UNI: $10 MILLION IN DIVIDENDS TO MEMBERS AND COMMUNITIES
Posted on Tuesday April 19, 2022
UNI: $10 MILLION IN DIVIDENDS TO MEMBERS AND COMMUNITIES
At its annual general meeting on Tuesday, April 19, UNI Financial Cooperation disclosed its financial statements and those of its subsidiaries for the fiscal year ending December 31, 2021.
The UNI board of directors and senior management were proud to report very positive performance in 2021.
“For the year ended December 31, 2021, our pretax surpluses and other items totalled $28 million, making it our best consolidated result since our great UNI cooperative was created. Our co-op has reached a historic milestone of $5.2 billion in assets. These historic results reflect the vitality of our growth, our financial strength, our know-how and the great trust our members and clients place in our institution,” said Robert Moreau, President and Chief Executive Officer of UNI.
On the strength of these exceptional financial results and as a true reflection of our cooperative spirit, UNI will share $10 million in dividends with members and our communities to support local vitality and prosperity in New Brunswick. True to our cooperative spirit, this exceptional prosperity is shared.
For the first time since the adoption of its rebranding, 2021 results allow UNI to pay out individual dividends. That means that $7.5 million will soon be redistributed to members. This member dividend comes at an opportune time for many New Brunswick families, who are feeling the effects of the inflationary pressures of recent months. What a great illustration of the co-operative spirit!
$2.5 million was also redistributed to our communities in 2021 in the form of donations, sponsorships, partnerships and scholarships.
These financial results also demonstrate UNI’s resilience. They show that UNI is right to feel so passionately about the need to remain agile and stay abreast of current and future trends in finance.
“In 2021, UNI celebrated its 85th anniversary. What a privilege it is to continue this great success story based on solidarity, responsibility and courage. Helping to build the financial future of members and clients and the economic vitality of our communities is an honour for all board members. We know that each of our decisions must bolster the long-term prosperity of UNI and its members, and we pay the utmost attention to this. Our growth strengthens our role as a financial cooperative because, in the words of Martin J. Légère, “profits are what allow us to serve the people part of our business so well.” In terms of tangible and positive benefits, we were able to set aside $10 million in 2021 to be redistributed in communities and among members,” said Pierre-Marcel Desjardins, Chairman of the UNI Board of Directors.
Highlights:
- 2nd Voilà! Contest hands out $300,000 in awards to community organisations through to the votes of our members
- 1st Solidarity Day during which 630 UNI employees volunteered to take significant environmental action in their local areas
- Major donation of 1 million $ in support of New Brunswick youth in Sistema NB’s “10,000 Children” fundraising campaign
- Development of new business markets across Canada and accelerated investment in business intelligence, digital technologies, and research and development
- An anticipated 100 new high-profile jobs and great new opportunities for our communities
- Growth of $90 million in new out-of-province residential mortgages in the last two years
- UNI business partners in almost all provinces and continuing expansion efforts in 2022 to contribute to New Brunswick’s economic vitality
- UNI employees who embody the values of engagement and purpose every day, as well as the customer promise
About UNI Financial Cooperation
UNI Financial Cooperation is a major economic player that contributes actively to a thriving, growing economy in New Brunswick and beyond. UNI is committed to values of solidarity, responsibility and courage for the greater benefit and prosperity of the organization and its members and clients. To learn more, visit www.uni.ca.
Press relations
Ginette Hébert
Director of Communications
UNI Financial Cooperation
506 724-1123