A Note from Dan - Spring 2017

Thank you for helping 2016 to be another successful year at the Credit Union. While living out our mandate of “People Helping People”, including those of lesser means, we were able to achieve financial success, while helping to improve the lives of our members, our team, and our communities.

Here are some of the SCE FCU financial highlights of 2016:

  • Assets of $651 million by year end and net income of $3.2 million
  • $145.1 million in funded loans
  • $80.5 million in Member Business Loans, an increase of $14.3 million over 2015
  • Delinquency ratio of .76% and loan loss ratio of .51%
  • 10.1% of assets in reserve, considered by our regulators to be a very healthy figure

Financial education success in our local communities included:

  • 72 financial literacy workshops, providing financial education to more than 2,300 high school students and community residents
  • 7 Mad City Money learning events with 750 teen participants
  • Financial education resources for 13 high schools and 7 social service agencies in financially distressed communities

Other ways we celebrated success:

  • Relationship with Citibank, allowing our members to use Citibank branch ATMs at no charge, further expanding our 30,000+ surcharge-free ATM network
  • Partnership with Enterprise Car Sales to offer our members a variety of quality affordable used cars – complementing our CU at the Wheel auto buying concierge service for new car purchases, which was already a member favorite
  • Website redesign with clean, modern navigation and intuitive options
  • New, robust online banking platform to deliver a rich banking experience for members across desktop and mobile platforms
  • Events benefiting our local communities in both Southern California and Southern Nevada – turkey giveaways, birthday celebrations for low-income families, school supplies for back to school nights, Christmas toy giveaways, and much, much more

We never measure our success only in financial terms. We look also at whether we provided substantial benefit to our members, our community, and our team. In addition to achieving financial success, we’re pleased to report that 2016 was successful year overall. Immense thanks to our members – as owners of the Credit Union – for supporting our efforts and allowing us to partner in your success.

Sincerely,

Dan Rader
President/CEO