82nd Annual General Meeting
of Sunshine Coast Credit Union
May 2nd, 2023, 6pm
We’re pleased to share that 2022 was another successful year for Sunshine Coast Credit Union (SCCU). In addition to strong financial performance, your credit union continued to evolve and strengthen as a trusted financial partner for our members. Thank you for your continued support of our vision to enrich lives and community where our members live and work.
Life activities and plans resumed some normalcy after two years of a global pandemic, and our financial results reflect that shift. Loan growth in 2022 totaled more than $60 million as SCCU helped members secure the financing they needed to achieve their home ownership goals and more. At the same time, as expected, deposit growth was modest as people increased their discretionary spending, with deposits increasing by $5 million in 2022. Once again, we enter the new year based on a solid financial foundation to navigate what is ahead.
Ensuring your credit union continues to thrive relies on anticipation and preparation. SCCU’sleadership team and board have worked purposefully in recent years to expand the organization’s ability to be nimble, adapt when needed, and ensure we are well-positioned for the future.
Read the rest in the Full Report.
We create value for members through:
Integrity: We are authentic, fair, honest, accountable, and respectful.
Passion: Dedicated to creating value for our stakeholders.
Member-Centric: Our actions always reflect the best interests and needs of our members.
We’re committed to building stronger communities in addition to enhancing the financial wellness of our members.
We continue to focus on 6 of the Sustainable Development Goals in our mission to affect meaningful change to the pressing issues that impact our world and the lives of those in our community. In 2022, we donated $190,000 to non-profit organizations through community enrichment grants. We will continue to seek out opportunities to empower the communities we serve.
Thank you to everyone who took the time to check their Financial Wellness! By taking the assessment, you unlocked an additional $25,000 contribution in 2022 to add to our original $50,000 donation, now totaling $75,000 donated to the Building Together initiative which raises funds to build 34 units of affordable housing for women and children as well as a hub to house community support programs.
We are proud to achieve certification in the award-winning Climate Smart program. With data and training to profitably reduce our carbon footprint, we’re enroute to being a sustainability leader, finding ways to reduce our carbon emissions. Part of becoming a Climate Smart business means joining industry-leading companies making environmental stewardship and economic prosperity not only possible, but their new reality.
With our $15,000 Community Enrichment grant, One Straw Society was able to take their Project Waterbox initiative even further. At their garden hub, they installed multiple water systems to water their own crops, acting as a public demonstration of ways that collection, valves, pumps, and drainage can be set up. These water systems are increasingly important as we see the impact of climate change.