Sunrise Credit Union releases annual report, records net income of $10.1 million

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Sunrise Credit Union held its annual general meeting virtually on April 23, 2024, attended
by 133 members and staff combined with 13 guests.

The meeting included releasing the Sunrise Credit Union 2023 Annual Report, which
included the audited financial statements. The statements reflect a Net Income of $10.1
million, Loan Growth of 2.40%, Deposit Growth of 5.04%, and Total Equity of 6.94%.

“Our focus has always been on delivering exceptional service to our members,” said Sunrise
President and CEO Tim Klassen, “I am proud to say that we have continued to uphold this
commitment. Throughout the year, we have introduced new products and services tailored
to meet the evolving needs of our members.

Klassen reviewed some of the highlights for 2023, which marked the 15th anniversary for
Sunrise Credit Union, including supporting many community projects, sponsorships, and
events financially and through staff volunteerism. The 15th anniversary celebrations
included a $15,000 giveaway won by Cameron Schettler of Grandview, Manitoba in
October, and 20 separate $1,500 donations to local food banks for a total of $30,000 during
the holiday season. Another highlight of 2023 was the introduction of the Building
Communities Grant Program. Fifty-eight applications were received and the Elkhorn Ice
Plant Replacement, Shoal Lake Aeration Project and the Holland Outdoor Arena were
selected to received $15,000 each toward their project.

Agnes Kokke, Chair of the Sunrise Credit Union Board of Directors, spoke of Sunrise’s 15th
anniversary celebrations. Kokke noted that Sunrise has grown from its humble beginnings
to an almost $2 billion Credit Union during that time, crediting their valued members for
their continued success.

“Despite stubborn inflation and interest rates not easing, Sunrise Credit Union has had
another successful year, as noted in the financial statement.” Said Kokke, “This success is
only possible because of the tireless dedication of the entire team at Sunrise Credit Union.

From the frontline staff, executive staff, executive assistant to President & CEO, we
commend you for your hard work, community spirit and volunteer work.”
Chair of the Nominating Committee, Darryl Logeot, welcomed Carissa Caruk-Ganczar and
announced Agness Kokke, Doug Van Damme, and Scott Thompson as re-appointees to the
Board of Directors.