This was my first year as president and it's been a busy year. Throughout the year your volunteer board of directors faced many challenges including how to continue to serve our Elma members and at the same time better manage the costs for our entire membership. In the end, it was determined that we should close the Elma branch after seven years. When the Elma office was closed, the credit union started to provide Shared Branching services so all members could go to our Firman Avenue location as well as other credit union locations to do deposits and withdrawals. Although it's still early, this program appears to be a good match for our members.

Trying to figure out the best interest rates has been a real guessing game, we continue to look at the other banking institutes on the harbor. I think we have done fairly well under the circumstances. We did not do as much advertising as last year, but have tried to keep us with as much exposure as possible. We have continued to monitor and tried to reduce our loan losses and will do so in the coming year. The last year has been somewhat trying with the ups and downs we went though. Our membership has stayed level, but we need to try and grow our membership in this next year. The staff has done a great job through their hard work and providing great customer service. It has been a good year and we will try to maintain good services. Thank you for the opportunity to serve you. President - Board of Directors

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