UNI credit union 'fortunate' after difficult year, says CEO

Despite a rough year and some negative numbers, the CEO of the UNI Financial Cooperation said the credit union is strong.

In itsyearly report, the Caraquet-based company recorded a $3.7 million deficit.

At a news conference on Friday, UNI also said it had lost 4,000 members and $70 million in deposits, but with new clients the net loss was only 2,800.

The numbers come after technical issues plaguedefforts to transfer their digital banking platform in-house from Desjardins Grouplast year.

The resultingdisruption left clients with debit cards that wouldn't work and paychequesnot showing up in accounts.

Still, CEO Camille Thriault said it could havebeen worse.

"We're quite fortunate that's the results that we got," said Thriault.

He said while no financial institution wants to see a deficit, the financials of UNI are strong.

"When we look at the last 10 years, where there was $200 million in profit, and this year there's $3.7 deficit, I still say UNI is in great shape," said Thriault.

While UNI says it lost 4,000 members, Thriault told Radio-Canada last year the financial institution saw 8,100 accounts closed.

Thriault said the discrepancy is because many people have more than one account, and looking at members instead of accounts shows a more accurate picture of the credit union.

UNI mum on court case

Thriault became the CEO last year for a second time, after then-CEO Robert Moreau was forced from the company after the mishandled online banking system transfer.

Late last year,Moreau started legal proceedings against UNI, alleging wrongful dismissal.

Thriaultsaid he did not know how much the legal fight against the former CEO has cost UNI so far and refused to comment on the legal proceedings.

The credit union is holding itsannual general meeting in Moncton on Saturday.