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Profiles
Central Credit Union
Four Credit Unions amalgamated to form Central Credit Union Limited in 1969. St. Anthony’s, St. Mark\'s, United of Milo and O\'Leary Credit Union, all of which had been active for many years, became one Credit Union under provincial Credit Union Charter number 72.
After the amalgamation, Central Credit Union purchased an old store on Main Street and renovated it to suit our needs. Over the years, the Credit Union continued through expansion, renovation and construction of a new building, to provide professional services to its membership.
Today we serve over 4,500 Islanders from the communities of O\'Leary, Coleman, Elmsdale and surrounding areas. Central Credit Union in O’Leary is part of the PEI Credit Union system, which today serves more than 60,000 Islanders with a complete range of professional financial products and services.
Financial Statistics
Assets $39,868,103
% of PEI System 5.70%
Customer/Owners 4,600 (Approx.)
Consolidated Credit Union
Consolidated Credit Union, as the name suggests, is the result of the consolidation of a number of Credit Unions which operated in the Summerside area. These were: Miscouche, Community, Trinity, Abegweit, Kinkora, Richmond Bay, Grand River, St. Paul’s Bedeque, and Borden.
Incorporated in 1968, Consolidated Credit Union has continually grown to serve the financial aspects of their 9,400+ owners. From a very small office in the Holman Building to the spacious modern facilities that they have today, Consolidated Credit Union is at the heart of the Summerside Community.
The Credit Union is recognized for its dedication to community and to the support of all aspects of community building. The latest demonstration of community involvement and support is reflected in the relatively new community facility “Credit Union Place”. In its unique approach to owner service, Consolidated offer both a “live” person drive through transaction window in addition to the conventional drive-through ATM facility for which PEI Credit Unions are known.
In addition to its physical premises in Summerside, Consolidated also operates a branch location in Borden Carlton, complete with ATM services. Consolidated Credit Union is part of the PEI Credit Union System, which today serves more than 60,000 Islanders with a complete range of professional financial products and services.
Financial Statistics
Assets $128,201,657
% of PEI System 18.33%
Customer/Owners 9,500 (Approx.)
Evangeline Credit Union
Evangeline Credit Union Limited was established by uniting the Wellington-Richmond Credit Union, Credit Union l’Acadienne Ltd. in Mont Carmel, and Egmont Bay Credit Union. Evangeline Credit Union was incorporated on January 14th, 1970 and operates under Charter Number 73. In 1970 the Evangeline Credit Union began its operations with 1,225 members from the three parishes and assets of $417,800. Evangeline Credit Union established a branch office of the Credit Union in Tyne Valley to provide financial services for that community when the Royal Bank closed in 1996.
Today they serve over 5,720 Islanders from the communities of Wellington, Abrams Village, Mont Carmel, Richmond, Miscouche, St. Nicholas, Tyne Valley, Ellerslie, Lennox Island, Portage, and Coleman. They are pleased to offer full bilingual service to members at their Wellington office. Evangeline Credit Union in Wellington and Tyne Valley is part of the PEI Credit Union System, which today serves more than 60,000 Islanders with a complete range of professional financial products and services.
Financial Statistics
Assets $59,097,802
% of PEI System 8.45%
Customer/Owners 5,800 (Approx.)
Malpeque Bay Credit Union
Malpeque Bay Credit Union came into being on October 9th, 1982 as a result of the amalgamation between CFB Summerside Credit Union Limited and Kensington Credit Union Limited, and operates under Charter Number 40. The growth potential of the Kensington Credit Union and the resources of the CGB Summerside Credit Union provided an ideal opportunity to work together. The name Malpeque Bay Credit Union came about through a change in the name of Kensington Credit Union to better reflect the new service area after amalgamation. In 1982 a new building was constructed in Kensington and following the merger the Kensington Branch of Malpeque Bay Credit Union became a full time operation. In 1990 the Federal Government announced that CFB Summerside was on the list of military bases to be closed. With the closure of the CFB Summerside Branch the Credit Union expanded the Kensington facilities from 1500 sq ft to 3700 to service the total membership.
Today Malpeque Bay Credit Union serves more than 5,300 members from the areas of Kensington and surrounding areas. Malpeque Bay Credit Union in Kensington is part of the PEI Credit Union System, which today serves more than 60,000 Islanders with a complete range of professional financial products and services.
Financial Statistics
Assets $77,204,477
% of PEI System 11.04%
Customer/Owners 5,400 (Approx.)
Metro Credit Union
Metro Credit Union was incorporated on December 8th, 1968 and operates under Charter Number 70. Metro Credit Union was formed through a merger of three Credit Unions already in existence within the Charlottetown area. These Credit Unions were St. Dunstan’s and Charlottetown, which were originally organized during the 1930’s, and Capital Credit Union, which was formed in October of 1962. In addition, over the years a number of other Credit Unions joined with Metro. In November 1981, Metro Credit union relocated from Queen Street to 281 University Avenue in Charlottetown. This new, more visible location and facility have enabled Metro to grow and expand in the community. In 1995, Metro Credit Union opened Charlottetown’s first 24-hour drive-thru ATM. In response to the community, Metro opened a branch office in Stratford on August 13th, 2001.
Metro serves more than 15,000 Islanders from various communities in and around the Charlottetown area including: Charlottetown, West Royalty, Stratford, Sherwood, Scotchfort, Rocky Point, Brackley, Hillsborough Park, East Royalty, Cornwall, Winsloe, North River, Crossroads, Elliot River, Fort Augustus, and Pownal. Metro Credit Union is part of the PEI Credit Union System, which today serves more than 60,000 Islanders with a complete range of professional financial products and services.
Financial Statistics
Assets $160,278,488
% of PEI System 22.91%
Customer/Owners 15,100 (Approx.)
Montague Credit Union
Montague Credit Union was incorporated on February 25th, 1984 and operates under Charter Number 74. Montague Credit Union began as a result of the people of the community looking for Credit Union services in the area. Interest was initiated in response to the Bank of Montreal closure. This Credit Union began with member share deposits and now holds over $27 million in assets. In February of 1996, Montague Credit Union built and moved into modern premises from their previously rented facilities. Montague Credit Union had their grand opening for these new premises in June of 1996 and enjoys the distinction as the newest Credit Union to be formed on PEI.
Montague Credit Union serves 3,100 members from Montague, Cardigan, Georgetown, Murray Harbour, Murray River, Vernon River and surrounding areas. Montague Credit union is part of the PEI Credit Union System, which today serves more than 60,000 Islanders with a complete range of professional financial products and services.
Financial Statistics
Assets $32,731,226
% of PEI System 4.68%
Customer/Owners 3,100 (Approx.)
Morell Credit Union
Morell Credit Union was incorporated on January 27th, 1938 and operates under Charter Number 26. The Credit Union has operated as a single Credit Union until October of 1981 at which time it combined the assets of St. Peters Credit Union through a merger. In addition the Credit Union operates a branch office on a part time basis to service the Mount Stewart community.
The Credit Union serves over 2,040 members in the Morell, Mount Stewart, St. Peters, Fort Augustus, Tracadie and surrounding areas. Morell Credit Union is part of the PEI Credit Union System, which today serves more than 60,000 Islanders with a complete range of professional financial products and services.
Financial Statistics
Assets $25,229,436
% of PEI System 3.61%
Customer/Owners 2,100 (Approx.)
Souris Credit Union
Souris Credit Union was founded in 1954 with the consolidation of two Credit Unions, one in Souris and the other in Rollo Bay. Over time other Credit Unions in the area closed and their membership moved to Souris Credit Union. These were: Little Pond (1965), St. Margaret’s (1965) St. Mary’s (1951), Lot 47 (1965) and St. Charles (1965)
The original location for the Credit Union was located in the home of the treasurer until an office in the upstairs of the McQuaid Building was acquired. It was then moved to the ground floor of the McQuaid building and created a main street façade. The current premise was built in 1979 and has since undergone a major renovation into the Credit Union that is present today.
Souris Credit Union services owners from a large portion of the Eastern Kings area, including Cardigan and St. Peters, where the geographic lines merge with those of Morell Credit Union and Montague Credit Union. Today, Souris Credit Union manages assets in excess of $33 Million on behalf of over 3,290 Owners. Souris Credit Union is part of the PEI Credit Union System, which today serves more than 60,000 Islanders with a complete range of professional financial products and services.
Financial Statistics
Assets $33,584,667
% of PEI System 4.80%
Customer/Owners 3,300 (Approx.)
Stella Maris Credit Union
Chartered in May, 1937 Stella Maris Credit Union became one of the early Credit Unions to be formed on PEI under Charter number twenty. Stella Maris Credit Union has served the North and South Rustico and surrounding areas since its inception and is the only financial institution located in the area.
In 1981 the ”St. Augustine” Credit Union merged with Stella Maris Credit Union ensuring service to both the North and South Rustico Communities. The North and especially the South Rustico Credit Unions enjoy a rich tradition of co-operative and Credit Union history through the “People’s Bank of Rustico” and the leadership and initiatives of the renowned Father Belcourt.
The first Credit Union was located in the priest’s house and through the years has grown and has enjoyed premises in a number of locations including their move in 1973 to their present site. Like most Credit Unions, the Credit Union renovated and expended their premises to meet the increasing services to their owners. Today Stella Maris Credit Union serves in excess of 3,470 owners and has in excess of $46 million Assets under management. Stella Maris Credit Union is part of the PEI Credit Union System, which today serves more than 60,000 Islanders with a complete range of professional financial products and services.
Financial Statistics
Assets $46,535,048
% of PEI System 6.65%
Customer/Owners 3,500 (Approx.)
Tignish Credit Union
Tignish Credit Union was incorporated on April 22nd, 1937 and operates under Charter Number 15. Tignish Credit Union is the only financial institution located in and serving the residents of Tignish and surrounding areas. In January 2003 Tignish expanded its services to members with the opening of their first branch location in Alberton.
More than 9,300 Islanders from the communities of Tignish, St. Louis, Alberton, and Miminegash are served through the two branches. Tignish Credit Union is part of the PEI Credit Union System, which today serves more than 60,000 Islanders with a complete range of professional financial products and services.
Financial Statistics
Assets $96,727,651
% of PEI System 13.83%
Customer/Owners 9,400 (Approx.)
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