Canadian Credit Union Association

a small rural population who were in danger of losing their property and were being evicted from their farms. For thirty years, he taught community members financial knowledge including how to invest and open savings and showed them how to operate the institution. Regarded as Champion of the People, Father Belcourt inspired the formation of the credit union movement. Building off the example set by the Farmers’ Bank, Alphonse Desjardins introduced the first caisse populaire in Quebec in 1900 to offer affordable credit to working-class families. This foundational spirit of community aid has carried through to today, driving credit unions to continually invest in local initiatives that benefit members, employees, and the broader community. Since then, credit unions have been a steady source of support for their members and communities. “The essence of the credit union movement is rooted in community, cooperation and conscientious banking,” explains Jeff Guthrie, President and CEO of the Canadian Credit Union Association (CCUA), a national trade association for Canada’s credit unions and caisses populaires outside Quebec. THE CREDIT UNION ETHOS After founding the first caisse populaire in Quebec, Alphonse Desjardins rapidly expanded the network, establishing 148 caisses populaires across Ontario and Quebec within 14 years. Today, Canada’s 197 credit unions serve over 10 million members nationwide, firmly establishing themselves as trusted financial institutions. Credit unions are committed to the seven cooperative principles, central to which is a profound concern for community welfare. Their success is measured not by profit alone but by the tangible benefits they deliver to the communities they serve. Through various social and economic initiatives, credit unions significantly impact their members, communities, and employees, consistently prioritizing community welfare in their operations. A STRONG COMMUNITY PRESENCE Driving down a rural, northern Canadian town, one 3 CIVIL AND MUNICIPAL VOLUME 05, ISSUE 07 CANADIAN CREDI T UNION ASSOCIAT ION