SF Fire Credit Union

John Sweeney, Chairman

On behalf of the Board of Directors, the committees and staff of SF Fire Credit Union, I am pleased to present this annual report to you.

Providing fair and competitively priced services to members who borrow, and giving good financial return to those members who trust us with their savings, are challenges that this Credit Union has faced since its inception in 1951. The harsh economic climate of the past year proved to be a demanding environment to live up to for these endeavors, but I am pleased to report an impressive 53% of the proceeds we received from our income was returned to our members in the form of dividends in 2008. Meanwhile, we maintained the capacity and ability to provide loans to our members, whom we believe are worthy of our faith in their creditworthiness.

SF Fire Credit Union remains a financially safe and strong organization. With over 22,000 members, $525 million in assets, and capital reserves of over $53 million, rest assured that we will be here – to serve your financial needs and those of your family – in 2009, and well into the future.

Thanks to you, the members, for your continuing loyalty and confidence in SF Fire Credit Union. And thanks also to the Credit Union staff and volunteers for the efforts they have provided on our behalf over the past year to make this co-operative association the first-rate organization that it is – responsive to members’ needs and dedicated to the idea of outstanding and innovative service – which has been our historical tradition.

Best Regards,

John Sweeney