Canada’s Credit Unions lead with positive change. Credit unions united have the power to lead positive change and have a transformative role in shaping Canadians’ future, Jeff Guthrie, CEO of the Canadian Credit Unions Association (CCUA), told attendees at a global gathering of credit union representatives at the 2023 World Credit Union Conference (WCUC) in Vancouver this July.
In his address, Guthrie highlighted the unwavering commitment of Canadian credit unions to building a better future for individuals and communities. With a focus on tailor-made financial services and personalized support, credit unions in Canada place the needs and aspirations of their members at the forefront.
A continued commitment to excellence
This dedication to exceptional customer service has been recognized through the Ipsos Financial Service Excellence Award for Customer Service, which Canadian credit unions have received for an impressive 18 consecutive years.
Over 10 million Canadians are served by credit unions, and over 60,000 Canadians work for a credit union or caisse populaire.
Credit unions are seamlessly woven into the fabric of communities from coast to coast to coast.
“From the start, the success of credit unions has been, and always will be, people helping people. It’s in our DNA and spelled out in our guiding principles,” Guthrie said.
“We have an abundance of talent, passion, and creativity within this sector.”
Guided by cooperative principles, credit unions operate with the fundamental belief of putting members’ needs first. This ethos fosters a collaborative and supportive environment, focusing on the well-being of its members rather than solely maximizing profits.
When you join a credit union, you become a member and an owner. This distinction ensures a more personalized banking experience where your voice matters. Credit unions operate on a cooperative model, allowing members to have a say in decision-making processes.
Collective action with a focus on community
Credit unions place a strong emphasis on the communities they serve. They actively contribute to local initiatives, promote financial literacy and support programs that enable homeownership. For members, banking with a credit union means directly supporting the well-being of its community.
Amidst the challenges of income inequality, financial uncertainty, and evolving regulations, Guthrie called for unity and collective action within the credit union sector. He emphasized the power of the cooperative spirit that unites credit unions globally, recognizing its potential to effect positive change.