As we say farewell to 2019 and the second decade of the millennium, I would like to take a moment to reflect on all that our financial cooperative accomplished together in 2019. The University Credit Union (UCU) team saw another year of record growth in 2019. The record growth was earned by staying true to our roots, providing unbiased and conflict free financial advice and coaching for our member-owners. UCU became an industry trailblazer in 2019, setting records for loan, asset, membership growth, university giveback, and financial savings to you, our member-owner.
Loan Growth – UCU was able to provide a record number of loans to our members last year. We believe the market is an unsympathetic judge of success and our success is directly related to the value we provide our member-owners. UCU was able to have this significant growth through our Best Rates Guarantee. Our members saved time and money by trusting their financial cooperative, knowing UCU has their best interest in mind and can deliver the best rates possible.
New Members - Through our expanded university partnerships and strategic acquisition, we were able to provide a financial edge in life to a record number of new members. We exist to provide the best products and services to our members in order to obtain a better financial life. We strive to provide peace of mind, easing members’ concerns through our affordable and responsible products and services.
Asset Growth – By developing a high interest checking account to meet the needs of our members, our members were able to earn more for the banking they already do.
Community Involvement/University Giveback – In 2019 UCU also participated in and sponsored a record number of events and causes within our university communities. Supporting the communities, we serve is at the core of everything we do. We supported various on-campus food pantries, contributed our largest donation to date from our annual toy and book drive to UCLA Mattel Children’s Hospital, continued to support our student members with our annual scholarship contest, created new scholarships, hosted monthly financial education workshops, and participated in university sponsored charitable walks and activities.
Financial Saving for Member-Owners – UCU saved our member-owners over $17 million in 2019. The total savings is up more than 54% from prior years’ record. Our average member saved $489, with our most engaged members savings $3,562. Our team is proud of the results from the hard work and dedication in serving you.
As we approach our 69th year serving our members-owners, I would like to thank you for your continued membership. Your trust and support of creating a better financial institution builds on the legacy of our founding members, who sought that very objective in 1951. I look forward to making 2020 another successful year!
David L. Tuyo II, DBA