Founding Principles

1. Voluntary and Open Ownership

Provincial Credit Union is a voluntary organization, open to all persons who wish to utilize our products and services and are willing to accept the responsibilities and privileges of Ownership, without gender, social, racial, political, or religious discrimination.


2. Democratic Owner Control

Provincial Credit Union is a democratic organization controlled by our Owners, who actively participate in setting our policies and making decisions. Men and women serving as elected representatives are accountable to the Ownership. Each Owner has equal voting rights and an equal voice.


3. Economic Participation

Owners contribute equitably to, and democratically control, the capital of Provincial Credit Union. Owners usually receive compensation in the form of Share Dividends on their capital as part of being an Owner whenever possible. Owners allocate surpluses for any or all of the following purposes: developing the Credit Union, possibly by setting up reserves, part of which at least would be indivisible; benefiting Owners in proportion to their business with Provincial Credit Union; and supporting other activities approved by the Ownership.


4. Autonomy and Independence

Provincial Credit Union is an autonomous organizations controlled by our Owners. If we enter into agreements with other organizations, including governments, or raise capital from external sources, we do so on terms that ensure democratic control by our Owners and maintain our autonomy.


5. Education, Training and Information

Provincial Credit Union provides education and training for our Owners, elected representatives, managers, and employees so they can contribute effectively to the development of Provincial Credit Union and the community.


6. Co-operation among Co-Operatives

Provincial Credit Union serves their Owners most effectively and strengthens the co-operative movement by working together with other Co-operatives through local, provincial, regional, national, and international structures.


7. Concern for Community

While focusing on Owners’ needs, Provincial Credit Union works for the sustainable development of our communities through policies accepted by our Owners.