As 2010 begins, the U of I Employees Credit Union is proud to be a safe, strong, secure – and growing – financial service institution. Thanks to our members, and their families, we have navigated through these challenging economic times and have reached out to serve more of our members, continuing to add new members along the way. We are excited to be a viable financial alternative for our existing and new members.
As a not-for-profit, financial service institution, one of our key goals is to invest in our members. This means lending money to our members so that they can manage their financial lives and well-being. We have truly embraced this goal during the past two years, helping our members by providing over $200 million in loans.
Key to our ability to lend to our members has been our success at building and maintaining a strong financial operation and foundation. It is this principle that has allowed us to remain in the position to offer competitive rates for loans and deposits, helping to protect the financial integrity of our members. While many financial institutions have slowed their lending, lowered dividends, raised loan rates, and increased fees and charges … your credit union continues to provide quality financial solutions in the same manner it did at the beginning of the recession. We have not had to adjust our business model, because it is designed around helping our members first.
Over the next several months, the credit union should continue to see successful growth. With over $250 million in assets, we now serve close to 40,000 members – numbers that continue to climb. We are firm in our focus and dedication to serving our members and their families. Over the upcoming years we plan to focus our efforts in key areas that will add to the financial success and growth of our members. These include:
- Strengthen our relationship with the University of Illinois and supporting communities
- Seek and act upon member feedback on how we can improve service and offerings
- Expand accessibility and portability, ensuring our members can take us with them
- Continue financial growth in tandem with strengthening safety and soundness
- Provide employees with the skills that enhance service and build their careers
Working with our Board of Directors and staff, the credit union’s vision is defined as:
“Celebrating Campus & Community Through Quality Financial Service.”
Throughout the coming year, we intend to focus on our vision and how it helps our members, more than ever before. We believe that our not-for-profit status empowers us to reinvest in campus and community in ways that other financial institutions cannot, have not, and will not. We are distinct in our ability to serve.
Again, thank you – our members – for choosing the U of I Employees Credit Union and for the trust you continue to place in us. It is our hope that during these troubling times, we will continue to secure that trust through the provision of consistent and meaningful services.
Sincerely,
E.J. Donaghey
President/CEO
