The 2002 Credit Union Community Involvement Survey Conducted For Credit Union Central of Canada

Vancouver, BC - Ipsos-Reid conducted the 2002 National Community Involvement survey for Credit Union Central of Canada in the spring of 2003. A total of 323 credit unions completed the survey, which was conducted with a combination online and self-complete mail methodology. Marketing Managers, General Managers or CEOs of the 590 credit unions across the provinces of Newfoundland, PEI, Nova Scotia, New Brunswick, Ontario, Manitoba, Saskatchewan, Alberta and British Columbia were sent the survey on March 31st, and had until June 16th, 2003 to complete it. Of the total 323 completed surveys, 236 were completed online and 87 were paper copy completes. This results in an overall response rate of 54%.

The results that follow are based only on the 323 credit unions who completed the survey. No adjustments have been made to project these results to the total population of 590 credit unions. Following is a description of the key findings of this study:

NATIONAL RESULTS

It is important to note that higher response rates resulted in higher aggregate totals compared to the previous year. In the current study, a total of 323 credit unions from nine provinces responded. In the 2001 study, 264 credit unions from seven provinces responded and aggregate data from another two provinces was included in the total result.

• BC 2002: 56 completes (2001: 59 completes)
• Alberta 2002: 32 completes (2001: n/a)
• Manitoba 2002: 36 completes (2001: n/a)
• Saskatchewan 2002: 74 completes (2001: 84 completes)
• Ontario 2002: 96 completes (2001: 80 completes)
• Atlantic 2002: 29 completes (2001: 40 completes)

In 2002, credit unions participating in the survey contributed $20.7 million in donations, sponsorships and economic development (2001 - $16.7 million).

Following is a summary of contributions in Donations, Sponsorships and Economic Development among participating provinces.

• BC 2002: $10.9 million (2001: $8.1 million)
• Alberta 2002: $1.8 million (2001: n/a)
• Manitoba 2002: $1.4 million (2001: n/a)
• Saskatchewan 2002: $2.5 million (2001: $2.4 million)
• Ontario 2002: $2.5 million (2001: $2.1 million)
• Atlantic 2002: $586 thousand (2001: $805 thousand)

a) Donations and Sponsorships

The total amount of donations and sponsorships made by responding credit unions equalled $13.7 million in 2002 (2001 - $11.7 million).

In terms of specific sectors, "other" causes received the greatest amount of monetary support at $1.3 million, followed by health care causes at $1.1 million and sports teams/associations at $740,000. Arts and culture reported at $603,000 and economic development at $550,000.

• British Columbia reported the highest monetary support in 2002 for donations and sponsorships ($7.4 million).
• Alberta provided $1.4 million in donations and sponsorships in 2002.
• Manitoba provided $955 K in donations and sponsorships in 2002.
• Saskatchewan provided $1.9 million in donations and sponsorships in 2002.
• Ontario provided $1.6 million in donations and sponsorships in 2002.
• Atlantic provided $480 K in donations and sponsorships in 2002.

b) Contributions to Charitable Foundations

The total amount of money contributed to credit union charitable foundations by Canadian credit union respondents was $2.8 million in 2002 (2001 - $2.1 million).

Within the 2002 fiscal year, $1.4 million of the total amounts donated to these foundations were disbursed to charities and charitable initiatives.

• BC 2002: $2.5 million (2001: $1.8 million)
• Alberta 2002: $5K (2001: n/a)
• Manitoba 2002: n/a
• Saskatchewan 2002: $20K (2001: n/a)
• Ontario 2002: $220K (2001: $295K)
• Atlantic 2002: $15K (2001: n/a)

c) Scholarships and Bursaries

In 2002, 69% of the Canadian credit unions participating in the study reported giving scholarships or bursaries. In total, the study showed that credit union respondents contributed a total of $846,000 to 1,400 scholarships and bursaries.

In terms of individual provinces:

• BC: A total of $434K was given in scholarships and bursaries in 2002.
• Alberta: $81K was given in scholarships and bursaries in 2002.
• Manitoba: $53K was given in scholarships and bursaries in 2002.
• Saskatchewan: $87K was given in scholarships and bursaries in 2002.
• Ontario: $126K was given in scholarships and bursaries in 2002.
• Atlantic: $66K was given in scholarships and bursaries in 2002.

d) Charitable Fundraising

Fifty-nine per cent of the credit union respondents said they administered fundraising campaigns for community organizations.

The total corporate amount contributed by credit union respondents was $555,000, while the total staff amount contributed was reported to be $774,000.

The total amount raised by credit union respondents for charitable fundraising was $1.3 million; when member and public contributions are added, the total figure is $2.3 million (2001 - $1.9 million).

The following reports the total raised for charitable fundraising (which may include member/public donations) for the individual provinces in 2002.

• BC: $638K
• Alberta: $245K
• Manitoba: $218K
• Saskatchewan: $609K
• Ontario: $365K
• Atlantic: $230K

e) Community Economic Development

Community economic development contributions by credit unions in the study reached $3.4 million in 2002 (2001 - $2.1 million).

The largest dollar figure for community economic development contributions was for service charges waived on community organizations' interest bearing accounts ($1.7 million), followed by bonus interest on community organizations' term deposits ($1.2 million). In 2002, 129 credit union respondents waived the fees of 31,132 organizations and 42 credit unions gave bonus interest to a total of 1,711 organizations.

The following reports the total community economic development for the provinces in 2002.

• BC: $555K (2001: $957K)
• Alberta: $256K (2001: n/a)
• Manitoba: $354K (2001:n/a)
• Saskatchewan: $575K (2001: $461K)
• Ontario: $619K ($398K)
• Atlantic: $25K ($121K)

f) Business Lending

Credit unions participating in the study indicated that a total of 34,305 loans were made to businesses within trade areas in 2002 (2001 - 21,231). The total value of these loans was $4.2 billion (2001 - $2.9 billion), with the average loan size being $123,000 (2001 - $136,000). The mean number of loans per credit union respondent made to businesses within the trade area was 135 (2001 - 125).

The following is a summary of business lending in the individual provinces in 2002.

• BC: 10,345 loans made, with a total value of $1.7 billion.
• Alberta: 6,698 loans made, with a total value of $547 million.
• Manitoba: 5,699 loans made, with a total value of $330 million.
• Saskatchewan: 3,225 loans made, with a total value of $545 million.
• Ontario: 7,496 loans made, with a total value of $1.0 billion.
• Atlantic: 842 loans made, with a total value of $75 million

g) Volunteerism by Credit Union Staff

Fifty percent of the credit union respondents reported that their employees participate in community activities and/or organizations as part of their paid work. The local chamber of commerce was mentioned most frequently, followed by local festivals/events and school sponsored activities.

Looking at the provinces specifically, 50% of BC, 47% of Alberta, 61% of Manitoba, 59% of Saskatchewan, 42% of Ontario and 38% of Atlantic employees participate in community activities and/or organizations as part of their paid work.

Seventy-three percent of credit unions surveyed reported that their employees volunteer for community activities/organizations representing the credit union during their unpaid time off. Local festivals/events and sporting events were mentioned most frequently.

Seventy-seven percent of BC, 78% of Alberta, 83% of Manitoba, 86% of Saskatchewan, 56% of Ontario and 69% of Atlantic employees participate in community activities and/or organisations representing the credit union during their unpaid time off.

h) Environmental Responsibility

Specific environmental goals have been adopted by many credit unions participating in the survey. The most common goal is waste reduction, adopted by 86% of responding credit unions, followed by promotion of sustainable use of natural resources (53%) and conserving energy (52%).

Across all participating provinces, the top three most adopted environmental goals are reducing waste, promoting sustainable use of natural resources and conserving energy.

For more information on this news release, please contact:

Steve Mossop
Senior Vice President
Ipsos Reid
(604) 257-3200
[email protected]