Assiniboine Credit Union and Newfoundland and Labrador Credit Union were the big winners at the Credit Union Central of Canada’s annual National Credit Union Awards, which were held at the CUCC’s annual conference in Vancouver this week.

Winnipeg-based Assiniboine Credit Union received the 18th annual Community Economic Development Award in recognition of its community building efforts during the last decade.

The credit union has supported affordable housing programs with loans, partnerships and lobbying; opened an inner-city branch in an area that had been abandoned by more traditional financial institutions; developed customized savings accounts that help low-income people save and developed a new initiative to help people who have been relying on pay-day loan outlets by providing basic banking services and financial literacy.

NLCU received the fourth annual National Credit Union Innovation Award for its energy-efficient mortgage product. When Canada Mortgage and Housing Corp. announced a program to encourage energy-efficient housing, NLCU was the first financial institution in the country to leverage this opportunity. NLCU developed a mortgage with an extended term that allows buyers of energy-efficient homes to qualify for reduced insurance premiums and federal grants. The new product has allowed NLCU to forge new partnerships with home builders and others in the industry.

The National Credit Union Young Leaders Award recognizes tomorrow’s leaders in Canada’s credit union system. The winner of the $10,000 scholarship was Sean Lesy, executive manager of finance services, Lloydminster Credit Union, SK.

CUCC is the national trade association and finance facility for Canada’s 526 credit unions that serve 4.8 million members, control $87 billion in assets and employ more than 22,000 people.