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The CREDIT Union That Begins with “U” УКС – Спілка Починається З Тебе

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The CREDIT Union That Begins with “U” УКС – Спілка Починається З Тебе The CREDIT Union that begins with “U” УКС – Спілка починається з Тебе Ukrainian Credit Union Limited Annual Report 2014 Українська Кредитова Спілка Лимитед Річний Звіт 2014 UKRAINIAN CREDIT UNION LIMITED ANNUAL REPORT 2014 Ukrainian Credit Union Limited Director Slawko Borys at a rally in support of At a happier time in the evolution of Ukraine’s political and social system, Taras the Maidan at Toronto’s City Hall. Slawko is a member of Ukrainian Canadian Pidzamecky, CEO of Ukrainian Credit Union Limited (second from left) with Congress – Toronto Branch and helps organize community events such as this. UCU Director Greg Adamowich and Operations Manager Alison Conroy rally in support of Maidan at Yonge-Dundas Square in Toronto. With them is Roman Sochaniwsky a former long-time employee of the credit union. Vlad Pasternak, Manager of Ukrainian Credit Union Limited’s St. Catharines Maria Binczarowski of our Mississauga Branch congratulates UCU member Branch presents a donation to John Schudlo, President of SUM St. Catharines, Ivan Domaradzky on his 100th birthday and presents him with a delicious cake during the Trivia Night at SUM Plenum held at Black Sea Hall. and gift. Ukrainian Credit Union Limited Director Walter Kish presents a donation to Andre Sochaniwsky, Chair of the Board of Directors of Ukrainian Credit Union Rustem Irsay, President of the Crimean Tatar Community of Ontario. Limited, at a rally in support of Maidan at Toronto City Hall in January. 2 РІЧНИЙ ЗВІТ УКРАЇНСЬКОЇ КРЕДИТОВОЇ СПІЛКИ ЛИМИТЕД ЗА 2014 Taras Pidzamecky, CEO of Ukrainian Credit Union Limited, signs a book of Daria Bilak (left) of Tsiopa Palijiw School accepts a donation from Nari Ismail of condolences on behalf of UCU members at a February 23, 2014 rally outside the Western Union and Olya Sheweli, Director of Ukrainian Credit Union Limited. Ukrainian Embassy in Ottawa in memory of Maidan sniper victims. Ukrainian Credit Union Limited Director Walter Kish presents a major donation Ukrainian Credit Union Limited Director Slawko Borys (second from left) to Terenya Tonkovich for the Ivan Franko Home’s Tree of Love Campaign. with winners of the My Shevchenko contest sponsored by UCU in honour of Shevchenko’s 200th Anniversary. Lesya Babiy and Serhiy Danko of Ukrainian Credit Union Limited’s Mississauga Yuriy Nesvit, Hamilton Branch Manager, and Michael Zienchuk, Manager of the Branch participate in the bazaar at St. Joseph’s Ukrainian Catholic Church in Wealth Strategies Group at Ukrainian Credit Union Limited, during the annual Oakville. BBQ held at Hamilton Branch. 3 UKRAINIAN CREDIT UNION LIMITED ANNUAL REPORT 2014 Executive Report for 2014 Екзекутивний звіт за 2014 р Dear Members, Шановні члени, With your support and patronage over the past year our co-operative За вашої підтримки протягом минулого року наша кооператива enjoyed continued financial growth and increased profitability. At the продовжила зростання фінансових показників і підвищення same time Ukrainian Credit Union Limited expanded its services and прибутковості. За цей рік Українська Кредитова Спілка Лимитед stayed true to our vision of supporting causes close to the hearts of our також розширила свої послуги і залишилася вірною нашому membership and our goal of building community. баченню підтримки справ, які є близькими до серця наших членів і відповідають принципам будівництва громади. Financial Highlights for 2014 Maintaining financial margins in a falling rate environment, increased Основні фінансові показники на 2014 рік generation of non-interest revenues, and operational cost control remained Підтримання прибутковості в умовах падіння відсоткових ставок, the focus of our financial strategy in 2014. This strategy resulted in strong збільшення невідсоткових доходів, та контроль над операційними asset and profit growth, together with the additional regulatory capital витратами залишалися в центрі нашої фінансової стратегії в 2014 році. required to grow our business in a sustainable manner and ensure the Ця стратегія дозволила значно збільшити наші активи і прибутки, а safety of member deposits. також накопичити додатковий регулятивний капітал, необхідний для Assets increased $47.7 million (7.6%) to $675 million, deposits grew зростання нашого бізнесу на стійкій основі і забезпечення безпеки $13.6 million (2.5%) to $557,613 million, while loans to members внесків наших членів. increased $42.16 million (7.7%) to $591.0 million. Securitization of Наші активи збільшилися на $47.7 млн (7,6%) до $675 млн, депозити residential mortgage pools originated by the credit union continued to be a зросли на $13.6 млн (2,5%) до $557,613 млн, у той час як кредити key source of liquidity in funding new borrowing by members. членам виросли на $42.16 млн (7,7%) до $591.0 млн. Сек’юритизація In 2014, our credit union received a total of 1,450 credit applications (vs. пулу іпотечних кредитів, виданих спілкою, як і раніше була основним 1,477 in 2013) of which 1,181 were advanced, 236 were declined or джерелом ліквідності для фінансування нових кредитів для наших cancelled, and 33 were pre-approved but not yet advanced by year-end. членів. Loans advanced totalled $173,309,079 (vs. $165,784,346 in 2013) and У 2014 році наша кредитівка отримала в цілому 1,450 заявок на кредит were broken down as follows: (проти 1,477 у 2013 році), з яких 1,181 були профінансовані, 236 були відхилені або скасовані, а 33 були попередньо затверджені, але ще Residential Mortgages 341 $ 88,712,372 не були профінансовані станом на кінець року. Видані позики склали Personal Loans 347 $ 6,668,158 $173,309,079 (проти $165,784,346 у 2013 році) і розподілялися Lines of Credit 331 $ 29,526,121 наступним чином: Commercial Loans 162 $ 48,402,428 Іпотеки 341 $ 88,712,372 Total 1,181 $ 173,309,079 Персональні кредити 347 $ 6,668,158 Кредитні лінії 331 $ 29,526,121 The aggregate annualized dividend paid on Class A Shares was 3.58%. Комерційні кредити 162 $ 48,402,428 Loan loss provisions were adjusted upward to $787 thousand (vs. Загалом 1,181 $ 173,309,079 $680 thousand in 2013) reflecting loan growth and the credit union’s updated assessment of our credit portfolio’s risk profile. Сукупний річний дивіденд на уділи класу A становив 3.58%. Резерви на можливі втрати по кредитах були скориговані вгору Income before income taxes for the year was $2.301 million (vs. до $787 тисяч (проти $680 тис. в 2013 році), що відображає $2.121 million in 2013). After income taxes of $338 thousand (vs. зріст в позиках та оновлену оцінку ризиків нашого кредитного $362 thousand in 2013), net profit for 2014 was $1.963 million (vs. портфеля. $1.759 million in 2013). Прибуток до податку на прибуток за рік склав $ 2.301 млн. (проти $2.121 млн в 2013 році). Після сплати податків на суму $338 тисяч 2013 (millions) 2014 (millions) Growth (у порівнянні з $362 тисячами в 2013 році), чистий прибуток за Assets $ 627.3 $675.0 7.6% 2014 р. склав $ 1.963 млн (проти $1.759 млн в 2013 році). Loans $548.9 $591.0 7.7% 2013 (млн) 2014 (млн) Ріст Net Profit After Tax $1.759 $1.963 11.60% Активи $ 627.3 $675.0 7.6% Кредити $548.9 $591.0 7.7% Чистий прибуток $1.759 $1.963 11.60% після податків 4 РІЧНИЙ ЗВІТ УКРАЇНСЬКОЇ КРЕДИТОВОЇ СПІЛКИ ЛИМИТЕД ЗА 2014 Comprehensive income, which includes unrealized gains and losses, Сукупний дохід, який включає в себе нереалізовані прибутки was $1.226 million compared to $2.986 million in 2013. The change та збитки, склав $1.226 млн у порівнянні з $2.986 млн. в in comprehensive income was primarily due to the re-measurement 2013 році. Ця зміна в сукупному доході сталася в першу чергу of the credit union’s liability under its defined benefit pension plan for через переоцінку зобов’язань кредитової спілки за пенсійними employees, a figure which fluctuates periodically based on prevailing планами для працівників, які періодично коливаються залежно interest rate projections used in actuarial calculations. від прогнозів відсоткових ставок, які застосовуються в актуарних Retained earnings increased to $25.807 million (vs. $24.124 million розрахунках. in 2013), and as at December 31, 2014, the credit union’s regulatory Нерозподілений прибуток збільшився до $25.807 млн (порівняно capital stood at $44.191 million, an increase of $0.942 million over з $24.124 млн. в 2013 році), і на 31 грудня 2014 р. регулятивний the previous year. Our year-end capital leveraging ratio was 6.5%, капітал кредитової спілки склав $44.191 млн, збільшившись на while our risk-weighted capital ratio stood at 13.1%. Both capital ratios $0.942 млн. у порівнянні з попереднім роком. Наш показник continued to significantly exceed regulatory requirements of 4% and достатності капіталу на кінець року склав 6.5%, в той час як 8%, respectively. наш показник достатності капіталу з урахуванням ризику склав As one of the 15 largest credit unions in Ontario by asset size, in 13.1%. Обидва показники достатності капіталу, як і раніше, 2014 UCU compared favourably with this peer group both in terms значно перевищують нормативні вимоги у 4% і 8%, відповідно. of operating costs and net income before taxes and non-recurring and Будучи одною з 15 найбільших кредитових спілок в Онтаріо за extraordinary items as percentage of average assets. розміром активів, у 2014 році УКС вигідно відрізнялася на тлі цієї групи як у плані операційних витрат так і в плані чистого Remaining 15 Largest UCU прибутку до сплати податків, одноразових і непередбачених Ontario Credit Unions витрат порівняно з середніми активами. Total Non-Interest Expense as 2.00% 2.38% Решта 15-ти найбільших percentage of Average Assets УКС кредитових спілок Онтаріо Net Profit Before Taxes, Non- 0.35% 0.29% Загальні невідсоткові витрати Recurring & Extraordinary Items 2.00% 2.38% як частка середніх активів *Source: DICO Financial Highlights Annual as at December 31, 2014 Чистий прибуток до податків, одноразових і 0.35% 0.29% At the end of December, 2014 the credit union’s membership was непередбачених витрат 24,925.
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