Credit Union Annual Report 2022 - Flipbook - Page 21
The table on the side shows a 2%
increase in total loans approved
compared to the previous year.
Out of Share Loans ($000)
2022
The increase in total loans
approved was mainly due to
2021
Qty.
Amount
Qty.
Amount
TYPES OF LOANS
20% increase in land and
home purchases;
Land & Building Purchase
226
39,675
216
33,155
Debt Consolidation/Refinance
26
11,221
51
8,630
30% increase in
mortgages consolidated
and brought home from
banks;
Contruction
18
6,913
35
13,166
Motor Vehicle Purchase
239
8,100
318
10,572
Property/Home Repairs
16
1,177
18
1,019
Personal
10
627
10
585
Business Investment
5
1,553
4
1,231
Education
5
68
5
186
Boat Purchase
-
-
1
35
Medical Purchase
1
12
1
7
Furniture/Appliances
1
30
-
0
547
$69,376
659
$68,586
26% increase in business
investments; and
18 % increased in
unsecured loans.
Membership &
Attendance
TOTAL
The Credit Committee held 40
(2021: 36) meetings during the
financial year to review and
adjudicate loan proposals for our
members.
Matthew Tibbetts
Chairman
Matthew Tibbetts
Chairman
18
6,820
5,775
Total Within Share Loans
22,616
22,776
GRAND TOTAL
$98,812
$97,137
Members
We expect that interest rates will
continue to increase in the local
market,
which
will
attract
members to come home to our
Credit Union or begin their
borrowing process with us. We
remain committed to providing
the lowest fees and providing
excellent
service
to
our
members.
Credit Committee
Total Unsecured Loans
Position
Credit
Committee
Board Statutory
40
16
1
Matthew Tibbetts
Chairman
28
4
1
Louise Burke
Richardson
Deputy
Chairman
40
5
1
Uche Obi
Member
27
-
1
Jane Ebanks
Member
32
-
1
Keisha Yates
Secretary
37
1
1
Asaph Scott
Member
24
-
-
Beverly McFeild
Walters
Member
11
-
-
Beverley McField-Walters retired from the Credit Committee in November 2021. Asaph
Scott was elected to serve in November 2021.
Louise Burke-Richardson
Deputy Chairperson
Keisha Yates
Secretary
Ida Jane Ebanks
Member
Asaph Scott
Member
Uche Obi
Member
Credit Union ANNUAL REPORT 2022
