|
|
Atascadero Branch Construction Begins
|
Chairman's Message
Strength, vision, and growth
are meaningful words describing
SESLOC Federal Credit
Union. SESLOC originated
in 1942 thanks to the vision of
a few, and it has grown to serve
many. At year-end SESLOC served
over 36,000 primary members, along with their families
and joint account holders.SESLOC ended the year with over $453 million in assets, an increase of $37 million, or 9 percent over the previous year. Financial strength accompanied the growth, as evidenced by a $4.5 million increase in capital, which represents a 10.3% growth over the previous year, while maintaining a capital to asset ratio well over 10 percent. Our Credit Union's strength comes from its members, and SESLOC is sprouting new branches as part of its commitment to increase member value and service. Construction is progressing on the new Atascadero branch, which will increase convenience and help meet the needs of North County residents. As the year ended, SESLOC closed escrow on a new property in Arroyo Grande, where plans are underway for a larger branch to accommodate the growing demand in South County. We were saddened this year by the sudden loss of a good friend and colleague, Board Chairman Andrew Cone. Andy joined the Credit Union 26 years ago and spent 22 of those years as a Credit Union volunteer, the last 18 years as a Director. He was known for his integrity, his jubilant spirit, and his commitment to SESLOC, and we honor his memory. "Our Credit Union's strength comes from its members, and SESLOC is sprouting new branches as part of its commitment to increase member value and service." Your Board's vision for the future is to continue to serve our members through outstanding member service and through high quality products and services offered at fair and reasonable rates. Our mission is to serve our members well, because it is our members who are the ultimate source of SESLOC's strength and growth. Enjoy the many services offered by your credit union, and visit these new branches when they open to help celebrate our 65 years of Strength, Vision and Growth.  Alden Shiers, Chair |
|
 |
« Annual Report Home |
|
|
|
 |
This publication does not constitute legal, accounting or other
professional advice. Although it is intended to be accurate,
neither the publisher nor any other party assumes liability
for loss or damage due to reliance on this material. © 2008 SESLOC Federal Credit Union |