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Credit Unions’ Financial Performance in Grenada

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The Grenada Authority for the Regulation of Financial Institutions has released a report on the financial performance of credit unions from 2016 to 2020. Here are some key highlights and trends.

Financial Highlights

Key Indicators

• Total Assets: Increased from $669,959,178 in 2016 to $1,098,958,884 in 2020.
• Total Loans:
  • Peaked at $879,182,049 in 2018 but decreased slightly to $774,771,195 in 2019 and remained the same in 2020.
• Total Deposits: Increased from $669,959,178 in 2016 to $1,014,092,054 in 2020.

Income Statement

The credit union sector realized a net surplus of $15.4 million in 2020, representing an increase of $1.5 million compared to the previous year’s net surplus of $13.9 million.

Breakdown of Total Assets (2020)

Asset Distribution

• Current assets: $123,111,911
• Non-current assets: $975,846,973

Breakdown of Total Liabilities and Capital (2020)

Liability and Capital Distribution

• Total liabilities: $1,012,459,909
• Total capital: $86,498,975