credit union

Innovation Credit Union's main branch in Swift Current

Innovation Credit Union held its Annual General Meeting earlier this week, and they are calling 2011 a success.

"I think the strong economy in Saskatchewan has helped us grow as an organization," said Innovation CEO Daniel Johnson. "Strong growth in our loans, really strong growth on our deposits, and strong financial results really helped us have another successful year."

The recent amalgamation with Mankota Credit Union was also discussed during the meeting, and a recommendation was recently put to Eastend Credit Union members to amalgamate with innovation later this year. "We're growing organically with our existing members, but we're also finding that smaller credit unions in our region find our business model very appealing," Johnson added. "As they're struggling to find growth or keep costs at bay, joining with Innovation seems to be an option they put forward to their members."

Other highlights from 2011 included Darlene Kingwell and Gordon Lightfoot returning to the Innovation board via acclamation, and the announcement that a $930,000 patronage payment will be paid to Innovation members.

Shawn Mullin talked with Innovation Credit Union CEO Daniel Johnson: