The Dunedin-based credit union, which covers all of the South Island, reported an operating profit of $279,000 for the year, up more than double on the $132,000 reported in the previous corresponding period.
Total revenue rose $631,000 to $17.6 million. Total assets grew to $112.9 million from $108 million and member funds increased to $19.9 million from $18.6 million. Operating cash flow at balance date was $1.2 million.
The profit was well below the $407,000 reported in 2012 and the $851,000 reported in 2011.
Ms Dickie said in an interview the strategy was always to increase the loan book, with a particular focus on Christchurch.
NZCU South doubled its loan book in the earthquake-damaged city although it did spend much of its marketing budget in Christchurch.
Credit unions were usually underrepresented in major metropolitan cities and Christchurch was no exception.
However, the people moving to Christchurch for the rebuild were the target market for the credit union, which had worked closely with contractors to help their staff meet their financial aims.
Also, one of the big gains was working with the Filipino community brought to Christchurch to help with the worker shortage, Ms Dickie said.
NZCU South already had a relationship with the community from working with Filipinos brought to Winton, and later throughout Southland, to work on dairy farms.
A liaison group manager was established to work with Filipino workers in Christchurch, helping them refinance the loans they took out at home to pay their way to Christchurch for work, she said.
Reviewing the financial results, Ms Dickie said the strategy of retaining existing member loans and extending lending to new members had been successful with a 15% increase in personal loans and the loan book up near the levels seen in 2009 after a significant fall from 2010-13.
The commitment to the core purpose of savings was again evident through expanding the Fisher Funds KiwiSaver scheme. NZCU South remained the largest credit union scheme in New Zealand with 4338 members, up 21% on the previous year, and ended with $36.9 million of funds under management, up 41% from the previous year.
One of her aims this coming financial year was to work with members to provide more opportunities for home loans, Ms Dickie said.
''We lose good members to trading banks when they go there for a mortgage and the bank insists on all pay going to the bank. We need to be sure we take the opportunity to find better ways to retain and attract more members.''
One of the benefits of being with the credit union was the $864,000 paid out in loyalty rebates to members during the year. The loyalty rebates rewarded members for their deposits, term loans and other support through the year, she said.
Another successful product was the funeral fund ''Credicare'' with membership up 21% at 3917 at balance date.
Twenty payments totalling $200,000 had been paid out over the past 12 months. As a result of a member request, the joining age had been increased five years to 65.
Technology would continue to play a large role in the expansion of NZCU South with members among the fastest adopters of new technology in the credit union movement, Ms Dickie said.
