March 24, 2016
Calgary, AB – Connect First Credit Union combined with its legacy credit unions First Calgary Financial and Chinook Financial income before taxes reached $4.9 million during the first three months of the fiscal 2016.
Total assets decreased by $61 million through the first three months to $4.1 billion. Total loans fell by $22.0 million through the first three months to $3.5 billion as of January 31, 2016. Member deposits decreased by $82.0 million to $3.7 billion. Connect First Credit Union’s book of business managed on behalf of its 100,000 members was down approximately 1.5% from year end to $8.3 billion on January 31, 2016.
“Times are tough in southern Alberta”, said Connect First Credit Union’s CEO, Paul Kelly. “I’m proud of the honest conversations our employees are having with our members in boardrooms, around kitchen tables, and farm fields, to help make money make a difference.”
Connect First Credit Union offers its members a full range of financial products and services and the branch network of a large financial institution, while retaining its trusted local brands and continuing its community-focused approach to banking. Connect First Credit Union is Canada’s ninth largest credit union, with over $5 billion in assets under administration. It serves 100,000 members through 27 branches in 13 communities across southern Alberta, under the Chinook Financial and First Calgary Financial brands. For more information visit ConnectFirstCU.com.
Alison Archambault - Director, Brand & Stakeholder Engagement Connect First Credit Union
Phone: (403) 736-4015 Cell: (403) 473-3676