Report from the Board of Directors
Extraordinary | ex·traor·di·nary | adjective – Very unusual. Going beyond what is regular or customary. Exceptional to a very marked extent.
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Extraordinary—reflecting on 2021, extraordinary seems to be a fitting adjective. When we embarked on the new year, many anticipated a return to normalcy with hopes for a pandemic-free world. However, we continue to live through extraordinary, atypical times. And, we are reminded that things rarely return to the way they were. Instead, we evolve and adapt to our changing environment.
Similarly, Vantage Credit Union has evolved and adapted over the years. Our beginnings focused on traditional savings and loans for educators; at present, we are a full-service financial institution with a member base of 72,000+ spanning diverse backgrounds and occupations and over $1.1 billion in assets. Our ability to identify our members’ ever-changing needs and offer innovative products and services to meet those needs is a credit to our success.
While many things change, one constant remains the same—our commitment to delivering extraordinary service to our members. We are your trusted financial advisors. Whether you are in our branch, at a PTM or accessing your account through mobile or online banking, we strive to do our best every day to demonstrate that your financial wellness and success are our number one priority.
As we look to the future, we’ll continue to enhance our service offerings and capabilities to help you—our members—achieve your financial goals. Your Board will continue fulfilling its purpose of providing strategic direction and oversight to ensure our members’ best interests are top priority. Together, we will never lose focus on what makes this credit union extraordinary—People Helping People.
Report from the Secretary/Treasurer
What defines extraordinary performance for a financial services organization? Is it the ability to sustain a solid financial position amidst uncertainty? Is it maintaining the highest standards of integrity and responsible financial management? Or, is it delivering a consistent level of service time and time again? For Vantage Credit Union, we pride ourselves on exemplifying all of those and more.
Our success is a credit to the solid vision and planning established by the board and management team—a performance strategy emphasizing structure, implementation and resiliency. Yet, as we navigate these extraordinary times, we recognize that our ability to evolve to meet the needs of our members is also critical for our future growth and success.
As a member-owner of the credit union, you should be proud of your contribution to our strong, persevering legacy—People Helping People. Through our continued involvement and utilization of the credit union’s full offering of services, we can pave the way for future success together.
Statement of Financial Condition
For Fiscal Years Ending 2019, 2020, 2021
Statement of Income & Expenses
For Fiscal Years Ending 2019, 2020, 2021
Shares, Assets & Net Loans
For Fiscal Years Ending 2019, 2020, 2021
— LOAN STATISTICS —
Report from Management
Despite the changing year on the calendar, 2021 persisted with challenges brought on by the pandemic. To say these are extraordinary times for our generation would be an understatement. But we are learning valuable lessons; ones that are carrying us through these times of uncertainty and changing the way we do business so that your credit union is a solid resource now and into the future.
What resides at the heart of our credit union? Our people and our service. We talk about People Helping People—it truly is our mission.
With every interaction you have at the credit union, we want you to experience the trusted advisor relationship and realize the benefit of being part of a member-owned, member-led organization. Despite the challenges in 2021, our commitment to delivering extraordinary service, focused on achieving your individual financial goals has remained—whether you’re in a branch, at a PTM or ATM, online or on the mobile app.
In 2021, we worked on improving the member experience. How did we do this? We introduced customized member offers. With a few simple selections in the mobile app or through online banking, members can now take advantage of the loan or offer they need. We broke ground and began construction on a new branch—Progress Point—in St. Charles County. We improved our infrastructure with IT and security enhancements. And we continued the roll out of personal teller machines (PTMs) at our branches. Do we have more in the works for 2022? Absolutely! We’ll continue building on this momentum with new products and services focused on delivering value to you, our members.
How will 2022 unfold? As the saying goes, the only constant in life is change. We’ve positioned your credit union to meet this changing environment. We’ve forecasted a variety of scenarios and have a new and exciting strategic plan in place, focused on bringing value to our members and fortifying the health of the credit union.
Whatever the future holds, we will stay focused on meeting your needs and helping you achieve your financial goals. Thank you for your continued support and membership.
Report from the Supervisory Committee
At Vantage Credit Union, the financial success of our members is reliant on the financial soundness of the credit union. A variety of integral components work in tandem to ensure our organization’s success. Adequate oversight plays a pivotal role in validating our organization’s strength and fortifying our future. As a member-owned, member-led organization, that oversight resides with the talented volunteers of the Supervisory Committee.
The Supervisory Committee, appointed by the Board of Directors, is responsible for ensuring the effectiveness of the internal control structure within the credit union. We use both internal and external audits to validate: proper management of the credit union, accuracy of records, that all operations are in full compliance with all federal and state regulations, and that adequate safeguards are in place to protect member assets. Additionally, we oversee the scope of our internal audit team which is made up of four highly skilled professionals.
As required by federal and state law, our comprehensive annual external audit was completed by J. Tenbrink and Associates. After reviewing the results of the audit, Vantage once again received the best audit opinion possible—an Unqualified Opinion. The full report accentuates the continued financial strength and viability of your credit union.
As fellow member-owners, your Supervisory Committee remains committed to protecting the financial soundness of the credit union. With a unified purpose—People Helping People—Vantage is an extraordinary partner on our journeys to achieving our financial goals.
Report from the Nominating Committee
The credit union’s 2022 Nominating Committee proudly recommends the following candidates to fill the vacancies on Vantage Credit Union’s Board of Directors. Each candidate is nominated for a three-year term.
Dr. Barbara Evans-Cunningham
Dr. Evans-Cunningham served in the United States Army, and upon retiring continued to serve veterans as a VA Claims Examiner. In her 20 years of service with government agencies, non-profit organizations and community outreach programs, she has collaborated with executive level leadership (C-suite), evaluated and analyzed financial policies, and developed strategic plans. A member of Vantage for over 20 years, she currently serves on the credit union’s Asset Liabilities Committee (ALCO). She is a Certified Credit Union Board Director and has earned numerous Credit Union National Association accolades. Barbara previously served the Xi Zeta Chapter of the Zeta Phi Beta Sorority, Incorporated and is currently a board director for the Zeta Charitable Foundation.
Mr. Dan Dolan
Mr. Dolan is an entrepreneur and seasoned small businesses investor. He previously owned and operated a multi-location car wash business over the course of 15 years. Prior to becoming an entrepreneur, Dan worked for Centric Group, a subsidiary of Enterprise Rent-A-Car. He has served on several boards over the years, most recently as a volunteer for the non-profit organization, Teachers For A Better Belize which offers teacher training and support in southern Belize. He handles various duties for TFABB, including fundraising, finances and organizational logistics. Dan has been a member of the credit union for over 25 years, and currently serves as Vice Chair of the Board of Directors. He is married with four children and resides in St. Louis County.
Mrs. Linda Ceriotti
Mrs. Ceriotti is a former educator, having taught at public, private and parochial schools in the St. Louis area over a 16-year career. She now serves patients as a medical secretary for St. Luke’s AntiCoagulation Clinic. Linda’s passion for service extends beyond her professional endeavors. She has served her parish in numerous volunteer capacities and, over the course of 14 years, has held several positions for the Baxter Lakes Subdivision. Linda is skilled at facilitating collaboration and teamwork, a key driver in her volunteer efforts. A credit union member for over 35 years, she is an advocate for financial literacy, has volunteered on the Quest For Education Scholarship Selection Committee and held various roles on the Supervisory Committee. She is married with three children and resides in St. Louis County.
This credit union is federally insured by the National Credit Union Administration.