The Canadian credit union system got its start in the basement of the home of Alphonse Desjardins in Levis, Quebec in 1900. The first financial transaction, an entry for $.10, was processed on Jan 23, 1901. Credit unions were founded on the ideals of self-help, democratic control and volunteerism. Their credo called for putting members first, placing service above profit and on achieving excellence in a competitive market place while maintaining high standards and a unique focus.

As Canada grew and prospered, credit unions became an integral thread in the fabric of the economy, helping to build the country. Thousands of citizens have been able to purchase their homes and enjoy healthy lifestyles due to assistance from their local credit union. Worldwide, there are over 40,000 financial co-operatives in 85 nations while one in three Canadians belong to a credit union or caisse populaire. In British Columbia, a network of over 300 branches serves every region of the province and a credit union membership approaching 1.5 million.

From humble beginnings, credit unions (sometimes referred to as mutual self help societies) have evolved to become a major player in the financial affairs of the people of Canada.