to achieve their financial
goals through systematic savings.
The Fusion Savings program
helped us grow our member deposits by 17.22% in 2008 – more than twice
the nationwide average for credit unions. This year, Fusion Savings has
generated over $641,000 in new savings for 587 members, truly linking
the strength of our community with the strength of our credit union.
Our Member Rewards program
continues the Fusion Savings approach. When our members establish a deep
relationship with GFA, we provide higher rates on certificates and lower
rates on consumer loans. More than one third of our membership qualified
for these rewards which totaled $125,000 last year alone.
It’s an approach that sets us
apart from our competitors as well. Using strong partners, such as COCC,
we are consistently first to market with products that serve the
complete range of member financial need – from member business loans to
an assistance program that has already helped 300 members through our
challenging economic times.
Our community service approach has been instrumental
in GFA’s growth from one branch location and $64 million in assets in
1987 to a 20,000 member credit union with eight branches and $300
million in assets today.
Equally important to our community service mission is
efficiency. Using the latest core processing technology from COCC, we
have gained significant efficiencies on the teller line and in the
research and support functions. This allows us to move our focus from
technology to the member experience where it matters most.
With today’s economy challenging us all, we
continually seek a balance between member needs, prudent financial
strategies, and emerging technology. When our credit union grows, we
know that we’re in balance.