SCU has surpassed $2.85 billion in total assets. The new milestone was announced by the SCU Board of Directors at the annual general meeting on March 2, 2010.
This significant increase over last year’s level means SCU remains Manitoba’s largest credit union, and the seventh largest in Canada. “The momentum of our success is building. Members,, new and existing, recognize that our prosperity is built on a high standard of integrity, and they have chosen SCU to manage their money,” said SCU Board President Ted Falk. “This is a tremendous vote of confidence that our unparalleled level of service not only helps to maintain our membership, but also keeps it growing,” he added.
SCU reached the $1 billion asset mark in 2001, and hit $2 billion just five years later in 2006. CEO Glenn Friesen reminded members “Such growth is unequalled in this marketplace and is a result of our eyes being firmly fixed on the goals of our members. Whether they are individual members doing personal banking, or business or agricultural members seeking specialized products and services, we offer our support with their best interest in mind.”
At the same time, SCU confirmed that construction of its second Winnipeg branch at the corner of Lagimodiere and Almey on Winnipeg’s fast-growing east side is in the final stages. “We’re very excited about moving into that neighbourhood in May. Many of our members live and work in that area and we look forward to serving them right in their own back yard,” said Falk. The new branch will be similar in size to the very successful Linden Ridge branch in Southwest Winnipeg.
SCU serves more than 75,000 members with branches in Steinbach and Winnipeg and has been in business for 69 years.