Another leading credit union is reporting a strong financial year.
AffinityPlus Credit Union Limited, which held its 42nd annual general meeting on Saturday, said the 2025/2026 financial year which ended March 31 was one of growth.
Dalton Medford, who served as president during the year, said the financial cooperative “recorded yet another strong year-end performance with a net surplus of $2.7 million”.
“Our capital adequacy remains well above the regulatory benchmark, and liquidity also stands at 13.22 per cent,” he stated in the 2026 annual report.
The board report, also shared in that publication, said the 2025/2026 financial year “reflects a period of steady, [and] intentional progress for AffinityPlus, where growth has been guided not only by strategy, but by purpose, structure, and disciplined execution”.
“AffinityPlus achieved another strong financial performance during the year, surpassing $293 million in total assets,” the board reported.
“The loan portfolio grew by 12 per cent to $217 million, while deposits increased by 13 per cent to $261 million, reflecting continued confidence in the credit union among members and the wider public.
“The organisation also recorded a net surplus of $2.7 million, exceeding projected performance for the year. These results underscore the credit union’s continued ability to generate sustainable growth, maintain financial stability, and strengthen its overall position for the future.”
The board report mentioned “exceptional deposit growth during the financial year, resulting in total growth of $29.1 million, significantly exceeding projections”, and also highlighted “outstanding loan portfolio performance”.
“Total loan approvals reached $67.78 million during the financial year, reflecting strong growth across key lending portfolios,” the report said.
The credit union’s member also expanded.
“Membership grew to 36 165 members during the financial year, representing growth of 7.68 per cent and exceeding annual targets,” the board said.
In his message in the annual report, Medford said the cooperative’s delinquency rate “is among the lowest in the industry – a direct result of you, the members, honouring your commitments so that your brothers and sisters can have the same opportunity to borrow as you did”.
“It is this action that shows what the cooperative spirit is all about. Let me also thank the team in the Collections Department who at times remind members when necessary to repay their loans,” he said.
“Our loan portfolio continues to grow, and we are actively rebalancing it to position the credit union for the years ahead.”
Medford encouraged members who “may from time to time have challenges repaying their loans to reach out to the office as soon as possible. While we cannot remove the obligation, we can find an arrangement to assist you in repaying your loans”.
The cost of technology, he said, continued to be a challenge but “we remain committed to equipping the institution responsibly and within
our means”.
Medford said: “This year has seen the purchasing of software for the internal audit department, to improve the management of the auditing process. Likewise, we have invested in software for the human resources department, and we are actively evaluating options for the loans department.” (SC)