Page 10 - 2020 CU Solutions Group Annual Shareholder Report

TREASURER’S REPORT, DAVID SNODGRASS

Our unique position in the credit union space, along with revenue-generating
investments and a strong performance of the stock market, contributed to
a steady year for CU Solutions Group in 2019.

I’m pleased to report that CU Solutions Group posted another encouraging
performance for 2019. A net income of $5.2 million in 2019 led to a dividend
payout of $2.4 million to shareholders, which was the company’s ninth consec-
utive year for paying dividends.
Additional year-end highlights include:
• 2019 revenue totaled $49 million, $5.1 million over 2018
• Total shareholder equity grew to $5.3 million, or $475 per share
• Assets totaled $96 million and included $55.1 million in cash and
marketable securities
• CU Solutions Group paid more than $6 million to leagues and credit unions
®
for Love My Credit Union Rewards sales and marketing efforts
As we transition into 2020 and face the year’s unique challenges, executive
management continues to strategize ways to maintain a resilient balance sheet.
Respectfully,

David Snodgrass
Secretary/Treasurer, CU Solutions Group