CEO Message for 2022

Posted on January 5, 2022
WPCCU CEO Barry Roach

Dear WPCCU Members:

During the last 18 months the one thing we could count on is change and that plans don’t always turn out as anticipated. We were confident this would be the year we capitalized on the technological advancements made during COVID and normalize to the way we did business pre-pandemic. Well, I think I can safely say—I was half right! We have capitalized on the technological advancements, but things haven’t exactly gone back to the normal we were expecting. Our members are still wearing masks when they come to see us and we still have to curtail activities that are designed to physically bring us together. I am not going to try to predict the future—again.

I want to thank you for your amazing support during this time. We are utterly humbled by your faith in us, exemplified by receiving $100 million more of your deposits. Thank you for trusting us.

WPCCU is now very close to becoming a billion dollar credit union! And, when you consider we started out with a couple of hundred dollars in 1936, this is a huge accomplishment.

During 2021, we further adapted our business processes to create the best possible experience for our members. We continued to invest in technology to further efficiency and productivity. We have created what we refer to as our “Virtual Branch” where members can apply for loans and non-members can become members, all from the comfort and safety of their home. We have made enhancements to our digital banking platform, including financial wellness tools we are very proud of.

Credit unions are cooperatives and are governed by guiding principles designed to shepherd our members throughout the good times and the challenging times. Two of these have been extremely pivotal during this time. They are: a Concern for Community and, the newly added 8th principle; Diversity, Equity and Inclusion.

The concern for the community is what helped us decide what to do when faced with the reality of having to cancel, for the second time, our most beloved event, our member appreciation luncheon and animal rescue. This decision was difficult because we wanted to make the 2021 event very special in celebration of WPCCU turning 85 years old. We knew for the safety of members and staff, we could not encourage them to physically come together in celebration. So, we held virtual celebrations (raffles, photo contests) and took the funds set aside for the event, and gave them to charities that truly help our community. These charities included: Children’s Hospital Los Angeles, Los Angeles Cleantech Incubator and other charities whose mission aligned with our mission of financial education, and helping those disadvantaged people in Los Angeles County.

For the Diversity, Equity and Inclusion aspect, we made a donation to the AACUC (African American Credit Union Coalition) whose mission is, “to increase diversity within the credit union community through advocacy and professional development.”

We do have some exciting news for you. People who live, work, worship or go to school in San Bernardino County can now become members of WPCCU. We are proud to be able to bring “Human-Centered Banking” to San Bernardino while maintaining the same personalized level of service our Los Angeles County members receive.

In closing, I want you to know that you and yours are in our prayers and if you need us—we are here for you. Be well, be safe, be resilient and please, be kind.

 

Cheers,

Barry Roach

President/CEO


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