Bank Locally 2016.jpg

Annual Report

President
& CEO’s Report

Despite another challenging year with  continuing economic uncertainty, increased  competition and regulatory compliance  your credit union ended the year with $267  million in assets and a profit of $814 thousand.  Total capital increased to $16.8 million or  6.3% of assets. Capital is the “cushion” that  the credit union has to withstand downturns  or losses. Swan Valley Credit Union  continues to exceed the regulatory requirements  mandated by the Deposit Guarantee  Corporation of Manitoba.

Swan Valley Credit Union takes pride in the  support we give to our communities through  initiatives such as the annual “Beef on a  Bun”, our “My Community Matters Grants”  and our staff “Jeans Day Charity”.

Annually our employees give over 2000  hours of volunteerism to a wide variety of  charitable and non-charitable organizations  throughout the valley.

There have been many new faces in 2016,  however we also said goodbye to 2 of  our long term employees. To Margaret  Dunn, Wealth Services Manager & Marilyn  Kerestes, MSR – we wish you both a long and  happy retirement.

We continue to make significant investments  through training, technology enhancements  and processes to improve our member  service. This year we began transitioning our  debit cards to new Everlink flash debit cards  providing our members the convenience  of flash (Tap and Go) transactions and  positions the credit union for the rollout of  mobile payments – making payments via  your mobile phone.

We value the experience and dedication  our staff provide on a daily basis and  thank them for their efforts and hard work.

Your board of directors also undertakes  continuous learning to remain effective and  to better serve the interests of our members.  Collaboration between credit unions is  becoming more commonplace and this year  the boards of Swan Valley CU, Prairie Mountain  CU and Flin Flon CU held a joint strategic  planning session. Swan Valley CU also  participated in other collaborative discussions  with credit union groups throughout Manitoba.

In closing we wish to thank all our members  for your continued patronage and for choosing us to be your financial service provider as w e continue……building a better future with you

 

Don Pratt, CEO

Brian Cotton, President

To read the entire Annual Report click here.

 

 


Main Branch

913 Main Street E.
Box 1510 Swan River,
Manitoba R0L 1Z0


Phone: 1-877-218-7828
Fax: (204) 734-3968

Benito Branch

103 Main Street
Benito, Manitoba
R0L 0C0


Phone: (204) 539-2400
Fax: (204) 539-2401

Minitonas Agency

Minitonas Community Store
267 2nd Ave.
Minitonas, MB R0L 1G0


Phone: (204) 525-2623
Fax: (204) 525-2624

© Swan Valley Credit Union 2013

Swan Valley Credit Union  Main Branch is a BBB Accredited Credit Union in Swan River, MB