The Caisses populaires acadiennes reach $3 billion in assets

Moncton, April 15, 2011 – As part of its Annual Congress, which is held in Moncton this Friday and Saturday, the Mouvement des caisses populaires acadiennes unveiled its 2010 financial highlights to the representatives present.

At the 2010 year-end, the Mouvement des caisses populaires acadiennes registered an increase in assets, to reach the historical milestone of $3 billion, with a $105 million increase, or 3.6% higher compared to the 2009 year-end.

The largest Acadian financial institution declared cumulated surplus before taxes, dividends and other items of $36 million. Thanks to measures taken within the network to counter the crisis that has weakened the economy and financial markets in 2008 and 2009, the Caisses populaires acadiennes are able to announce positive results.

“The year 2010 has not been easy with a slow economic comeback, but thanks to the constant concerns of sound management and caution toward member assets, the directors and leaders have shown the maturity of the measures taken in difficult times. What makes me even happier and more proud is knowing that our members are the collective owners of a francophone and Acadian institution with $3 billion in assets and to us, this is a symbol of the success of cooperation” to comment the President and CEO, Camille H. Thériault.

As for the Fédération des caisses populaires acadiennes, this organization shows considerable profits, with cumulated surplus before taxes, dividends and other financial item of $7.9 million.

In 2010, the affiliate Acadia Life realized operating income of $4.1 million. As for Acadia Service Centre, this affiliate presents surplus before taxes of more than $303,000, or $50,000 more than the budgeted amount.

Savings and loan portfolios

The portfolio of corporate and public administration loans have increased by $50 million, representing an 8% increase compared to the previous year. As for consumer loans and other personal loans, these have increased by $7.4 million compared to the previous year. In total, loan portfolios before allowance for bad debt have increased by $57 million in 2010.

We can also add member deposits to these positive results, which were at $2.5 billion as of December 31, 2010, representing a $91 million increase, or 4%, compared to last year.

Generosity and recognition within communities

The Caisses populaires acadiennes remains generous and among the most involved in social, economic and cultural development of the Acadian and francophone communities throughout the province, with returns more than $5.5 million to members and communities in New Brunswick. Members will share more than $3.6 million in dividends from their caisse, while nearly $1.9 million will have been paid out in donations, sponsorships and scholarships. “Nearly 1,000 non-profit organizations or associations have received support from the Caisses populaires acadiennes in 2010. This is the kind of data that considerably stands out in a company’s financial statements. The Caisses populaires acadiennes are at the heart of communities and contribute to their development in a more tangible way that any other banking institution in New Brunswick” to conclude Camille H. Thériault, President and CEO of the Mouvement.

About the Mouvement

The Mouvement des caisses populaires acadiennes was founded in 1946. It is the largest Acadian financial institution in New Brunswick. With global assets at more than $3 billion, this network consists of 22 Caisses and 82 business locations in New Brunswick. More than 1,200 employees and 350 elected representatives constitute the strength of the organization. The Fédération des caisses populaires acadiennes is located in Caraquet, New Brunswick. For more details, visit our Web site at http://www.acadie.com.

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