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Annual Reports




Empowering and Contributing to the Local Community

As a financial cooperative, our members are the owners and decision-makers, which sets us apart from most other financial institutions and inspires our growth.

2023 Annual Report


Khalsa Credit Union maintained financial stability, meeting member needs reliably in 2023. We advanced our  strategic plan by implementing modern systems, enhancing operational efficiency and member experience. Achievements include substantial asset growth, a record net income of $9.4 million, and increased deposit balances by $57 million, reflecting a commitment to member prosperity through competitive rates and expanded services.

  • Assets grew by 65 million year-over-year
  • Income grew to 9.5 Million
  • Deposit grew by 57 million
2022 Annual Report


Khalsa Credit Union continues to focus on improving members financial wellbeing. We were able to help several first-time home buyers,business owners, families and retirees.

  • Assets were at $680M+
  • Retained earnings climbed to $45.72M
  • Loans to members grew to $569M+
2021 Annual Report

Our Community Continues To Grow

In our 2021 Strategic Plan, we focused on attracting and retaining a team of individuals who are engaged, highly accountable, and take a personal interest in their own professional development. Our team put members at the centre of every decision. We focused on deepening our understanding of family and business members while saving our members timeand money with each interaction. Understanding your journey helped us to develop more convenient solutions for everyone. By putting our members first, this enabled Khalsa Credit Union to thrive financially.

  • Assets reached $683M+
  • Retained earnings climbed to $40.67M
  • Loans to members grew to $535M+
2020 Annual Report

A Year Like No Other

2020 was a year like no other; a sentiment heard throughout this credit union and echoed around the world. KCU was certainly not immune to the ramifications of COVID-19 as we made difficult decisions regarding social distancing, protective barriers, sanitizing our branches, and closing our Head Office. While our executive management and support staff worked remotely, we carried out the long overdue remodelling and complete renovation of our third-floor premises,refreshing it with an attractive new décor and much brighter appearance.

  • Assets reached $595M+
  • Retained earnings climbed to $37.1M
  • Loans to members grew to $450M+
2019 Annual Report

Tomorrow and Beyond

Our 33rd year posted strong operating results. Overall, 2019 was a year of high growth, low delinquency rates, curtailed expenditures, exceptional efficiency and, most importantly, prosperous members.

  • Assets reached $510M+
  • Retained earnings climbed to $34.1M
  • Loans to members grew nearly 10% to $430.9
2018 Annual Report

Change and Progress

Another good year, 2018 was full of change and progress with a net income over $4M and operating efficiency ratios among the best in the credit union system.

  • Assets reached nearly $465M
  • Retained earnings near $30M
  • Loans to members grew by nearly $32M
About Us

KCU in the Community

As a credit union based on the Sikh faith, we’re actively involved in ‘seva’ and giving back to communities in many ways throughout the year, including through food drives, blanket/clothing drives, volunteering, and more.


About Us

Our Board of Directors

Our Board of Directors shares the values of accountability, ethical behaviour, seva and giving back to the local community for today and future generations
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