What Makes Us Great




Vision Statement

To be the financial provider of choice.

Mission Statement

Partnering with members to enhance their lives and our communities.

Core Values

Members enjoy distinct advantages, which also represent our core values:

  • Ensuring ultimate ownership and control of Lakeland Credit Union rests with our member owners
  • Delivering services that fulfill real needs, provide superior value and contribute to the economic well-being of our members
  • Ensuring the future strength and economic viability of our Credit Union by managing its affairs with members always in mind
  • Building capital reserves by allotting surplus earnings: first to general reserves/retained earnings and second, to profit-driven dividends
  • Encouraging thrift, self help, free enterprise, financial planning and the wise use of credit. Providing guidance to assist our members in making well-informed decisions when managing their financial affairs

The Ownership Advantage

Common Shares – Building Equity in Your Credit Union

As a member of Lakeland Credit Union, you participate in the equity program by simply purchasing common shares, which entitle you to use our services and grant you voting privileges.  Common shares make you an owner of Lakeland Credit Union, along with the other members. This gives you the opportunity to share in the accumulated reserves and prosperity.

Credit unions are required by law to maintain a reserve fund.  Common shares help make up that fund and ensure we have a strong and stable base from which to operate.

Common share funds are owned by our individual members, who also receive an annual report. The Board of Directors retains control of the common share funds and determines the dividend and account bonuses to be paid after each financial year-end.

Common share funds are guaranteed by Lakeland Credit Union to the extent of our own reserves.  They are not guaranteed by the Credit Union Deposit Guarantee Corporation.

Total Deposit Protection

The Credit Union Deposit Guarantee Corporation guarantees repayment of all deposits with Alberta credit unions, including accrued interest.  The Credit Union Act also specifies that the Government of Alberta will ensure this obligation of the Corporation is carried out.

Please contact us if you have any questions or want to become a member.

 

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Deposit Guarantee

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