Caisses populaires acadiennes posts solid numbers for 2012

Mouvement des caisses populaires acadiennes will be releasing its 2012 financial results at its Annual Congress in Moncton this Friday and Saturday.

For the financial year ending December 31, 2012, Mouvement des caisses populaires acadiennes saw its assets increase by $134 million to a total of $3.2 billion—up 4% from 2011.

The largest Acadian financial institution reported an accumulated surplus before taxes, dividends and other items of $30.8 million.

In commenting on the year’s performance, President and CEO Camille H. Thériault said “This was an inspiring year for us, with the UN naming 2012 the ‘International Year of Cooperatives.’ As part of this special year, we made major changes to our structure to boost efficiency and foster increased growth and development. We opened a new Financial Business Centre and an Administrative Centre, which will serve as important bases for the long-term success of the Mouvement. There were also difficult decisions to make, including cutbacks to our service centres.

“In this period of market uncertainty and slender margins, which result in low interest rates, we must proceed with caution,” Mr. Thériault continued. “We are blessed with a team of directors committed to managing our members’ assets carefully and preserving the legacy of our predecessors, including our much-missed founder, Martin-J. Légère, who left us last month at the age of 96.

“As the largest Francophone and Acadian financial institution, we remain accessible, financially solid and as dedicated to the community as ever,” Mr. Thériault concluded. “We are steadfastly committed to fulfilling our mission, which is to meet member needs.”

A snapshot of the Fédération and its subsidiaries

The Fédération des caisses populaires acadiennes posted accumulated surplus before taxes, dividends and other items of $3.2 million.

Its subsidiary, Acadia Life, had 2012 earnings of $2.6 million. The Acadia Service Centre reported a pre-tax surplus of over $326,000.

Healthy savings and loans portfolios

The Caisses’ loan portfolio remains very strong. Business loans were up $66 million, while personal loans jumped $76 million over the previous year. Total 2012 loan portfolio growth was 6% before allowances for loan losses.

The news was also good for the savings portfolio. Member deposits totalled over $94 million as of December 31, 2012, a 4% increase.

Generosity and community recognition

More committed than ever to the social, economic, and cultural development of Acadian and Francophone communities throughout New Brunswick, Caisses populaires acadiennes will distribute over $3.2 million to members and communities throughout the province. Members will share over $1.1 million in caisse dividends, while nearly $2.1 million will go back into the community in the form of donations, sponsorships, and scholarships.

In the words of Camille H. Thériault, “We aren’t just the financial institution with the greatest number of service centres. We are also the one that contributes most generously to the community. Over a thousand nonprofit organizations and associations receive support from their financial cooperative. This is an example of what makes us different, and a great source of shared pride.”

About the Mouvement

Founded in 1946, the Mouvement des caisses populaires acadiennes is the largest Acadian financial institution in New Brunswick. With global assets totaling more than $3.2 billion, this network of 15 caisses is represented by 62 business locations across New Brunswick. More than 1,100 employees and 200 elected representatives make up the backbone of the organization. For more details, visit http://www.acadie.com.

                             
For additional information:
Mario Griffin
Communications and Public Relations Advisor
Telephone: 506 726-4785
Cellular: 506 724-0078
Fax: 506 726-8220
mario.griffin@acadie.com