UCU Members vote at the Annual Meeting on April 29
New Pathway – Ukrainian News.
For Ukrainian Credit Union Limited, the year 2024 marked the 80th anniversary of its founding by cooperative pioneers from the Toronto Branch of the Ukrainian National Federation of Canada. Since 1944, UCU has worked for and stood by its members and its community, helping build a prosperous Canada while never forgetting Ukraine. The same held true in 2024, as reflected in the results presented at the credit union’s annual meeting on April 29.
Last year, UCU remained the largest Ukrainian financial co-operative in Canada in terms of assets, membership, and branch network. The total assets under the credit union’s administration reached $1.440 billion, membership grew to 29,839, and UCU launched the pilot of its mobile banking centre—a full-service, wheelchair-accessible branch on wheels featuring two offices and an on-board ATM.
UCU’s financial results demonstrated a healthy post-COVID rebound. The credit union’s net profit increased by over 25%, exceeding $2.6 million. Both members’ deposits and loans to members showed solid growth—by 6.5% and 2.4% respectively—while financial ratios substantially exceeded minimum regulatory requirements. As of the end of 2024, UCU maintained its respectable ranking as the 14th largest credit union in Ontario by asset size.
In 2024, UCU continued to support Ukrainian newcomers arriving in Canada due to russia’s war of aggression, offering them preferred pricing and dedicated support programs.
At the meeting, CEO Taras Pidzamecky highlighted the credit union’s UCU Helps Ukraine member-based giving program, which in 2024 marked its 10th anniversary of providing humanitarian and material aid to Ukraine’s military and civilian population. Established in 2015 to assist wounded Ukrainian soldiers and their families impacted by russia’s war against Ukraine, the program expanded its mandate following russia’s unprovoked full-scale invasion on February 24, 2022, to include the supply of non-lethal, lifesaving equipment to the Ukrainian Armed Forces on the front lines.
UCU CEO Taras Pidzamecky speaks at UCU Annual Meeting on April 29
In 2024, UCU Helps Ukraine raised over $180,000 through various fundraising initiatives, including pysanka workshops, St. Demetrius Branch bake sales, T-shirt and tourniquet sales, handmade pysanka sales, and Christmas bazaars. Thanks to the generous support of UCU management, members, and corporate sponsors, the program’s total funds raised now exceed $1.4 million. To support frontline soldiers, UCU Helps Ukraine has provided drones, tourniquets, vehicles, computer equipment, communication devices, and protective gear—contributing significantly to their safety and resilience.
UCU’s generosity extended further with its investment of $940,000 in financial assistance for community organizations, events, and media, continuing the credit union’s longstanding tradition of supporting both the Ukrainian community and the broader Canadian society. At the meeting, Dr. Natalia Lishchyna, UCU Chair of the Board of Directors, presented the President of the Ukrainian Canadian Congress Alexandra Chyczij with a generous $10,000 donation.
UCU Chair of the Board of Directors Dr. Natalia Lishchyna (right) presents the donation to UCC President Aleksandra Chyczij
Young winners of UCU scholarships were announced at the meeting: Claudia Pirog, Sophia Szczurko, Julian Holyk, Zoriana Holyk, Sonia Krzywucki, Olena Zubrytska, Katherine Vainberg, Victoria Kis, Alexander Zienchuk, Stefan Dmytryshyn, and Anna Futerko (UCU Community Leadership Award, $1,000 each), and Sofia Ostapchuk (UCU Michael Rebryk Memorial Scholarship, $2,500).
Dr. Natalia Lishchyna with UCU Scholarship winners
The annual meeting also paid tribute to UCU members who passed away in 2024. That year, the credit union bid a farewell to Mr. Karl Pidzamecky—former Supervisory Committee member, lifelong cooperator, and the oldest past member-elected officeholder—who passed away on February 16, 2024, at the age of 100. The meeting also marked the passing of UCU’s long-term employee, Mrs. Marion Samchee.
With files from UCU
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