The Caisses populaires acadiennes successfully overcome the economic disruptions of 2009

April 23, 2010

During its Annual Congress, held in Edmundston this Friday and Saturday, the Mouvement des caisses populaires acadiennes will unveil its 2009 financial statements to its delegates.

At the end of the 2009 fiscal year, the largest Acadian financial institution announced surplus earnings before taxes, dividends and other element of $36 million. The year 2009 was particularly difficult with the worldwide economic crisis, but thanks to the solidarity throughout our network and with constant concern of sound management practices with regard to the assets of our members, the Caisses populaires acadiennes have been successful. "These results show without a doubt the concern of our directors and leaders to make appropriate decisions for the constant protection of our members' assets. The management of the Mouvement's financial assets entrusted to us by the pioneers of the organization is in good hands, and it's certainly reassuring for our members", commented Camille H. Thériault, President and CEO.

The Mouvement des caisses populaires acadiennes has registered an increase in assets, which have reached $2.9 billion, representing an $80 million increase, or 3%, compared to 2008. As for the Fédération des caisses populaires acadiennes, it registered earnings with cumulated surplus before taxes, dividends, returns and financial instruments totalling $3.9 million.

Acadia Life announced profits of $4.5 million, representing a 22% increase compared to the performances of 2008. Acadia Service Centre's financial statements show surplus earnings before taxes totalling $277,087, or $173,534 more than the budgeted amount.

State of savings and loan portfolios

Loans to businesses and public administrations have increased by $11 million, representing a 2% growth compared to last year. Residential mortgage loans have also increased by $24 million, up 2% compared to 2008.  In total, the loan portfolios before allowances for loan impairment for 2009 have grown by $26 million, or 1%.

Adding to these positive results are members' deposits, which stood at $2.4 billion as of December 31, 2009, representing a $71 million increase, or 3%, compared to last year. The only decrease registered was with regard to consumer loans and other personal loans, which have decreased by $8.3 million, or 1%, compared to last year. This decline is associated with consumer caution and efforts to counter the effects of the economic crisis in our network.

Generosity and distinction in our communities

In 2009, the Mouvement remains generous and among the most committed to social, economic and cultural development of the Acadian and French-speaking community throughout the province, with nearly $4.6 million in returns to member-owners and communities across New Brunswick. Members will share nearly $2.8 million in dividends.

More than $1.8 million have been granted in donations, sponsorships and scholarships. "Over 900 non-profit organizations and associations have benefited from support by the Caisses populaires acadiennes in 2009, tangible proof that we haven't forgotten this aspect of cooperation, even in difficult times" says Camille H. Thériault.

About the Mouvement:

The Mouvement des caisses populaires acadiennes was founded in 1946. It is the largest Acadian financial institution in New Brunswick. With global assets at nearly $2.9 billion, this network consists of 25 caisses and 82 business locations in New Brunswick. More than 1,200 employees and 350 elected representatives are the strength of the organization. For more details, visit our Web site at http://www.acadie.com.                                                                       

-30-

For additional information:
Mario Griffin
Communications and Public Relations Consultant
Phone: 506 726-4785
Mobile: 506 724-0078
Fax: 506 726-8220
mario.griffin@acadie.com