It’s been a pleasure working with the staff, management, and elected officials at SF Fire Credit Union as interim CEO. After spending the summer familiarizing myself with the organization, I’ve had the opportunity to see first-hand how this Credit Union earned its reputation within the industry for delivering exceptional service to create a fiercely loyal membership. I’m pleased to provide that membership with an update on the state of their Credit Union. I’ll offer my insight regarding our financials, significant summer projects, what’s in store for the remainder of the year, and a glimpse of our plans for 2017.
Strong Financial Position
SF Fire Credit Union continues to maintain a strong financial position. Profitability is a key to the success of any credit union, including our own, as Net Income is the only manner by which we can increase our Capital Reserves. 2016 has been a good year thus far, with Capital Reserves increasing by over $5.9 million for a total of $95.5 million.
Significant Summer Projects
It was a busy summer at SF Fire Credit Union, with time and resources spent on infrastructure projects designed to improve upon system performance, or to prepare us for the launch of upcoming endeavors. We performed significant upgrades to our core operating system, to improve the performance of our current Online and Mobile Banking platforms while their replacement systems are developed. We also completed the testing and systems preparation required for the launch of EMV debit cards, which begin production soon.