Chairman's Report for Year 2011
I would like to begin by thanking you, the members of Health Facilities Federal Credit Union, for your continued participation in this fine financial cooperative. It is a privilege and honor to serve as the Chairman of the Board of HFFCU.
The year 2011 was a challenging year for the credit union. Despite ongoing economic challenges, the Board, the Management Team, and the Staff of your credit union worked very hard to achieve a positive net income. Despite the challenges, your credit union had positive earnings because of prudent oversight and management. Member confidence was apparent as we saw growth in deposits for the second year in spite of the necessary and unusual action of limiting deposit growth. The credit union board and staff stayed focused on improving loan quality, providing competitive rates, and ensuring financial stability.
Your credit union remains safe and sound while continuing to expand and offer new services to help our members realize their financial dreams. The cooperative spirit of credit unions began over 100 years ago when U.S. credit unions were first established to give everyday people a place to save and borrow.
As we look ahead to 2012 and beyond, we will continue to be tested and face the challenges that this economy deals to each of us. Yet I am confident that we have in place the strategies, tools, people and systems to continue to deliver our promise to you, our membership.
In closing, I want to thank my fellow board members for their time, commitment and dedication to guiding our credit union on a path of steadiness and soundness. I want to thank our CEO and the staff of the credit union for concluding another solid year while managing all of the challenges we faced. And last, but certainly not least, I thank you our members for entrusting the credit union with your savings and investments and allowing us to partner with you to achieve your financial success.
Sincerely,
Don Wilcox, Chairman
Health Facilities Federal Credit Union
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Chairman of the Board Message
Chairman's Report for Year 2011
I would like to begin by thanking you, the members of Health Facilities Federal Credit Union, for your continued participation in this fine financial cooperative. It is a privilege and honor to serve as the Chairman of the Board of HFFCU.
The year 2011 was a challenging year for the credit union. Despite ongoing economic challenges, the Board, the Management Team, and the Staff of your credit union worked very hard to achieve a positive net income. Despite the challenges, your credit union had positive earnings because of prudent oversight and management. Member confidence was apparent as we saw growth in deposits for the second year in spite of the necessary and unusual action of limiting deposit growth. The credit union board and staff stayed focused on improving loan quality, providing competitive rates, and ensuring financial stability.
Your credit union remains safe and sound while continuing to expand and offer new services to help our members realize their financial dreams. The cooperative spirit of credit unions began over 100 years ago when U.S. credit unions were first established to give everyday people a place to save and borrow.
As we look ahead to 2012 and beyond, we will continue to be tested and face the challenges that this economy deals to each of us. Yet I am confident that we have in place the strategies, tools, people and systems to continue to deliver our promise to you, our membership.
In closing, I want to thank my fellow board members for their time, commitment and dedication to guiding our credit union on a path of steadiness and soundness. I want to thank our CEO and the staff of the credit union for concluding another solid year while managing all of the challenges we faced. And last, but certainly not least, I thank you our members for entrusting the credit union with your savings and investments and allowing us to partner with you to achieve your financial success.
Sincerely,
Don Wilcox, Chairman
Health Facilities Federal Credit Union
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