The 2023 Annual Report and Audited Financial Statements are now available for members. The Annual Report shares the story of our commitment to our employees, members and communities across Saskatchewan. From our daily financial and wealth services offered to our members, to our innovative ways to help grow businesses and opportunities through Cultivator powered by Conexus and the Conexus Venture Capital Fund, we’re here to champion every member’s success for a thriving Saskatchewan.

Highlights of the 2023 Annual Report and financial statements include:

• A revised strategy that emerged from consultations with employees, members and prospective members, listening to the needs of Saskatchewanians. It reflects our commitment to understanding and meeting the evolving expectations of our members.

• The macro environment presented challenges for our members, with Bank of Canada rates rising and inflation persisting. Financial stress emerged as a top concern for Canadians, prompting us to deepen our support to members, especially those with variable rate mortgages and businesses participating in the Canada Emergency Business Account (CEBA) program.

• Conexus delivered a steady fiscal performance and exhibited a strong regulatory risk-weighted capital position of 16.57% and asset growth of 1.97%.

• The loan growth portfolio expanded by 7.72% while the deposit portfolio experienced growth by 0.64%.

Beyond our financial performance, the Conexus story continues with additional highlights for our communities and members including:

• Supporting 20 initiatives with a total contribution of $1.7 million, with a focus on multi-year partnerships that allows us to build long lasting relationships and create a bigger impact in key areas.

• Launching a new digital banking platform and website to modernize the digital banking experience, though not without challenges, now serves as the foundation for future innovations.

•Introducing new products and services to members including the debit Mastercard and the First Home Savings Account.

Want to get more involved in your credit union? Conexus members can register to attend the Conexus Annual General Meeting (AGM) held virtually on Tuesday, April 9, where results of the director election will be announced.

To view the 2023 Annual Report and financial statements, click here.