Latest News Strong Annual Result
Strong Annual Result
Written by Zanna Corby
Hunter United (the Hunter’s largest locally owned credit union) has announced an unaudited profit of $1,071,888 for the 2010 / 2011 Financial Year.
The credit union grew by 10.75% on the previous year with total assets reaching $238 million. The strongest area of growth came from increased investments from local investors.
Hunter United’s Managing Director, John Ford, said “I’m pleased to report we experienced double digit business growth in 2010 / 2011 along with a strong growth in profit. I’d like to acknowledge the support from our membership and the hard work of our staff. These results have given us the confidence to invest further in our local community with our 9th branch to open shortly at Marketown East.
Mr Ford reported that the credit union was being conservative in its forecasts for 2011 / 2012 due to the uncertainty existing in the economic environment. “Consumer confidence seems to have been adversely impacted by both global and national issues. While employment levels remain very strong we expect households will continue to tightly manage their budgets”.
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