The Capricornian's CEO John Brown (left) and Chairman Tony Edwards (right) Photo: Contributed
The Capricornian's CEO John Brown (left) and Chairman Tony Edwards (right) Photo: Contributed Contributed

Successful year for Capricornian

THE Capricornian's Chairman Tony Edwards is celebrating a successful financial year. 

The 2013/2014 financial year has seen community-owned credit union, The Capricornian, deliver exceptional results for its members. 

"Together we have achieved good results against our goals and have moved in a positive direction, in, at times, difficult economic conditions," Mr Edwards said.

The Capricornian reported a pre-tax profit of $1.625 million for the 2013/2014 financial year. 

"This is an increase of 74% from the pre-tax profit of the previous financial year," he said.

"As a result, member's equity in our credit union has grown, increasing by $1.15 million and standing at $18.9 million.

This is a 66% increase compared to the previous year." Mr Edwards said.

Despite a difficult lending market, The Capricornian has seen a 5.4% increase in their housing portfolio during the year. 

The Credit Union held assets totalling $279 million at the end of the financial year.

Total savings deposits held on behalf of its member's within our communities stood at $258 million.  



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