Industry Analysis & Industry Trends
Despite financial uncertainty and a tighter lending environment, credit unions have managed to achieve moderate growth over the past five years. Nevertheless, rising external competition is leading credit unions to consolidate, which has enabled them to reduce labour costs and take advantage of new technologies. During the next five years, consolidation will continue to help credit unions achieve economies of scale and increase their asset base. With increased size, they will be able to compete better on fee pricing and interest spreads... purchase to read more
Industry Report - Industry Locations Chapter
The location of credit union establishments (i.e. branches) is largely dependent on population trends, with the highest percentage of establishments located in Quebec and Ontario at 35.2% and 19.3%, respectively in 2014. With a population of more than 34 million dispersed over a large geographic area, the majority of the population tends to live in the southern part of the country, which is also the home to 17 of Canada's largest cities. For example, about 62.0% of the population lives in Quebec and Ontario, hence the region controls more than 54.0% of establishments.
British Columbia, Yukon, the Northwest Territories and Nunavut represent 13.8% of establishments combined... purchase to read more