Our Shared Success
By Rex Rollo, Executive Vice President/Chief Financial Officer
We have always understood that any success America First Credit Union achieves is the direct result of our members successfully developing and maintaining financial well-being.
As we help members improve their financial position in both favorable and unfavorable economic times, America First has continually experienced strong growth, despite the market’s ups and downs. The first six months of the year have been no exception.
The credit union continues to see exceptional progress on all fronts, as membership, loans, and deposits exceed budgeted projections. Because members are encouraging family, friends and neighbors to join America First, we have experienced double-digit expansion in this area, making us the fifth largest credit union in the nation based on membership.
Our ever-growing family of members continues to take full advantage of an expanding array of products and services. Through our 120 locations, call centers, free online banking, free mobile banking, and thousands of ATMs offering service at no cost, America First completes millions of transactions each month through whatever channel our members choose.
Such positive indicators translate to even better financial outcomes. Our assets now exceed $7.7 billion, compared to $6.9 billion a year ago. Loans total more than $5.5 billion; this number was $4.7 billion in 2015. Deposits have increased from just over $6 billion to nearly $6.8 billion. America First’s balanced and consistent growth has been the catalyst for us to record a net worth ratio of 11. 42%, which is among the highest in the industry and well above the regulatory well-capitalized requirement of 7%.
Growth provides us with the resources to adapt to an always changing environment. Our new Innovation Center in Salt Lake City allows members to experience the latest in technology & advancements, and it gives you a real-time avenue to contribute vital input as we work together to create the future of financial services.
We are developing applications to bring you complete access to all of your financial needs in more efficient ways through mobile devices, smartphones, new full-service ATMs, online banking, and traditional branches. This collaborative endeavor will ensure the alignment of member need with the best in products and services, delivered in the most convenient manner.
America First is committed to enhancing your financial health and it is through this effort that our shared success will continue to create a growing, secure, and thriving credit union.