What is a CREDIT UNION?

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The GRANDVIEW Credit Union Ltd. is a co-operative and as such is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise.

The Grandview Credit Union Ltd. abides to the SEVEN International CO-OPERATIVE Principles

* Voluntary and Open Membership:

The Grandview credit Union is open to all persons able to use our services and willing to accept the responsibility of membership, without gender, social, racial, political or religious discrimination

* Democratic Member Control:

The Grandview credit Union is a democratic organization controlled by its members, who actively participate in setting policies and making decisions. Men and women serving as elected representatives are accountable to the membership. Members have equal right, one membership, one vote.

* Member Economic Participation:

Members of the Grandview credit Union Ltd. contribute equally to and democratically control the capital of the credit union. Members usually receive compensation on capital subscribed as a condition of membership. Members allocate surpluses for any or all of the following purposes: developing the credit union, possibly by setting up reserves, part of which at least would be indivisible; benefiting members in proportion to their transactions with the credit Union and supporting other activities approved by the membership.

* Autonomy and Independence:

The Credit Union is autonomous, self-help organization controlled by its members.

* Education, Training and Information:

The credit union provides education and training for its members, elected representatives, manager and employees so they can contribute effectively to its development. They inform the general public-

particularly young people and opinion leaders- about the nature and benefits of the co-operative.

* Co-operation among co-operatives:

Credit Unions serve their members most effectively and strengthens the credit union movement by working together through local, national, regional and international structures.

* Concern for Community:

While focusing on members’ needs, credit unions work for the sustainable development of their communities through policies accepted by their members.

GRANDVIEW CREDIT UNION LTD VALUES

As a co-operative, the Grandview Credit Union Ltd. is based on the values of:

• SELF-HELP
• SELF-RESPONSIBILITY
• DEMOCRATY
• EQUALITY
• EQUITY & SOLIDARITY
• HONESTY
• OPENNESS
• SOCIAL RESPONSIBILITY
• CARING FOR OTHERS

WE ARE HERE TO STAY

The Grandview Credit Union Ltd. is here to stay:

Credit unions in Manitoba were founded and built by people who used them. They've continued to grow because more and more people all the time are becoming members.

As long as Manitobans want credit unions, credit unions are here to stay.

Today, there are 54 credit unions in the province extending services to over a half-million Manitobans through a multitude of branch locations and an ever-increasing number of ATMs. The combined assets of the Manitoba credit union system have surpassed $12 billion.

And because each credit union is governed by a local board of directors - decisions are made right in the communities they serve - not by a head office in Toronto.

CREDIT UNION FACTS:

• 181 credit unions in Manitoba. Twice as many as other financial institutions in the province
• In 65 rural communities the credit Union is the only financial services provider.
• Manitoba Credit Unions employ more than $2,700 people
• Credit unions donated more than $2.1 million in 2006 to community groups and organizations dear to the hearts of their members.
• Credit unions also awarded more than $116,000 in scholarships and bursaries to Manitoba students in 2006.
• Manitoba credit unions are the number one lender to small- and medium-sized business in Manitoba - and, when asked, SME owners are most satisfied with credit unions.
• Manitoba credit unions returned more than $20 million to members - in the form of patronage refunds, share dividends or cash - for doing business with credit unions in 2006.

Manitoba Credit Unions at a Glance
Updated July 12, 2007

WHY BECOME A MEMBER

• Credit unions are driven by both economic and social concerns:They are community-based organizations that care not only about the bottom line of their businesses, but also the needs of their members and the quality of life in their communities.

• Credit unions have members, not customers: Each person who deposits money in a credit union becomes an owner. Banks have customers who have no voice in how the bank is operated. They are owned by investors who expect a certain return on their investments. Credit union members share directly in the profits, through patronage refunds or lower service charges.

• Credit unions are democratically controlled: They are run by a volunteer board of directors elected by and from the membership. Each member has one vote. Bank customers don't have voting rights, can't be elected to the board, and have no control over what the bank does.

• Credit unions are not-for-profit businesses: This doesn't mean that they aren't profitable. After expenses are paid and reserves set aside, surplus earnings are returned to members in the forms of higher dividends, lower loan rates and free or low-cost services. Only banks' investors get to share in their profits.

• It Pays to Become a Member: Many credit unions return a percentage of their profits to their members. And the more business you conduct at your credit union - the larger your reward. Manitoba credit unions returned more than $20 million to members - in the form of patronage refunds, share dividends or cash - for doing business with credit unions in 2006.

Deposits are 100% GUARANTEED

Credit unions, like other financial institutions, are closely regulated. The Credit Union Deposit Guarantee Corporation, administered by the Government of Manitoba, fully insures deposits of all credit union members.

For a complete list of available services, email, phone or visit your local credit union.