At Credit Union Central Alberta’s annual meeting today in Edmonton, the Alberta credit union system celebrated another very strong year of financial and operational results for 2005.

The credit union system’s total assets were $10.9 billion at year end (Oct. 31, 2005), which includes an exceptional growth of $1.1 billion and an increase of 11% from the 2004 year end.

The system’s capital base also experienced tremendous growth of nearly 16% in 2005, demonstrating ongoing strength and viability within the credit union movement in Alberta.

Credit unions achieved another record for operating results in 2005, reaching $105 million in earnings, compared to the previous year’s record of $90 million.

A total of $47 million in patronage rebates and share dividends were allocated to credit union members this past year.

“This past year’s growth and profitability is truly amazing, and demonstrates our credit unions’ ability to deliver superior financial performance through improved operating efficiencies, while staying true to their community roots and maintaining a high level of member satisfaction,” said Jim Scopick, president & CEO of Credit Union Central Alberta Ltd.