Affinity Credit Union, with branches in southeast Saskatchewan, including Estevan, showed an overall increase of 11 per cent in managed assets in 2015.
That information was revealed in Affinity’s annual report at their annual general meeting held in Saskatoon on April 20. The meeting was live streamed to Estevan for the benefit of local members who wished to attend the session at the local branch via the online hookup.
Affinity showed a net operating income of $32.8 million and a deposit growth of 8.33 per cent while loans grew by 7.44 per cent in 2015, the credit union said in their annual report to the media that accompanied the annual general meeting.
Income before taxes rose by $2.2 million over the previous year, making Affinity the largest CU in the province in terms of net operating income.
Financial success in 2015 enabled the credit union to continue fueling local economies across the province, said CEO Mark Lane who highlighted some of Affinity’s features that included several new online, branch and mobile advances introduced last year.
Lane also said members now have easier access to wealth management, mortgages and business services using video links that enable them to meet face-to-face with specialists, regardless of their location. Video-enabled ATMs that allow members to see and speak with Affinity representatives who then guide them through transactions, were also rolled out at two Saskatoon locations. All members now enjoy expanded mobile banking applications including Interac and e-transfers which enable them to send money using mobile phones.
Lane said, “these are examples of important investments in our future — we are responding to a rapidly changing financial services environment and to the expectations of our members. Affinity will continue to invest in ways that deliver excellence in terms of our members’ experience.”
Affinity said 100 per cent of member loans were financed by member deposits to the tune of $3.95 billion representing over 70,000 member loans for home mortgages, businesses, farmers and startups.
About six per cent of pre-tax profits, or about $2.5 million was provided in community grants and donations to 1,626 community initiatives including recreation centres, sport complexes, playgrounds, parks, child-care centres, community halls, libraries, museums and housing facilities.
Affinity also provided $109,000 to young people by way of scholarships and leadership awards.
Affinity is now the eighth largest credit union in Canada with $5.9 billion in managed assets and the largest credit union branch network in Saskatchewan. It has a workforce of over 900 and is 100 per cent owned by over 135,000 members.
