Kawartha Credit Union Grow Assets By 5.7 Per Cent; Hold 71st Annual General Meeting

Kawartha Credit Union has reported that its assets grew by 5.7 per cent which was reported at the 71st Annual General Meeting announced on Friday afternoon.

Photo courtesy of Kawartha Credit Union.

The meeting was held virtually on Wednesday as the bank received the Board of Directors annual. The 5.7 per cent ended the year at $2.13 billion, according to Norah McCarthy, president and CEO.

“We earned a net income of $7.5 million, increased our membership and grew our loan book at a pace faster than we have achieved in a number of years,” she said.

The meeting also elected three Directors to Kawartha’s Board, Mary McGee, Colin McKeen and Thomas Gregoriades. They are taking over for Gerard Byrne, Emma Elley and Carl Silvestri who have left the board. The meeting also recognized Carl Silvestri for serving on the Board for 37 years. An online election was conducted from January 27 to February 10 that sought out the new members.

“We thank our members for their trust in us and for the privilege of helping them achieve their financial goals,” said McCarthy. “We are also grateful to our employees for their commitment to our members’ financial success and well-being.”

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