Our Annual Report is now online

Teachers Credit Union’s Annual Report released today shows the credit union is in good shape, with healthy profit and asset growth over the last financial year.

The credit union’s asset base grew to $3.5 billion in 2010/11, up 14% on the previous year. Net profit after tax grew by 18.14% to $29.14 million. Despite a tougher home loan market in 2010/11, total loans were up 14.05%. Deposits also grew by this percentage – 14.05%.

During 2010/11 liquidity was strong at 18.48%, and capital reserves were raised to $290 million.

Teachers Credit Union’s capital adequacy ratio stood at 15.65% at the end of the financial year, significantly above many of our major competitors.

> View the full 2011 Annual Report