Bob (Bohdan) Leshchyshen
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There are now 7 Ukrainian Credit Unions in Canada located in four provinces, including Quebec, Ontario, Manitoba and Saskatchewan, after So-Use Credit Union agreed to a merger with Ukrainian Credit Union which became effective October 31, 1010. The number was reduced by one from 2008 due to St. Mary’s Credit Union agreeing to merge with Buduchnist Credit Union. The total assets of the 7 credit unions were $1.63 billion, an increase of 9.6% from the previous year. Total membership increased 2.0% to 70,035. The average assets per member was $23,317, an increase of 7.4% from the previous year. Combined, Ukrainian Credit Unions returned just over $2.08 million in dividends and patronage payments to its members or 22.0% of their net income before taxes. Since, Ukrainian Credit unions began making tax efficient patronage payments, they have returned over approximately $30 million to their members. At the end of 2010, Ukrainian Credit Unions were very well capitalized with a capital to assets ratio of 7.41% compared to 7.23% in the previous year. The combined net income was $9.5 million or a ROA of 0.62%, an increase of 16.0% from the previous year.
Download the 2010 Ukrainian Credit Unions Report
There are now 8 Ukrainian Credit Unions in Canada located in four provinces, including Quebec, Ontario, Manitoba and Saskatchewan, soon to be only 7 because So-Use Credit Union has agreed to a merger with Ukrainian Credit Union effective October 31, 1010. The number was reduced by one from 2008 due to St. Mary’s Credit Union agreeing to merge with Buduchnist Credit Union. The total assets of the 8 credit unions were $1.49 billion an increase of 4.49% from the previous year. Total membership declined by 3.8% to 68,653. The average assets per member were $21,706 assets per member, an increase of 8.5% from the previous year. Combined, Ukrainian Credit Unions returned just over $2.15 million in dividends and patronage payments to its members or 26.4% of their net income before taxes. Since, Ukrainian Credit unions began making tax efficient patronage payments, they have returned over approximately $28 million to their members. In 2009, Ukrainian Credit Unions were very well capitalized with a capital to assets ratio of 7.23% compared to 6.95% in the previous year. The combined net income was $8.17 million or a ROA of 0.56%, an increase of 12.5% from the previous year.
Download the 2009 Ukrainian Credit Unions Report
There are now 9 Ukrainian Credit Unions in Canada located in four provinces, including Quebec, Ontario, Manitoba and Saskatchewan. The number was reduced by one from 2007 due to Ukrainian (St. Catharines) Credit Union agreeing to merge with Ukrainian Credit Union. The total assets of the 9 credit unions were $1.43 billion, an increase of 7.9% from the previous year. Total membership declined by 1.3% to 71,338. The average assets per member were $20,007 assets per member, an increase of 9.4% from the previous year. Combined, Ukrainian Credit Unions returned just over $1.2 million in dividends and patronage payments to its members or 16% of their net income before taxes. Since, Ukrainian Credit unions began making tax efficient patronage payments, they have returned over approximately $26 million to their members. In 2008, Ukrainian Credit Unions were very well capitalized with a capital to assets ratio of 6.95% compared to 7.35% in the previous year. The combined net income was $7.27 million or a ROA of 0.56%, a decrease 5.1% from the previous year.
Download the 2008 Ukrainian Credit Unions Report
There are still 10 Ukrainian Credit Unions in Canada located in four provinces, including Quebec, Ontario, Manitoba and Saskatchewan. The total assets of the 10 credit unions were $1.3 billion and represent an increase of 6.2% from the previous year. Total membership increased by 3.3% to 72,280. The average assets per member were $18,284 assets per member. Combined, Ukrainian Credit Unions returned just over $2.6 million in dividends and patronage payments to its members or 22% of their net income before taxes. Since, Ukrainian Credit unions began making tax efficient patronage payments, they have returned over approximately $25 million to their members. In 2007, Ukrainian Credit Unions were very well capitalized with a capital to assets ratio of 7.35%.
Download the 2007 Ukrainian Credit Unions Report
There are now 10 Ukrainian Credit Unions in Canada located in four provinces, including Quebec, Ontario, Manitoba and Saskatchewan. This number was reduced by two from 2005 due to Ukrainian (Calgary) Savings and Credit Union Ltd. merging with Community Savings Credit Union and St. Josaphat’s Parish (Toronto) Credit Union with the assistance of the Deposit Insurance Corporation of Ontario being dissolved. The total assets of the 10 credit unions were $1.2 billion and represent an increase of 6.5% from the previous year. Total membership declined by 1.5% to 70,452. The average assets per member were $17,699 assets per member. This has been the first time that the membership has decreased. Combined, Ukrainian Credit Unions returned just over $2.7 million in dividends and patronage payments to its members or 24% of their net income before taxes. Since, Ukrainian Credit unions began making tax efficient patronage payments, they have returned over $22 million to their members, an average of over $2 million a year. In 2006, Ukrainian Credit Unions were very well capitalized with a capital to assets ratio of 7.38%
Download the 2006 Ukrainian Credit Unions Report
There were 12 Ukrainian Credit Unions in Canada located in five provinces, including Quebec, Ontario, Manitoba, Saskatchewan, and Alberta. This number reduced by one from 2004 due to a merger of two caisses populaires in Montreal. Their total assets were $1.2 billion and represent an increase of 5.5% from the previous year. Total membership increased by .03% to 71,516 averaging $16,486 assets per member. This has been the slowest membership increase over the last six years. Combined, Ukrainian Credit Unions returned just under $2.6 million in dividends and patronage payments to its members or 33% of their net income before taxes. Since, Ukrainian Credit unions began making tax efficient patronage payments, they have returned over $19 million to their members, an average of over $2 million a year. In 2005, Ukrainian Credit Unions were very well capitalized with a capital to assets ratio of 7.35%
Download the 2005 Ukrainian Credit Unions Report
There were 13 Ukrainian Credit Unions in Canada located in five provinces, including Quebec, Ontario, Manitoba, Saskatchewan, and Alberta. This number remained unchanged from 2003. Their total assets were $1.1 billion and represent an increase of 7.5% from the previous year. Total membership increased by 3.1% to 71,392 averaging $15,461 assets per member. This has been the largest memberships increase since 1999, when membership increased by 4.5%. Combined, Ukrainian Credit Unions returned just under $2 million in dividends and patronage payments to its members or 34% of their net income before taxes. Since, Ukrainian Credit unions began making tax efficient patronage payments, they have returned over $16.4 million to their members, an average of over $2 million a year. In 2004, Ukrainian Credit Unions were very well capitalized with a capital to assets ratio of 7.27%.
Download the 2004 Ukrainian Credit Unions Report
There were 13 Ukrainian Credit Unions in Canada located in five provinces, including Quebec, Ontario, Manitoba, Saskatchewan, and Alberta. This number remained unchanged from 2002. Their total assets were $1.0 billion and represent an increase of 7.5% from the previous year. Total membership increased by 2.5% to 69,264 averaging $15,078 assets per member. In total, Ukrainian Credit Unions returned just over $2.4 million in dividends and patronage payments to their members or 31% of their net income before taxes. Ukrainian Credit Unions were very well capitalized with a capital to assets ratio of 7.35%.
Download the 2003 Ukrainian Credit Unions Report
There were 13 Ukrainian Credit Unions in Canada located in five provinces, including Quebec, Ontario, Manitoba, Saskatchewan, and Alberta. This number remained unchanged from 2001. Their total assets were $965 million and represent an increase of 4.0% from the previous year. Total membership increased marginally by 0.5% to 67,524 averaging $14,282 assets per member. Ukrainian Credit Unions returned just over $2.2 million in dividends and patronage payments to their members or 33% of their net income before taxes. Ukrainian Credit Unions were very well capitalized with a capital to assets ratio of 7.40%.
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