ADELAIDE, Australia and NORTH VANCOUVER, British Columbia, Canada – Two credit unions, a world apart are reporting record profits. Australian Central Credit Union, which has AUS$2.8 (US$2.06) billion in assets and North Shore Credit Union in Canada, with assets of CND$1.8 (US$1.57) billion have released results. ACCU, which like other Australian credit unions pay taxes on their profits, made AUS$8.81 (US$6.49) million for the first half of their financial year. This is a 36.4% increase in after-tax profit from their AUS$5.72 (US$4.21) million figures for the year before for the same period. However, according to ACCU Managing Director Peter Evers, ACCU did not reach all its profit goals. Its retail loans fell 6.5%, he said. He attributed the short fall to a slowing of the housing market. ACCU has 21 branches located throughout Australia and they are in the final stages in purchasing a wealth-management business; an announcement is expected shortly. ACCU currently has AUS$31 (US$21.8) million in wealth management funds. The credit union has 210,000 members with 21 branches. On the other side of the world, North Shore Credit Union in Canada reported a major profit for their sixth straight year. NSCU said that its assets have doubled between 2000 and 2005. It had an 18% growth rate. The CU operates 18 branches within the region with 300 employees servicing 40,000 members. Net operating income was CND$10 (US$17.35) million According to CEO Chris Catliff, the strong economy and capital investment in its branches have helped the growth of the credit union. NSCU's success is not just monetary. It was a finalist in the YWCA Workplace Innovator Award and American Productivity & Quality Centre selected them as a best-practice partner. NSCU is officially a Caring Company according to the Canadian Centre for Philanthropy.