Page 2 - CU Solutions Group Annual Shareholder Report
P. 2


                              This annual shareholder report gives us an important
                               opportunity for accountability and transparency with our
                               investors, comprised of the Michigan Credit Union League,
                               leagues and credit union service organizations, and credit
                               unions across the country.

                               As  reflected  in   CUSG’s operating expenses were down 4
                               the 2021 audited   percent, and the company achieved net
                               financial  state-  operating income of $3.6 million, up 140
                               ments  and  the   percent  from  $1.5  million  in  2020.
        Treasurer’s Report, CU Solutions Group   Additionally,  $7.6  million  in  investment
        (CUSG) finished 2021 with strong earnings   income  from  both  public  and  private
        and a record-level shareholder dividend of   investments  brought  EBITDA  to  $11.2
        $3.4 million. This included revenue growth   million for the year, up 11 percent from
        of 4 percent and EBITDA growth of 11  2020.
        percent. Net income of $6.7 million was up
        57 percent from 2020, and the shareholder   In 2021, CUSG achieved investment returns
        dividend of $3.4 million was also up 57  of 14.7 percent on its $43 million in public
        percent from 2020.                     investments. This included an even mix of
                                               stocks and bonds and a 7.7 percent return
        Many important success drivers shaped   on the $26 million in private investments.
        these numbers — the greatest of which was   The  entire  investment  portfolio  of  $69
        the  continued  growth  and  success  of   million earned a blended annual return of
        CUSG’s HR Performance Solutions (HRPS)  12.1 percent. Altogether, these are not bad
        division. HRPS posted revenue of $11.7   returns considering the incredibly low-rate
        million, up 22 percent from 2020. CUSG’s   environment we operate in.
        Strategic Advisory Solutions had attractive
        gains with total revenues of $889,000, up   CUSG’s strong balance sheet, operational
        22 percent. All divisions performed well, but   efficiencies, investments in future income
        these  two  divisions  were  our  standout   streams, and over $40 million in investable
        growth areas.                          funds  position  the  company  well  for

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