Message to the Membership

2018 was another excellent year for First U.S. and our membership. We’re pleased to report that we remain safe and sound, well capitalized and a preferred alternative to big banks. For over 80 years, as a not-for-profit financial institution, we’ve been dedicated to bringing you more value that will enhance your life, and we strive to remain “Big Enough to Serve, Small Enough to Care”.

While 2018 was another big year for making loans to members, it also brought some higher rates on savings as the economy improved. We made more than 2,700 loans to members totaling almost $90 million and ranging from VISAs to First Mortgages and Business Loans. We also welcomed over 3,200 new members, consumers and businesses. Due to relatively low rates we were able to save members thousands on loans of all kinds, making life more affordable. We established over 1,700 new checking relationships and saved members thousands in fees. Although savings rates remain low, we offer some of the best rates available, particularly on Certificate Specials and our exclusive Metal Money Markets.

Important 2018 projects reflected our continued commitment to providing help to members in need. We offered unsurpassed support to federal members affected by the federal furloughs by providing 0% loans for delayed pay and loan extensions. We were one of the few, perhaps the only financial institution, that provided this level of assistance and allowed new federal employees to take advantage of these programs. We also stepped up to help members affected by the Camp Fire. During the year we made more updates to our website, improved mobile banking and enhanced cybersecurity, making transactions more convenient, efficient and secure. Whether visiting a branch, logging on to Home Banking, calling our Phone Center or using our Mobile Banking app, we’re here for you with the technology you need, making it easier for you to get things done. In partnership with energy companies across the state, we launched our new Residential Energy Efficiency Loan (REEL) program, making a difference for members by helping improve energy efficiency and reducing energy expenses with lowcost loans for upgrades like new windows, energy-smart appliances and heating/cooling systems. We also introduced a very popular new member car buying concierge service that takes the pain out of buying or leasing a new or used vehicle and, as usual, you can be approved on the spot.

In 2019, we have a number of projects planned to provide an enhanced member experience, new ways to reduce the cost of your debt and increase the yield on your savings. We advocate for regular savings at any level to ensure that all of our members have the safety net that savings provides for unexpected emergencies. Regular savings by payroll transfer or automatic deposit is a painless way to Pay Yourself First. As we grow together, we are able to gain efficiencies so that we keep credit union costs low and, every year, we also look for ways to expand our involvement in the communities we serve.

As a cooperative, we vow to continue to put you first, and we thank you for your patronage. Because your satisfaction is our number one priority, we pledge to bring you more value, and as always, we strive to deliver it with the personal service you deserve. On behalf of the entire First U.S. team of volunteers and staff, thank you for your business.