Abdullah Mamun Professor, Edwards School of Business Fellow in Credit Union Finance, Canadian Centre for the Study of Co-operatives August 2024 usaskstudies.coop MERGERS ARE THE BEST HOPE FOR CANADIAN CREDIT UNIONS FACING STAGNATING GROWTH: STUDY CANADIAN CENTRE FOR THE STUDY OF CO-OPERATIVES MERGERS ARE THE BEST HOPE FOR CANADIAN CREDIT UNIONS FACING STAGNATING GROWTH: STUDY Why have so many of C. [...] The study, by Professor Abdullah Mamun, a Canadian Centre for the Study of Co-operatives research fellow who teaches in the University of Saskatchewan Edwards School of Business, was recently published in the International Review of Economics and Finance. [...] Drawing on data from private sources and regulators’ websites, In the first full year after the merger took place, the merged credit Abdullah’s study paints a somewhat worrying picture of Canada’s unions grew a cumulative 12.7% versus 7.8% for the matched current credit union sector, showing that growth, which was 6.9% credit unions that did not merge. [...] As for the prospect of national credit unions (three have 4.7 million more served by the Quebec-based Desjardins group, been approved since federal charters came into being in 2012, and Canada has the highest per capita credit union membership in the more are in the works), Abdullah argues that federal status can world. [...] Considering that, as of 2019, the top 100 credit unions controlled 93% of the sector’s assets For the rest of Canada’s credit unions, too small or regional to outside Quebec, credit unions might soon begin to look more like justify a federal charter, the author recommends that regulators Canadian banks, whose sector is defined by its handful of players.
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