JPS & Partners 2017 Annual Report

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Treasurer’s Report Continued 26.04% was spent on financial expenses, 26.03% for administration expenses, 6.35% for representation cost, 1.04% for loan loss provision, with 9.13% remaining as surplus. BALANCE SHEET Total Assets for 2017 increased to $4.22 Billion, which represent an increase of $113.25M when compared to 2016. Loans to members increased by $210.22M or 8.6% over 2016. The portfolio balance stood at $2.66B at the end of 2017. Loan promotions introduced throughout the year yielded positive results despite the competitive and declining interest rate environment within which we operated. investment in higher income earning products such as stocks and shares. Loan delinquency as at year end stood at 2.29% of the loans portfolio. This is a marginal increase of 0.22% when compared to 2016 delinquency ratio of 2.07%. Our loan delinquency ratio remains well within the international Credit Union benchmark of 5%. Liquid Assets and Financial Investments ended the year at $1.23B, which is a 10.05% reduction when compared to 2016. The channeling of loans on which a higher interest rate was earned was the primary contributing factor for the reduction. Management will continue to be vigilant in their efforts to maintain low levels of delinquency throughout the coming year. The Credit Union continues to provide financial counselling to members and when necessary, utilize all avenues for recovering the amounts owed by some of our members who continue to renege on their agreed repayment arrangements. Members’ deposits and voluntary shares increased by $87.36M or 2.8% moving from $3.12B in 2016 to $3.21B in 2017. The compulsory savings requirement attached to some loan products contributed to the growth. We experienced some amount of dis-savings during the year as members withdrew funds for Pushing you Beyond All Limits! 32 JPS & Partners Co-operative Credit Union
Treasurer’s Report Continued PEARLS RATIO ANALYSIS PEARLS Ratios Standard 2017 2016 2015 2014 2013 % % % % % % Net Loans /Total Assets 60-80 62.81 59.49 55.98 53.25 51.45 Savings Deposits/Total Assets 70-80 75.95 76.00 75.83 76.06 76.58 Institutional Capital/Total Assets (C) >=10 15.91 16.37 16.22 16.11 15.62 Total Delinquency/Gross Loans Portfolio
Page 2 and 3: Our Vision To be our members’ pre
Page 4 and 5: Table of Contents NOTICE OF MEETING
Page 6 and 7: Progress Report 2008-2017 YEARS MEM
Page 8 and 9: Minutes of the 62nd AGM (Continued)
Page 10 and 11: Minutes of the 62nd AGM Continued B
Page 20 and 21: Pictorial Highlights Scholarship Lu
Page 22 and 23: Our Directors Alicia Burnett Assist
Page 24 and 25: Board of Directors Report (Continue
Page 32 and 33: Treasurer’s Report I take pleasur
Page 36 and 37: Treasurer’s Report Continued 5 YE
Page 38 and 39: Treasurer’s Report Continued What
Page 40 and 41: Our Team Members : Half-Way Tree Ro
Page 42 and 43: Our Team Members : Ewarton Janet Ru
Page 44 and 45: Meet Our Location Representatives (
Page 46: Financial Statements as at December
Page 52 and 53: Statement of Comprehensive Income F
Page 54 and 55: Statement of Changes in Equity For
Page 56 and 57: Statement of Changes in Equity For
Page 58 and 59: Statement of Cash Flows For the yea
Page 60 and 61: Notes to the Financial Statements F
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Notes to the Financial Statements F
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Supervisory Committee Report Corine
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Credit Committee Report Diedre Codn
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League Delegates Report Natalie Spa
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League Delegates Report (Continued)
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Nominating Committee Report (Contin
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Notes Pushing you Beyond All Limits
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Editorial Team: Joydene Jarrett, Na
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JPS & Partners 2017 Annual Report

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