The first credit union in Manitoba was organized in 1937 by a priest, Father Arthur Benoit, in the French farming community of St. Malo. Like most farmers at the time of the Great Depression, they were suffering. Father Benoit brought them together to help each other financially. The first loan financed the purchase of a cream separator.
People began founding credit unions in ever-increasing numbers across the province, and by 1939 there were 19 credit unions in Manitoba, with $49,990 and 2,406 total members.
Today, credit unions remain a secure alternative to the big banks. They continue to offer top quality products, competitive rates, and superior service, and the Seven International Co-operative Principles are still at the heart of everything credit unions do.
If you'd prefer to put your money to work in your community helping others, and share in all the benefits of belonging to a co-operative, discover a different way to bank at your local credit union.