2021 was another year characterized by both COVID-19 challenges and business opportunities. Together, we embraced new routines and further built out our digital capabilities.
We appreciate your unwavering trust in us as we navigated the ongoing pandemic issues, health orders, vaccine mandates, and remote contact with both our clients and staff. The need for effective connection was greater than ever. Whether serving you virtually, in-branch, or by phone, relationships with clients deepened as our employees went above and beyond to provide advice and support.
We supported clients that experienced short term credit issues brought about by the pandemic, which was appreciated by them. We ended the year with only 0.24% of loans with payment delinquency over 90 days which is a normal level.
Advancing our digital strategy to respond to the evolving times remained a priority. Our newly designed website provides an enhanced online experience and the introduction of our Digital Concierge chatbot allows you to chat with us on our website 24/7. We also celebrated 80 years as a credit union, and through donations and sponsorships, contributed to over 70 organizations supporting meaningful causes in our communities.
Our financial performance reached new heights in 2021. Our Assets under Administration grew 6% to reach $6.9 billion, which included an impressive growth of 25% in Wealth Management Assets to reach $1.7 billion. In addition, we achieved record profits (Net Operating Income) of $42 million.
Not only did BlueShore achieve outstanding financial results, we were also recognized as one of “Canada’s Most Admired Corporate Cultures” by Waterstone Human Capital for the fourth time, earning us a spot in their Hall of Fame. We continued to earn top marks from our clients for our exceptional client experience and service. Our 2021 client survey results, conducted by Ipsos, confirmed that we’re making a positive impact on our clients’ financial well-being and are recognized as expert providers of financial advice.
While we know 2022 will likely hold its own set of challenges, we look ahead with optimism, and are prepared to help you build the future you want with the right financial advice. Thank you for trusting us as your financial partner for today and tomorrow.
Sincerely,
| Chris Catliff | Peter Leitch |
| President and CEO | Chair, Board of Directors |