East Coast Credit Union reported successful results from 2022.
ECCU hosted is AGM on April 18 and released its 2022 results for the fiscal year, which the credit union states demonstrate their commitment to continued financial growth and dedication to the communities it serves.
ECCU president and CEO Ken Shea said it was a successful year, noting they ended the year with 42,807 members and $1.17 billion is assets. He also noted assets increased by 8.9 per cent, and net income increased by 52.8 per cent.
Shea pointed to the work of the ECCU in the communities they serve, noting 2022 was the second year for the #EastCoastCUCares grant program, which made $100,000 grants available to help co-operatives and social enterprises in the province. The ECCU contributed over $400,000 in community impact funds in areas of environment, community wellbeing, economic development, education, and governance.
The credit union also received the first ever National Environment, Social, and Governance award by the Canadian Credit Union Association, which they got for their work in helping the community of St. Andrew’s, Nova Scotia meet its goal of reducing the area’s carbon footprint.