The last financial year has seen Savings & Loans continue its impressive performance. Our financial position is better than ever before, we’ve continued to open new branches and expand our services, and our members have enjoyed a fantastic range of products.
Through outstanding financial management we’ve made a record profit of $16.14 million and our assets are now $2.57 billion. This excellent result is due to us doing what we do best: giving our members great value financial products and services. We’ve consistently beaten our lending and deposit budgets during the year and continued to give our members the great, personalised service they’ve come to expect. Breaking these records is a reflection on the competitive interest rates, low fees and superior member service Savings & Loans provides.
While income and lending has continued to increase, expenses have been kept low. It’s a delicate balancing act to ensure we give our members well priced products, increased services and more branches while still keeping expenses down, and I think we’ve got the mix about right.