SASCU Credit Union closed out 2023 with more than a few bucks in the bank, posting pre-tax earnings of $4.3 million.
The financial institution held its 78th annual general meeting on Tuesday, May 7, with members attending in person at the Prestige Harbourfront Resort, or electronically. Among other business, there was a review of the financials showing that SASCU finished the year strong.
“Our ability to maintain profitability bolsters member confidence and ensures we are able to continue to have a profound impact in our communities,” board chair Dave Witt said in a media release, adding he’s proud of their success given the year brought excessive inflation, inconsistent employment opportunities and high interest rates from the Bank of Canada.
SASCU president and CEO Barry Delany shared that sentiment.
“I’m incredibly pleased with SASCU’s success throughout 2023,” he said. “Looking ahead we anticipate continuing and heightened challenges, which we have well-positioned SASCU to navigate and continue moving forward.”
Results of the board of director election were also announced at the meeting, with five members having put their names forward for three spots available. Incumbent Dawn Dunlop was re-elected and joined by newcomers Steve DeBoer and Riley Boudreau.
DeBoer, whose career is in finance and accounting, also maintains community connections as a longtime volunteer and board member with several other organizations in the Shuswap. Fellow SASCU rookie Boudreau is a self-described serial entrepreneur and philanthropist, who’s made substantial contributions locally and internationally.
Departing board directors John Schlosar (2000-2009; 2012 to present) and Joan Ragsdale (2018-present) were recognized for their contributions and commitment during their tenures.
The 2023 Annual Report can be viewed online at www.sascu.com under governance, or in person at any SASCU branch.
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