Lakeland Credit Union is a member-owned financial institution based in Bonnyville, Alberta, Canada that serves the Lakeland area of northeastern Alberta. The organization is the result of the merger of three open bond credit unions, the first of which was established in 1940.[1]
With approximately $610 million CAD (October 2013) in assets and over 12,000 members (2013), Lakeland Credit Union ranks as the 6th largest credit union by asset size in Alberta, and the 50th largest in Canada. Approximately 86 staff serve members at two retail branches (one in Bonnyville, and one in Cold Lake).[2]
Lakeland Credit Union’s primary lines of business include retail and business banking (deposit-taking and lending) and mortgage lending. Through its wholly owned subsidiaries, LCU also offers insurance services, investment and financial planning services, MasterCard credit cards, and foreign exchange services.
Membership
Lakeland Credit Union is a registered member of the Credit Union Deposit Guarantee Corporation(CUDGC), which insures 100% of deposits at all of Alberta's credit unions and acts as their regulator. LCU is also a member of Credit Union Central of Alberta and Credit Union Central of Canada.
Recent Developments
In 2013 Lakeland Credit Union was named a finalist in the category of Volunteerism and Community Involvement of Alberta Venture’s “Alberta’s Best Work Places” competition. [3]
In 2012 Lakeland Credit Union won the Community Involvement Award at the Bonnyville District Chamber of Commerce Business of the Year Awards.