Page 27 - MCCU

MANCHESTER CO-OPERATIVE CREDIT UNION (1977) LTD.

Key Profitability Trends

Table 2 shows the trends in key
profitability ratios over the past five
(5) years. The Credit Union achieved
an income to asset ratio of 11% in
2017. This was a slight decline from
the 11.1% in the 2016. The return on
assets ratio was 1.8% at the end of
the financial year. This was a slight
increase from the 1.7% achieved in
2016.

Asset Growth

Total assets ended the year at $4.9 billion.
This represented an increase of 9.3% over
the amount for 2016. Table 3 indicates the
movement in our Credit Union’s asset base
over the last five (5) years. The accumulated
increase over the period was $2 billion or
64%.

Loans

The growth in total assets was aided by a
12% or $295 million increase in loans after
provisions were accounted for. This increase
was supported by robust growth in
Unsecured loans and Real estate loans which
rose by 22% and 12% respectively. Motor
Vehicle loans also went up by 3.2% during
the year.

Table 4 shows the extent of the growth in
net loans over the last five (5) years. The
average annual loans growth over the five
year period was 24%.

Amidst the stiff competition faced during the
year our Organization managed to achieve
the aforementioned loans growth. We will
continue to review our loan products to
ensure that we remain competitive.

Meanwhile, we urge you the members to
make the Credit Union your lending
institution of choice.

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27
“Where Service Exceeds Expectation”