Steinbach Credit Union (SCU) announced that it recently surpassed $5 billion in assets, making SCU the first credit union in the province to reach this milestone.
SCU hit this target by the end of 2016, a fitting way to conclude the credit union’s 75th year in operations. It is now the seventh largest credit union in Canada by assets.
“Five billion is a number that reflects the trust Manitobans have in us. That bond is incredibly important and defines our commitment to our members,” said Glenn Friesen, CEO of Steinbach Credit Union. “Our growth has been organic, cultivated right here in Manitoba. We understand the power of working with our members and thank them for entrusting us with their business. Our philosophy as a credit union has been to grow one member, one service, one product at a time.”
SCU was founded in 1941 with a strong vision of serving the needs of its members, supporting local businesses, and growing the community. This simple dedication to member service has allowed SCU to grow organically and build a strong and stable foundation for the future.
“It took us 60 years to get to $1 billion, and only another 15 to reach $5 billion,” said Reg Penner, Chairman of SCU’s Board of Directors. “That is certainly a testament to the hard work, commitment, and shared vision of the organization and its membership.”
To celebrate this milestone, SCU is giving away 12 $500 one-year term deposits to members between March 1 and 4. To enter, members need to complete an entry ballot at any of SCU’s branches.
SCU offers a full scope of banking services from daily chequing and savings accounts to mortgages, investments, agricultural and commercial loans. It operates three branches (one in Steinbach and two in Winnipeg), and serves over 86,000 members and 413 employees.
