The Alberta credit union system is reporting continued growth. As of July 31, 2002 the system surpassed the $8 billion mark in combined credit union assets, an 11% increase in total assets compared to the same time last year, and a 10% annualized growth rate for the first three quarters of this fiscal year.

The credit union system’s combined earnings before taxes and dividends as at July 31, 2002 were $54.3 million, up $2 million over the same period in 2001. Total equity was $545.6 million, up 16%, and the system’s loan portfolio also increased by 16.2% compared to last year’s figures. The system’s continued growth demonstrates credit union commitment to service excellence, and explains why over a half-million Albertans put their trust in this provinces’ credit unions.

Alberta credit unions also continue to demonstrate their ongoing commitment to the well-being of their communities. A recent survey conducted in the province indicates that in 2001, Alberta credit unions contributed over $1.7 million to charitable causes, representing an impressive 2.5% of the credit union system’s pre-tax profits.