Financial Performance

2023 was a strong year in terms of financial performance for StellerVista. Despite some increased costs through our technical merger integration and rebranding – as well as an elevated interest environment in which we were incurring these costs, the credit union continued to earn healthy revenue. This is in part due to the subsidiary lines of business we own, including insurance and wealth management, which continue to be key pieces of our business, allowing us to invest in the systems we need for our people and members.


On the whole, in 2023, credit union earnings were just over $900,000 – of which, more than $650,000 was returned to our members and the community via patronage, dividends, and donations.



Total Assets

Pre-tax Income

Earnings and Margin

While we did see some initial pick-up in our financial margin, through rising rates and active lending taking place, through 2023, we began renewing a lot of GIC and Community Bond investments, which were also offered at much higher rates than we have seen in recent years, which is putting pressure on our financial margin. The competition for deposits is high in our industry, and in keeping adequate liquidity, we first prefer to offer our members higher rates to keep their money with us, as opposed to using external financial tools to raise what is needed.


Regardless of the notable change in cost of liquidity, StellerVista had positive financial performance in 2023.

Operating Margin


Operating Expenses


Net Income


Member Banking

We do expect to see an economic slowing in 2024, throughout our regions, especially in our lending and commercial portfolios, as the sustained elevation of interest rates is something that takes time to set in, in a macroeconomic fashion. That said, as should be economically expected, we hope that any such slowing brings us some relief in the labour market, and the ability to bring our staffing levels up across the organization.


Despite our predictions, and the trends we are seeing, the team remains diligent in its monitoring of both macro and microeconomic conditions – with the agility to pivot as needed in any unexpected change of condition.

Total Member Loans

Total Member Deposits

Retained Earnings

Ultimately, member loyalty is the key driver of local credit union success – so we want to thank all the members who have been patient with us through the transition of 2023, and we can assure everyone, that 2024 is a year of focus on member service. Whatever you need, we are here to help you make it happen.