Billion-dollar increases in both deposits and loans helpedCanada's credit unions end 2012 on a strong note.

According to the year-end System Results Report from Credit Union Central of Canada, central affiliated creditunions/caisses populaires across Canada ended fourth quarter 2012with $152.5 billion in assets, representing an 8.8% increase overthe $140.2 billion reported at year-end 2011.

An estimated 1.1% of this growth was attributed to twopreviously unaffiliated Ontario credit unions joining Central 1Credit Union in 2012, data compiled by Canadian Central showed.

System savings, deposits and loans also experienced positive growth over the previousquarter and continued the upward trend recorded at the beginning of2012, according to the system report.

Canadians had $134.6 billion on deposit with central affiliatedcredit unions and caisses populaires, representing an increase of$11.1 billion or 9% over fourth quarter 2011.

Lending activity recorded an $11.3 billion or 9.8% annual gain,ending fourth quarter with $127 billion in loans.

Meanwhile, consolidation continued in the system as the numbers of creditunions reduced to 348 from 365 a year earlier, according toCanadian Central. A total of 1,762 locations were reported by theCanadian credit union system and over 5.3 million Canadians aremembers of an affiliated credit union or caisse populaire as ofyear-end 2012.

Credit Union Central of Canada is the national trade associationfor the Canadian credit union system representing fiveprovincial/regional centrals and one federation representing 348credit unions with more than $152.5 billion in assets and servingover 5.3 million members.