1. Profits, assets,
membership
climb at MCU
THE Maleny Credit Union (MCU) per-
formed strongly in a challenging financial
year, increasing net profit after tax by 11.2%
and recording 20.9% growth in assets.
"As MCU is conservatively managed and
operated, the credit union was not affected
by the global financial crisis, as we do not
engage in sub-prime lending and don't rely
on the volatile wholesale funding market,"
CEO Greg Stevens said.
This financial year's report also found
that membership increased by 6.3%.
The MCU Charitable Trust returned
$22,846 to the local community in the form
of community grants, and 49% of the credit
union's loans funded this year were for en-
vironmentally friendly purposes.
Mr Stevens said the new financial year
would see a building renovation and com-
puter conversion to a new state-of-the-art
core banking system, which would allow
for more efficient banking services, includ-
ing SMS and mobile banking.
The credit union is celebrating its 25th
silver jubilee year this year.
It will hold an open day on September 10
to mark the anniversary for residents, local
business owners and their employees, as
well as members. The upcoming renova-
tion plans will be on display.
GOING STRONG: Maleny Credit Union development manager Peter Pamment, CEO Greg
Stevens and Tanya McJannett. PHOTO: BRETT WORTMAN/181795
Ref: 56438391Copyright Agency Limited (CAL) licenced copy
Sunshine Coast Daily
02/09/2009
Page: 37
General News
Region: Maroochydore QLD
Circulation: 34964
Type: Regional
Size: 242.63 sq.cms
Frequency: MTWTFS-