SASCU Credit Union had a record 108 members attend at its 79th Annual General Meeting on Tuesday, May 6.
The meeting, which had both in-person and virtual attendance, opened with an Indigenous welcome from well-known Secwépemc member and storyteller Kenthen Thomas.
A media release from the meeting reported that board chair Dave Witt took over from there as master of ceremonies and noted, among other highlights, the return of $220,000 into SASCU communities last year. In the annual report, he added that employees also contributed hundreds of volunteer hours to local non-profits.
In that report, he also noted that while there was some stabilization in the global economy and drops in interest rates, people are still suffering from the rapid cost of living increases throughout the pandemic.
"Despite the challenges posed in 2024, I am proud to say that SASCU held strong," he said.
President and CEO Barry Delaney also spoke at the AGM, and discussed SASCU's path forward with a new strategic plan with five areas of focus including Community Impact, Engage Members, Be Resilient, Differentiate Locally, and Embrace Partnerships. The plan's slogan is to "Raise the Shuswap," that is designed to have meaningful impact on local communities.
A review of the 2024 financials, including a presentation from auditors MNP, showed steady financial returns from the credit union and its subsidiaries SASCU Wealth and SASCU Insurance Services. Highlights included the growth of SASCU's capital base to $75 million, the media release said is "a key indicator of stability and resilience."
Also of note was that SASCU closed the year with pre-tax earnings of $4.3 million.
The meeting closed with nominating committee chair Dawn Dunlop announcing the board's elections results, with newcomer Doug Easterbrook joining incumbents Constance Ladell and June Stewart.
The full 2024 annual report can be found under reports on the news and events page at sascu.com/about/community/news-and-events, with hard copies available at all branches.
