2024 Annual Report

The 2024 Annual Report, themed "Building Strong: Resilience + Adaptability," detailed a challenging fiscal year for PECU. A significant one-time provision of $6.9 million on an underperforming investment severely impacted profitability, reducing the net surplus to $456,830. Despite this financial setback, the credit union demonstrated resilience by growing its loan portfolio to $101.1 million and maintaining a stable delinquency rate of 3.1%. Strategic decisions included temporarily halting the Tobago building project and advancing the final stages of a major digitalization initiative partly funded by an IAD Bank grant. Reflecting a commitment to its members even in difficult times, the Board proposed a 3% dividend.