CALGARY, Alberta, Canada - The Alberta Credit Union System's six month results for the period ended April 30 showed the system reached new milestones in assets and net income. Canadian newswire reports indicated there was a 12% increase in assets compared to the same period last year and a 6% increase in the first half of this year. In addition net income before taxes and dividends were $27.3 million compared to $24.9 million for the same period last year, an increase of 10%. The Alberta Credit Union System also set a record $27 million in earnings that were returned to credit union members in the form of common share dividends and patronage rebates last year. With the recent acquisition of 17 Bank of Montral branches in rural Alberta, the number of communities in Alberta being served by credit unions has increased over the past six months. The Alberta Credit Union System, which is made up of 78 locally-owned and operated credit unions serving over 500,000 residents of Alberta, now has a presence in 117 communities throughout the province.
Alberta Credit Union System sets milestones
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