Central Credit Union

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Message from our President/CEO

David A. L'Ecuyer, President/CEO



Dear Members;

Your Credit Union has completed another very successful year.

Financially, Central One FCU finished 2014 with extremely strong numbers.

With assets now exceeding $400 million, the Credit Union grew its loan portfolio almost 10% (9.29%) through 12/31/2014. The bulk of this growth was in both Member Business Loans as well as auto lending. Additionally, the Credit Union was able to grow its Share draft or checking accounts considerably with an increase of $8.3 million during the calendar year. This account growth is crucial to the overall increase in member participation with the Credit Union as this core account drives growth in other product areas.

The Credit Union finished the year with a loan to share ratio of just under 100% (99.32%). This means that virtually every dollar deposited with the Credit Union is then lent back out to the membership. This is a strategic goal set each year by the Board of Directors.

The success of the Credit Union during 2014 with a Return on Assets of 0.78%, resulted in a growth in net worth ratio from 8.77% (12/31/2013) to 9.16% (12/31/2014). This illustrates an increase in safety and soundness for your Credit Union and exceeds the standard of 7% considered to be “Well Capitalized” by our regulator, NCUA.

While your Credit Union either met or exceeded most of its goals for 2014, it was also able to complete an extensive level of projects during the year to help make the Credit Union more efficient and improve the overall member experience.

Additionally, the Credit Union has seen great growth in the number of users of its Mobile Banking and Mobile Deposit services. Currently the level of participation in these two relatively new services exceeds most other Credit Unions in our peer group.

The quality of our loan portfolio remains very strong with both delinquent loans and actual loan losses well below peer averages.

In summary, your Credit Union is extremely healthy and its member satisfaction rating of approximately 98% illustrates that the member experiences remains strong as well.

I wish to thank our staff for their hard work and dedication.

As well as the Board of Directors and Committee members for their leadership and commitment, and the 30,000 members who do their business with us, I wish to thank them for their support and participation.

David L’Ecuyer




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