Financial Highlights

Reflecting our commitment to members

We demonstrated strong financial performance in 2018, driven by an exceptional increase in profit, prudently controlled expenses and favourable liquidity and capital positions. Our success reflects our passion for keeping members at the centre of everything we do, through innovative and relevant financial products and remarkable advice and service.

$57.9 million
Profit for the year after tax increased by 37.3%, or $15.7 million

$10.3 billion

Assets increased 4.2%, or $413.3 million

$9.0 billion

Deposits from members increased by 2.8%, or $245.7 million

$8.6 billion

Loans to members increased by 4.3%, or $356.0 million

“First West’s consistent, successful financial performance year after year speaks to the investment that every employee makes to create real value for our members and communities.”

Thomas Webster, CFO

$71.0 million
Income before tax increased 35.9%, or $18.7 million

$3.0 million

Invested in building healthier communities through our community giving activities, bringing our total to $22.6 million since 2010

$1.2 million

In dividends paid to members, totaling $11.6 million since 2010

1,502 new members

Membership grew by 0.7%, bringing our total net new members to nearly 55,000 since the inception of First West in 2010

Performance Indicators

Membership Growth