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Credit Unions People Before Profits

As co-operatives, credit unions are owned by their members, which mean that the interests of the customer and the shareholder are always aligned. There is not the pressure of quarterly profits to drive results.

 

All financial services customers expect and deserve excellent, reliable financial services at a good rate.

 

All financial institutions are driven by the need to be profitable, but with credit unions, it’s not the ultimate motive; meeting the needs of our members and community always comes first. This is evidenced by over a decade of recognition by Canadians for customer service excellence that is better than the banks and high satisfaction from small business owners.

 

Canadian credit unions and caisses populaires operate on a business model that enables an organization to be profitable, but not at the expense of its employees or customers.

 

Credit unions return 5.7 per cent of pre-tax income to local communities, compared to one per cent on average for the big banks.

 

Together, credit unions and caisses populaires are responsible for 18.5 per cent of lending to small- and medium-sized enterprises.

 

 

 


© 2012 Pierceland Credit Union