As CEO, I often take the random phone call, “What’s my payment?” or “Why won’t you build a branch in Lewis County” or, my favorite, “Have you driven the credit union into the ground yet?” The answers are: “I will need to look that up”, “we are looking” and “no”.
As for the last question there is much to be thankful for. We had our best year ever (over $1.5 million added to our reserves), our assets topped $214 million and membership topped 23,000. All are records.
So what is happening for 2016? The big change that many of you will see is our adoption of EMV cards. EMV stands for “Europay, Mastercard and Visa” and was designed as a high security, low risk card designed to thwart theft. We have been planning this change since early 2015 but technical issues with our vendors have delayed the implementation until 2016.
Oly Gold, our venerable 1% cash back credit card, is first to change in February. After this we will follow with the rest of our credit and debit offerings. As a bonus, we will also be installing instant issue card machines at all of our branches in 2016 – allowing members to have emergency cards in their hands the same day.
Other enhancements are planned as well. A new experience to our online banking, better mobile applications, and a few items we are working on that will make everyone’s life just a bit easier (that’s a teaser, if you didn’t notice).
The best way to get the low down on what is happening is to attend our Annual Meeting on Saturday, March 19, 2016 at the Center for Business & Innovation (EDC) and to subscribe to our Artesian monthly email newsletter.