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The Origins of Sunrise Credit Union

The first credit union in Manitoba was organized in 1937 by Father Benoit in the French farming community of St. Malo. Its citizens, like most farmers on the continent, were suffering during the Great Depression; Father Benoit brought them together to help each other financially. The first loan to a member – for $56.50, repaid in $2 monthly installments – financed the purchase of a cream separator.

Seven months later in the same year, Norwood Credit Union was founded in Winnipeg.

Following their example, people throughout Manitoba, drawn together through common ethnic, religious, professional or geographical affiliations, began founding credit unions in ever-increasing numbers. By 1939 there were 19 credit unions in Manitoba, with combined assets of $49,990 and 2,406 members.

From these humble beginnings, Manitoba credit unions evolved over the years into modern, extremely competitive, successful financial institutions with a collective size of over $20 billion in assets, more than 190 branches and 3,500+ employees.

While Sunrise Credit Union as an entity was officially formed on October 1st, 2008, it did so through the strategic merger of its five legacy Credit Unions – respectively, Virden (est. 1940), Turtle Mountain (est. 1940), Hartney (est. 1942), Tiger Hills (est. 1943) and Cypress River (est. 1960).

Since then, both Sandy Lake (est. 1952) and Grandview (est. 1947) Credit Unions have joined the fold.

Integrity, Honesty, a Cooperative Philosophy, Respect, Fairness, Empathy, Trust, Loyalty, Courage and Optimism are the core values that have guided the success of Sunrise Credit Union for more than 75 years. These values, combined with sound business management have resulted in the growth of our organization from one branch to fourteen, with over 150 employees and over $896 million in assets by the end of 2016.

Following is a timeline highlighting special events and milestones throughout the history of Sunrise Credit Union.

1940       Virden Credit Union was incorporated

1941       Wassewa Credit Union was incorporated, later changing its name to Boissevain Credit Union Society Ltd.

1942       Deleau Credit Union Society was formed, later changing its name to Hartney Credit Union Society Ltd.

1943       Treherne & District Credit Union incorporated, later changing its name to Tiger Hills Credit Union

1947       Grandview Credit Union was incorporated

1952       Sandy Lake Credit Union was incorporated

1954       Deloraine Credit Union was incorporated

1960       Cypress River Credit Union was incorporated

1966       Melita Credit Union was incorporated

1971       Melita Credit Union merged with Virden Credit Union

1974       Tiger Hills Credit Union opened a branch in Holland, MB

1977       Virden Credit Union opened a branch in Reston, MB

1987       Boissevain Credit Union Society opened a branch in Minto, MB

1993       Virden Credit Union opened a branch in Waskada, MB

1998       Cypress River Credit Union opened a branch in Baldur, MB

2001       Deloraine, Boissevain and Minto merged to become Turtle Mountain Credit Union

2008       Virden, Turtle Mountain, Hartney, Tiger Hills and Cypress River Credit Unions merge to form Sunrise Credit Union

2008       $475 million in assets

2010       Sunrise Credit Union opened a branch in Brandon, MB

2013       5th Year Anniversary - $775.8 million in Assets

2014       Sandy Lake Credit Union merges with Sunrise Credit Union

2014       $821.8 million in assets

2015       Grand opening of new Corporate Office & Brandon branch

2017       Grandview Credit Union merges with Sunrise Credit Union