Letter to Members from the CEO

CEO_Davd_tuyo
                 David Tuyo, President & CEO

Happy New Year!

Every New Beginning Starts with an End.

The end of each calendar year reminds us to spend time in reflection, give thanks, and use the outcome of those practices in order to plan for the following year. As we reflect on 2017 at University Credit Union, a common theme amongst the team is that 2017 was a pivotal year with some stating it was a defining year. Your financial cooperative has laid the groundwork for the next five years. This includes a new real estate experience, a new online/mobile banking solution, an upcoming digital experience for membership and loans that will have few rivals, process improvements for expedited loan approvals and disbursements, and greater investments in the University Community to continue our 66-year partnership.

Our new real estate solution includes an entire overhaul of our real estate program and implementing a new infrastructure to allow University Credit Union to be in a better position to serve our member-owners for all of your residential real estate needs. We have launched an unparalleled online experience for application and fulfillment that will provide our member-owners significant cost and time savings.  Our costs will be severely reduced, well below the Mortgage Bankers’ Association averages. This savings will be passed to our member-owners in a variety of ways. We will be rolling out market leading mortgage programs around closing costs and other unique mortgage promotions. In addition, our average loan closing time will decrease by over 30% giving you increased freedom and control when choosing to close. This is just one step in our goal of designing an experience that is relevant, frictionless and effortless.

Our new online and mobile banking solution has been in process for almost a year and went live in December 2017. The solution will provide a modern platform to achieve the aforementioned goal of providing a relevant, frictionless and effortless experience.  Given your feedback, we have upgrades scheduled in early 2018, which includes providing a top 1% mobile application for our member-owners. The mobile/online banking experience will include significant enhancements to our membership and loan application process as well as the speed for decision making and expedited funding. Every action at your financial cooperative is motivated by you, our member-owners.  Our team of highly trained experts is focused on providing the University Community a financial edge. For over 66 years, University Credit Union has been an active partner of the University Community. From the early days, when a group of pioneering and passionate UCLA team members created an alternative to for-profit banks, to now in 2018 where we strive to support almost every area of our University partners’ lives.

University Credit Union is different by design.  We were designed by you, for you, and without the conflicts that plague many other financial institutions. We are a strong, vibrant member-owned cooperative that proudly serves the University Community exclusively! Thank you for your membership, your support, your ideas, and for sharing our story. We wish you a happy and prosperous 2018!

Respectfully yours,

David L. Tuyo II