|
|
Article: North Shore Credit Union Posts Strong Financial Results Once Again
- Article from:
- CCNMatthews Newswire
- Article date:
- February 13, 2006
CopyrightCopyright 2006 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
|
NORTH VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 13, 2006) -
Financial institution experiences sixth year in a row of
significant profit
North Shore Credit Union (NSCU) announced today that for the sixth
consecutive year it has surpassed its financial targets, and
experienced healthy growth.
Net operating income stood at just over $10 million - marking the
sixth year in a row of significant profit, which has averaged 31 per
cent growth per year over those six years. At this stage of the
business cycle, mortgage loan losses have been negligible, but
interest margins have been under significant pressure due to the
current interest-rate environment.
The 65-year-old organization's assets ...