Sunrise Credit Union recorded a record year in 2021.
Sunrise held its annual meeting virtually on Tuesday with about 160 people taking part.
The meeting included the release of the Sunrise Credit Union 2021 Annual Report, which included the audited financial statements. The statements reflect a Net Income of $7.5 million, Loan Growth of 5.7%, Deposit Growth of 7.0%, and Total Equity of 6.5%.
"2021 was another record year for Sunrise Credit Union. Our assets topped $1.7 billion, and our profit reflected a 300% increase over 2020." said Sunrise President and CEO Tim Klassen, "We also continued to work on improving processes to increase efficiency and enhance member service.”
Marketing Manager Terri Roulette McCartney says supporting member communities remains a priority for Sunrise Credit Union. “That’s one of the things I’m most proud of being an employee of Sunrise Credit Union is how much it gives back to the communities we serve.”
“I think over half of our communities we are the only financial institution in those communities so giving back through sponsorship and donations is all a part of who we are and what we do.”
Klassen highlighted some of the support Sunrise provided to members during the pandemic, including more than 1,100 residential mortgage and loan deferrals.
“We deferred close to 500 different kinds of loan payments just in 2021. We deferred over 700 residential mortgage payments in support of our members. These were members who had income impacted by the pandemic. We get to know our members and they know us and that builds a trust and empathy is at the bottom of everything we do” said Roulette McCartney.
She added the credit union administered loans to small businesses totaling 58 million dollars. Those loans were administered on behalf of the government to help small businesses get through the past couple of years.
Sunrise Credit Union has 20 branches with approximately 33,000 members and about 220 employees.