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Nonprofit Overview
Causes: Credit Unions, Microfinance
Mission: Provide quality service and products to improve the financial well-being of members.
Programs: Provided low cost financial services to over 320,000 members. Launched the new cefcu on-line and cefcu mobile banking app, which allows for a seamless experience between the two platforms. New enhancements include intergrated bill payment, personal financial management tools and spanish language features. Opened one new member center and replaced one member center with a new building. Planned for the opening of two additional member centers.
continued to provide a wide variety of savings products with low fees and competitive rates. Added over $292 million of savings deposits in 2016. Paid dividends of nearly 29% of revenues including a second consecutive $40 million extraordinary dividend divided between borrowers and savers.
provided a full range of mortgage, consumer, and business loans to members and member owned businesses. Granted over $1. 4 billion in loans to members, including more than $1 billion loaned to members to finance consumer loan needs ranging from new automobiles to recreational vehicles and credit cards. Nearly $340 million and $160 million was loaned to members for home loans and business loans, respectively.