2023 marked another impressive year of growth for Manitoba's credit unions, which in turn fuels the growth of the province.
Total system assets grew by $1.5 billion (to a total of $43.2 billion) - a 3.7 per cent increase over 2022. This is partly due to the 12,870 new memberships opened during the year, bringing the total in Manitoba to more than 735,000.
Manitobans showed their confidence in credit unions with over $38.6 billion in deposits, an increase of 3.5 per cent, or $1.3 billion from 2022. Additionally, powering growth in our province, $1.7 billion more was loaned out in 2023 (a 4.7 per cent increase), at a total of $36.8 billion for the year.
Serving more than half of all Manitobans, credit unions operate from 181 branches in 115 communities - 75 of which the credit union or caisse populaires is the only financial institution in town serving residents and businesses.