(June 15 – 09:30 ET) – The Alberta Credit Union System today announced its six-month results for the period ended April 30, 2000 — surpassing the $6 billion mark in combined credit union assets. This figure reflects growing strength in the system, with a 12% increase in assets compared to the same time last year, and a 6% increase in the first half of this year.
Alberta CU also reported net income before taxes and dividends of $27.3 million compared to $24.9 million at the same time last year, an increase of 10%.
A record $27 million in earnings was returned to credit union member-owners in the form of common share dividends and patronage rebates last year. “Profits stay local. That’s one of the features of Credit Unions that makes us different. With this year’s earnings signifying another record-breaking year, credit union members can look forward to reaping the benefits of ownership once again,” stated Terry Cooper, chairman of Credit Union Central Alberta, in a press releases.
-IE Staff