October 20, 2010 11:15 ET

SaskCentral: Saskatchewan Credit Unions Shine in National Survey

REGINA, SASKATCHEWAN--(Marketwire - Oct. 20, 2010) - Saskatchewan credit unions contributed more than $6.6 million to community efforts in 2009 according to the annual Community Involvement Survey conducted by Credit Union Central of Canada. As Pam Skotnitsky, Executive Vice President, Corporate and Community Affairs at SaskCentral explains, "This contribution represents 9.2 per cent of credit union pre-tax profits – more than nine times the one per cent benchmark for corporate giving recommended by the Canadian Centre for Philanthropy's Imagine program."

The survey shows that $3.8 million of the $6.6 million total to charities or non profit organization was in the form of cash donations or sponsorships. In addition, credit unions continue to increase the help they provide to organizations in their communities through donations-in-kind, scholarships and bursaries, charitable foundation contributions or in reduced or waived financial service charges.

Saskatchewan is known for its generosity and hard-working volunteers. When compared to national data, Saskatchewan credit unions shine:

  • In 2009, Saskatchewan credit unions contributed over $1 million in non-cash donations to community organizations – more than any other province or region.
  • In the same year, volunteer time contributed by Saskatchewan credit union staff topped out at over 75,000 hours out of a national total of 200,000 hours. Saskatchewan credit union volunteer hours increased by 16,000 hours over 2008.
  • 90 per cent of Saskatchewan credit unions offered scholarships and bursaries, the highest percentage of all provinces or regions.

Credit unions celebrate International Credit Union Day on October 21, 2010 as part of national Co-op Week, October 17-23, 2010.

There are 64 Saskatchewan credit unions who together serve 283 communities through 310 service outlets. Saskatchewan credit unions build lives and fulfill dreams by helping members achieve financial well-being and by investing in their communities.

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