Mr. Speaker, more and more Canadians are fed up with their banks and are switching to credit unions. Now the credit union movement is taking over rural bank branches deserted by the Bank of Montreal.
Can a bank change? Apparently not. Can credit unions save the day? I am pleased to say that they have been able to save 63 jobs in rural communities across Saskatchewan by buying up 17 branches that the Bank of Montreal wanted to close, plus 17 more branches saving 53 jobs in the province of Alberta. Former customers of the Bank of Montreal in both provinces will be able to continue doing business with a financial institution in their rural communities.
I salute the important role played by co-ops and credit unions as one of the three vital engines of the economy in our country. As the vehicle of their members, rather than their shareholders, co-ops and credit unions prove every day that people can run a successful business by serving their customers instead of milking them dry.
I congratulate the credit union movement for saving jobs and financial services in rural Canada and helping to revitalize the rural way of life. Well done.