City Coast Credit Union is budgeting for a profit turnaround of about $1 million in the June 2003 half.
The information memorandum shows that CCCU made a net loss of $303,000 in the half year to December 2002, and is budgeting for a net profit of $602,000 in the full year to June 2003.
CCCU made a net profit of $594,000 in the year to June 2003. Chief executive Stephen Mayers and chairman Barry Wood did not return calls.
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