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Sunrise Credit Union Releases 2019 Annual Report

May 27, 2020

Sunrise Credit Union held its annual general meeting virtually Tuesday night, attended by more than 140 members and staff.

The meeting included the release of Sunrise’s 2019 Annual Report, which included the audited financial statements. In 2019, Sunrise Credit Union reported a Net Income of $5.6 million, Loan Growth of 10.8%, Deposit Growth of 15.9%, and Total Equity of 6.96% of assets. Also, Total Asset Growth allowed Sunrise’s Total Assets to reach $1.32 billion.

Sunrise President and CEO Tim Klassen touched on the Covid-19 health and economic crisis and thanked Sunrise Credit Union members and staff for their ability to weather the unexpected storm.  He went on to mention each staff member receiving an award, thanking them for their service in the credit union system.  Klassen also thanked retiring VP of Branch Operations, Ted Billeck, for his years of service and welcomed Brad Ross to the Sunrise family as the incoming VP of Branch Operations.

Tim thanked Jan McClelland for chairing the Sunrise Credit Union Board of Directors for the past two years and recognized her as the first woman to chair the board.

In her remarks, McClelland acknowledged the contributions of retiring director Lee Adams and thanked him for his dedicated service to the Melita, Virden and Sunrise Credit Union boards.

Chair of the Nominating Committee, Roger Palmer, announced the re-appointment of Jan McClelland, Karen Combs, Daryll Logeot and Fred Greig to the Board of Directors.

About Sunrise Credit Union

Sunrise Credit Union formed in 2008 through the strategic merger of its five legacy Credit Unions - respectively, Virden (est. 1940), Turtle Mountain (est. 1940), Hartney (est. 1942), Tiger Hills (est. 1943) and Cypress River (est. 1960). 30,000 Sunrise members receive personalized service from branches in Baldur, Boissevain, Brandon, Cypress River, Deloraine, Grandview, Hartney, Holland, Laurier, Melita, Oakburn, Reston, Sandy Lake, Shoal Lake, Ste. Rose du lac, Strathclair, Treherne, Virden, and Waskada. At the end of 2019, Sunrise Credit Union had approximately 30,000 members, $1.32 billion in assets and about 220 employees.