It’s funny. What once took 10 years, now zips by in a year or less. And while I freely admit this pace of change is exciting and daunting, we’re ready!
On this topic—last year was one of steady progress and planning and I wanted to share a few highlights.
2019 saw our continued focus on security. Behind the scenes, our fraud mitigation & recovery team worked tirelessly. Typical of their efforts? After a member wired a large sum to another bank—sensing something wasn’t right a manager did some quick investigating. They found the member had been tricked, and in virtually real-time recovered the quote-unquote “lost” $20,000, with help from the other bank.
Security takes other guises too, like financial security during hard times. That’s why we introduced a new savings account last year, appropriately named Rainy Day Savings, to help members weather an emergency or a tough patch. It offers exceptional rates of return, and has been tremendously well received by members!
In 2019 we also strengthened an already solid balance sheet and added to our asset base. This financial strength is one big reason we’ve been such a safe home for your money for over 80 years. And a big part of why we’re rated, consistently, as one of the nation’s financially strongest Credit Unions of our size.
Looking ahead—over the next few months we’re making an administrative move, relocating our home-office to two new, split locations—Burbank and Torrance. This will allow staff shorter commuting options, helping us retain and attract the best people and continue offering you the very best service and guidance.
There’s a lot more to come, of course, but I was told not to spoil the surprises. Partial spoiler alert—members will be getting even better rewarded in 2020. Stay tuned.
Last but not least – 2019 was the final year of service of our board chairman, Scott Lindquist. He’s been a source of wise counsel for many years, and has more than earned a rest from his phenomenal work on our board. Thank you Scott for your great service! And a warm welcome to his successor and our new chair, Linda Sanazaro. Linda, we wish you all the best in your new role!
Laura Campbell President & CEO