(April 9 – 10:00 ET) – On the eve of Credit Union Central of Nova Scotia’s annual meeting, Nova Scotia’s credit unions say they had their best year ever in 2000.

The province’s 45 credit unions saw their assets increase during 2000 by $57 million, or 6.2% to $970 million. This primes them to reach the $1 billion mark this year. Credit Union Central’s assets stood at $621 million at year-end.

“At a time when other financial institutions are pulling out of smaller communities, we’re supporting jobs and growth in our province,” says Robert Mowbrey, president and CEO of Credit Union Central. “We do local business well. As our competitors look to expand into the United States and beyond, we’re continuing to look after the financial needs of people right here in our communities.”

Nova Scotia credit unions returned record-level profits of $1.1 million to their members, maintained their employment levels, and put more than $2.25 million into their local economies through construction projects and computer upgrades. This is in addition to the $331,000 donated to local community groups such as schools, health care facilities, and sports teams. As well, full-time financial services were brought to two communities losing their banks.

Mowbrey says that “with their closeness to members, higher levels of trust compared with big banks, and financial expertise, credit unions offer the alternative services Nova Scotians want and need.”