JPS & Partners 2017 Annual Report

Board of Directors Report (Continued)
aggressive in their offerring of unsecured
lending, more intense rivalry in the lending
market and the offerring of same day loans
from the alternate investment schemes
which have grown exponentially.
In 2017 our membership grew by 3% with 400 new
members joining the JPS & Partners family. The target
set was 4%. We achieve this growth through location
visits, brand representation in our partner companies to
keep JPS & Partners top of mind, youth members
transistioning to adult membership and members
bringing their eligible family members to join. We
continue to applaud the efforts of location
representatives and members and other volunteers who
continue to recommend new members to be a part of
the benefits of the Credit Union.
Five Year Financial Performance
2013-2017
DELINQUENCY MANAGEMENT
Our delinquency management initiatives
were a mix of successes and challenges.
We achieved a delinquency ratio of 2.29%, well within
the industry standards of 5%. Our budgeted ratio
was 3.5%.
The employment of a number of strategies throughout
the year ensured that we ended the year with a very low
ratio. Our successes came through the use of social
media to contact our members, some who having
acknowledged their debt obligations made arrangements
for payment, financial counseling as an integral part of
the loan assessment process, debt consolidation which
gave the members the relief that results from lower
monthly repayments and the repossession and sale of
some assets used as collateral for loans. In 2017 the
Credit Union having signed with several credit bureaus
began releasing credit information for third party credit
2017 2016 2015 2014 2013
($M) ($M) ($M) ($M) ($M)
Shares 1,247.13 1,205.92* 947.58 893.72 831.11
Deposits 1,964.16 1,918.02* 1,858.46 1,901.54 2,005.03
Loans 2,665.58 2,445.36 2,071.42 1,957.32 1,905.40
Total Assets 4,223.63 4,110.37 3,700.35 3,675.20 3,703.52
Surplus 41.96 30.61 41.36 41.82 30.47
Institutional Capital 681.05 672.77 600.29 592.01 578.65
Members 14,196 13,796 11,840 10,249 9,851
*Reclassified
Pushing you Beyond All Limits!
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JPS & Partners Co-operative Credit Union