Firsts & Quick Facts

Firsts

What many now take for granted, credit unions invented. We are the innovators in Canadian financial services. And if you look closely, most of our firsts are focused on making financial services better, more convenient and more flexible for our members.

• First loans based on borrower character.
• First payroll deduction service for deposits and loan payments.
• First open mortgages.
• First financial institutions to lend to women in their own names (in the 1960s if you can believe that).
• First to offer daily interest savings.
• First full-service ATM network.
• First home equity lines of credit.
• First debit card service.
• First registered education plans.
• First fully functional internet banking.
• First branchless bank (Citizens Bank).
• First cheque imaging service.

Quick Facts

Now that you know how often credit unions put their members' needs first, learn a little more about the credit unions that put all Canadians first.

There are 419 credit unions in Canada affiliated with Canadian Central
They have:

• 1,747 locations
• More than 5 million members
• $121.9 billion in assets
• $109 billion in deposits
• $99 billion in loans
• 25,000 employees
• Together they are the second largest lender to small businesses in Canada.

The first Canadian caisse populaire, or credit union was started in December, 1900 in Levis, Que. by Alphonse Desjardins.