist
Toronto
Estonian
Toronto
Hamilton Teachers
Hamilton
PenFinancial
Welland
Windsor Family
Windsor
Mennonite Savings
Kitchener
Hald-Nor Community
Caledonia
United Communities
Essex
Libro
London
Your
Ottawa
Ukrainian
Toronto
Alterna Savings
Ottawa
First Ontario
Hamilton
Meridian
St. Catharines
Toronto
Kawartha
Peterborough
Total 2012
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Director &
Net employee
As a %
Loans
loans net loans
($000's) ($000's)
%
263,391
615,870
156,118
152,611
546,034
73,792
392,547
281,458
781,454
737,748
102,983
607,406
1,429,931
176,668
504,889
292,364
2,072,842
1,613,672
7,470,676
1,030,330
856,884
20,159,667
9,461
13,358
3,091
2,603
6,556
769
3,653
2,301
6,033
4,589
469
2,676
5,861
680
1,794
943
4,301
2,909
12,668
1,647
991
87,352
3.59%
2.17%
1.98%
1.71%
1.20%
1.04%
0.93%
0.82%
0.77%
0.62%
0.46%
0.44%
0.41%
0.38%
0.36%
0.32%
0.21%
0.18%
0.17%
0.16%
0.12%
0.43%
18,552,950
14,458,096
15,345,522
14,757,839
12,714,808
11,890,341
95,726
99,467
116,398
137,551
128,610
127,008
0.52%
0.69%
0.76%
0.93%
1.01%
1.07%
Page 158
1
2
3
4
5
6
7
8
9
10
11
12
13
#
12
9
10
7
6
11
Schedule 7
Director &
Employee Loans
Saskatchewan
Location
Horizon
Unity
Diamond North
Shaunavon
Weyburn
Prairie Centre
Synergy
Advantage
Conexus
Spectra
Cornerstone
TCU Financial Group
Innovation
Total 2012
Melville
Unity
Nipawin
Shaunavon
Weyburn
Rosetown
Lloydminster
Melfort
Regina
Estevan
Yorkton
Saskatoon
North Battleford
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Director &
Net employee
As a %
Loans
loans net loans
($000's) ($000's)
%
130,981
122,813
284,969
71,590
328,627
380,318
888,408
360,272
3,428,798
463,372
622,053
442,404
1,200,133
8,724,738
5,789
4,848
8,288
1,716
2,986
3,270
6,801
2,659
20,730
2,592
2,136
1,513
3,967
67,294
4.42%
3.95%
2.91%
2.40%
0.91%
0.86%
0.77%
0.74%
0.60%
0.56%
0.34%
0.34%
0.33%
0.77%
9,333,739
7,446,710
7,190,175
6,381,641
3,848,039
3,672,501
100,737
96,194
77,769
74,948
26,433
32,140
1.08%
1.29%
1.08%
1.17%
0.69%
0.88%
Page 159
1
2
3
4
5
6
#
3
4
4
4
4
4
Schedule 7
Director &
Employee Loans
Atlantic Provinces
Location
East Coast
Eagle River
Bayview
Bergengren
Total 2012
Darmouth
L'Anse au Loop
St. John
Antigonish
Halifax
St. John's
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Director &
Net employee
As a %
Loans
loans net loans
($000's) ($000's)
%
258,281
80,410
266,773
175,504
286,429
415,542
1,482,940
2,618
614
1,635
972
1,423
1,602
8,864
1.01%
0.76%
0.61%
0.55%
0.50%
0.39%
0.60%
908,784
956,835
906,396
851,673
748,023
593,542
5,957
24,094
24,181
18,751
15,502
10,744
0.66%
2.52%
2.67%
2.20%
2.07%
1.81%
Schedule 7
Director &
Employee Loans
Number of CUs
Director &
Net
employee
As a %
Loans
loans net loans
($000's)
($000's)
%
British Columbia
28
46,572,473
Alberta
Saskatchewan
Manitoba
Ontario
Atlantic Provinces
Total 2012
13
13
18
21
6
99
16,380,845
1,200,133
15,760,093
20,159,667
1,482,940
101,556,150
469,017
3,967
357,549
87,352
8,864
1,789,875
2.86%
0.33%
2.27%
0.43%
0.60%
1.76%
84,602,674
89,001,557
85,540,812
79,317,318
70,511,197
63,922,435
1,579,602
1,890,682
1,800,372
1,587,871
1,443,965
1,321,834
1.87%
2.12%
2.10%
2.00%
2.05%
2.07%
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
83
89
106
88
80
93
863,126
1.85%
Page 160
Disclosure Regulations-Expenses Related to Directors
Expenses Related to Board of Directors
Generally, member of the board of directors are remunerated for their work and are
generally entitled to be paid their traveling expenses and other expenses properly
incurred by them in connection with affairs with their credit union.
Total remuneration and expenses paid to members of the board of directors ranged from $nil
to about $729,000 (Servus Credit Union with its head office located in Edmonton, Alberta). The
director remuneration and expenses per director ranged from $nil to as high as $72,000 (Coast
Capital Savings Credit Union with its head office located in Surrey, British Columbia).





In 2012, the average remuneration and expenses per director was $13,125 for the
eighty (85) credit unions, represented by 845 directors, which disclosed this
information.
eighty (80) credit unions, represented by 813 directors, which disclosed this
information.
In 2010, the average remuneration and expenses per director was $12.079 for the
eighty one (81) credit unions, represented by 797 directors, which disclosed this
information.
eighty one (92) credit unions, represented by 884 directors, which disclosed this
information.
In 2008, the average remuneration and expenses per director was $12,000 for seventy
five (75) credit unions, represented by 764 directors, which disclosed this information.
In 2012, the average remuneration per director for eighty one (85) credit unions, which
disclosed this information, was $9,752 per director compared to $9,766 in the previous year.
Page 161
Schedule 8
Director Fees &
Expenses
British Columbia
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
#
17
22
25
17
20
23
Directors Number Directors Total
fees &
of
Fees/
Costs/
expenses Directors Director Director
Location
North Shore
Kootenay Savings
Lake View
Nelson & District
Salmon Arm Savings
Columbia Valley
Community Savings
Creston & District
VantageOne
Sunshine Coast
Osoyoos
Bulkley Valley
Total 2012
Surrey
Langley
North Vancouver
Vancouver
Cranbrook
Trail
Dawson Creek
Nelson
Salmon Arm
Summerland
Burnaby
Golden
Surrey
Creston
Vernon
Gibsons
Osoyoos
Smithers
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
$720,000
$590,000
$252,000
$235,000
$175,320
$157,864
$142,882
$111,254
$86,647
$71,950
$71,704
$65,907
$64,330
$60,281
$24,350
$23,500
$13,900
$5,400
$2,872,289
10
12
9
12
9
10
7
9
9
9
9
7
13
9
7
9
9
9
168
$72,000
$49,167
$28,000
$19,583
$10,000
$11,071
$6,757
$7,994
$3,889
$4,043
$4,948
$3,479
$2,611
$600
$13,620
$72,000
$49,167
$28,000
$19,583
$19,480
$15,786
$20,412
$12,362
$9,627
$7,994
$7,967
$9,415
$4,948
$6,698
$3,479
$2,611
$1,544
$600
$17,097
$3,384,148
$3,167,478
$3,193,293
$2,290,999
$1,809,906
$1,711,817
169
211
240
168
158
191
$16,851
$13,534
$11,697
n/a
n/a
n/a
$20,025
$15,012
$13,305
$13,637
$11,455
$8,962
Page 162
Schedule 8
Director Fees &
Expenses
Alberta
1
2
3
4
5
6
7
8
9
10
11
12
#
12
12
14
13
13
12
fees &
of
Fees/
Costs/
Location
Servus
Lakeland
Mountain View
Wainwright
1st Choice Savings
Shell Employees'
Rocky
Beaumont
Battle River
Bow Valley
Christian
Total 2012
Edmonton
$729,000
Calgary
$264,495
Bonnyville
$101,240
Olds
$76,063
Wainwright
$70,785
Leithbridge
$43,896
Calgary
$41,879
$28,510
Beaumont
$24,134
Camrose
$22,170
Cochrane
$21,871
Edmonton
$16,709
$1,440,752
12
9
9
9
9
10
12
9
9
11
8
7
114
$56,500
$28,819
$2,106
$3,203
$2,339
$1,670
$2,081
$2,530
$1,702
$2,126
$2,114
$9,780
$60,750
$29,388
$11,249
$8,451
$7,865
$4,390
$3,490
$3,168
$2,682
$2,015
$2,734
$2,387
$12,638
$1,637,027
$1,398,390
$1,035,229
$2,654,924
$1,379,882
$1,003,647
115
115
131
129
129
118
$11,019
$8,802
$6,180
n/a
n/a
n/a
$14,235
$12,160
$7,903
$20,581
$10,697
$8,505
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Page 163
Schedule 8
Director Fees &
Expenses
Manitoba
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
#
16
19
20
16
12
15
fees &
of
Fees/
Costs/
Location
Steinbach
Assiniboine
Cambrian
Crosstown Civic
Westoba
Sunrise
Noventis
Sunova
Access
Portage
Dauphin Plains
Swan Valley*
Rosenort
Carpathia
Entegra
Casera
Niverville
Starbuck
Winnipeg Police
Total 2012
Steinbach
Winnipeg
Winnipeg
Winnipeg
Brandon
Treherne
Gimli
Selkirk
Winnipeg
Portage La Prairie
Dauphin
Swan River
Rosenort
Winnipeg
Winnipeg
Winnipeg
Niverville
Winnipeg
Winnipeg
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
$402,092
$295,000
$239,000
$174,798
$140,032
$113,804
$108,619
$103,761
$94,862
$83,159
$75,001
$72,435
$69,460
$65,907
$63,361
$57,459
$28,166
$20,596
$7,938
$2,215,450
9
10
9
10
12
12
13
9
11
9
9
9
7
9
7
9
7
7
9
177
$44,677
$23,700
$22,556
$10,750
$8,923
$5,016
$1,129
$6,270
$5,861
$267
$2,792
$5,099
$2,593
$3,857
$3,057
$4,319
$3,199
$1,571
$156
$8,326
$44,677
$29,500
$26,556
$17,480
$11,669
$9,484
$8,355
$11,529
$8,624
$9,240
$8,333
$8,048
$9,923
$7,323
$9,052
$6,384
$4,024
$2,942
$882
$12,517
$1,783,721
$1,807,549
$1,648,028
$1,278,296
$1,195,061
$961,466
145
171
178
149
120
147
$8,615
$7,063
$6,214
n/a
n/a
n/a
$12,302
$9,986
$9,259
$8,579
$9,959
$6,541
Page 164
Schedule 8
Director Fees &
Expenses
Ontario
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
#
26
22
29
26
23
27
fees &
of
Fees/
Costs/
Location
Alterna Savings
Meridian
United Communities
Kawartha
First Ontario
Libro
PenFinancial
Ukrainian
Windsor Family
Northern
Sudbury
Hamilton Teachers
Copperfin
Northern Lights
Sydenham Community
Buduchnist
Your
Hald-Nor Community
Estonian
Mennonite Savings
Total 2012
Ottawa
St. Catharines
Essex
Toronto
Peterborough
Hamilton
London
Welland
Waterloo
Toronto
Windsor
Sault Ste. Marie
Sudbury
Hamilton
Kenora
Thunder Bay
Strathroy
Toronto
Ottawa
Caledonia
Toronto
Kitchener
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
$611,000
$435,500
$346,000
$324,000
$230,000
$191,000
$165,000
$119,858
$113,804
$83,000
$80,200
$68,650
$61,440
$59,000
$56,578
$52,082
$35,358
$34,819
$32,000
$15,000
$10,800
$5,316
$3,130,405
19
12
14
9
9
12
9
11
7
12
12
14
11
9
12
12
9
7
9
7
9
12
237
$22,158
$32,889
$24,714
$36,000
$19,222
$15,917
$18,333
$4,916
$8,598
$6,917
$5,883
$4,904
$1,424
$6,556
$1,230
$3,929
$4,143
$2,143
$10,633
$32,158
$36,292
$24,714
$36,000
$25,556
$15,917
$18,333
$10,896
$16,258
$6,917
$6,683
$4,904
$5,585
$6,556
$4,715
$4,340
$3,929
$4,974
$3,556
$2,143
$1,200
$443
$13,208
$3,003,819
$2,555,104
$2,541,942
$2,565,464
$2,452,778
$2,253,887
278
239
294
286
254
285
$6,196
$8,591
$5,959
n/a
n/a
n/a
$10,805
$10,691
$8,646
$8,970
$9,657
$8,856
Page 165
Schedule 8
Director Fees &
Expenses
Saskatchewan
1
2
3
4
5
6
7
8
#
6
5
3
2
4
4
#
3
1
1
1
1
1
fees &
of
Fees/
Costs/
Location
Conexus
Synergy
Diamond North
Spectra
Advantage
Weyburn
Horizon
Unity
Total 2012
Regina
Lloydminster
Nipawin
Estevan
Melfort
Weyburn
Melville
Unity
Total
Total
Total
Total
Total
Total
2010
2010
2009
2008
2007
2006
Schedule 8
Director Fees &
Expenses
Atlantic Provinces
1
2
3
4
5
6
East Coast
Eagle River
Bayview
Bergengren
Total 2012
St. John's
Darmouth
L'Anse au Loop
St. John
Antigonish
Halifax
$30,091
$11,667
$5,714
$8,820
$5,138
$4,451
$5,028
$2,900
$9,556
$38,636
$11,667
$8,857
$8,820
$6,482
$7,485
$5,998
$4,103
$11,931
$983,175
$768,745
$432,610
$352,084
$504,469
$404,009
67
52
32
23
43
40
$11,983
$11,900
$6,215
n/a
n/a
n/a
$14,674
$14,784
$13,519
$15,308
$11,732
$10,100
fees &
of
Fees/
Costs/
Location
2011
2010
2009
2008
2007
2006
11
12
14
9
12
9
10
7
84
Total
Total
Total
Total
Total
Total
$425,000
$140,000
$124,000
$79,381
$77,779
$67,364
$59,978
$28,723
$1,002,225
$95,623
$90,829
$77,473
$58,702
$54,660
$51,949
$429,236
12
14
10
9
7
13
65
$4,838
$4,529
$5,596
$6,522
$3,667
$3,155
$4,658
$7,969
$6,488
$7,747
$6,522
$7,809
$3,996
$6,604
$233,991
$30,072
$26,365
$26,365
$18,575
$11,150
39
9
9
9
9
9
$3,775
$3,341
$2,929
n/a
n/a
n/a
$6,000
$3,341
$2,929
$2,929
$2,064
$1,239
Page 166
Schedule 8
Director Fees &
Expenses
British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Atlantic Provinces
Total 2012
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
fees &
of
Fees/
Costs/
Number of CUs expenses Directors Director Director
18
12
8
19
22
6
85
$2,872,289
$1,440,752
$1,002,225
$2,215,450
$3,130,405
$429,236
$11,090,357
168
114
84
177
237
65
845
$13,620
$9,780
$9,556
$8,326
$10,633
$631
$9,752
$17,097
$12,638
$11,931
$12,517
$13,208
$6,604
$13,125
80
81
92
75
73
82
$11,025,881
$9,627,338
$8,877,467
$9,168,132
$7,360,671
$6,345,976
813
797
884
764
713
790
$9,766
$9,759
$7,579
n/a
n/a
n/a
$13,562
$12,079
$10,042
$12,000
$10,324
$8,033
Page 167
Disclosure Regulations-IAS 24 Related Party Disclosures
IAS 24 - Related Party Disclosures
IAS 24 Related Party Disclosures was issued on January 1, 2012. A related party is a
person or an entity that is related to the Credit Union.A person or a close member of that
person’s family is related to the Credit Union if that person:
1. Has control or joint control over the Credit Union, with the power to govern the
Credit Union’s financial and operating policies;
2. Has significant influence over the Credit Union, participating in financial and
operating policy decisions, but not control over these policies; or
3. Is a member of the key management personnel of the Credit Union. Key
management personnel, consistent with the definition under IAS 24, Related
Party Disclosures, are persons having authority and responsibility for planning,
directing and controlling the activities of the Credit Union, directly or indirectly,
including any director of the Credit Union.
An entity shall disclose key management personnel compensation in total and for each of
the following categories:
(a) short-term employee benefits;
(b) post-employment benefits;
(c) other long-term benefits;
(d) termination benefits; and
(e) share-based payment
Page 168
Schedule 8a
IAS 24 Related Party Disclosure
Key Management Compensation
British Columbia
Location
1
Vancouver
339,205
7,942
2.34%
2
North Shore
North Vancouver
48,386
5,454
11.27%
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
Westminster Savings
Prospera
Island Savings
Coastal Community
Interior Savings
Kootenay Savings
Community Savings
Nelson & District
VantageOne
Salmon Arm Savings
Northern Savings
Integris
Lake View
First
Bulkley Valley
Columbia Valley
Sunshine Coast
Surrey
New Westminster
Abbotsford
Langley
Duncan
Nanaimo
Kelona
Trail
Vancouver
Surrey
Nelson
Vernon
Grand Forks
Salmon Arm
Prince Rupert
Prince George
Cranbrook
Summerland
Dawson Creek
Powell River
Ladysmith
Smithers
Golden
Gibsons
Creston
Osoyoos
Burnaby
229,459
56,132
51,381
161,799
42,046
64,438
62,815
27,670
26,172
11,492
6,260
9,264
5,699
13,814
19,615
19,445
7,635
4,878
9,330
10,852
3,670
9,259
2,821
10,069
2,593
2,417
5,046
1,263,660
5,010
4,176
3,897
3,304
2,580
2,179
2,073
2,061
1,951
1,376
1,369
1,182
1,181
1,019
882
839
829
802
757
707
686
658
632
630
445
322
311
55,252
2.18%
7.44%
7.58%
2.04%
6.14%
3.38%
3.30%
7.45%
7.45%
11.97%
21.88%
12.76%
20.72%
7.38%
4.50%
4.31%
10.86%
16.43%
8.11%
6.52%
18.68%
7.11%
22.40%
6.25%
17.17%
13.33%
6.15%
4.37%
Creston & District
Osoyoos
Total 2012
KMP/
Operating KMP Operating
Expenses Costs Expenses
Page 169
Schedule 8a
Alberta
1
2
3
4
5
6
7
8
9
10
11
12
13
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
KMP/
Location
Servus
Mountain View
Battle River
Lakeland
Wainwright
Chinook
1st Choice Savings
Rocky
Christian
Beaumont
Bow Valley
Shell Employees'
Total 2012
Edmonton
292,912
Calgary
64,648
Olds
13,189
Camrose
10,961
Bonnyville
9,358
Wainwright
8,846
Brooks
20,909
Leithbridge
11,421
Rocky Mountain House 5,334
Edmonton
3,490
Beaumont
4,155
Cochrane
6,761
Calgary
2,747
454,730
Schedule 8a
Manitoba
Location
Steinbach
Westoba
Cambrian
Sunrise
Assiniboine
Sunova
Access
Noventis
Crosstown Civic
Dauphin Plains
Portage
Niverville
Casera
Carpathia
Starbuck
Rosenort
Winnipeg Police
Steinbach
Brandon
Winnipeg
Treherne
Winnipeg
Selkirk
Winnipeg
Gimli
Winnipeg
Dauphin
Portage La Prairie
Niverville
Winnipeg
Winnipeg
Winnipeg
Rosenort
Winnipeg
Total 2012
4,259
3,997
3,268
2,415
1,460
1,430
1,316
869
638
596
547
544
473
21,811
1.45%
6.18%
24.78%
22.03%
15.60%
16.16%
6.29%
7.61%
11.96%
17.08%
13.17%
8.05%
17.20%
4.80%
KMP/
46,236
25,213
28,262
23,474
66,929
18,613
24,665
10,346
12,417
5,136
5,628
4,259
5,731
5,084
2,655
2,621
2,414
289,685
3,618
3,198
2,853
2,169
1,725
1,618
1,612
1,237
1,008
804
647
629
583
580
461
461
331
23,533
7.82%
12.68%
10.09%
9.24%
2.58%
8.70%
6.53%
11.95%
8.12%
15.64%
11.50%
14.76%
10.17%
11.42%
17.36%
17.58%
13.72%
8.12%
Page 170
Schedule 8a
Ontario
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
Location
Meridian
Alterna Savings
Windsor Family
Libro
First Ontario
Kawartha
Ukrainian
Mennonite Savings
Northern
United Communities
Buduchnist
Hamilton Teachers
PenFinancial
Your
Sudbury
Sydenham Community
Copperfin
Estonian
Northern Lights
Hald-Nor Community
Total 2012
St. Catharines
Ottawa
Windsor
London
Toronto
Hamilton
Peterborough
Toronto
Kitchener
Sault Ste. Marie
Essex
Toronto
Hamilton
Welland
Sault Ste. Marie
Ottawa
Sudbury
Strathroy
Kenora
Toronto
Thunder Bay
Caledonia
KMP/
154,944
65,491
18,711
36,810
20,613
41,094
30,043
12,110
17,853
30,082
20,807
9,829
11,824
9,170
10,868
6,698
8,276
4,479
6,814
1,415
8,121
3,777
529,828
4,342
2,748
2,176
2,040
2,039
1,835
1,627
1,116
1,049
1,041
1,013
940
730
686
657
613
601
597
475
450
349
259
27,382
2.80%
4.20%
11.63%
5.54%
9.89%
4.47%
5.42%
9.22%
5.88%
3.46%
4.87%
9.56%
6.17%
7.48%
6.04%
9.15%
7.26%
13.34%
6.98%
31.82%
4.29%
6.86%
5.17%
Page 171
Schedule 8a
Saskatchewan
1
2
3
4
5
6
7
8
9
10
11
12
13
14
1
2
3
4
5
6
KMP/
Location
Affinity
Innovation
Conexus
Synergy
Cornerstone
Spectra
TCU Financial Group
Weyburn
Advantage
Diamond North
Prairie Centre
Horizon
Unity
Shaunavon
Total 2012
Saskatoon
North Battleford
Regina
Lloydminster
Yorkton
Estevan
Saskatoon
Weyburn
Melfort
Nipawin
Rosetown
Melville
Unity
Shaunavon
Schedule 8a
Atlantic Provinces
Location
Bayview
Eagle River
East Coast
Bergengren
Total 2012
St. John
St. John's
L'Anse au Loop
Darmouth
Antigonish
Halifax
73,782
49,111
113,271
27,825
24,510
20,941
12,861
9,849
17,893
10,409
12,479
5,364
4,150
2,959
385,403
3,616
2,798
2,104
1,634
1,275
1,104
1,068
989
932
861
836
667
491
467
18,843
4.90%
5.70%
1.86%
5.87%
5.20%
5.27%
8.31%
10.04%
5.21%
8.27%
6.70%
12.44%
11.84%
15.78%
4.89%
KMP/
11,558
16,429
5,284
14,886
7,624
12,081
67,862
855
3,593
801
1,040
648
449
7,388
7.40%
21.87%
15.17%
6.99%
8.50%
3.72%
10.89%
Page 172
Schedule 8a
Provincial Breakdown
British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Atlantic Provinces
Total 2012
KMP/
Number of CUs Expenses Costs Expenses
29
13
14
17
22
6
101
1,263,660
454,730
385,403
289,685
529,828
67,862
2,991,167
55,252
21,811
18,843
23,533
27,382
7,388
154,209
4.37%
4.80%
4.89%
8.12%
5.17%
10.89%
5.16%
Page 173
Schedule 9
Branches & Membership
British Columbia
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
#
31
31
32
28
26
27
North Shore
Northern Savings
Westminster Savings
Prospera
Community Savings
Columbia Valley
Revelstoke*
Nelson & District
Interior Savings
Aldergrove
Salmon Arm Savings
Sharons*
Osoyoos
Kootenay Savings
Sunshine Coast
Lake View
First
Island Savings
VantageOne
Coastal Community
Integris
Creston & District
Bulkley Valley
Total 2012
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Members Deposits
Branches Members /Branch (000s)
Deposits/
Assets/
Branch Assets Member
($Mils) ($Mils)
12
4
15
5
16
38
7
1
58
1
3
5
21
5
3
3
5
53
3
1
12
3
3
3
15
1
4
24
1
7
1
4
3
1
341
39,696
18,133
55,467
26,358
57,107
154,370
11,947
4,093
491,770
5,000
5,482
6,880
73,469
18,986
11,589
19,001
9,073
504,054
9,861
5,000
39,421
15,367
12,080
9,937
59,626
9,314
12,120
79,799
6,380
25,057
5,803
15,004
11,000
10,537
1,838,781
3,308
4,533
3,698
5,272
3,569
4,062
1,707
4,093
8,479
5,000
1,827
1,376
3,499
3,797
3,863
6,334
1,815
9,510
3,287
5,000
3,285
5,122
4,027
3,312
3,975
9,314
3,030
3,325
6,380
3,580
5,803
3,751
3,667
10,537
5,392
1,959,046
697,946
1,900,788
993,785
1,995,355
4,963,959
402,228
110,410
14,424,846
151,210
159,077
190,346
1,796,895
482,282
289,692
482,824
225,523
11,119,944
217,669
111,109
831,648
337,275
269,995
207,721
1,228,078
201,395
242,117
1,579,532
123,726
486,999
100,598
255,000
182,276
167,130
48,888,426
$163.3
$174.5
$126.7
$198.8
$124.7
$130.6
$57.5
$110.4
$248.7
$151.2
$53.0
$38.1
$85.6
$96.5
$96.6
$160.9
$45.1
$209.8
$72.6
$111.1
$69.3
$112.4
$90.0
$69.2
$81.9
$201.4
$60.5
$65.8
$123.7
$69.6
$100.6
$63.7
$60.8
$167.1
$143.4
2,199.4
821.5
2,291.1
1,088.0
2,316.0
5,886.7
429.6
143.3
17,055.8
163.3
174.6
204.5
2,077.2
533.0
317.4
519.1
241.3
12,599.5
242.7
121.7
958.1
369.7
288.0
236.9
1,411.4
217.5
264.6
1,699.8
134.9
523.1
118.1
278.2
194.5
183.3
56,304
$55,406
$45,307
$41,306
$41,278
$40,555
$38,134
$35,958
$35,015
$34,683
$32,666
$31,843
$29,729
$28,274
$28,076
$27,390
$27,322
$26,597
$24,996
$24,609
$24,339
$24,305
$24,057
$23,842
$23,839
$23,671
$23,354
$21,830
$21,300
$21,151
$20,877
$20,346
$18,544
$17,684
$17,400
$30,620
339
343
326
323
323
309
1,658,463
1,616,141
1,563,560
1,525,204
1,467,912
1,447,673
4,980
4,767
4,796
4,722
4,545
4,685
44,904,683
42,811,643
39,913,743
37,855,600
35,917,600
33,619,200
$132.5
$124.8
$122.4
$117.2
$111.2
$108.8
52,601
48,092
45,657
44,173
41,891
37,980
$31,486
$29,581
$29,086
$28,962
$28,538
$26,235
Page 174
Schedule 9
Alberta
1
2
3
4
5
6
7
8
9
10
11
12
13
#
12
12
14
13
12
13
Lakeland
Shell Employees'
Rocky
Wainwright
Beaumont
Chinook
Battle River
Servus
Mountain View
Bow Valley
1st Choice Savings
Christian
Total 2012
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Members Deposits
Deposits/
Assets/
($Mils) ($Mils)
2
1
1
7
1
11
11
101
16
12
6
5
2
176
10,678
5,960
7,901
10,159
5,938
22,114
17,092
373,468
82,307
18,036
9,088
16,418
10,000
589,159
5,339
5,960
7,901
1,451
5,938
2,010
1,554
3,698
5,144
1,503
1,515
3,284
5,000
3,347
458,451
194,009
275,313
343,574
199,839
731,308
498,396
10,996,887
2,444,815
513,560
254,540
386,720
203,648
17,501,060
$229.2
$194.0
$275.3
$49.1
$199.8
$66.5
$45.3
$108.9
$152.8
$42.8
$42.4
$77.3
$101.8
$99.4
533.9
264.5
308.1
378.0
218.3
806.8
579.3
12,185.3
2,662.6
563.6
274.6
417.9
217.8
19,410
$50,002
$44,372
$38,993
$37,206
$36,762
$36,482
$33,891
$32,627
$32,349
$31,249
$30,214
$25,451
$21,779
$32,946
164
165
168
153
153
137
571,573
563,424
625,514
554,416
554,674
488,565
3,485
3,415
3,723
3,630
3,625
3,566
15,911,919
15,373,468
14,489,249
13,372,200
11,643,300
10,165,400
$97.0
$93.2
$86.2
$87.4
$76.1
$74.2
17,600
16,947
15,976
14,768
13,211
10,904
$30,792
$30,078
$25,237
$26,637
$23,818
$22,318
Page 175
Schedule 9
Manitoba
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
#
20
19
20
16
12
16
Crosstown Civic
Rosenort
Cambrian
Steinbach
Access
Entegra
Starbuck
Sunrise
Winnipeg Police
Westoba
Niverville
Assiniboine
Sunova
Vanguard*
Carpathia
Portage
Casera
Dauphin Plains
Swan Valley*
Noventis
Oakbank*
Total 2012
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Members Deposits
Deposits/
Assets/
($Mils) ($Mils)
8
1
11
3
14
3
1
13
1
21
2
25
12
11
3
3
3
1
3
8
2
149
29,927
4,383
52,279
77,634
35,621
13,174
4,828
21,299
4,606
34,748
7,576
109,030
28,976
12,338
12,541
8,544
11,427
7,888
9,133
21,883
8,800
516,635
3,741
4,383
4,753
25,878
2,544
4,391
4,828
1,638
4,606
1,655
3,788
4,361
2,415
1,122
4,180
2,848
3,809
7,888
3,044
2,735
4,400
3,467
1,580,773
231,620
2,560,334
3,714,996
1,382,191
451,799
162,461
691,159
145,508
1,077,809
229,729
3,202,769
818,175
328,575
333,800
226,399
288,555
202,384
217,445
450,201
179,892
18,476,575
$197.6
$231.6
$232.8
$1,238.3
$98.7
$150.6
$162.5
$53.2
$145.5
$51.3
$114.9
$128.1
$68.2
$29.9
$111.3
$75.5
$96.2
$202.4
$72.5
$56.3
$89.9
$124.0
1,698.6
248.3
2,764.2
3,962.5
1,507.2
501.9
173.1
748.8
157.6
1,165.1
249.6
3,431.5
907.5
356.5
358.1
243.0
314.1
216.8
233.0
485.9
189.8
19,913
$56,757
$56,660
$52,875
$51,041
$42,313
$38,100
$35,845
$35,154
$34,227
$33,530
$32,948
$31,473
$31,318
$28,897
$28,557
$28,443
$27,490
$27,483
$25,514
$22,206
$21,569
$38,544
136
134
137
109
91
102
485,311
468,344
463,617
416,485
387,822
367,678
3,622
3,575
3,384
3,821
4,262
3,605
16,117,012
14,435,978
13,254,905
10,594,800
8,854,300
7,905,000
$118.5
$107.7
$96.8
$97.2
$97.3
$77.5
17,357
15,579
14,265
11,567
9,579
8,560
$34,937
$32,543
$29,827
$27,772
$24,700
$23,280
Page 176
Schedule 9
Ontario
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
#
36
35
35
32
31
31
Members Deposits
Mennonite Savings
8
Meridian
71
Parama Lithuanian*
2
16
Libro
15
Buduchnist
9
Windsor Family
6
Hamilton Teachers
6
16
Lambton Financial*
4
Hald-Nor Community
4
3
Alterna Savings
24
Sydenham Community
5
Ukrainian
15
Estonian
1
PenFinancial
6
First Ontario
24
Kawartha
25
United Communities
11
1
The Police*
5
Sudbury
8
Prosperity One*
5
Copperfin
1
Your
10
4
Education*
3
4
Northern
26
1
Northern Lights
1
Momentum*
4
Healthcare & Municipal Employees'* 7
Total 2012
351
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
363
338
327
304
299
287
Deposits/
Assets/
($Mils) ($Mils)
18,981
262,360
6,666
41,034
58,393
20,938
31,470
16,168
28,311
8,125
5,322
14,588
103,124
7,802
25,764
4,809
15,474
88,374
49,462
36,040
7,708
11,952
17,230
11,556
11,151
12,476
12,775
10,275
13,104
52,030
16,287
1,019,749
2,373
3,695
3,333
2,565
3,893
2,326
5,245
2,695
1,769
2,031
1,331
4,863
4,297
1,560
1,718
4,809
2,579
3,682
1,978
3,276
7,708
2,390
2,154
2,311
11,151
1,248
3,194
3,425
3,276
2,001
16,287
2,905
724,156
7,168,152
200,363
1,154,886
1,507,902
547,718
782,659
336,247
497,309
182,928
114,005
303,342
2,152,673
163,198
505,787
99,794
291,602
1,299,132
793,098
618,349
102,113
216,387
296,875
182,881
173,887
181,979
170,979
144,602
165,154
645,614
121,065
151,088
144,975
146,257
22,287,157
$90.5
$101.0
$100.2
$72.2
$100.5
$60.9
$130.4
$56.0
$31.1
$45.7
$28.5
$101.1
$89.7
$32.6
$33.7
$99.8
$48.6
$54.1
$31.7
$56.2
$102.1
$43.3
$37.1
$36.6
$173.9
$18.2
$42.7
$48.2
$41.3
$24.8
$121.1
$151.1
$36.2
$20.9
$63.5
826.7
8,745.4
215.3
1,277.2
1,736.2
622.0
908.0
438.5
725.9
200.1
125.2
339.1
2,386.2
178.3
583.8
108.8
330.0
1,805.6
965.9
703.1
148.9
229.1
326.7
204.7
190.3
204.1
203.8
159.0
181.2
712.7
144.0
162.2
159.8
159.4
26,407
$43,552
$33,334
$32,301
$31,125
$29,734
$29,706
$28,853
$27,120
$25,639
$24,633
$23,522
$23,244
$23,139
$22,857
$22,660
$22,616
$21,327
$20,432
$19,529
$19,509
$19,312
$19,165
$18,959
$17,713
$17,062
$16,361
$15,951
$15,479
$13,831
$13,698
$8,839
$25,896
1,072,199
1,015,923
1,020,550
1,002,579
999,206
990,649
3,117
3,033
3,121
3,298
3,342
3,452
21,638,859
18,692,684
17,238,540
15,625,600
14,142,700
13,087,200
$59.6
$55.3
$52.7
$51.4
$47.3
$45.6
24,527
20,816
19,330
17,563
16,060
14,942
$22,170
$20,147
$18,941
$17,518
$16,073
$15,083
Page 177
Schedule 9
Saskatchewan
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
#
13
14
15
10
10
11
Weyburn
Shaunavon
Synergy
TCU Financial Group
Prairie Centre
Unity
Conexus
Spectra
Innovation
Cornerstone
Advantage
Diamond North
Biggar & District*
Horizon
Crossroads*
Affinity
Plainsview*
Total 2012
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Members Deposits
3
3
11
4
11
2
47
11
27
15
18
8
2
5
5
44
10
226
8,063
2,893
28,356
14,429
12,952
4,841
114,497
20,107
47,163
23,293
13,464
11,174
4,654
6,329
8,500
101,747
422,462
2,688
964
2,578
3,607
1,177
2,421
2,436
1,828
1,747
1,553
748
1,397
2,327
1,266
1,700
2,312
1,869
382,420
114,926
984,475
500,761
441,926
162,594
3,515,938
660,085
1,479,698
724,482
410,232
332,168
131,862
163,455
199,692
2,213,398
188,400
12,606,511
$127.5
$38.3
$89.5
$125.2
$40.2
$81.3
$74.8
$60.0
$54.8
$48.3
$22.8
$41.5
$65.9
$32.7
$39.9
$50.3
$18.8
$55.8
419.2
128.0
1,128.5
552.5
477.1
178.1
4,202.0
720.1
1,656.9
806.6
445.8
360.3
145.6
176.3
216.0
2,473.9
204.5
14,291
$51,992
$44,231
$39,796
$38,288
$36,832
$36,785
$36,700
$35,811
$35,132
$34,629
$33,113
$32,248
$31,289
$27,851
$25,412
$24,314
$33,829
208
207
215
184
143
143
406,428
421,271
407,165
364,967
291,885
307,299
1,954
2,035
1,894
1,984
2,041
2,149
10,882,040
10,137,838
10,068,585
8,188,000
5,877,300
5,448,300
$52.3
$49.0
$46.8
$44.5
$41.1
$38.1
12,285
11,158
11,047
9,003
6,766
6,088
$30,226
$26,487
$27,132
$24,667
$23,180
$19,811
Schedule 9
Atlantic Provinces
1
2
3
4
5
6
#
4
4
4
4
4
3
Eagle River
East Coast
Bergengren
Bayview
Total 2012
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Deposits/
Assets/
($Mils) ($Mils)
Members Deposits
Deposits/
Assets/
($Mils) ($Mils)
8
13
6
20
3
9
59
7,643
16,829
6,623
27,693
16,540
28,716
104,044
955
1,295
1,104
1,385
5,513
3,191
1,763
303,489
459,744
92,540
322,100
185,608
307,187
1,670,668
$37.9
$35.4
$15.4
$16.1
$61.9
$34.1
$28.3
328.5
489.0
100.8
360.6
207.9
337.2
1,824
$42,982
$29,056
$15,222
$13,020
$12,573
$11,744
$17,532
35
34
34
34
32
25
73,525
78,315
59,870
70,387
67,351
51,004
2,101
2,303
2,217
2,070
2,105
2,040
1,304,164
1,055,653
1,006,775
890,800
803,200
662,500
$37.3
$31.0
$29.6
$26.2
$25.1
$26.5
1,426
1,150
1,008
1,004
885
720
$19,397
$14,680
$15,983
$14,261
$13,144
$14,117
Page 178
Schedule 9
British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Atlantic Provinces
Total 2012
Total
Total
Total
Total
Total
Total
2011
2010
2009
2008
2007
2006
Members Deposits
Deposits/
Assets/
($Mils) ($Mils)
341
176
226
149
351
59
1,302
1,838,781
589,159
422,462
516,635
1,019,749
104,044
4,490,830
5,392
3,347
1,869
3,467
2,905
1,763
3,449
48,888,426
17,501,060
12,606,511
18,476,575
22,287,157
1,670,668
121,430,397
$143.4
$99.4
$55.8
$124.0
$63.5
$28.3
$93.3
56,304
19,410
14,291
19,913
26,407
1,824
138,150
$30,620
$32,946
$33,829
$38,544
$25,896
$17,532
$30,763
1,245
1,221
1,195
1,088
1,041
1,003
4,267,499
4,163,418
4,124,688
3,875,948
3,768,850
3,652,868
3,504
3,438
3,452
3,562
3,620
3,642
110,758,678
102,507,263
95,590,175
85,493,808
77,242,200
70,912,100
$89.0
$84.0
$80.0
$78.6
$74.2
$70.7
$125,797
113,742
106,956
96,995
88,395
79,194
$29,116
$27,086
$25,704
$24,987
$23,454
$21,680
Page 179
Schedule 10
Loan Committments
British Columbia
(1)
(2)
Unused Commitment
Lines of
to extend
Credit
credit
Total
(1) + (2)
Total/
Net Loans
Location
1
Vancouver
3,151,128
1,189,214
4,340,342
30.3%
2
Westminster Savings
New Westminster
29,035
438,661
467,696
23.3%
3
VantageOne
Vernon
44,320
1,009
45,330
21.9%
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Osoyoos
Salmon Arm Savings
Interior Savings
Coastal Community
Kootenay Savings
Island Savings
North Shore
Prospera
Aldergrove
Integris
Sunshine Coast
Osoyoos
Salmon Arm
Kelona
Surrey
Nanaimo
Trail
Summerland
Grand Forks
Duncan
North Vancouver
Abbotsford
Cranbrook
Aldergrove
Ladysmith
Prince George
Gibsons
Dawson Creek
Creston
Golden
Prince Rupert
Burnaby
Nelson
15,541
82,756
264,710
1,879,369
156,280
128,942
21,321
25,743
160,604
207,850
229,491
23,624
54,210
12,562
48,937
36,002
19,050
6,622
6,088
29,331
6,633,515
1,261
1,540
69,992
104,714
1,617
25,137
66,346
61,367
4,716
2,539
1,747
6,089
3,060
602
798
7,376
8,865
732
1,997,383
16,802
84,296
334,702
1,879,369
260,994
128,942
22,938
25,743
185,741
274,196
290,858
28,340
56,749
14,309
55,027
39,062
19,050
7,224
6,885
36,707
8,865
732
8,630,899
20.2%
19.9%
18.4%
17.5%
17.2%
16.1%
15.8%
15.3%
14.8%
14.2%
13.8%
13.7%
12.8%
12.6%
12.2%
12.0%
11.2%
11.2%
9.2%
5.4%
5.1%
0.7%
21.4%
6,084,398
5,790,884
1,922,137
2,403,437
8,006,535
8,194,321
19.4%
24.3%
21
13
Lake View
Creston & District
Columbia Valley
Northern Savings
Nelson & District
Total 2012
Total 2011
Total 2010
Page 180
Schedule 10
Loan Committments
Alberta
(1)
Unused
Lines of
Credit
Location
1
2
3
4
5
6
7
8
9
10
11
12
13
Christian
Chinook
Rocky
Servus
Lakeland
Shell Employees'
Battle River
Bow Valley
1st Choice Savings
Mountain View
Beaumont
Wainwright
Total 2012
Edmonton
Brooks
Edmonton
Bonnyville
Calgary
Camrose
Calgary
Cochrane
Leithbridge
Olds
Beaumont
Wainwright
12
12
Total 2011
Total 2010
Schedule 10
Loan Committments
Manitoba
-
20,080
20,080
-
Total
(1) + (2)
Total/
Net Loans
49,301
172,225
49,264
2,460,889
97,276
43,199
85,332
420,492
39,954
61,927
78,950
33,034
4,468
3,596,310.5
49,301
172,225
49,264
2,460,889
97,276
43,199
85,332
420,492
39,954
61,927
78,950
33,034
24,547
3,616,390.3
38.6%
25.4%
23.1%
23.1%
22.4%
21.2%
19.3%
19.2%
18.8%
18.2%
18.0%
17.8%
8.7%
22.1%
3,205,043.8
2,947,973.2
3,205,043.8
2,947,973.2
21.2%
20.5%
(1)
Unused
Lines of
Credit
Location
1
2
3
4
5
6
7
8
9
10
11
12
13
14
Access
Westoba
Starbuck
Cambrian
Sunrise
Carpathia
Dauphin Plains
Sunova
Portage
Winnipeg Police
Crosstown Civic
Niverville
Casera
Rosenort
Total 2012
Winnipeg
Brandon
Winnipeg
Winnipeg
Treherne
Winnipeg
Dauphin
Selkirk
Portage La Prairie
Winnipeg
Winnipeg
Niverville
Winnipeg
Rosenort
13
16
Total 2011
Total 2010
(2)
Commitment
to extend
credit
252,927
115,290
22,977
300,707
97,046
31,266
28,536
(2)
Commitment
to extend
credit
Total
(1) + (2)
Total/
Net Loans
34,889
16,705
119,718
14,362
20,080
1,054,502
77,923
117,000
14,717
183,861
41,425
27,623
6,754
137,044
672
4,895
70,834
12,218
4,468
15,511
714,945
330,850
232,290
37,694
484,568
138,471
58,889
35,290
137,044
35,560
21,600
190,553
26,580
24,547
15,511
1,769,448
25.3%
25.1%
23.7%
22.2%
21.4%
19.5%
18.9%
17.9%
17.3%
15.3%
14.2%
13.3%
8.7%
8.3%
20.0%
1,364,076
788,741
458,783
669,900
1,822,858
1,458,641
18.1%
15.7%
Page 181
Schedule 10
Loan Committments
Ontario
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
26
21
(1)
Unused
Lines of
Credit
Location
Mennonite Savings
Kitchener
Your
Ottawa
Alterna Savings
Ottawa
Libro
London
Hamilton Teachers
Hamilton
Sydenham Community
Strathroy
Hald-Nor Community
Caledonia
Windsor Family
Windsor
Northern
Sault Ste. Marie
Ukrainian
Toronto
United Communities
Essex
Copperfin
Kenora
Buduchnist
Toronto
PenFinancial
Welland
Estonian
Toronto
Kawartha
Peterborough
Sudbury
Sudbury
Northern Lights
Thunder Bay
Toronto
First Ontario
Hamilton
Meridian
St. Catharines
Total 2012
Total 2011
Total 2010
(2)
Commitment
to extend
credit
Total
(1) + (2)
Total/
Net Loans
161,652
43,844
478,456
299,930
97,017
32,628
60,480
16,148
68,706
106,285
96,822
104,298
18,623
90,135
44,629
10,684
117,838
28,819
14,582
121,475
180,200
177,272
2,370,523
57,242
7,842
90,603
68,979
886
3,142
7,024
5,336
93,566
18,677
3,831
12,977
9,125
3,747
1,006
1,160
15,960
9,461
4,524
15,086
32,800
306,712
769,687
218,894
51,686
569,059
368,909
97,903
35,770
67,504
21,485
162,272
124,962
100,653
117,275
27,748
93,882
45,635
11,845
133,797
38,280
19,107
136,561
213,000
483,984
3,140,210
29.7%
29.3%
27.5%
25.8%
24.9%
23.4%
23.1%
20.9%
20.8%
20.3%
19.9%
19.3%
17.8%
17.2%
16.2%
16.1%
15.6%
14.5%
13.8%
13.3%
13.2%
6.5%
15.5%
3,860,694
2,857,239
705,233
559,702
4,565,928
3,416,941
24.3%
23.6%
Page 182
Schedule 10
Loan Committments
Saskatchewan
(1)
Unused
Lines of
Credit
Location
1
2
3
4
5
6
7
8
9
10
11
12
13
14
Spectra
Synergy
TCU Financial Group
Conexus
Innovation
Affinity
Shaunavon
Advantage
Cornerstone
Prairie Centre
Unity
Weyburn
Diamond North
Horizon
Total 2012
Estevan
Lloydminster
Saskatoon
Regina
North Battleford
Saskatoon
Shaunavon
Melfort
Yorkton
Rosetown
Unity
Weyburn
Nipawin
Melville
12
14
Total 2011
Total 2010
(2)
Commitment
to extend
credit
Total
(1) + (2)
Total/
Net Loans
62,646
192,477
76,262
280,929
243,811
9,577
63,302
79,096
64,493
17,962
31,700
35,693
13,386
1,171,335
72,497
61,125
38,069
565,769
279,583
214,485
6,216
6,690
40,377
3,418
3,873
25,973
12,870
7,428
1,338,374
135,143
253,602
114,331
846,698
279,583
458,296
15,793
69,993
119,473
67,912
21,835
57,673
48,563
20,814
2,509,709
29.2%
28.5%
25.8%
24.7%
23.3%
22.7%
22.1%
19.4%
19.2%
17.9%
17.8%
17.5%
17.0%
15.9%
23.4%
999,196
829,381
1,220,129
1,080,082
2,219,325
1,909,463
23.8%
22.2%
Page 183
Schedule 10
Loan Committments
Atlantic Provinces
Location
1
2
3
Bayview
East Coast
Bergengren
Total 2012
St. John
Darmouth
Antigonish
2
Total 2011
Schedule 10
Loan Committments
25
13
14
14
22
3
91
British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Atlantic Provinces
Total 2012
86
76
Total 2011
Total 2010
(1)
Unused
Lines of
Credit
(2)
Commitment
to extend
credit
Total
(1) + (2)
Total/
Net Loans
33,295
29,289
15,199
77,783
207
846
1,052
33,295
29,495
16,045
78,836
12.5%
11.4%
9.1%
11.3%
56,918
2,436
59,354
12.1%
Location
(1)
Unused
Lines of
Credit
6,633,515
20,080
1,171,335
1,054,502
2,370,523
77,783
11,327,739
12,365,282
10,266,246
(2)
Commitment
to extend
credit
1,997,383
3,596,310
1,338,374
714,945
769,687
1,052
8,417,752
7,513,763
7,661,094
Total
(1) + (2)
8,630,899
3,616,390
2,509,709
1,769,448
3,140,210
78,836
19,745,491
19,879,045
17,927,340
Total/
Net Loans
21.4%
22.1%
23.4%
20.0%
15.5%
11.3%
20.3%
20.9%
22.3%
Page 184
Schedule 11
Liquidity analysis
British Columbia
Cash &
Securities
Cash &
Deposits Securities/
Deposits
Location
1
Columbia Valley
Golden
$65,220
110,410
59.1%
2
Creston & District
Creston
$48,362
100,598
48.1%
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Lake View
Nelson & District
Osoyoos
Bulkley Valley
VantageOne
Revelstoke*
Sharons*
Northern Savings
Community Savings
Salmon Arm Savings
Aldergrove
Kootenay Savings
Westminster Savings
First
North Shore
Sunshine Coast
Dawson Creek
Nelson
Osoyoos
Williams Lake
Fort St. John
Smithers
Grand Forks
Vernon
Revelstoke
Vancouver
Summerland
Prince Rupert
Surrey
Salmon Arm
Vancouver
Aldergrove
Burnaby
Surrey
Trail
New Westminster
Powell River
Ladysmith
Cranbrook
North Vancouver
Vancouver
Langley
Gibsons
Kelona
Prince George
Duncan
Abbotsford
Nanaimo
$109,797
$56,516
$33,900
$47,303
$73,740
$64,368
$45,533
$48,524
$30,007
$43,583
$30,566
$127,443
$69,380
$81,229
$2,414,998
$78,766
$28,892
$1,677,986
$117,870
$257,732
$27,139
$15,403
$26,302
$222,931
$111,484
$552,378
$36,978
$196,702
$51,197
$128,137
$190,229
$142,865
7,253,462
269,995
159,077
111,109
182,276
289,692
255,000
201,395
242,117
151,210
225,523
167,130
697,946
402,228
482,824
14,424,846
482,282
190,346
11,119,944
831,648
1,900,788
207,721
123,726
217,669
1,959,046
993,785
4,963,959
337,275
1,796,895
486,999
1,228,078
1,995,355
1,579,532
48,888,426
40.7%
35.5%
30.5%
26.0%
25.5%
25.2%
22.6%
20.0%
19.8%
19.3%
18.3%
18.3%
17.2%
16.8%
16.7%
16.3%
15.2%
15.1%
14.2%
13.6%
13.1%
12.4%
12.1%
11.4%
11.2%
11.1%
11.0%
10.9%
10.5%
10.4%
9.5%
9.0%
14.8%
7,327,760
6,890,449
44,904,683
42,811,643
16.3%
16.1%
30
31
Interior Savings
Integris
Island Savings
Prospera
Coastal Community
Total 2012
Total 2011
Total 2010
Page 185
Schedule 11
Liquidity analysis
Alberta
Location
1
2
3
4
5
6
7
8
9
10
11
12
13
Christian
Rocky
Shell Employees'
Battle River
Wainwright
Bow Valley
Lakeland
Mountain View
1st Choice Savings
Chinook
Beaumont
Servus
Total 2012
Edmonton
Calgary
Camrose
Wainwright
Cochrane
Bonnyville
Olds
Leithbridge
Calgary
Brooks
Beaumont
Edmonton
12
12
Total 2011
Total 2010
Cash &
Securities
Cash &
Deposits
$86,030
$91,953
$59,624
$129,424
$87,294
$51,942
$92,122
$102,563
$68,383
$394,533
$107,547
$27,631
$1,092,684
2,391,731
203,648
275,313
194,009
498,396
343,574
254,540
458,451
513,560
386,720
2,444,815
731,308
199,839
10,996,887
17,501,060
42.2%
33.4%
30.7%
26.0%
25.4%
20.4%
20.1%
20.0%
17.7%
16.1%
14.7%
13.8%
9.9%
13.7%
1,836,295
1,950,897
15,911,919
15,373,468
11.5%
12.7%
Page 186
Schedule 11
Liquidity analysis
Saskatchewan
Location
1
Shaunavon
Shaunavon
2
Spectra
Estevan
3
Unity
4
Other Cash &
Securities
Securities
Cash &
Deposits
54,165
114,926
47.1%
231,463
660,085
35.1%
Unity
51,888
162,594
31.9%
Biggar & District*
Biggar
41,880
131,862
31.8%
5
Crossroads*
Canora
56,228
199,692
28.2%
6
Innovation
North Battleford
1,479,698
26.9%
7
Horizon
Melville
41,301
163,455
25.3%
8
Cornerstone
Yorkton
160,174
724,482
22.1%
9
Weyburn
Weyburn
78,906
382,420
20.6%
10 Diamond North
Nipawin
66,452
332,168
20.0%
11 Synergy
Lloydminster
194,200
984,475
19.7%
12 Prairie Centre
Rosetown
85,736
441,926
19.4%
13 Conexus
Regina
3,515,938
18.3%
Saskatoon
90,583
500,761
18.1%
15 Advantage
Melfort
70,340
410,232
17.1%
16 Affinity
Saskatoon
398,046
645,092
361,212
2,213,398
16.3%
Total 2012
2,627,666
12,418,111
21.2%
13
Total 2011
2,442,771
10,882,040
22.4%
15
Total 2010
2,161,578
10,148,254
21.3%
Page 187
Schedule 11
Liquidity analysis
Manitoba
Location
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Rosenort
Swan Valley*
Crosstown Civic
Cambrian
Niverville
Noventis
Westoba
Steinbach
Oakbank*
Assiniboine
Carpathia
Vanguard*
Portage
Dauphin Plains
Access
Sunrise
Sunova
Winnipeg Police
Casera
Entegra
Starbuck
Total 2012
Rosenort
Swan River
Winnipeg
Winnipeg
Niverville
Gimli
Brandon
Steinbach
Oak Bank
Winnipeg
Winnipeg
Rossburn
Portage La Prairie
Dauphin
Winnipeg
Treherne
Selkirk
Winnipeg
Winnipeg
Winnipeg
Winnipeg
20
19
Total 2011
Total 2010
Cash &
Securities
Cash &
Deposits
$59,096
$52,512
$344,572
$556,742
$45,588
$85,879
$201,801
$694,047
$33,099
$549,478
$51,451
$49,551
$32,121
$26,223
$174,091
$75,794
$80,834
$13,656
$26,977
$34,487
$11,311
3,199,309
231,620
217,445
1,580,773
2,560,334
229,729
450,201
1,077,809
3,714,996
179,892
3,202,769
333,800
328,575
226,399
202,384
1,382,191
691,159
818,175
145,508
288,555
451,799
162,461
18,476,575
25.5%
24.1%
21.8%
21.7%
19.8%
19.1%
18.7%
18.7%
18.4%
17.2%
15.4%
15.1%
14.2%
13.0%
12.6%
11.0%
9.9%
9.4%
9.3%
7.6%
7.0%
17.3%
2,421,246
2,099,336
16,117,012
14,435,978
15.0%
14.5%
Page 188
Schedule 11
Liquidity analysis
Ontario
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
36
35
Location
Estonian
Toronto
Momentum*
Hamilton
Toronto
Lambton Financial*
Sarnia
Toronto
Sudbury
Sudbury
Libro
London
Parama Lithuanian*
Toronto
Meridian
St. Catharines
Hald-Nor Community
Caledonia
Copperfin
Kenora
Hamilton
PenFinancial
Welland
Alterna Savings
Ottawa
Ukrainian
Toronto
Sydenham Community
Strathroy
Windsor Family
Windsor
Barrie
First Ontario
Hamilton
Waterloo
United Communities
Essex
Windsor
Northern Lights
Thunder Bay
The Police*
Toronto
Hamilton Teachers
Hamilton
Sault Ste. Marie
Toronto
Northern
Sault Ste. Marie
Buduchnist
Toronto
Your
Ottawa
Mennonite Savings
Kitchener
Kawartha
Peterborough
Prosperity One*
Milton
Education*
Kitchener
Total 2012
Total 2011
Total 2010
Cash &
Securities
Cash &
Deposits
$34,546
$40,712
$31,133
$42,947
$227,147
$56,066
$274,190
$35,114
$1,231,053
$18,512
$27,750
$21,831
$40,937
$285,680
$66,385
$21,170
$100,035
$13,026
$164,090
$62,154
$75,130
$20,744
$18,026
$25,666
$39,283
$35,364
$19,063
$74,388
$62,908
$20,846
$81,205
$86,345
$19,774
$13,045
3,386,263
99,794
144,975
121,065
182,928
1,154,886
296,875
1,507,902
200,363
7,168,152
114,005
173,887
146,257
291,602
2,152,673
505,787
163,198
782,659
102,113
1,299,132
497,309
618,349
170,979
151,088
216,387
336,247
303,342
165,154
645,614
547,718
181,979
724,156
793,098
182,881
144,602
22,287,157
34.6%
28.1%
25.7%
23.5%
19.7%
18.9%
18.2%
17.5%
17.2%
16.2%
16.0%
14.9%
14.0%
13.3%
13.1%
13.0%
12.8%
12.8%
12.6%
12.5%
12.2%
12.1%
11.9%
11.9%
11.7%
11.7%
11.5%
11.5%
11.5%
11.5%
11.2%
10.9%
10.8%
9.0%
15.2%
3,205,493
2,619,286
21,638,859
18,692,684
14.8%
14.0%
Page 189
Schedule 11
Liquidity analysis
Saskatchewan
Location
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Shaunavon
Plainsview*
Spectra
Unity
Biggar & District*
Crossroads*
Innovation
Horizon
Cornerstone
Weyburn
Diamond North
Synergy
Prairie Centre
Conexus
TCU Financial Group
Advantage
Affinity
Total 2012
Shaunavon
Kipling
Estevan
Unity
Biggar
Canora
North Battleford
Melville
Yorkton
Weyburn
Nipawin
Lloydminster
Rosetown
Regina
Saskatoon
Melfort
Saskatoon
13
15
Total 2011
Total 2010
Cash &
Securities
Cash &
Deposits
$55,360
$72,210
$236,735
$53,153
$41,880
$56,228
$410,538
$42,693
$166,620
$82,091
$69,378
$202,704
$89,089
$674,174
$94,503
$74,464
$380,214
2,802,034
114,926
188,400
660,085
162,594
131,862
199,692
1,479,698
163,455
724,482
382,420
332,168
984,475
441,926
3,515,938
500,761
410,232
2,213,398
12,606,511
48.2%
38.3%
35.9%
32.7%
31.8%
28.2%
27.7%
26.1%
23.0%
21.5%
20.9%
20.6%
20.2%
19.2%
18.9%
18.2%
17.2%
22.2%
2,442,771
2,161,578
10,882,040
10,148,254
22.4%
21.3%
Page 190
Schedule 11
Liquidity analysis
Atlantic Provinces
1
2
3
4
5
6
Location
East Coast
Bayview
Eagle River
Bergengren
Total 2012
Darmouth
St. John
L'Anse au Loop
Antigonish
Halifax
St. John's
4
4
Total 2011
Total 2010
Schedule 11
Liquidity analysis
Cash &
Securities
Cash &
Deposits
$81,498
$60,475
$17,944
$26,472
$36,884
$51,360
274,632
322,100
307,187
92,540
185,608
303,489
459,744
1,670,668
25.3%
19.7%
19.4%
14.3%
12.2%
11.2%
16.4%
200,417
145,190
1,304,164
1,052,101
15.4%
13.8%
Cash &
Deposits
Number of CUs
Cash &
Securities
British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Atlantic Provinces
Total 2012
34
13
21
34
17
6
125
7,253,462
2,391,731
2,802,034
3,199,309
3,386,263
274,632
19,307,431
48,888,426
17,501,060
12,606,511
18,476,575
22,287,157
1,670,668
121,430,397
14.8%
13.7%
22.2%
17.3%
15.2%
16.4%
15.9%
Total
Total
Total
Total
115
115
120
98
17,433,984
15,866,736
16,719,575
12,224,395
110,758,678
102,366,039
176,471,309
85,485,280
15.7%
15.5%
17.0%
14.3%
2011
2010
2009
2008
Page 191
Schedule 11a
Central Shares
British Columbia
Central
Shares
Investments
Central
Shares/
Investments
Location
1
Coastal Community
Nanaimo
5,938
142,865
4.2%
2
Prospera
Abbotsford
7,660
190,229
4.0%
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
Island Savings
Interior Savings
Sunshine Coast
Duncan
Kelona
Langley
Gibsons
Prince George
Cranbrook
Vancouver
North Vancouver
Ladysmith
New Westminster
Trail
Powell River
Burnaby
Surrey
Prince Rupert
Aldergrove
Vancouver
Surrey
Summerland
Salmon Arm
Vernon
Grand Forks
Smithers
Osoyoos
Nelson
Dawson Creek
Creston
Golden
4,788
7,260
19,510
1,295
1,756
886
3,710
7,269
456
7,538
3,394
768
743
41,610
3,033
1,866
57,020
1,564
651
1,661
908
736
965
430
602
950
398
510
185,873
128,137
196,702
552,378
36,978
51,197
26,302
111,484
222,931
15,403
257,732
117,870
27,139
28,892
1,677,986
127,443
78,766
2,414,998
69,380
30,566
81,229
48,524
45,533
64,368
33,900
56,516
109,797
48,362
65,220
7,058,828
3.7%
3.7%
3.5%
3.5%
3.4%
3.4%
3.3%
3.3%
3.0%
2.9%
2.9%
2.8%
2.6%
2.5%
2.4%
2.4%
2.4%
2.3%
2.1%
2.0%
1.9%
1.6%
1.5%
1.3%
1.1%
0.9%
0.8%
0.8%
2.6%
Integris
North Shore
Westminster Savings
Kootenay Savings
First
Northern Savings
Aldergrove
Community Savings
Salmon Arm Savings
VantageOne
Bulkley Valley
Osoyoos
Nelson & District
Lake View
Creston & District
Columbia Valley
Total 2012
Page 192
Schedule 11a
Central Shares
Alberta
1
2
3
4
5
6
7
8
9
10
11
12
13
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Central
Shares
Investments
Central
Shares/
Investments
2,138
7,699
24,613
4,000
5,042
5,528
2,942
6,372
4,500
4,200
2,500
220
4,500
74,254
27,631
107,547
394,533
68,383
92,122
102,563
59,624
129,424
91,953
87,294
86,030
51,942
1,092,684
2,391,731
7.7%
7.2%
6.2%
5.8%
5.5%
5.4%
4.9%
4.9%
4.9%
4.8%
2.9%
0.4%
0.4%
3.1%
Location
Beaumont
Chinook
1st Choice Savings
Lakeland
Mountain View
Shell Employees'
Battle River
Rocky
Wainwright
Christian
Bow Valley
Servus
Total 2012
Beaumont
Brooks
Calgary
Leithbridge
Bonnyville
Olds
Calgary
Camrose
Wainwright
Edmonton
Cochrane
Edmonton
Schedule 11a
Central Shares
Manitoba
Location
Starbuck
Sunrise
Access
Portage
Sunova
Carpathia
Entegra
Casera
Niverville
Steinbach
Winnipeg Police
Rosenort
Assiniboine
Westoba
Dauphin Plains
Crosstown Civic
Noventis
Cambrian
Total 2012
Winnipeg
Treherne
Winnipeg
Portage La Prairie
Selkirk
Winnipeg
Winnipeg
Winnipeg
Niverville
Steinbach
Winnipeg
Rosenort
Winnipeg
Brandon
Dauphin
Winnipeg
Gimli
Winnipeg
Central
Shares
Investments
Central
Shares/
Investments
942
6,291
14,190
2,255
5,542
3,487
2,194
1,653
2,765
39,253
772
2,983
26,777
9,816
1,270
15,960
3,970
25,148
165,267
11,311
75,794
174,091
32,121
80,834
51,451
34,487
26,977
45,588
694,047
13,656
59,096
549,478
201,801
26,223
344,572
85,879
556,742
3,064,147
8.3%
8.3%
8.2%
7.0%
6.9%
6.8%
6.4%
6.1%
6.1%
5.7%
5.7%
5.0%
4.9%
4.9%
4.8%
4.6%
4.6%
4.5%
5.4%
Page 193
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
1
2
3
4
5
6
7
8
9
10
11
12
13
14
Schedule 11a
Central Shares
Ontario
Location
Your
Hamilton Teachers
Northern
Kawartha
Northern Lights
Mennonite Savings
United Communities
Buduchnist
Ukrainian
Sydenham Community
Windsor Family
First Ontario
Alterna Savings
PenFinancial
Copperfin
Hald-Nor Community
Sudbury
Libro
Meridian
Estonian
Total 2012
Ottawa
Hamilton
Sault Ste. Marie
Sault Ste. Marie
Peterborough
Thunder Bay
Kitchener
Essex
Toronto
Toronto
Strathroy
Windsor
Hamilton
Ottawa
Welland
Kenora
Caledonia
Sudbury
London
St. Catharines
Toronto
Toronto
Schedule 11a
Central Shares
Saskatchewan
Location
Advantage
Affinity
Conexus
Diamond North
Synergy
TCU Financial Group
Weyburn
Cornerstone
Prairie Centre
Horizon
Innovation
Unity
Spectra
Shaunavon
Total 2012
Melfort
Saskatoon
Regina
Nipawin
Lloydminster
Saskatoon
Weyburn
Yorkton
Rosetown
Melville
North Battleford
Unity
Estevan
Shaunavon
Central
Shares
1,626
2,856
2,569
5,392
6,235
1,280
5,621
5,101
4,207
4,358
1,330
6,035
9,865
17,079
2,443
1,450
932
2,372
11,250
48,806
768
4,150
145,726
Central
Investments
Shares/
Investments
20,846
39,283
35,364
74,388
86,345
18,026
81,205
75,130
62,908
66,385
21,170
100,035
164,090
285,680
40,937
27,750
18,512
56,066
274,190
1,231,053
34,546
227,147
3,041,055
7.8%
7.3%
7.3%
7.2%
7.2%
7.1%
6.9%
6.8%
6.7%
6.6%
6.3%
6.0%
6.0%
6.0%
6.0%
5.2%
5.0%
4.2%
4.1%
4.0%
2.2%
1.8%
4.8%
Central
Shares
Investments
Central
Shares/
Investments
4,124
19,002
29,082
2,926
8,504
3,920
3,185
6,446
3,353
1,393
12,492
1,265
5,272
1,195
102,157
74,464
380,214
674,174
69,378
202,704
94,503
82,091
166,620
89,089
42,693
410,538
53,153
236,735
55,360
2,631,716
5.5%
5.0%
4.3%
4.2%
4.2%
4.1%
3.9%
3.9%
3.8%
3.3%
3.0%
2.4%
2.2%
2.2%
3.9%
Page 194
Schedule 11a
Central Shares
Atlantic Provinces
1
2
3
4
5
6
Central
Shares
Investments
Central
Shares/
Investments
4,145
2,051
4,232
1,145
3,488
457
15,517
36,884
26,472
60,475
17,944
81,498
51,360
274,632
11.2%
7.7%
7.0%
6.4%
4.3%
0.9%
5.7%
Location
Bergengren
Bayview
Eagle River
East Coast
Total 2012
Halifax
Antigonish
St. John
L'Anse au Loop
Darmouth
St. John's
Schedule 11a
Central Shares
British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Atlantic Provinces
Total 2012
Investments
Number of CUs
Central
Shares
Central
Shares/
Investments
30
185,873
7,058,828
2.6%
13
18
22
14
6
103
74,254
102,157
165,267
145,726
15,517
688,796
2,391,731
2,631,716
3,064,147
3,041,055
274,632
18,462,109
3.1%
3.9%
5.4%
4.8%
5.7%
3.7%
Page 195
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
Schedule 11b
Risk Adjusted Capital
British Columbia
Location
Creston & District
Columbia Valley
Osoyoos
Sunshine Coast
Creston
Golden
Osoyoos
Gibsons
Dawson Creek
Smithers
Vernon
Kelona
Summerland
Nelson
Grand Forks
Vancouver
Trail
Aldergrove
Burnaby
Powell River
Salmon Arm
Cranbrook
New Westminster
Duncan
Langley
Surrey
Prince George
Vancouver
Surrey
Nanaimo
Ladysmith
Abbotsford
North Vancouver
Prince Rupert
Lake View
Bulkley Valley
VantageOne
Interior Savings
Nelson & District
Kootenay Savings
Aldergrove
First
Salmon Arm Savings
Westminster Savings
Island Savings
Integris
Community Savings
Coastal Community
Prospera
North Shore
Northern Savings
Total 2012
Total
Capital
15,865
12,859
9,321
29,495
17,907
20,574
20,574
163,718
14,106
11,953
12,725
73,773
78,901
47,107
10,447
9,608
32,047
17,367
144,500
91,626
389,113
746,236
31,576
1,042,669
21,574
96,247
8,344
120,245
121,952
37,798
3,450,229
Total
Risk
Risk
Adjusted Adjusted
Assets
Ratio
45,854
43,181
39,987
134,068
81,396
108,571
108,571
870,840
75,153
65,800
70,694
427,670
472,744
282,354
66,202
61,081
214,506
118,543
998,483
649,830
2,903,828
5,694,675
243,646
8,209,992
171,224
771,828
68,728
1,264,527
1,314,721
420,721
25,999,420
34.60%
29.78%
23.31%
22.00%
22.00%
18.95%
18.95%
18.80%
18.77%
18.17%
18.00%
17.25%
16.69%
16.68%
15.78%
15.73%
14.94%
14.65%
14.47%
14.10%
13.40%
13.10%
12.96%
12.70%
12.60%
12.47%
12.14%
9.51%
9.28%
8.98%
13.27%
Page 196
1
2
3
4
5
6
7
8
9
10
11
12
13
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Schedule 11b
Alberta
Location
Lakeland
Battle River
Rocky
Shell Employees'
Wainwright
Servus
Chinook
Mountain View
Bow Valley
Christian
Beaumont
1st Choice Savings
Total 2012
Bonnyville
Camrose
Calgary
Wainwright
Edmonton
Brooks
Olds
Cochrane
Edmonton
Beaumont
Calgary
Leithbridge
Schedule 11b
Manitoba
Location
Access
Casera
Winnipeg Police
Crosstown Civic
Cambrian
Niverville
Sunova
Rosenort
Portage
Sunrise
Carpathia
Noventis
Assiniboine
Entegra
Westoba
Steinbach
Dauphin Plains
Starbuck
Total 2012
Winnipeg
Winnipeg
Winnipeg
Winnipeg
Winnipeg
Niverville
Selkirk
Rosenort
Portage La Prairie
Treherne
Winnipeg
Gimli
Winnipeg
Winnipeg
Brandon
Steinbach
Dauphin
Winnipeg
Total
Capital
72,124
81,456
30,439
13,866
32,809
912,396
66,931
43,373
17,580
13,003
16,329
190,795
28,787
1,519,888
Total
Capital
121,387
16,689
9,833
98,317
166,255
15,390
61,591
12,853
13,862
45,177
20,355
29,059
188,800
28,603
70,086
222,482
11,386
8,723
1,140,850
Total
Risk
Risk
Adjusted Adjusted
Assets
Ratio
272,166
345,176
165,429
94,973
235,418
6,849,820
502,861
334,666
137,772
105,715
134,954
1,684,675
254,695
11,118,319
26.50%
23.60%
18.40%
14.60%
13.94%
13.32%
13.31%
12.96%
12.76%
12.30%
12.10%
11.33%
11.30%
13.67%
Total
Risk
Risk
Adjusted Adjusted
Assets
Ratio
833,444
119,546
72,292
753,967
1,324,741
138,401
556,884
116,848
126,706
419,666
192,107
289,183
1,893,187
297,609
734,650
2,478,516
136,039
106,774
10,590,561
14.56%
13.96%
13.60%
13.04%
12.55%
11.12%
11.06%
11.00%
10.94%
10.77%
10.60%
10.05%
9.97%
9.61%
9.54%
8.98%
8.37%
8.17%
10.77%
Page 197
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
Schedule 11b
Ontario
Location
Toronto
Waterloo
Sudbury
Sudbury
Toronto
PenFinancial
Welland
Estonian
Toronto
Buduchnist
Toronto
Kawartha
Peterborough
Hald-Nor Community
Caledonia
Ukrainian
Toronto
Lambton Financial*
Sarnia
Copperfin
Kenora
Mennonite Savings
Kitchener
Northern
Sault Ste. Marie
Meridian
St. Catharines
Windsor Family
Windsor
Hamilton Teachers
Hamilton
Sydenham Community
Strathroy
Prosperity One*
Milton
First Ontario
Hamilton
Toronto
Windsor
Sault Ste. Marie
Alterna Savings
Ottawa
Your
Ottawa
The Police*
Toronto
Libro
London
United Communities
Essex
Hamilton
Northern Lights
Thunder Bay
Total 2012
Total
Capital
19,862
57,728
27,155
102,528
26,900
7,765
51,550
76,969
9,924
41,390
15,794
14,496
70,282
47,257
551,342
68,055
26,647
12,924
12,968
119,365
11,914
14,720
20,668
170,488
12,278
11,151
109,145
46,562
9,514
9,573
1,776,914
Total
Risk
Risk
Adjusted Adjusted
Assets
Ratio
76,321
315,309
149,205
603,106
161,856
48,835
341,392
528,633
68,262
287,431
115,130
107,774
532,036
364,353
4,307,357
535,024
211,484
103,556
105,541
977,600
100,834
125,901
181,493
1,523,575
110,912
101,215
1,043,451
450,598
93,153
102,061
13,773,398
26.02%
18.31%
18.20%
17.00%
16.62%
15.90%
15.10%
14.56%
14.54%
14.40%
13.72%
13.45%
13.21%
12.97%
12.80%
12.72%
12.60%
12.48%
12.29%
12.21%
11.82%
11.69%
11.39%
11.19%
11.07%
11.02%
10.46%
10.33%
10.21%
9.38%
12.90%
Page 198
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
1
2
3
4
5
6
Schedule 11b
Saskatchewan
Location
Synergy
TCU Financial Group
Unity
Shaunavon
Affinity
Spectra
Conexus
Cornerstone
Innovation
Crossroads*
Horizon
Diamond North
Weyburn
Prairie Centre
Advantage
Total 2012
Lloydminster
Saskatoon
Unity
Shaunavon
Saskatoon
Estevan
Regina
Yorkton
North Battleford
Canora
Melville
Nipawin
Weyburn
Rosetown
Melfort
Schedule 11b
Atlantic Provinces
Location
Bergengren
East Coast
Eagle River
Bayview
Total 2012
St. John's
Antigonish
Darmouth
Halifax
L'Anse au Loop
St. John
Total
Capital
103,231
38,574
13,699
11,275
215,648
49,881
321,489
63,933
121,665
15,820
12,544
25,660
32,128
31,943
26,535
1,084,025
Total
Capital
24,412
16,121
27,933
19,413
7,467
23,071
118,417
Total
Risk
Risk
Adjusted Adjusted
Assets
Ratio
649,660
263,300
93,699
79,735
1,545,606
418,820
2,746,968
558,367
1,070,993
143,553
114,455
234,982
301,098
311,641
270,375
8,803,254
15.89%
14.65%
14.62%
14.14%
13.95%
11.91%
11.70%
11.45%
11.36%
11.02%
10.96%
10.92%
10.67%
10.25%
9.81%
12.31%
Total
Risk
Risk
Adjusted Adjusted
Assets
Ratio
154,774
107,445
204,796
145,025
62,544
196,825
871,409
15.77%
15.00%
13.64%
13.39%
11.94%
11.72%
13.59%
Page 199
Schedule 11b
British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Atlantic Provinces
Total 2012
Total 2011
Total 2010
Total 2009
Number of CUs
Total
Capital
30
13
15
18
30
6
112
3,450,229
1,519,888
1,084,025
1,140,850
1,776,914
118,417
9,090,322
96
84
91
8,151,851
6,570,794
5,286,400
Total
Risk
Risk
Adjusted Adjusted
Assets
Ratio
25,999,420
11,118,319
8,803,254
10,590,561
13,773,398
871,409
71,156,362
62,751,987
49,004,655
43,242,838
13.27%
13.67%
12.31%
10.77%
12.90%
13.59%
12.78%
12.99%
13.41%
12.22%
Page 200
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Schedule 12
Fastest Growing
Credit Unions
Assets
Name of Credit Union
Location
Province
Kawartha (merger)
Sudbury (merger)
Christian
Rosenort
First
Entegra
First Ontario
Biggar & District*
Crosstown Civic
Windsor Family
Starbuck
Cambrian
Ukrainian
Hamilton Teachers
Casera
Prosperity One*
Carpathia
Sunova
Unity
Westoba
Innovation
Meridian
2012
Peterborough
Sudbury
Edmonton
Rosenort
Powell River
Winnipeg
Hamilton
Waterloo
Biggar
Winnipeg
Windsor
Winnipeg
Winnipeg
Toronto
Barrie
Hamilton
Fort St. John
Winnipeg
Milton
Winnipeg
Selkirk
Unity
Brandon
North Battleford
St. Catharines
Top 25
Ontario
Ontario
Alberta
Manitoba
British Columbia
Manitoba
Ontario
Ontario
Saskatchewan
Manitoba
Ontario
Manitoba
Manitoba
Ontario
Ontario
Ontario
British Columbia
Manitoba
Ontario
Manitoba
Manitoba
Saskatchewan
Manitoba
Saskatchewan
Ontario
2011
2010
2009
Top 25
Top 25
Top 25
2012
2011
2010
2009
125
115
115
120
2012
($Mils)
2011 Growth
($Mils)
%
965.9
326.7
217.8
248.3
236.9
501.9
1,805.6
725.9
145.6
1,698.6
908.0
173.1
2,764.2
583.8
148.9
438.5
317.4
314.1
204.7
358.1
907.5
178.1
1,165.1
1,656.9
8,745.4
$25,737
728.4
247.0
175.3
203.3
194.1
414.0
1,527.9
615.0
123.4
1,442.9
773.1
148.9
2,397.9
510.3
130.9
386.8
281.3
278.6
182.3
319.0
808.7
158.9
1,042.4
1,482.9
7,841.7
$22,415
$36,767
$27,682
$29,561
$31,376
$23,490
$19,085
$136,576
$125,797
$113,742
$109,830
$126,221
$115,666
$107,623
$103,098
32.6%
32.3%
24.3%
22.2%
22.0%
21.2%
18.2%
18.0%
18.0%
17.7%
17.5%
16.2%
15.3%
14.4%
13.7%
13.4%
12.8%
12.7%
12.3%
12.3%
12.2%
12.1%
11.8%
11.7%
11.5%
14.8%
17.2%
17.8%
13.0%
8.2%
8.8%
5.7%
6.5%
Page 201
Schedule 13
Most Profitable based on
Return on Equity (ROE)
Average
Net
Location
Province
Equity
Income
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Dauphin Plains
Kawartha
Cambrian
Crosstown Civic
Battle River
First Ontario
Biggar & District*
Portage
Conexus
Carpathia
Steinbach
Salmon Arm Savings
Innovation
Sudbury
Affinity
Prairie Centre
Lakeland
Synergy
Weyburn
Northern Lights
Vanguard*
TCU Financial Group
Libro
2012
Dauphin
Peterborough
Winnipeg
Winnipeg
Camrose
Hamilton
Biggar
Portage La Prairie
Regina
Toronto
Winnipeg
Steinbach
Salmon Arm
North Battleford
Sudbury
Saskatoon
Rosetown
Bonnyville
Lloydminster
Weyburn
Thunder Bay
Surrey
Rossburn
Saskatoon
London
Top 25
Manitoba
Ontario
Manitoba
Manitoba
Alberta
Ontario
Saskatchewan
Manitoba
Saskatchewan
Ontario
Manitoba
Manitoba
British Columbia
Saskatchewan
Ontario
Saskatchewan
Saskatchewan
Alberta
Saskatchewan
Saskatchewan
Ontario
British Columbia
Manitoba
Saskatchewan
Ontario
ROE
10,704
62,787
156,443
92,773
77,205
107,880
11,149
13,100
304,477
99,521
19,381
209,917
31,402
120,967
23,384
204,282
30,266
69,061
98,552
31,075
8,886
692,167
23,177
37,033
105,886
2,641,474
1,549 14.5%
9,007 14.3%
22,353 14.3%
12,937 13.9%
10,172 13.2%
14,187 13.2%
1,458 13.1%
1,674 12.8%
38,496 12.6%
12,322 12.4%
2,357 12.2%
25,156 12.0%
3,745 11.9%
13,626 11.3%
2,627 11.2%
22,751 11.1%
3,355 11.1%
7,455 10.8%
10,374 10.5%
3,236 10.4%
920 10.3%
71,620 10.3%
2,392 10.3%
3,802 10.3%
10,685 10.1%
308,257 11.7%
2011
2010
2009
Top 25
Top 25
Top 25
2,573,412
1,570,736
1,426,938
331,133 12.9%
211,502 13.5%
186,413 13.1%
2012
2011
2010
2009
125
115
115
120
8,741,741
7,997,698
7,146,221
6,762,451
701,082
753,021
697,865
583,474
8.0%
9.4%
9.8%
8.6%
ROE = Net income before distributions to members divided by average capital
Page 202
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Schedule 14
Most Profitable based on
Return on Assets (ROA)
Location
Province
Battle River
Lakeland
Biggar & District*
Kawartha
Creston & District
Conexus
Synergy
Affinity
Sudbury
Innovation
Cambrian
First Ontario
Crosstown Civic
Weyburn
First
Servus
Salmon Arm Savings
Dauphin Plains
Prairie Centre
Copperfin
Portage
TCU Financial Group
Vanguard*
Carpathia
2012
Camrose
Bonnyville
Biggar
Peterborough
Toronto
Creston
Regina
Lloydminster
Saskatoon
Sudbury
North Battleford
Winnipeg
Hamilton
Winnipeg
Weyburn
Powell River
Edmonton
Salmon Arm
Dauphin
Rosetown
Kenora
Portage La Prairie
Saskatoon
Rossburn
Winnipeg
Top 25
Alberta
Alberta
Saskatchewan
Ontario
Ontario
British Columbia
Saskatchewan
Saskatchewan
Saskatchewan
Ontario
Saskatchewan
Manitoba
Ontario
Manitoba
Saskatchewan
British Columbia
Alberta
British Columbia
Manitoba
Saskatchewan
Ontario
Manitoba
Saskatchewan
Manitoba
Manitoba
2011
2010
2009
Top 25
Top 25
Top 25
2012
2011
2010
2009
125
115
115
120
Average
Net
Assets Income
ROA
556,517
10,172
519,431
7,455
134,524
1,458
847,189
9,007
1,230,862
12,322
115,330
1,153
4,009,463
38,496
1,084,897
10,374
2,403,948
22,751
286,821
2,627
1,569,922
13,626
2,581,060
22,353
1,666,786
14,187
1,570,724
12,937
404,530
3,236
215,518
1,693
11,709,894
89,241
494,477
3,745
207,731
1,549
458,452
3,355
185,371
1,347
233,879
1,674
532,973
3,802
343,353
2,392
338,583
2,357
33,702,233 293,310
1.83%
1.44%
1.08%
1.06%
1.00%
1.00%
0.96%
0.96%
0.95%
0.92%
0.87%
0.87%
0.85%
0.82%
0.80%
0.79%
0.76%
0.76%
0.75%
0.73%
0.73%
0.72%
0.71%
0.70%
0.70%
0.87%
27,499,113 262,524
21,666,224 202,846
30,609,387 257,000
0.95%
0.94%
0.84%
131,401,588
117,370,915
110,623,939
106,079,018
701,082
753,021
697,865
583,474
0.53%
0.64%
0.63%
0.55%
ROA = Net Income before distributions to members divided by average assets
Page 203
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Schedule 15
Best Operating Margin
as a % of average assets
Location
Province
Eagle River
First
Northern Lights
Northern
Kawartha
East Coast
Bergengren
Copperfin
Bayview
Advantage
Biggar & District*
Coastal Community
Bulkley Valley
Integris
Innovation
Affinity
Sudbury
Conexus
VantageOne
Plainsview*
Battle River
2012
L'Anse au Loop
Powell River
Thunder Bay
Sault Ste. Marie
Peterborough
Darmouth
Antigonish
Toronto
Kenora
Halifax
St. John
Melfort
Biggar
Nanaimo
Smithers
Fort St. John
Prince George
North Battleford
Saskatoon
Sudbury
Regina
Vernon
Kipling
Camrose
Windsor
Top 25
Newfoundland
British Columbia
Ontario
Ontario
Ontario
Nova Scotia
Nova Scotia
Ontario
Ontario
Nova Scotia
New Brunswick
Saskatchewan
Saskatchewan
British Columbia
British Columbia
British Columbia
British Columbia
Saskatchewan
Saskatchewan
Ontario
Saskatchewan
British Columbia
Saskatchewan
Alberta
Ontario
Net Interest Other Operating
Margin
Income Margin
4.17%
2.16%
4.05%
3.50%
3.79%
3.21%
3.66%
3.13%
3.39%
3.30%
3.07%
3.41%
2.88%
2.69%
3.10%
2.88%
2.98%
3.01%
2.91%
3.39%
2.91%
2.84%
2.85%
3.35%
3.35%
3.06%
2.06%
3.88%
1.44%
1.34%
1.02%
1.55%
1.03%
1.49%
1.19%
1.17%
1.35%
1.01%
1.52%
1.70%
1.26%
1.40%
1.26%
1.17%
1.25%
0.67%
1.14%
1.19%
1.15%
0.62%
0.59%
1.26%
6.23%
6.04%
5.49%
4.84%
4.81%
4.76%
4.69%
4.62%
4.58%
4.47%
4.43%
4.42%
4.40%
4.39%
4.37%
4.28%
4.25%
4.18%
4.16%
4.06%
4.05%
4.03%
4.00%
3.97%
3.94%
4.31%
2011
2010
2009
Top 25
Top 25
Top 25
2.50%
3.02%
2.67%
0.86%
1.61%
1.95%
3.36%
4.63%
4.62%
2012
2011
2010
2009
125
115
115
120
2.37%
2.54%
2.57%
2.37%
0.75%
0.85%
0.88%
0.95%
3.12%
3.39%
3.45%
3.32%
Page 204
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Schedule 16
Highest Net Interest Margin
Location
Province
Eagle River
Northern Lights
Kawartha
Bergengren
Northern
Advantage
Copperfin
Sudbury
Battle River
East Coast
Horizon
Bulkley Valley
Lake View
Bayview
Innovation
Lambton Financial*
Integris
Diamond North
Cornerstone
Your
2012
L'Anse au Loop
Thunder Bay
Peterborough
Antigonish
Sault Ste. Marie
Melfort
Kenora
Sudbury
Windsor
Camrose
Halifax
Darmouth
Melville
Toronto
Smithers
Dawson Creek
St. John
St. John's
North Battleford
Toronto
Sarnia
Prince George
Nipawin
Yorkton
Ottawa
Top 25
Newfoundland
Ontario
Ontario
Nova Scotia
Ontario
Saskatchewan
Ontario
Ontario
Ontario
Alberta
Nova Scotia
Nova Scotia
Saskatchewan
Ontario
British Columbia
British Columbia
New Brunswick
Newfoundland
Saskatchewan
Ontario
Ontario
British Columbia
Saskatchewan
Saskatchewan
Ontario
Margin
Income Margin
4.17%
4.05%
3.79%
3.66%
3.50%
3.41%
3.39%
3.39%
3.35%
3.35%
3.30%
3.21%
3.20%
3.13%
3.10%
3.09%
3.07%
3.05%
3.01%
3.00%
2.99%
2.98%
2.97%
2.97%
2.93%
3.24%
2.06%
1.44%
1.02%
1.03%
1.34%
1.01%
1.19%
0.67%
0.59%
0.62%
1.17%
1.55%
0.70%
1.49%
1.26%
0.67%
1.35%
0.79%
1.17%
0.61%
0.64%
1.26%
0.75%
0.88%
0.74%
1.04%
6.23%
5.49%
4.81%
4.69%
4.84%
4.42%
4.58%
4.06%
3.94%
3.97%
4.47%
4.76%
3.89%
4.62%
4.37%
3.76%
4.43%
3.85%
4.18%
3.60%
3.63%
4.25%
3.73%
3.85%
3.68%
4.28%
2011
2010
2009
Top 25
Top 25
Top 25
3.27%
3.34%
3.17%
0.89%
1.11%
1.10%
4.16%
4.45%
4.26%
2012
2011
2010
2009
125
115
115
120
2.39%
2.54%
2.57%
2.37%
0.75%
0.85%
0.88%
0.95%
3.14%
3.39%
3.45%
3.32%
Page 205
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Schedule 17
Best Other Income
Location
Province
First
Eagle River
Coastal Community
East Coast
Biggar & District*
Northern Lights
Sunrise
Bayview
Northern
Bulkley Valley
Integris
Affinity
Interior Savings
Copperfin
VantageOne
Innovation
Plainsview*
First Ontario
Conexus
Creston & District
2012
Powell River
L'Anse au Loop
Nanaimo
Darmouth
Biggar
Toronto
Thunder Bay
Treherne
Fort St. John
St. John
Sault Ste. Marie
Langley
Smithers
Prince George
Saskatoon
Kelona
Kenora
Vernon
North Battleford
Halifax
Ladysmith
Kipling
Hamilton
Regina
Creston
Top 25
British Columbia
Newfoundland
British Columbia
Nova Scotia
Saskatchewan
Ontario
Ontario
Manitoba
British Columbia
New Brunswick
Ontario
British Columbia
British Columbia
British Columbia
Saskatchewan
British Columbia
Ontario
British Columbia
Saskatchewan
Nova Scotia
British Columbia
Saskatchewan
Ontario
Saskatchewan
British Columbia
2011
2010
2009
2012
2011
2010
2009
Margin
Income Margin
Top 25
Top 25
Top 25
# of CUs
125
115
115
120
2.16%
4.17%
2.69%
3.21%
2.88%
3.13%
4.05%
2.46%
2.88%
3.07%
3.50%
2.18%
3.10%
2.98%
2.91%
2.67%
3.39%
2.84%
3.01%
3.30%
2.13%
2.85%
2.51%
2.91%
2.24%
1.84%
3.88%
2.06%
1.70%
1.55%
1.52%
1.49%
1.44%
1.41%
1.40%
1.35%
1.34%
1.29%
1.26%
1.26%
1.25%
1.20%
1.19%
1.19%
1.17%
1.17%
1.17%
1.15%
1.15%
1.14%
1.06%
0.28%
6.04%
6.23%
4.39%
4.76%
4.40%
4.62%
5.49%
3.87%
4.28%
4.43%
4.84%
3.47%
4.37%
4.25%
4.16%
3.87%
4.58%
4.03%
4.18%
4.47%
3.29%
4.00%
3.66%
4.05%
3.30%
1.69%
2.80%
2.91%
2.59%
1.42%
1.61%
1.86%
4.23%
4.52%
4.45%
2.36%
2.54%
2.57%
2.37%
0.74%
0.85%
0.88%
0.95%
3.10%
3.39%
3.45%
3.32%
Page 206
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Schedule 18
Lowest Operating Expense Ratio
Location
Province
Crosstown Civic
Shell Employees'
Cambrian
Rosenort
Steinbach
Estonian
Parama Lithuanian*
Carpathia
Winnipeg Police
Starbuck
Buduchnist
Access
Entegra
Niverville
Christian
Lakeland
Rocky
Sharons*
Meridian
Beaumont
Casera
Columbia Valley
Battle River
2012
Winnipeg
Manitoba
Calgary
Alberta
Winnipeg
Manitoba
Rosenort
Manitoba
Steinbach
Manitoba
Toronto
Ontario
Toronto
Ontario
Winnipeg
Manitoba
Winnipeg
Manitoba
Winnipeg
Manitoba
Toronto
Ontario
Toronto
Ontario
Winnipeg
Manitoba
Winnipeg
Manitoba
Niverville
Manitoba
Edmonton
Alberta
Bonnyville
Alberta
Alberta
Vancouver
British Columbia
St. Catharines
Ontario
Surrey
British Columbia
Beaumont
Alberta
Winnipeg
Manitoba
Golden
British Columbia
Camrose
Alberta
Top 25
2011
2010
2009
2012
2011
2010
2009
Top 25
Top 25
Top 25
# of CUs
125
115
115
120
Other
Operating
Salary Occupancy expenses expenses
0.42%
0.55%
0.59%
0.60%
0.65%
0.70%
0.68%
0.82%
0.82%
0.87%
0.80%
0.91%
1.03%
0.83%
0.83%
0.96%
1.05%
1.02%
0.88%
1.02%
1.05%
0.97%
0.82%
0.81%
1.02%
0.91%
0.06%
0.07%
0.13%
0.10%
0.10%
0.12%
0.02%
0.18%
0.21%
0.23%
0.13%
0.20%
0.15%
0.25%
0.20%
0.09%
0.09%
0.07%
0.08%
0.15%
0.17%
0.13%
0.31%
0.18%
0.14%
0.15%
0.31%
0.44%
0.38%
0.46%
0.48%
0.53%
0.66%
0.50%
0.53%
0.55%
0.73%
0.56%
0.52%
0.64%
0.70%
0.72%
0.66%
0.73%
0.88%
0.70%
0.66%
0.82%
0.80%
0.97%
0.81%
0.61%
0.79%
1.06%
1.09%
1.16%
1.23%
1.34%
1.37%
1.50%
1.56%
1.65%
1.66%
1.67%
1.69%
1.72%
1.73%
1.78%
1.80%
1.81%
1.84%
1.87%
1.88%
1.92%
1.93%
1.96%
1.97%
1.67%
0.92%
1.02%
0.99%
0.16%
0.21%
0.22%
0.64%
0.69%
0.68%
1.73%
1.93%
1.89%
1.35%
1.39%
1.35%
1.38%
0.21%
0.23%
0.21%
0.24%
0.85%
0.93%
0.94%
0.92%
2.35%
2.55%
2.57%
2.55%
Page 207
Schedule 19
Lowest Productivity
Expense Ratio
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Operating Productivity
expenses
Expense
Location
Province
% avg. assets Ratio*
Crosstown Civic
Battle River
Lakeland
Cambrian
Steinbach
Carpathia
First Ontario
Rosenort
Creston & District
Buduchnist
Rocky
Estonian
Conexus
Biggar & District*
Libro
Sharons*
Sudbury
Meridian
Servus
Weyburn
Unity
Entegra
Synergy
2012
Winnipeg
Manitoba
Camrose
Alberta
Bonnyville
Alberta
Winnipeg
Manitoba
Steinbach
Manitoba
Toronto
Ontario
Winnipeg
Manitoba
Hamilton
Ontario
Rosenort
Manitoba
Creston
British Columbia
Toronto
Ontario
Alberta
Toronto
Ontario
Regina
Saskatchewan
Biggar
Saskatchewan
London
Ontario
Surrey
British Columbia
Vancouver
British Columbia
Sudbury
Ontario
St. Catharines
Ontario
Edmonton
Alberta
Weyburn
Saskatchewan
Unity
Saskatchewan
Winnipeg
Manitoba
Lloydminster
Saskatchewan
Top 25
2011
2010
2009
2012
2011
2010
2009
Top 25
Top 25
Top 25
# of CUs
125
115
115
120
0.79%
1.97%
1.80%
1.09%
1.23%
1.67%
1.50%
2.47%
1.16%
2.25%
1.66%
1.81%
1.34%
2.83%
3.10%
2.21%
1.88%
1.84%
2.89%
1.87%
2.50%
2.43%
2.46%
1.72%
2.56%
2.01%
46.9%
49.6%
51.3%
53.3%
60.3%
61.9%
63.2%
67.3%
67.9%
68.1%
68.7%
68.8%
69.6%
69.8%
70.4%
71.0%
71.0%
71.0%
71.1%
71.3%
71.6%
71.6%
71.6%
72.0%
72.2%
68.6%
2.16%
2.04%
2.10%
68.0%
67.0%
68.5%
2.36%
2.55%
2.57%
2.55%
76.3%
75.2%
74.6%
76.8%
*Productivity Expense Ratio=operating expenses divided by operating revenue
Page 208
Schedule 20
Lowest Loan Loss Exposure
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Gross Allowance Allowance/
Loans for Losses Loss Ratio
Location
Province
($Mils)
($Mils)
%
Weyburn
Entegra
Rosenort
Cambrian
Casera
Salmon Arm Savings
Lambton Financial*
Unity
Alterna Savings
Westminster Savings
Prosperity One*
Crosstown Civic
Buduchnist
Mennonite Savings
Sunrise
1st Choice Savings
Prairie Centre
Coastal Community
Osoyoos
Nelson & District
2012
Barrie
Weyburn
Winnipeg
Rosenort
Winnipeg
Winnipeg
Salmon Arm
Sarnia
Unity
Ottawa
Grand Forks
New Westminster
Milton
Winnipeg
Toronto
Summerland
Kitchener
Treherne
Leithbridge
Waterloo
St. John's
Rosetown
Nanaimo
Osoyoos
Nelson
Top 25
2011
2010
2009
2012
2011
2010
2009
Top 25
Top 25
Top 25
# of CUs
110
93
115
120
Ontario
Saskatchewan
Manitoba
Manitoba
Manitoba
Manitoba
British Columbia
Ontario
Saskatchewan
Ontario
British Columbia
British Columbia
Ontario
Manitoba
Ontario
British Columbia
Ontario
Manitoba
Alberta
Ontario
Newfoundland
Saskatchewan
British Columbia
British Columbia
British Columbia
134,261
328,794
447,123
187,530
2,185,586
283,503
423,732
147,151
122,913
2,074,745
168,049
2,010,153
179,302
1,343,910
546,770
145,787
738,762
647,375
339,892
649,052
416,161
380,886
1,517,381
83,443
110,754
15,613,015
45
167
285
123
1,477
218
330
120
101
1,903
179
2,397
225
1,695
735
199
1,014
909
486
944
620
568
2,423
134
182
17,478
0.03%
0.05%
0.06%
0.07%
0.07%
0.08%
0.08%
0.08%
0.08%
0.09%
0.11%
0.12%
0.13%
0.13%
0.13%
0.14%
0.14%
0.14%
0.14%
0.15%
0.15%
0.15%
0.16%
0.16%
0.16%
0.11%
18,953,212
18,123,412
19,813,658
27,103
42,470
45,889
0.14%
0.23%
0.23%
241,484
395,903
467,074
482,936
0.36%
0.39%
0.51%
0.54%
86,056,931
100,426,816
91,113,757
89,307,366
Page 209
Schedule 21
Largest Loan Loss
Exposure
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Gross
Allowance Allowance/
Loans
for Losses Loss Ratio
Location
Province
($Mils)
($Mils)
%
Columbia Valley
Horizon
Kawartha
Lake View
Mountain View
The Police*
Lakeland
Beaumont
Meridian
East Coast
Your
Bergengren
Parama Lithuanian*
Estonian
Innovation
VantageOne
Northern Savings
Wainwright
First Ontario
Sunshine Coast
2012
Golden
Melville
Peterborough
Calgary
Dawson Creek
Olds
Toronto
Windsor
Bonnyville
Burnaby
Beaumont
St. Catharines
Darmouth
Ottawa
Antigonish
Vancouver
Toronto
Toronto
Halifax
North Battleford
Vernon
Prince Rupert
Wainwright
Hamilton
Gibsons
Top 25
2011
2010
2009
2012
2011
2010
2009
Top 25
Top 25
Top 25
# of CUs
110
93
115
120
British Columbia
Saskatchewan
Ontario
Alberta
British Columbia
Alberta
Ontario
Ontario
Alberta
British Columbia
Alberta
Ontario
Nova Scotia
Ontario
Nova Scotia
British Columbia
Ontario
Ontario
Nova Scotia
Saskatchewan
British Columbia
British Columbia
Alberta
Ontario
British Columbia
75,519
132,053
863,887
2,204,798
171,130
442,764
200,725
180,193
436,226
175,173
186,498
7,516,228
259,781
177,656
176,484
14,425,661
180,182
74,189
287,939
1,206,314
208,218
676,992
282,355
1,621,497
327,445
32,489,907
690
1,072
7,003
16,752
1,280
3,216
1,374
1,182
2,850
1,112
1,137
45,552
1,500
988
979
78,369
969
397
1,510
6,181
1,053
3,410
1,419
7,825
1,550
189,371
0.91%
0.81%
0.81%
0.76%
0.75%
0.73%
0.68%
0.66%
0.65%
0.63%
0.61%
0.61%
0.58%
0.56%
0.55%
0.54%
0.54%
0.54%
0.52%
0.51%
0.51%
0.50%
0.50%
0.48%
0.47%
0.58%
22,457,884
37,500,726
34,222,119
148,026
284,134
276,998
0.66%
0.76%
0.80%
86,056,931
100,426,816
91,113,757
89,307,366
241,484
395,903
467,074
482,936
0.36%
0.39%
0.51%
0.54%
Page 210
Schedule 22
Highest Impaired
Loan Ratio
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Gross
Loans
Location
Province
($Mils)
Northern Lights
Hald-Nor Community
Bergengren
VantageOne
Carpathia
Meridian
Kawartha
Sydenham Community
Your
Sunshine Coast
Hamilton Teachers
Dauphin Plains
Interior Savings
Synergy
First Ontario
Salmon Arm Savings
Beaumont
Innovation
Niverville
Portage
Northern Savings
Northern
2012
Thunder Bay
Caledonia
Antigonish
Vernon
Winnipeg
St. Catharines
Peterborough
Strathroy
Ottawa
Calgary
Gibsons
Hamilton
Dauphin
Kelona
Lloydminster
Halifax
Hamilton
Salmon Arm
Beaumont
North Battleford
Niverville
Portage La Prairie
Prince Rupert
Sault Ste. Marie
Sault Ste. Marie
Top 25
2011
2010
2009
2012
2011
2010
2009
Top 25
Top 25
Top 25
# of CUs
94
88
115
120
Ontario
Ontario
Nova Scotia
British Columbia
Manitoba
Ontario
Ontario
Ontario
Ontario
Alberta
British Columbia
Ontario
Manitoba
British Columbia
Saskatchewan
Nova Scotia
Ontario
British Columbia
Alberta
Saskatchewan
Manitoba
Manitoba
British Columbia
Ontario
Ontario
Impaired Impaired
Loans Loan Ratio
($Mils)
%
139,173
103,404
176,484
208,218
303,028
7,516,228
863,887
153,126
177,656
2,204,798
327,445
393,733
187,435
1,824,029
890,523
287,939
1,621,497
423,732
186,498
1,206,314
199,945
205,820
676,992
618,350
293,262
21,189,517
7,951
2,712
4,496
4,298
5,808
142,934
15,716
2,735
3,114
35,812
5,064
5,811
2,757
26,727
12,666
3,902
21,351
5,380
2,365
15,132
2,337
2,405
7,902
7,065
3,279
349,720
5.71%
2.62%
2.55%
2.06%
1.92%
1.90%
1.82%
1.79%
1.75%
1.62%
1.55%
1.48%
1.47%
1.47%
1.42%
1.36%
1.32%
1.27%
1.27%
1.25%
1.17%
1.17%
1.17%
1.14%
1.12%
1.65%
19,661,300
19,083,269
20,350,063
337,388
377,344
387,572
1.72%
1.98%
1.90%
109,597,897
99,521,689
86,910,491
86,507,197
685,522
761,540
868,001
846,426
0.63%
0.77%
1.00%
0.98%
Page 211
Schedule 23
Lowest Impaired
Loan Ratio
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Gross
Loans
Location
Province
($Mils)
Shell Employees'
Alterna Savings
Weyburn
Unity
Casera
Wainwright
TCU Financial Group
Diamond North
Buduchnist
Libro
Sunrise
Copperfin
Shaunavon
Assiniboine
Prospera
Lake View
Entegra
Cambrian
Affinity
Integris
Coastal Community
Advantage
2012
Calgary
Ottawa
Weyburn
Unity
Winnipeg
Wainwright
Saskatoon
Vancouver
St. John's
Nipawin
Toronto
London
Treherne
Kenora
Shaunavon
Winnipeg
Abbotsford
Dawson Creek
Winnipeg
Winnipeg
Saskatoon
Prince George
Nanaimo
Melfort
Summerland
Top 25
2011
2010
2009
2012
2011
2010
2009
Top 25
Top 25
Top 25
# of CUs
94
88
115
120
Alberta
Ontario
Saskatchewan
Saskatchewan
Manitoba
Alberta
Saskatchewan
British Columbia
Newfoundland
Saskatchewan
Ontario
Ontario
Manitoba
Ontario
Saskatchewan
Manitoba
British Columbia
British Columbia
Manitoba
Manitoba
Saskatchewan
British Columbia
British Columbia
Saskatchewan
British Columbia
Impaired Impaired
Loans Loan Ratio
($Mils)
%
203,402
2,074,745
328,794
122,913
283,503
282,355
443,317
14,425,661
416,161
286,262
546,770
1,432,396
647,375
156,650
71,804
2,852,554
2,105,626
171,130
447,123
2,185,586
2,022,527
453,324
1,517,381
361,779
145,787
33,984,925
32
837
243
101
249
298
475
20,967
620
452
893
2,379
1,137
281
140
5,624
4,212
394
1,039
5,186
4,830
1,086
3,809
921
396
56,600
0.02%
0.04%
0.07%
0.08%
0.09%
0.11%
0.11%
0.15%
0.15%
0.16%
0.16%
0.17%
0.18%
0.18%
0.19%
0.20%
0.20%
0.23%
0.23%
0.24%
0.24%
0.24%
0.25%
0.25%
0.27%
0.17%
30,320,598
18,812,621
55,518
61,367
0.18%
0.33%
0.21%
109,597,897
99,521,689
86,910,491
86,507,197
685,522
761,540
868,001
846,426
0.63%
0.77%
1.00%
0.98%
Page 212
Schedule 24
Highest Return to Members
as a % of Net Income
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Dividend &
Net
Patrongage Return to
Income* Payments Members
Location
Province
($Mils)
($Mils)
%
Meridian
Battle River
Salmon Arm Savings
Lake View
Sharons*
Kootenay Savings
Osoyoos
Kawartha
Servus
United Communities
Wainwright
Libro
Aldergrove
Hamilton Teachers
Bow Valley
Lakeland
Bulkley Valley
Creston & District
Momentum*
2012
Calgary
St. Catharines
Camrose
Fort St. John
Ladysmith
Salmon Arm
Summerland
Dawson Creek
Grand Forks
Vancouver
Windsor
Trail
Osoyoos
Peterborough
Edmonton
Essex
Wainwright
London
Aldergrove
Hamilton
Cochrane
Bonnyville
Smithers
Creston
Hamilton
Top 25
2011
2010
2009
2012
2011
2010
2009
Top 25
Top 25
Top 25
# of CUs
105
100
100
98
Alberta
Ontario
Alberta
British Columbia
British Columbia
British Columbia
British Columbia
British Columbia
British Columbia
British Columbia
Ontario
British Columbia
British Columbia
Ontario
Alberta
Ontario
Alberta
Ontario
British Columbia
Ontario
Alberta
Alberta
British Columbia
British Columbia
Ontario
8,718
24,966
10,172
887
99
3,745
791
486
1,101
1,420
597
5,216
457
9,007
89,241
1,554
2,198
10,685
2,334
1,137
731
7,455
1,800
1,153
189
186,139
7,744
19,287
7,172
624
63
2,262
463
281
630
769
317
2,747
229
4,285
42,001
718
992
4,709
1,019
492
303
2,966
715
451
70
101,307
88.8%
77.3%
70.5%
70.3%
63.1%
60.4%
58.5%
57.8%
57.2%
54.2%
53.1%
52.7%
50.1%
47.6%
47.1%
46.2%
45.1%
44.1%
43.6%
43.3%
41.4%
39.8%
39.7%
39.1%
37.2%
54.4%
148,267
158,699
143,157
95,219
90,757
87,225
64.2%
57.2%
60.9%
637,761
712,001
662,855
530,410
163,057
168,458
166,304
148,877
25.6%
23.7%
25.1%
28.1%
* Net income before distributions
Page 213
Schedule 25
Largest CU by Deposits
per Branch (more than one branch)
Number
of
Location
Province
Branches
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Steinbach
Cambrian
Lakeland
Crosstown Civic
Northern Savings
North Shore
Salmon Arm Savings
Entegra
Windsor Family
Assiniboine
Weyburn
Westminster Savings
TCU Financial Group
Prospera
Niverville
Sunshine Coast
Carpathia
Servus
Christian
2012
2011
2010
2009
2012
2011
2010
2009
Steinbach
Vancouver
Winnipeg
Bonnyville
Surrey
Vancouver
Winnipeg
Prince Rupert
North Vancouver
Salmon Arm
Calgary
Winnipeg
Langley
Windsor
Winnipeg
Weyburn
New Westminster
Saskatoon
Abbotsford
Niverville
Gibsons
Winnipeg
Edmonton
Edmonton
Sault Ste. Marie
Top 25
Top 25
Top 25
Top 25
# of CUs
125
115
115
120
Manitoba
British Columbia
Manitoba
Alberta
British Columbia
British Columbia
Manitoba
British Columbia
British Columbia
British Columbia
Alberta
Manitoba
British Columbia
Ontario
Manitoba
Saskatchewan
British Columbia
Saskatchewan
British Columbia
Manitoba
British Columbia
Manitoba
Alberta
Alberta
Ontario
3
58
11
2
53
5
8
4
12
3
16
3
38
6
25
3
15
4
16
2
3
3
101
2
3
399
Deposits
per Branch
($Mils)
3,714,996
14,424,846
2,560,334
458,451
11,119,944
993,785
1,580,773
697,946
1,959,046
482,824
2,444,815
451,799
4,963,959
782,659
3,202,769
382,420
1,900,788
500,761
1,995,355
229,729
337,275
333,800
10,996,887
203,648
303,342
67,022,953
$1,238.3
$248.7
$232.8
$229.2
$209.8
$198.8
$197.6
$174.5
$163.3
$160.9
$152.8
$150.6
$130.6
$130.4
$128.1
$127.5
$126.7
$125.2
$124.7
$114.9
$112.4
$111.3
$108.9
$101.8
$101.1
$168.0
414
421
398
$152.7
$142.3
$140.2
1,298
1,245
1,207
1,213
$93.2
$89.0
$83.1
$79.4
Page 214
Schedule 26
CUs with the largest
number of branches
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Number
Deposits
of
per Branch
Location
Province
Branches ($Mils)
Servus
Meridian
Conexus
Affinity
Innovation
Northern
Assiniboine
Kawartha
Alterna Savings
Coastal Community
First Ontario
Interior Savings
Westoba
East Coast
Advantage
Prospera
Westminster Savings
Libro
Island Savings
2012
Edmonton
St. Catharines
Vancouver
Surrey
Regina
Saskatoon
Langley
North Battleford
Sault Ste. Marie
Winnipeg
Peterborough
Ottawa
Nanaimo
Hamilton
Kelona
Brandon
Darmouth
Melfort
Calgary
Abbotsford
Toronto
Waterloo
New Westminster
London
Duncan
Top 25
2011
2010
2009
2012
2011
2010
2009
Alberta
Ontario
British Columbia
British Columbia
Saskatchewan
Saskatchewan
British Columbia
Saskatchewan
Ontario
Manitoba
Ontario
Ontario
British Columbia
Ontario
British Columbia
Manitoba
Nova Scotia
Saskatchewan
Alberta
British Columbia
Ontario
Ontario
British Columbia
Ontario
British Columbia
Top 25
Top 25
Top 25
# of CUs
125
115
115
120
101
71
58
53
47
44
38
27
26
25
25
24
24
24
21
21
20
18
16
16
16
16
15
15
15
776
$108.9
$101.0
$248.7
$209.8
$74.8
$50.3
$130.6
$54.8
$24.8
$128.1
$31.7
$89.7
$65.8
$54.1
$85.6
$51.3
$16.1
$22.8
$152.8
$124.7
$72.2
$31.1
$126.7
$100.5
$81.9
$145.5
758
745
714
$95.3
$91.5
$100.7
1,297
1,245
1,221
1,225
$93.2
$89.0
$84.0
$89.7
Page 215
Schedule 27
Largest CU by Assets
per Member
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Number
of
Location
Province
Members
Crosstown Civic
Rosenort
North Shore
Cambrian
Weyburn
Steinbach
Lakeland
Northern Savings
Shell Employees'
Shaunavon
Mennonite Savings
Access
Westminster Savings
Prospera
Synergy
Rocky
TCU Financial Group
Entegra
Wainwright
Prairie Centre
Unity
Beaumont
2012
Winnipeg
Rosenort
North Vancouver
Winnipeg
Weyburn
Steinbach
Bonnyville
Prince Rupert
Calgary
Shaunavon
Kitchener
Halifax
Winnipeg
New Westminster
Vancouver
Abbotsford
Lloydminster
Saskatoon
Langley
Winnipeg
Wainwright
Rosetown
Unity
Beaumont
Top 25
2011
2010
2009
2012
2011
2010
2009
Top 25
Top 25
Top 25
# of CUs
121
106
108
113
Manitoba
Manitoba
British Columbia
Manitoba
Saskatchewan
Manitoba
Alberta
British Columbia
Alberta
Saskatchewan
Ontario
Nova Scotia
Manitoba
British Columbia
British Columbia
British Columbia
Saskatchewan
Alberta
Saskatchewan
British Columbia
Manitoba
Alberta
Saskatchewan
Saskatchewan
Alberta
Assets
per
Member
29,927
4,383
39,696
52,279
8,063
77,634
10,678
18,133
5,960
2,893
18,981
7,643
35,621
55,467
26,358
57,107
28,356
7,901
14,429
154,370
13,174
10,159
12,952
4,841
5,938
702,943
1,699
248
2,199
2,764
419
3,963
534
822
264
128
827
329
1,507
2,291
1,088
2,316
1,128
308
552
5,887
502
378
477
178
218
31,027
$56,757
$56,660
$55,406
$52,875
$51,992
$51,041
$50,002
$45,307
$44,372
$44,231
$43,552
$42,982
$42,313
$41,306
$41,278
$40,555
$39,796
$38,993
$38,288
$38,134
$38,100
$37,206
$36,832
$36,785
$36,762
$44,138
1,131,289
1,101,496
1,056,403
$44,963
40,793
$39,164
$37,035
$35,871
4,401,594
4,242,363
4,163,418
4,193,583
$30,992
$29,324
$27,115
$25,942
Page 216
Schedule 28
Staffing Effeciency
Net Income/Employee
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Net
Number of Income/
Employees Employee
Location
Province
Crosstown Civic
Cambrian
Steinbach
Lakeland
Creston & District
Buduchnist
Rosenort
Synergy
Innovation
First Ontario
Carpathia
Conexus
Shell Employees'
Parama Lithuanian*
Sudbury
Biggar & District*
Servus
Access
Kawartha
Affinity
Libro
Weyburn
Sharons*
2012
Winnipeg
Winnipeg
Steinbach
Bonnyville
Toronto
Creston
Toronto
Rosenort
Lloydminster
North Battleford
Hamilton
Winnipeg
Regina
Calgary
Toronto
Sudbury
Surrey
Biggar
Edmonton
Winnipeg
Peterborough
Saskatoon
London
Weyburn
Vancouver
Top 25
Manitoba
Manitoba
Manitoba
Alberta
Ontario
British Columbia
Ontario
Manitoba
Saskatchewan
Saskatchewan
Ontario
Manitoba
Saskatchewan
Alberta
Ontario
Ontario
British Columbia
Saskatchewan
Alberta
Manitoba
Ontario
Saskatchewan
Ontario
Saskatchewan
British Columbia
2011
2010
2009
2012
2011
2010
2009
Top 25
Top 25
Top 25
# of CUs
114
115
115
120
105
200
250
78
137
19
78
22
226
300
315
53
900
19
21
66
1,817
37
2,300
241
238
610
295
91
40
8,458
$123,205
$111,765
$100,625
$95,573
$89,942
$60,697
$51,861
$51,542
$45,903
$45,420
$45,038
$44,465
$42,773
$42,241
$41,408
$39,807
$39,417
$39,408
$38,800
$38,104
$37,845
$37,297
$36,220
$35,563
$35,508
$45,932
8,254
10,481
7,471
$46,659
$37,289
$70,501
$24,024
$22,613
$16,325
-
$27,858
$30,638
$29,499
-
Page 217
Schedule 29
Staffing Effeciency
Lowest average salary cost
per employee
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Location
Province
Oakbank*
Casera
Hald-Nor Community
Vanguard*
First
Sunshine Coast
Estonian
Noventis
Sharons*
Carpathia
Aldergrove
Portage
Lake View
East Coast
Westoba
Sunova
Northern
Dauphin Plains
Entegra
Integris
Osoyoos
Northern Savings
Swan Valley*
Niverville
2012
Oak Bank
Winnipeg
Caledonia
Rossburn
Powell River
Gibsons
Toronto
Gimli
Vancouver
Winnipeg
Burnaby
Aldergrove
Portage La Prairie
Dawson Creek
Darmouth
Brandon
Selkirk
Sault Ste. Marie
Dauphin
Winnipeg
Prince George
Osoyoos
Prince Rupert
Swan River
Niverville
Top 25
Manitoba
Manitoba
Ontario
Manitoba
British Columbia
British Columbia
Ontario
Manitoba
British Columbia
Manitoba
British Columbia
British Columbia
Manitoba
British Columbia
Nova Scotia
Manitoba
Manitoba
Ontario
Manitoba
Manitoba
British Columbia
British Columbia
British Columbia
Manitoba
Manitoba
2011
2010
2009
2012
2011
2010
2009
Top 25
Top 25
Top 25
# of CUs
113
115
115
120
Number of Salary/
Employees employee
35
61
50
109
136
110
15
120
40
53
48
130
53
80
129
265
200
286
49
68
183
23
200
59
36
2,538
$32,350
$39,972
$42,110
$46,417
$48,609
$48,983
$49,066
$49,521
$52,317
$52,420
$53,372
$53,407
$54,466
$54,874
$54,962
$54,980
$54,986
$55,417
$55,733
$55,838
$55,974
$56,256
$56,421
$56,508
$56,839
$52,916
7,380
8,796
7,471
$74,905
$75,566
$70,458
23,167
22,613
16,308
13,074
$69,232
$71,162
$67,363
$64,492
Page 218
Schedule 30
Staffing Effeciency
Highest average salary cost
per employee
Number of Salary/
Employees employee
Location
Province
1
Steinbach
Steinbach
Manitoba
250
$97,140
2
Innovation
North Battleford
Saskatchewan
300
$96,413
3
Westminster Savings
New Westminster
British Columbia
350
$87,803
4
North Shore
North Vancouver
British Columbia
318
$85,469
5
Community Savings
Surrey
British Columbia
88
$85,426
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Interior Savings
Mennonite Savings
Columbia Valley
Spectra
Alterna Savings
Synergy
Cambrian
Shell Employees'
SunRise
Servus
Creston & District
Meridian
Your
The Police*
Libro
2012
Kelona
Kitchener
Toronto
Vancouver
Golden
Estevan
Vancouver
Ottawa
Lloydminster
Winnipeg
Calgary
Treherne
Edmonton
Creston
St. Catharines
Windsor
Ottawa
Toronto
London
Waterloo
Top 25
British Columbia
Ontario
Ontario
British Columbia
British Columbia
Saskatchewan
British Columbia
Ontario
Saskatchewan
Manitoba
Alberta
Manitoba
Alberta
British Columbia
Ontario
Ontario
Ontario
Ontario
Ontario
Ontario
456
126
137
2,286
15
160
194
449
226
200
19
163
2,300
19
1146
46
45
45
295
122
9,755
$84,204
$83,135
$82,131
$81,216
$78,112
$77,423
$77,407
$76,450
$76,062
$75,730
$75,082
$74,806
$74,323
$73,960
$73,959
$73,826
$73,378
$73,181
$73,041
$72,328
$79,010
8,611
$74,343
2011
Top 25
Page 219
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Schedule 31
Capitalization
Ranked by Largest
Capital Ratios
Member
2012
Shares &
Assets
Capital
Location
($Mils)
($000)
Battle River
Lakeland
Creston & District
First
Rocky
Synergy
Columbia Valley
Aldergrove
Shaunavon
Affinity
Mennonite Savings
Wainwright
Momentum*
Buduchnist
Sudbury
Chinook
Biggar & District*
Servus
Nelson & District
Sunshine Coast
Beaumont
Lambton Financial*
Camrose
Toronto
Bonnyville
Creston
Powell River
Lloydminster
Golden
Aldergrove
Shaunavon
Saskatoon
Kitchener
Wainwright
Hamilton
Toronto
Sudbury
Toronto
Brooks
Biggar
Edmonton
Nelson
Gibsons
Waterloo
Beaumont
Sarnia
579
144
534
118
237
308
1,128
143
533
128
2,474
827
378
160
622
327
1,277
807
146
12,185
175
370
726
218
200
24,743
80,126
19,862
72,124
15,748
25,198
30,874
102,514
12,859
47,107
11,175
215,212
71,829
31,973
13,233
51,104
26,746
104,194
65,738
11,708
976,865
13,979
29,495
57,728
17,230
15,794
2,120,416
13.83%
13.80%
13.51%
13.34%
10.64%
10.02%
9.08%
8.97%
8.84%
8.73%
8.70%
8.69%
8.46%
8.28%
8.22%
8.19%
8.16%
8.15%
8.04%
8.02%
8.01%
7.98%
7.95%
7.89%
7.89%
8.57%
Top 25
Top 25
Top 25
# of CUs
125
115
115
120
25,711
20,813
14,087
2,171,367
1,775,451
1,220,497
8.45%
8.53%
8.68%
137,329
125,797
113,742
109,830
9,148,118
8,378,997
7,593,603
7,047,575
6.66%
6.66%
6.68%
6.42%
2011
2010
2009
2012
2011
2010
2009
Member
Shares &
Capital
% of
Assets
Page 220
Schedule 32
Capitalization
Ranked by Lowest
Capital Ratios
Member
2012
Shares &
Assets
Capital
Location
($Mils)
($000)
1
Northern Savings
Prince Rupert
2
North Shore
North Vancouver
3
The Police*
Toronto
4
Integris
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Community Savings
Starbuck
Oakbank*
Rosenort
Casera
Dauphin Plains
Prospera
Shell Employees'
Northern Lights
Hamilton Teachers
Assiniboine
Education*
Lake View
Steinbach
Coastal Community
Carpathia
Your
Entegra
Portage
Swan Valley*
2012
Surrey
Winnipeg
Oak Bank
Rosenort
Winnipeg
Dauphin
Abbotsford
Calgary
Thunder Bay
Hamilton
Winnipeg
Kitchener
Dawson Creek
Steinbach
Nanaimo
Winnipeg
Ottawa
Winnipeg
Portage La Prairie
Swan River
Top 25
2011
Member
Shares &
Capital
% of
Assets
822
37,798
4.60%
2,199
106,462
4.84%
229
11,151
4.87%
Prince George
523
25,993
4.97%
St. John's
489
24,501
5.01%
430
173
190
248
314
217
2,316
264
162
438
3,431
159
288
3,963
1,700
358
204
502
243
233
20,096
21,574
8,723
9,659
12,905
16,414
11,386
121,994
14,083
8,891
24,087
188,800
8,823
16,154
222,482
96,247
20,294
11,626
28,603
13,862
13,410
1,075,923
5.02%
5.04%
5.09%
5.20%
5.23%
5.25%
5.27%
5.33%
5.48%
5.49%
5.50%
5.55%
5.61%
5.61%
5.66%
5.67%
5.70%
5.70%
5.70%
5.75%
5.35%
32,353
1,770,767
5.47%
Top 25
Page 221
Schedule 33
Largest Capitalization
Risk Adjusted Ratio
(BIS ratio)
(est) estimated capital ratio
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Risk
Adjusted
Total
Assets
Capital
($000)
($000)
Capital
% of
Risk
Adjusted
Assets
Location
Creston & District
Columbia Valley
Lakeland
Battle River
Osoyoos
Sunshine Coast
Lake View
Bulkley Valley
VantageOne
Interior Savings
Rocky
Sudbury
Nelson & District
Kootenay Savings
Aldergrove
PenFinancial
Estonian
Synergy
2012
Creston
Golden
Bonnyville
Toronto
Camrose
Osoyoos
Gibsons
Dawson Creek
Smithers
Vernon
Kelona
Summerland
Waterloo
Sudbury
Nelson
Grand Forks
Vancouver
Toronto
Trail
Aldergrove
Welland
Toronto
Lloydminster
Burnaby
Top 25
45,854
43,181
272,166
76,321
345,176
39,987
134,068
81,396
108,571
108,571
870,840
75,153
165,429
315,309
149,205
65,800
70,694
427,670
603,106
472,744
282,354
161,856
48,835
649,660
66,202
5,680,149
15,865
12,859
72,124
19,862
81,456
9,321
29,495
17,907
20,574
20,574
163,718
14,106
30,439
57,728
27,155
11,953
12,725
73,773
102,528
78,901
47,107
26,900
7,765
103,231
10,447
1,068,515
34.60%
29.78%
26.50%
26.02%
23.60%
23.31%
22.00%
22.00%
18.95%
18.95%
18.80%
18.77%
18.40%
18.31%
18.20%
18.17%
18.00%
17.25%
17.00%
16.69%
16.68%
16.62%
15.90%
15.89%
15.78%
18.81%
Top 25
Top 25
Top 25
# of CUs
112
96
84
91
5,961,434
6,576,976
1,056,303
1,135,407
17.72%
17.26%
17.04%
61,099,381
62,751,987
49,004,655
43,242,838
8,135,782
8,151,851
6,570,794
5,286,400
13.32%
12.99%
13.41%
12.22%
2011
2010
2009
2012
2011
2010
2009
Page 222
Schedule 34
Lowest Capitalization
Risk Adjusted Ratio
(BIS ratio)
Risk
(est) estimated capital ratio
Capital
% of
Adjusted
Total
Risk
Assets
Capital
Adjusted
Location
($Mils)
($000)
Assets
1
Starbuck
Winnipeg
106,774
8,723
8.17%
2
Dauphin Plains
Dauphin
136,039
11,386
8.37%
3
Steinbach
Steinbach
2,478,516
222,482
8.98%
4
Northern Savings
Prince Rupert
420,721
37,798
8.98%
5
North Shore
North Vancouver
1,314,721
121,952
9.28%
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Northern Lights
Thunder Bay
Prospera
Abbotsford
Westoba
Brandon
Entegra
Winnipeg
Advantage
Melfort
Assiniboine
Winnipeg
Noventis
Gimli
Healthcare & Municipal Employees'* Hamilton
Prairie Centre
Rosetown
United Communities
Essex
Libro
London
Carpathia
Winnipeg
Weyburn
Weyburn
Sunrise
Treherne
Diamond North
Nipawin
Portage
Portage La Prairie
Horizon
Melville
Rosenort
Rosenort
The Police*
Toronto
Crossroads*
Canora
2012
Top 25
102,061
1,264,527
734,650
297,609
270,375
1,893,187
289,183
93,153
311,641
450,598
1,043,451
192,107
301,098
419,666
234,982
126,706
114,455
116,848
101,215
143,553
12,957,838
9,573
120,245
70,086
28,603
26,535
188,800
29,059
9,514
31,943
46,562
109,145
20,355
32,128
45,177
25,660
13,862
12,544
12,853
11,151
15,820
1,261,958
9.38%
9.51%
9.54%
9.61%
9.81%
9.97%
10.05%
10.21%
10.25%
10.33%
10.46%
10.60%
10.67%
10.77%
10.92%
10.94%
10.96%
11.00%
11.02%
11.02%
9.74%
18,071,561
1,827,587
10.11%
2011
Top 25
Page 223
Schedule 35
Agriculture Loans
as % of total loans
(largest exposure)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Location
Province
Mennonite Savings
Sunrise
Libro
Prairie Centre
Crossroads*
Portage
United Communities
Battle River
Access
Rosenort
Noventis
Innovation
Sydenham Community
Mountain View
1st Choice Savings
Westoba
Wainwright
Chinook
Weyburn
Steinbach
Dauphin Plains
Conexus
Starbuck
Synergy
Christian
2012
Kitchener
Treherne
London
Rosetown
Canora
Portage La Prairie
Essex
Camrose
Winnipeg
Rosenort
Gimli
North Battleford
Strathroy
Olds
Leithbridge
Brandon
Wainwright
Brooks
Weyburn
Steinbach
Dauphin
Regina
Winnipeg
Lloydminster
Edmonton
Top 25
Ontario
Manitoba
Ontario
Saskatchewan
Saskatchewan
Manitoba
Ontario
Alberta
Manitoba
Manitoba
Manitoba
Saskatchewan
Ontario
Alberta
Alberta
Manitoba
Alberta
Alberta
Saskatchewan
Manitoba
Manitoba
Saskatchewan
Manitoba
Saskatchewan
Alberta
2011
2010
2009
2012
2011
2010
2009
Top 25
Top 25
Top 25
# of CUs
36
31
32
37
Agriculture
Loans
($000s)
Gross
Loans
($000s)
Agriculture
Loans
%
329,446
738,762
207,075
647,375
418,953
1,432,396
97,222
380,886
39,100
156,399
49,832
205,820
140,850
608,700
96,676
442,922
284,910
1,312,417
38,681
187,530
79,995
392,074
243,016
1,206,314
30,557
153,126
78,837
442,764
53,583
339,892
144,561
929,101
40,189
282,355
90,478
678,732
42,314
328,794
372,685
3,220,666
19,245
187,435
309,699
3,437,873
13,428
159,378
72,191
890,523
6,828
127,730
3,300,353
18,889,964
44.6%
32.0%
29.2%
25.5%
25.0%
24.2%
23.1%
21.8%
21.7%
20.6%
20.4%
20.1%
20.0%
17.8%
15.8%
15.6%
14.2%
13.3%
12.9%
11.6%
10.3%
9.0%
8.4%
8.1%
5.3%
17.5%
3,023,954
2,615,092
2,733,791
26,396,982
14,921,952
14,362,324
11.5%
17.5%
19.3%
3,671,188
3,043,091
2,891,301
2,883,187
31,466,597
28,660,701
26,556,041
26,406,406
11.7%
10.6%
10.9%
10.9%
Page 224
Schedule 36
Commercial Loans
as % of total loans
(largest exposure)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Total
Commercial
Loans
Province
($000s)
Location
Weyburn
Windsor Family
Westoba
Shaunavon
Alterna Savings
Carpathia
Steinbach
Nelson & District
Prairie Centre
Sunrise
Horizon
North Shore
Wainwright
Crosstown Civic
Crossroads*
Starbuck
Meridian
First Ontario
Servus
Integris
Buduchnist
2012
Weyburn
Windsor
Brandon
Windsor
Shaunavon
Ottawa
Winnipeg
Steinbach
Nelson
Rosetown
Treherne
Melville
North Vancouver
Toronto
Wainwright
Winnipeg
Canora
Winnipeg
Burnaby
St. Catharines
Hamilton
Calgary
Edmonton
Prince George
Toronto
Top 25
2011
2010
2009
2012
2011
2010
2009
Top 25
Top 25
Top 25
# of CUs
110
94
96
109
Saskatchewan
Ontario
Manitoba
Ontario
Saskatchewan
Ontario
Manitoba
Manitoba
British Columbia
Saskatchewan
Manitoba
Saskatchewan
British Columbia
Ontario
Alberta
Manitoba
Saskatchewan
Manitoba
British Columbia
Ontario
Ontario
Alberta
Alberta
British Columbia
Ontario
Gross
Loans
($000s)
Commercial
Loans
%
158,381
345,934
405,173
76,616
28,667
811,989
115,209
1,103,246
37,925
130,396
220,341
44,593
650,581
343,730
93,254
432,353
50,048
50,332
55,218
2,362,778
504,412
663,004
3,182,053
133,050
159,917
12,159,201
328,794
784,713
929,101
180,193
71,804
2,074,745
303,028
3,220,666
110,754
380,886
647,375
132,053
1,938,746
1,032,096
282,355
1,343,910
156,399
159,378
175,173
7,516,228
1,621,497
2,204,798
10,675,619
453,324
546,770
37,270,404
48.2%
44.1%
43.6%
42.5%
39.9%
39.1%
38.0%
34.3%
34.2%
34.2%
34.0%
33.8%
33.6%
33.3%
33.0%
32.2%
32.0%
31.6%
31.5%
31.4%
31.1%
30.1%
29.8%
29.3%
29.2%
32.6%
8,284,972
11,835,048
9,274,167
17,360,642
36,710,847
19,580,659
47.7%
32.2%
47.4%
27,530,329 113,771,865
30,344,860 100,224,651
21,431,942
91,076,298
28,044,621
90,652,531
24.2%
30.3%
23.5%
30.9%
*Commercial loans includes commercial mortgages, agriculture loans and business loans and leases.
Page 225
Schedule 37
Largest Commercial
Loan Lenders
Total
Commercial
Loans
Province
($000s)
Gross
Loans
($000s)
Commercial
Loans
%
Location
Servus
Meridian
Conexus
Steinbach
Libro
Alterna Savings
Westminster Savings
Access
Cambrian
North Shore
Innovation
Prospera
Westoba
Assiniboine
First Ontario
Mennonite Savings
Interior Savings
Vancouver
Edmonton
Surrey
St. Catharines
Regina
Steinbach
Langley
London
Ottawa
Calgary
New Westminster
Winnipeg
Winnipeg
North Vancouver
North Battleford
Abbotsford
Brandon
Winnipeg
Hamilton
Kitchener
Kelona
British Columbia
Alberta
British Columbia
Ontario
Saskatchewan
Manitoba
British Columbia
Ontario
Ontario
Alberta
British Columbia
Manitoba
Manitoba
British Columbia
Saskatchewan
British Columbia
Manitoba
Manitoba
Ontario
Ontario
British Columbia
4,067,724
3,493,474
2,493,042
2,362,778
1,555,139
1,475,931
1,447,530
823,349
811,989
780,324
735,662
725,366
678,278
650,581
589,525
565,640
549,734
508,132
504,412
463,926
460,912
14,425,661
10,675,619
10,785,236
7,516,228
3,437,873
3,220,666
5,168,579
1,432,396
2,074,745
2,204,798
2,010,153
1,312,417
2,185,586
1,938,746
1,206,314
2,105,626
929,101
2,852,554
1,621,497
738,762
1,824,029
28.2%
32.7%
23.1%
31.4%
45.2%
45.8%
28.0%
57.5%
39.1%
35.4%
36.6%
55.3%
31.0%
33.6%
48.9%
26.9%
59.2%
17.8%
31.1%
62.8%
25.3%
22 Crosstown Civic
23 SunRise
24 Coastal Community
Winnipeg
Treherne
Nanaimo
Manitoba
Manitoba
British Columbia
432,353
427,416
355,978
1,343,910
647,375
1,517,381
32.2%
66.0%
23.5%
25 Windsor Family
Windsor
Ontario
353,841
784,713
45.1%
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
2012
Top 25
27,313,036
83,959,964
32.5%
*Commercial loans includes commercial mortgages, agriculture loans and business loans and leases.
Page 226
Schedule 38
as % of total loans
(largest exposure)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Name of credit union Location
Province
The Police*
Bulkley Valley
Northern Savings
Winnipeg Police
Prosperity One*
Estonian
Affinity
Casera
Shell Employees'
First
Lake View
TCU Financial Group
Parama Lithuanian*
PenFinancial
Sunshine Coast
Columbia Valley
Diamond North
Lambton Financial*
Ukrainian
Interior Savings
2012
Ontario
Ontario
British Columbia
British Columbia
Manitoba
Ontario
Ontario
Ontario
Saskatchewan
Manitoba
Alberta
British Columbia
British Columbia
Saskatchewan
Ontario
British Columbia
Ontario
British Columbia
British Columbia
Saskatchewan
Ontario
Ontario
British Columbia
Newfoundland
British Columbia
2011
2010
2009
2012
2011
2010
2009
Toronto
Barrie
Smithers
Prince Rupert
Winnipeg
Waterloo
Milton
Toronto
Saskatoon
Winnipeg
Calgary
Powell River
Dawson Creek
Saskatoon
Toronto
Surrey
Welland
Gibsons
Golden
Nipawin
Sarnia
Toronto
Kelona
St. John's
Vancouver
Top 25
Top 25
Top 25
Top 25
# of CUs
113
96
100
116
Residential
Mortgages
($000s)
Gross
Loans
($000s)
Residential
Mortgages
%
181,235
119,367
172,267
553,983
115,242
525,245
142,182
58,789
1,578,778
220,054
155,192
143,101
128,438
331,976
134,422
8,013,205
209,401
240,366
53,979
203,865
104,274
358,382
1,284,063
292,918
664,051
15,984,775
200,725
134,261
206,494
676,992
141,825
649,052
179,302
74,189
2,022,527
283,503
203,402
190,510
171,130
443,317
180,182
10,785,236
282,332
327,445
75,519
286,262
147,151
505,756
1,824,029
416,161
958,574
21,365,876
90.3%
88.9%
83.4%
81.8%
81.3%
80.9%
79.3%
79.2%
78.1%
77.6%
76.3%
75.1%
75.1%
74.9%
74.6%
74.3%
74.2%
73.4%
71.5%
71.2%
70.9%
70.9%
70.4%
70.4%
69.3%
74.8%
14,556,712
12,459,789
4,140,369
19,462,889
16,918,042
5,317,700
74.8%
73.6%
77.9%
65,509,358 114,482,917
57,765,439 100,832,441
51,175,442
91,911,180
49,356,697
89,637,471
57.2%
57.3%
55.7%
55.1%
Page 227
Schedule 39
Largest Residential
Mortgage Lenders
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Residential
Mortgages
($000s)
Gross
Loans
($000s)
Residential
Mortgages
%
Name of credit union Location
Province
Surrey
Vancouver
Servus
Edmonton
Meridian
St. Catharines
First West (formerly Envision)Langley
Assiniboine
Winnipeg
Affinity
Saskatoon
Steinbach
Steinbach
Conexus
Regina
Interior Savings
Kelona
Calgary
North Shore
North Vancouver
Prospera
Abbotsford
Cambrian
Winnipeg
Westminster Savings
New Westminster
Alterna Savings
Ottawa
Coastal Community
Nanaimo
First Ontario
Hamilton
Crosstown Civic
Winnipeg
Island Savings
Duncan
Toronto
British Columbia
British Columbia
Alberta
Ontario
British Columbia
Manitoba
Saskatchewan
Manitoba
Saskatchewan
British Columbia
Alberta
British Columbia
British Columbia
Manitoba
British Columbia
Ontario
British Columbia
Ontario
Manitoba
British Columbia
Ontario
8,013,205
7,426,860
6,121,552
4,185,587
2,659,239
1,878,295
1,578,778
1,460,979
1,288,869
1,284,063
1,280,756
1,265,541
1,245,643
1,206,272
1,074,570
1,026,011
998,320
973,833
801,109
793,023
672,607
10,785,236
14,425,661
10,675,619
7,516,228
5,168,579
2,852,554
2,022,527
3,220,666
3,437,873
1,824,029
2,204,798
1,938,746
2,105,626
2,185,586
2,010,153
2,074,745
1,517,381
1,621,497
1,343,910
1,259,713
1,032,096
74.3%
51.5%
57.3%
55.7%
51.5%
65.8%
78.1%
45.4%
37.5%
70.4%
58.1%
65.3%
59.2%
55.2%
53.5%
49.5%
65.8%
60.1%
59.6%
63.0%
65.2%
23 Innovation
24 Northern Savings
Vancouver
North Battleford
Prince Rupert
British Columbia
Saskatchewan
British Columbia
664,051
616,788
553,983
958,574
1,206,314
676,992
69.3%
51.1%
81.8%
25 Your Neighbourhood *
Waterloo
Ontario
525,245
649,052
80.9%
49,595,179
84,714,154
58.5%
2012
Top 25
Page 228
Schedule 40
Consumer Loans
as % of total loans
(largest exposure)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Location
Eagle River
Bayview
Bergengren
Advantage
East Coast
Noventis
Rocky
Shell Employees'
Unity
Beaumont
Osoyoos
Northern Lights
Spectra
Mountain View
Kootenay Savings
Winnipeg Police
Dauphin Plains
Conexus
2012
L'Anse au Loop
Newfoundland
Hamilton
Ontario
St. John
New Brunswick
Antigonish
Nova Scotia
Melfort
Saskatchewan
Darmouth
Nova Scotia
Toronto
Ontario
Gimli
Manitoba
Halifax
Nova Scotia
Alberta
Calgary
Alberta
St. John's
Newfoundland
Unity
Saskatchewan
Beaumont
Alberta
Osoyoos
British Columbia
Summerland
British Columbia
Thunder Bay
Ontario
Langley
British Columbia
Vancouver
British Columbia
Estevan
Saskatchewan
Olds
Alberta
Trail
British Columbia
Winnipeg
Manitoba
Dauphin
Manitoba
Regina
Saskatchewan
Top 25
2011
2010
2009
2012
2011
2010
2009
Province
Top 25
Top 25
Top 25
# of CUs
113
95
98
98
Consumer
Loans
($000s)
Gross Consumer
Loans
Loans
($000s)
%
38,610
60,064
101,288
66,163
131,196
88,590
32,971
125,504
77,925
52,486
48,210
97,720
28,591
43,363
18,261
31,396
29,238
1,061,810
2,931,077
92,705
88,334
150,028
25,553
32,433
593,865
6,047,381
80,693
133,497
267,928
176,484
361,779
259,781
100,432
392,074
287,939
213,662
203,402
416,161
122,913
186,498
83,443
145,787
139,173
5,168,579
14,425,661
464,631
442,764
802,852
141,825
187,435
3,437,873
28,643,266
47.8%
45.0%
37.8%
37.5%
36.3%
34.1%
32.8%
32.0%
27.1%
24.6%
23.7%
23.5%
23.3%
23.3%
21.9%
21.5%
21.0%
20.5%
20.3%
20.0%
20.0%
18.7%
18.0%
17.3%
17.3%
21.1%
6,376,514
5,955,255
5,926,864
30,255,115
27,259,047
25,910,264
21.1%
21.8%
22.9%
13,679,599
12,722,142
12,581,820
12,217,706
113,276,603
99,703,955
91,685,959
87,166,497
12.1%
12.8%
13.7%
14.0%
Page 229
Schedule 41
Largest Consumer
Loan Lenders
Consumer
Loans
($000s)
Location
Province
Servus
Meridian
Conexus
Assiniboine
Affinity
Cambrian
Prospera
Steinbach
Alterna Savings
Westminster Savings
Libro
Coastal Community
Kootenay Savings
First Ontario
Kawartha
Island Savings
Advantage
Vancouver
Langley
Edmonton
St. Catharines
Regina
Winnipeg
Saskatoon
Winnipeg
Abbotsford
Steinbach
Surrey
Ottawa
New Westminster
London
Nanaimo
Trail
Calgary
Hamilton
Peterborough
Duncan
Melfort
British Columbia 2,931,077
British Columbia 1,061,810
Alberta
1,060,593
Ontario
967,863
Saskatchewan
593,865
Manitoba
466,127
Saskatchewan
334,884
Manitoba
301,036
British Columbia
294,343
Manitoba
283,756
British Columbia
278,989
Ontario
236,745
British Columbia
199,921
Ontario
163,272
British Columbia
163,083
British Columbia
150,028
Alberta
143,718
Ontario
143,252
Ontario
140,135
British Columbia
139,032
Saskatchewan
131,196
22 Noventis
23 Crosstown Civic
24 Bayview
Gimli
Winnipeg
St. John
Manitoba
Manitoba
New Brunswick
25 Synergy
Lloydminster
Saskatchewan
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
2012
Top 25
Gross Consumer
Loans
Loans
($000s)
%
14,425,661
5,168,579
10,675,619
7,516,228
3,437,873
2,852,554
2,022,527
2,185,586
2,105,626
3,220,666
10,785,236
2,074,745
2,010,153
1,432,396
1,517,381
802,852
2,204,798
1,621,497
863,887
1,259,713
361,779
20.3%
20.5%
9.9%
12.9%
17.3%
16.3%
16.6%
13.8%
14.0%
8.8%
2.6%
11.4%
9.9%
11.4%
10.7%
18.7%
6.5%
8.8%
16.2%
11.0%
36.3%
125,504
110,448
101,288
392,074
1,343,910
267,928
32.0%
8.2%
37.8%
100,705
890,523
11.3%
10,622,670
81,439,790
13.0%
Page 230
Profile Bob (Bohdan) Leshchyshen
Bob (Bohdan) Leshchyshen’s analytical career has spanned more than 30 years with
particular emphasis on the financial services sector and special situations.
His chartered bank and credit union regulatory experience includes senior positions with the
Deposit Insurance Corporation of Ontario (DICO) and the Office of the
Superintendent of Financial Institutions (Federal regulator).
He has extensive research and analytical experience with several prominent equity research
and credit-rating organizations, including Independent Equity Research (eResearch),
Northern Securities, St. James Securities, Dominion Bond Rating Service, PPM
Fund Mangers (Canada), a unit of Prudential Life Insurance Company, and McNeil
Mantha.
Bob’s Credit Union experience includes over nineteen years as a Director of Buduchnist
Credit Union. He was also a Director of Selient Inc., a public company providing lending
software to credit unions in Canada. Recently, he was a Director of Northwest & Ethical
Investments LLP (formerly The Ethical Funds Inc.), a mutual fund company owned by the
Credit Union Centrals in Canada and the Desjardins Movement in Quebec (2006-2009).
He was the Director of Corporate Development with CHF Investor Relations and in April
2011 was appointed Vice President, Corporate Development & Investor Relations for
Century Iron Mines Corporation.
He has a BA from the University of Toronto and an MBA from the University of Toronto Faculty of Management Studies (Rotman School of Management) and holds a CFA
designation (Chartered Financial Analyst) from the CFA Institute.
For further information and past reports, please visit:
www.canadiancreditunion.ca
Page 231

the 2012 Largest Canadian Credit Union Analysis

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