A message from the CEO:
The headlines over the last two years have been filled with negative and worrying news…especially concerning the economy and the country’s financial system.
I want to assure you that 1st Advantage Federal Credit Union has been and continues to operate on sound financial footings. While it would be disingenuous to say that we have not been impacted by the economy, your board and leadership team have always acted promptly to keep your credit union strong and healthy.
In fact, we expect earnings for Year End 2010 to exceed $3 million – which will be used to further strengthen our capital reserves. Our current capital ratio, a measure of financial soundness, has increased to 9.86%. The NCUA, our regulator, considers a credit union to be well capitalized when its capital ratio is over 7%. Finally, we have successfully completed regulatory and independent audits within the last four months.
Our colleagues continue to develop new skills to provide you with excellent service, and we are preparing for our third annual day of service in the community to remind everyone that the “credit union difference” extends beyond the walls of our branches.
As we have for the past 59 years, 1st Advantage remains ready and dedicated to providing great service experiences and great value to you, our member-owner.
Casey
Casey Duplantier
President/CEO
