2017 marked significant growth for GSCU with total assets increasing to $391 million and membership climbing to more than 36,000 individuals, families and small businesses. Deposits also increased by nearly $15 million with more members using the credit union as their primary financial institution for both savings and checking accounts.

Net loan balances increased by more than $20 million from the previous year. One reason was the proactive stance GSCU took in helping members with less than perfect credit. We know that with each less than perfect credit score, there is a real person who may have fallen upon tough times. We’re listening to these members stories – and from there determining how we can work together to improve their financial well-being. Our “Dreams Thrive Here” Credit Union Day celebration included a forum for members to share their life changing GSCU experience. Hundreds of entries detailed these personal stories of how the credit union not only funded their loan, but helped to rebuild their credit and serve as a financial partner during those tough times.

Members continue to turn to us to realize their dreams of home ownership, as well as to fund their home improvements. With our new Mobile Mortgage application, members can apply online in minutes. Members also take advantage of our equity products to fund renovations that can turn their existing home into the remodeled house that fits their growing needs. By the end of 2017, mortgage and equity loans totaled more than $130 million of our $318 million in loans. We thank our members for their ongoing support of our lending services and invite members to recommend us to a friend or family member!

The year also saw an increase in point-of-sale data breaches at many well known merchants. While merchants are ultimately responsible for safeguarding the security of their patron’s sensitive information, the credit union has protection tools in place to limit the impact of fraudulent activity. From Mobile Wallet Solutions to CardValet which allow members to set card controls, members are strongly encouraged to take advantage of the free security tools we offer. Combating fraud is a priority of the credit union. One easy way to help is to ensure that your contact information including your email and primary phone number are up-to-date. This allows us to alert you instantly via email or coming soon, via text, should there be any potential issues impacting your accounts.

Earnings were strong in 2017 with the capital ratio growing to 8.08%. This rating continues our tradition of being categorized as “well capitalized” which is considered the highest category for credit union safety and soundness.

While members find our 8 full-service branches convenient to use, 24-hour account access and assistance is also critical. In 2017 we enhanced convenience by offering electronic loan closings, as well as 24-hour Member Service Representatives in our call center and Live Chat on our website!

2018 will be another exciting year as the credit union continues to offer members the services designed to make managing finances and saving money easier. Thank you for your continued support and membership. We truly value the patronage of our members and look forward to serving you, your friends and family in the future.