On February 28, 2013, Members First Credit Union members attended the MFCU 2013 Annual Meeting. Throughout the meeting, CU members, the Board of Directors, Management and Staff reflected on the progress of 2012 and the continued dedication of Members First to provide the best experience for each and every person who walks through its doors, as well as help them realize their financial dreams.
Despite ongoing financial turmoil and ever-increasing regulatory burdens in 2012, Members First was able to maintain a competitive rate strategy and help put money into the pockets of member-owners. Members First focused on providing products and services that members need and deserve, while maintaining a financially sound balance sheet.
Below are some highlights from the meeting. Click here to view the full 2012 MFCU Annual Report.
2012 Key Highlights
- Assets grew by 6.07%
- Membership increased 2.16%
- Net Capital Ratio 15.28% (7% NCU minimum allowable level for “well-capitalized credit unions”)
- Maintained 5-Star Superior rating by BauerFinancial, Inc., Coral Gables, Florida, the nation’s leading bank rating and research firm
- Continued to offer “Still Free Checking and Fee Free Debit Cards”
- Increased Internet Banking users with the introduction of Mobile Apps, Financial Calculators, and improved Internet Banking Security
- Introduced additional Youth Programs and resources for members ages 18 and under
- Offered Financial Literacy Programs to the community and sponsored community organizations and events