As 2018 quickly comes to a close, OCCU begins reflecting on both the accomplishments of this year and the opportunities that await us in 2019. OCCU continues to remain financially strong, safe and sound according to the State (DFI) and Federal (NCUA) regulators. We continue to perform above our peer average in many categories.
Through November, OCCU’s asset size is $398 million and our capital remains very strong at 11.38% (regulators consider a credit union “safe and sound” if they have 7% capital. OCCU is 63% above that standard).
Our community presence continues to be a driving focus for our entire team. During 2018, we amassed over 1,300 hours of volunteer work to over forty different organizations in the markets we serve. The continued dedication of our employees to the communities we serve remains a driving force of OCCU living our “community is in our name” mission. We continue to be strong supporters of our local law enforcement in the communities we serve and many other community-based programs.
The year saw OCCU achieve several milestones. Our Montesano branch celebrated their 10-year anniversary and OCCU’s newest branch, Steamboat Square, completed its first full year in operation. OCCU currently operates 8 branches in 4 different counties in Washington State. In 2019, OCCU will enter into its seventy-eighth year of operation as your financial institution cooperative serving over 30,000 members.
We want to continue to alert and educate our members on the ever-increasing challenges of fraud in the financial marketplace and the importance of first, remaining vigilant in monitoring your accounts and second, keeping personal information protected as much as possible. 2018 has been a big year for “card skimming”. A process where fraudsters use devices to skim your card information at the point of purchase when you insert your card. This could be at gas stations, standalone ATM’s, anywhere card readers could be unattended or monitored. We want to let you know that OCCU utilizes the most current technology in combating the many facets of fraud and will continue to employ the resources needed to remain current in this arena.
OCCU’s positive market presence and progressive growth is the direct result of each of you, our members. Every month 30% to 60% of all new members have learned about OCCU by “word of mouth”. Thank you for talking “OCCU” to your friends and family. For 77 plus years we have been working to make a difference in the communities we serve. This last year was no different, and OCCU has grown over 12% this year.
On behalf of all our employees, our Board of Directors and our Supervisory Committee thank you for choosing OCCU. We know you have choices and we appreciate you choosing OCCU. You have our commitment we will continue to work to deserve your business in the future.
Finally, thank you for giving us the opportunity to serve you. Have a safe and happy New Year!
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