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About Us

The Overview

Carpathia Credit Union is a full service financial institution that is owned by its members, who work and play right here in Manitoba.

We have a membership of over 10,000 and have reached almost $650 million in assets.

Each year Carpathia provides more than $75,000 to community groups and events. We continue to offer support programs, scholarships and donations towards promoting Ukrainian culture and heritage locally and to create a stronger sense of community.

Vision Statement

To be a financial institution of excellence supporting our Ukrainian and extended community.

Mission Statement

To ensure financial sustainability by providing responsive and relevant financial services for the communities we serve and by building prosperous and lasting relationships with our members, partners, and staff.

Our History

The Short Version Expand/Collapse

In 1940, we were founded as the Savings-Credit Union “Karpatiia” (Carpathia) in Winnipeg, Manitoba.

Our expanding network includes five branches, a Commercial Centre, and a Corporate Office to serve our growing membership.

The Long Version Expand/Collapse

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 who each paid $0.25 for a membership. Carpathia began serving members in the facilities of the book cooperative “Kalyna”, on the corner of Main Street and Euclid Avenue. People came to bank at Carpathia and shop at Kalyna. Many Ukrainian families bought their refrigerators, stoves and radios from Kalyna and 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 has continued its strong financial support of the Ukrainian community. The Credit Union has help build several Ukrainian churches, seniors’ complexes, community halls, as well as supported summer camps. Carpathia has consistently contributed to the development of the cultural and religious life of Winnipeg’s Ukrainian community.

By the 10th anniversary, Carpathia had grown to 1,046 members and assets of $239,996. By the 15th anniversary, the membership had grown to 1,246 and assets reached 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 activities of the Credit Union and included cooperative, economic and financial information.

On the threshold of its 25th anniversary in 1965, 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, the manager, John Skwarchuk noted "Carpathia has helped thousands of Ukrainians and has continuously tried to contribute to the development of the Winnipeg’s Ukrainian community".

During the 1960s growth continued. By 1968 assets passed $5,000,000 and the membership rose to 3,544. In November  1969, Carpathia officially opened its office at 864 Main Street.

The annual general meetings continued to be forums for open, creative exchanges. The Chair 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 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. By decision of its members the Dnipro Credit Union was amalgamated with Carpathia. By 1989, Carpathia assets 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, the Credit Union renovated the first floor and added a third floor onto 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 made the Credit Union more convenient to the ever increasing number of both current and potential members who told us that we needed to be closer to them.

In February of 2013, Carpathia opened its fourth branch on the corner of Grant Avenue and Waverley Street in Winnipeg's south quadrant; the first location south of Portage Avenue. The prominence of the new modern branch, featuring etched glass walls, appeals to the communities surrounding and caters to those who asked for representation where they reside.

The fifth location, on Regent Avenue, was opened during the summer of 2016 and proudly serves the growing residential area of Transcona.

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!

Why Should You Choose Us?

And then some. Expand/Collapse

At Carpathia Credit Union, we:

  • Are committed to reaching our fullest potential in service, product development and technical advancements;
  • Provide ongoing support to Manitoba's Ukrainian community events and programs;
  • Make every effort to support our community vendors; and
  • Are welcoming to new Canadians from all backgrounds and have experience helping them reach milestones, like building credit and purchasing homes.

We are a part of the Credit Union Difference

Our members are our owners, not just our customers.

Why does this matter to you?

  • You can vote on the issues that are important to you;
  • We put you before profits by tailoring our services to meet your needs and giving back locally;
  • You are equal to all other members, no matter how much or how little you have in your account; and
  • Our Board of Directors are democratically elected members of our community who understand what's important to our membership and keep our decisions based on local realities.
Meet our Board of Directors