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Our History
In 1940, Wasyl Topolnicky, the driving force behind the Ukrainian credit union movement in Canada and the free world, founded the Savings-Credit Union “Karpatiia” (Carpathia) in Winnipeg, Manitoba. There were 24 founding members, paying $0.25 for each membership. Carpathia began its activities at the facilities of the book cooperative “Kalyna”, on the corner of Main Street and Euclid Avenue. The sidewalk outside the doors was the meeting place for Ukrainians. People came to bank at Carpathia and shop at Kalyna. Many Ukrainian families bought their refrigerators, stoves and radios from Kalyna and then received financing on the spot, through Carpathia.
In June 1941, Carpathia Credit Union granted its first donation, in the amount of $5 towards the summer courses organized by Olexander Koshetz and Paul Macenko. Over the years, Carpathia Credit Union has continued its strong financial support of the Ukrainian community. Carpathia has helped build several Ukrainian churches, seniors complexes, community halls, as well as summer camps. Carpathia has consistently contributed to the development of the cultural and religious life of Winnipeg’s Ukrainian community.
On its 10th anniversary, Carpathia had grown to 1,046 members and assets of $239,996. By its 15th anniversary, Carpathia had 1,246 members, and assets of a half million dollars. During the 1950s, a quarterly newsletter entitled “Samodopomoha” (Self-Help) was developed to spread the credit union message. It covered the activites of Carpathia and included various cooperative, economic and financial information.
On the threshold of its 25th anniversary in 1965, Carpathia’s assets reached $3,000,000, with a membership of 2,627. During its existence, loans to members totaled $9,214,000. These figures demonstrate Carpathia’s positive reputation and the confidence of its members. It worked not for its own enrichment, but in the name of the economic, spiritual and cultural growth of its membership. At the Silver Jubilee celebrations, Carpathia’s Manager, John Skwarchuk noted "Carpathia has helped thousands of Ukrainians and has continuosly tried to contribute to the development of the Winnipeg’s Ukrainian community".
During the 1960s Carpathia’s growth continued. In 1968 its assets passed $5,000,000, and the membership rose to 3,544. In November of 1969, Carpathia officially opened its office at 864 Main Street.
The annual general meetings continued to be forums for open, creative exchanges. The chairman of the Annual General Meeting in 1969 was Stephania Bubniuk, the first woman in this position, and she stated, “Carpathia has grown because of the conscientious and wise leadership of its founders and successors. Leadership experience gained over many years is needed; as well as unblemished honesty in dealing with community affairs, and patriotic dedication. To care not for one’s own interests or the interests of one’s group, but for the general, common good. Carpathia has followed and continues to follow these principles.”
In May of 1976, the doors to the new Carpathia Credit Union building, at 950 Main Street were opened. This building became the pride of not only the members, but the whole Ukrainian community of Winnipeg. It was equipped with the most modern banking facilities, which made possible an even more effective service for members. During this time, in place of "Samodopomoha", a bilingual "Visti Karpatii" - "News from Carpathia" which regularly informed the membership of Carpathia's activities began publication.
During the 1980s it was obvious that Carpathia was on a firm path. With a solid financial base, the decade was one of achievement, stability and growth. In 1981, the McPhillips branch was opened to better serve the needs of the large concentration of members in the area and by decision of its members, the Dnipro Credit Union was amalgamated with Carpathia. By 1989, the assets of Carpathia reached a record high of $72,916,000 and membership was 8,600. To ensure a high quality of service to the ever increasing membership, in 1989 Carpathia renovated the first floor and built a third floor onto the 950 Main Street.
The 1990s continued to be strong and successful times for Carpathia Credit Union. In the fall of 1990, Carpathia celebrated its 50th anniversary with assets $86,014,000 and membership in excess of 8,200. A commemorative bilingual book, documenting the history and accomplishments of the credit union, entitled "Carpathia - 50 years of service to the Ukrainian Community" was launched during the celebrations. In 1994, Carpathia’s financial success included asset growth to over the $100 million plateau and the opening of a third branch. Located at the corner of Henderson Highway and Springfield Road, this branch makes Carpathia more convenient to the ever increasing number of both current and potential members who told us that we needed to be closer to them.
Currently, Carpathia Credit Union’s assets exceed $319 million and we have over 12,400 members. Carpathia continues its support of the many cultural, religious, educational and athletic organizations in our Ukrainian community. To date, significant funds have been contributed by Carpathia to support these organizations that are so vital to the quality of life in Manitoba. “People Helping People”, it’s what makes our Ukrainian community strong and secure!
