There are many things to which SF Fire Credit Union owes its continuing prosperity, with one of them being an engaged membership who cares about how we're doing and what we're up to. Thank you for giving us feedback every single day by participating in our member surveys, through social media on Facebook, and reaching out to me directly via Twitter (@SFFireCU) and Ask Darren on our website. I always appreciate hearing from you, and I'm happy to act on your suggestion to begin providing updates on the Credit Union throughout the year.
The economy is certainly on the minds of many, and for good reason. As we continue to recover from one of the toughest economic cycles in generations, members are still dealing with the financial pressures associated with a troubled housing market, stagnant employment growth, increasing consumer prices, and volatile financial markets. Our members have been weathering this storm for the past four years, as has the Credit Union. In regards to the future, there is room for optimism. We're encouraged by signs of stabilizing home prices and that consumer spending appears to be on the rise.
When it comes to the health of the Credit Union, we continue to operate in ways to maintain long-term safety and soundness. A strong membership and responsible lending practices have resulted in loan delinquency and loss rates that continue to be below the industry average. We're keeping a watchful eye on operating expenses, with a prime example being the prudent changes which were recently made to our ATM Anywhere rebate program. Perhaps most importantly, we've maintained profitability and our net income is strong. Adding to our capital reserves is key in ensuring our ability to continue serving you and your family well into the future.
The feedback members provide us is invaluable, and we're always listening to what you have to say. It's what drives many changes at SF Fire Credit Union, and helps us understand what we need to do to meet your needs. You told us it was difficult to get to our branches by 5:00 PM, so we extended hours during the week to 6:00 PM. Many of you are small business owners and want to work with your Credit Union to grow and help strengthen our local economy, so we've launched a new business lending program.
We also strive to be a good member of our local community and contribute to it in ways which are a positive reflection of our membership. One of our goals is to further financial literacy, and we've partnered with SF City College Child Development & Family Studies Department to offer classes for parents and their children. We also want to enable those wanting to live greener and more energy-conscious lives, and have made Solar and Bicycle Loans available.
All of us at SF Fire Credit Union are excited about what the rest of 2012 will bring, and we want you to look forward to further enhancements to Online and Mobile Banking. In the meantime, know that we remain grateful for your continued loyalty and for being your trusted financial partner.
Darren Herrmann, President & CEO