North Peace Savings Announces Financial Results For Fiscal Year 2010-2011. Returns in Excess of $1 Million to Members.

Fort St. John, BC, February 8th, 2012

North Peace Savings and Credit Union (NPSCU) is pleased to announce financial results for fiscal year 2010-2011, and a significant increase in all financial measures. Results were achieved in a year when NPSCU:

  • Renovated the Fort St. John branch to better serve the needs of members and employees.
  • Introduced innovative new Personal Teller Machine (PTM) technology, allowing NPSCU to offer the longest banking hours of any financial institution in Fort St. John or Fort Nelson.
  • Launched new products providing more options for saving and borrowing, with high member participation rates.
  • Hired additional employees to provide enhanced Customer Service via its Virtual Service Centre in Fort St. John.
  • Was named Best Financial Institution in the People's Choice 2011 Awards, for its achievements and contributions to the community.

During fiscal year 2010-2011, NPSCU saw its assets grow by 16.2% to reach a record of $281 million, while retained earnings increased by 11.3% to $16.1 million. as a co-operative owned by its members, the credit union was able to return $1.1 million from operating profit via patronage and dividends.

Added CEO Mitchel Chilcott "I am really proud of the fact that we are building a secure, forward-thinking financial institution, while at the same time making a positive contribution to the communities in which we serve. The staff and management have achieved tremendous success this past year delivering significant value to our members, and I look forward to building on that in fiscal year 2011-2012."

A copy of the 2010-2011 Annual Report is available online here.

About North Peace Savings and Credit Union

North Peace Savings and Credit Union is a full service financial organization offering banking, commercial, investment and insurance products. Located in Northeast British Columbia, North Peace Savings has proudly served the North for 64 years and is committed to the social, economic and environmental well-being of the communities in which it operates. NPSCU has three branches, a financial planning office, over 11,000 members and was recently recognized in the area as the People's Choice winner of "Best Financial Institution, 2011".