Solid growth and extensive planning were the hallmarks of a year in which Savings & Loans moved closer to fulfilling its vision of being the best member-owned financial institution for everyday Australians.
The organisation is now well positioned to meet the challenges of the future, which include tightening margins, increasing competition and an economy where housing affordability and household debt continue to be of concern.
On a positive note, we have much to look forward to with unemployment at record lows.
Internally, sound financial management and strategic planning has enabled Savings & Loans to set its sights on new markets in 2008.
My role as Chairperson commenced in November after Kevin Crawshaw stepped down following six years in the role. Kevin has led the Credit Union through one of its most prosperous and exciting periods and I extend my thanks to him for his work. He will continue to shape the future of Savings & Loans as a Director, having been re-elected to the Board in 2006 along with Jan McMahon. I congratulate both Jan and Kevin on their re-election.