Annual Report 2018
70 Years of Growth and Transformation
It’s been quite a year at SLFCU. From technology upgrades to member milestones, SLFCU continues to grow and serve our membership and communities.
It’s hard to imagine that SLFCU employees Debra Aragon and Kim Thompson, who both began their Credit Union careers in the 1970s, initially performed their jobs without the use of computers. It certainly puts our seven decades of progress in perspective, having completed several important projects in 2018, including a new online banking system and mobile app and our upgraded transactional system. These upgrades were not only cost-efficient, but also mark critical steps in our ability to provide SLFCU members with relevant features and functions, now and into the future.
Also in 2018, SLFCU welcomed Keely Dobbs, our 100,000th member. She and her husband, Danny Hart, are part of New Mexico’s thriving arts community. We are proud that they chose SLFCU to serve their business, Danny Hart Design, as well as their personal financial needs.
Assisting our members in reaching their goals is always at the heart of what we do. Over the years, our Business Services team had the opportunity to provide family-owned business Los Poblanos Historic Inn & Organic Farm with financing to expand their Albuquerque operations. They recently completed renovations at the end of 2017, which helped them prepare for guests over the course of 2018. And our mortgage lending team collaborated with SNL Livermore to create a more affordable way for Sandia/California employees to purchase a home. We are hopeful that SLFCU’s new low down payment option will make purchasing a home a reality for our Sandia/California families.
Read these stories and more in the 2018 SLFCU Annual Report, which will be available at any branch beginning February 22.
| Financial Highlights | 2018 | 2017 |
| Total Assets | $2,548,765,000 | $2,474,652,000 |
| Loans | 1,362,059,000 | 1,244,776,000 |
| Investments | 986,575,000 | 1,011,908,000 |
| Members' Share Accounts | 2,264,167,000 | 2,207,602,000 |
| Reserves and Undivided Earnings | 299,671,000 | 277,268,000 |
| Gross Income | 86,569,000 | 79,117,000 |
| Dividends Earned by Members | 14,627,000 | 12,914,000 |
| Net Income | 22,403,000 | 21,472,000 |
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