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Bucking the trends:
2009 in review
The year of 2009 has been a year where we have seen dramatic fluctuations in everything from the price of gasoline, milk, mortgage rates, bailout amounts, the stock market, and even the value of your 401K plan. The unemployment numbers show that a record number of Americans have either lost their job, or have now become defined within a new category called "the under-employed". The confidence of the American people has been shaken this past year by things that we all have previously depended on in times of need.
I am proud to report that despite the unpredictable economic climate, the roller coaster changes of the stock market, the massive "government bailouts" that we see on the evening news, investigations of wrong-doing by companies and individuals, and the regulatory challenges that we as a Credit Union face, Members Credit Union continues to remain a safe, sound, and secure place for you to entrust all of your financial needs.
During this past year, Members Credit Union has experienced
tremendous growth, while maintaining the strong financial position
that affords us the opportunity to serve you. Due to the dramatic
devaluations that Americans experienced on Wall Street, many
of our members chose to revert to the safety of local institutions
on Main Street, so that they could have better access, control,
and direction of their finances. As a result, Members Credit
Union has grown almost $10 Million in assets this past year.
As we anticipate the year of 2010 approaching, we will begin
that journey with our assets pushing over the $50 million
mark for the first time in our 55 year history.
We attribute our success this past year to a dedicated staff that brings a combined 150 years of experience in the financial services industry into our Credit Union. Our Board of Directors has established a conservative and fiscally sound decision-making mentality for our Credit Union and is always looking for ways to bring more value to our members.
I want to say "Thank You" for your support of our Credit Union, and I assure you that we look forward to the challenges that the New Year will bring to us.
Paul T. Elkins
President / CEO
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