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Highlights from 2019 Annual Report

Arsenal News
Highlights from 2019 Annual Report

A look back at the previous year and the strides we made during it were presented at our 2020 Annual Membership Meeting held virtually on Nov. 9. Achievements from the current year will be shared at our 2021 Annual Meeting in April.

The following were among the highlights shared in video format by Arsenal Credit Union Board Chairman Gary Dierks, President/CEO Linda Allen and Supervisory Committee Chairman Bob Killion:

  • 22 fees quietly eliminated
  • New survey platform measuring member’s experience in all touchpoints (in person, over the phone, and digital channels) used to establish a benchmark for 2020
  • Centralized lending team implemented to improve the experience for members by removing barriers and reducing friction in the application and underwriting process
  • Strong loan growth of 9.33%
  • Record # of new members (4,144) for us
  • Big net gain in membership: 5.77%
  • Assets increased by slightly more than $24 million, representing 10.29% growth; ended year with total assets of $258,490,153
  • Strong Net Worth: 10.27%
  • Established our own Charitable Fund to help non-profit organizations within our field of membership
  • Almost 1,300 volunteer service hours given by staff to help local non-profits and other worthy causes