A message from our Chair
The Board of Directors is delighted to report that 2022 was a year that saw many accomplishments. The hard work of all our employees paid off and we were able to hit many milestones for our members.
We were true to our mission statement of making our members’ financial lives better by improving our delivery channels. Members can communicate with us in any way they prefer – online, in-person, secure messaging, chat, video, and more. Our members showed their support by utilizing their credit union’s products and services, so much so that we hit a historic loan to share ratio of over 70% (meaning that over 70% of our members’ deposits were loaned out). This contributed to shoring up our net worth and enabling the credit union to make over $6 million in net income.
WPCCU will use that income to further improve our systems for our members’ benefit. We will continue to improve our employees’ work life experience by further enriching our training and benefits programs. This directly impacts our member experience. On deck for 2023, we will launch our Voice of Member Project. This program is designed to survey our members to help ensure that the changes we have made are, in fact, bettering our service levels. Your feedback is always welcome and appreciated.
Your credit union continued to follow one of the guiding principles of all financial cooperatives: our concern for the community. An example of the many things we accomplished was securing much-needed grant funds for a disadvantaged middle school girls’ educational program. This program is designed to show the girls that they, too, can succeed in any one of the science, technology, engineering and math fields (STEM.)
I would be remiss if I did not mention our gratitude to our core sponsor group, The Department of Water and Power. The support from the employees who are members of WPCCU translates into making us a strong, thriving organization.
In closing, on behalf of the Board of Directors, I want to acknowledge and thank our entire staff for their dedication to serving our members. I also want to extend a heartfelt thanks to our members for their unwavering support.
Chair, Board of Directors