Prospera Posts 2015 Financial Results

By on April 15, 2016

Submitted – Members and guests joined Prospera Credit Union for the financial institution’s Annual General Meeting on Thursday, April 14, at the Matsqui Centennial Auditorium in Abbotsford, BC. In addition to reporting on financial results for 2015, the credit union congratulated three re-elected directors, Tracy Gray, Karen Laing and Pauline Havelock, all of whom have been elected for a further three-year term.

Sydney Torok of Chilliwack, recipient of Ron Sweeney Rising Star Award: “It’s an amazing feeling to be recognized and rewarded for giving back to my community”

Sydney Torok of Chilliwack, recipient of Ron Sweeney Rising Star Award: “It’s an amazing feeling to be recognized and rewarded for giving back to my community”

On the financial front, Prospera reported strong financial results for 2015 in terms of earnings and overall activity. Assets under management surpassed $3.6 billion in 2015, primarily as a result of growth on the balance sheet, which grew by $236 million. Strong earnings contributed to members’ equity which grew $8.1 million to $124 million.

“Prospera delivered solid financial performance in 2015, enhancing the credit union’s overall liquidity position to 17 per cent, up from 11.2 per cent in 2014. Our Capital Adequacy Ratio also improved to 13.2 per cent and we brought our five year total for community investment up to $3 million,” said Shawn Good, President and Chief Executive Officer of Prospera Credit Union. “These are strong results given the economic head-winds of 2015 and I’m impressed with the commitment of our staff, leadership, and Board to achieving success in the pursuit of serving our members and communities.”

Prospera Credit Union’s annual report, along with the Management Discussion & Analysis is now available online in a pdf format on prospera.ca, as well as a video of highlights from the AGM.

Prospera’s AGM also featured a presentation by two representatives from Canuck Place Children’s Hospice, where Prospera is sponsor of the Recreation Therapy Program at Dave Lede House, Abbotsford. Through their presentation, Gillian Lagambina and Terri-Lynne MacDonald demonstrated how the program helps children and their families savour their time together and create memories that families will cherish forever.

Topping off the evening was recognition of the Ron Sweeney Rising Star Award, which pays tribute to a young Prospera member whose actions embody the late Ron Sweeney’s spirit of volunteerism. These characteristics include a willingness to get involved; an unselfish giving of oneself; an ability to lead others and a desire to enhance the quality of life in our community and contribute to the well-being of others. Congratulations to Sydney Torok, from Chilliwack. Sydney is an active volunteer and is currently attending the University of Victoria and plans to become a clinical pharmacist.

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