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2019 Highlights

Success Through Unity

Since 1936, SELCO Community Credit Union has been dedicated to helping our member-owners achieve their good life goals. Our members’ patronage has in turn fueled our own success, further reinforcing our commitment to exceptional financial value, industry expertise, and the highest level of service.

Thanks to the ongoing loyalty of our 142,000 members and 378 associates, SELCO closed 2019 with over $1.7 billion in assets, $1.3 billion in loans, and $1.5 billion in deposits.

In addition to this financial growth, SELCO’s accomplishments included:

  • Thurston Branch's move to a sleek, modern, and vibrant space in East Springfield.
  • The launch of text-messaging capabilities for more streamlined member communications.
  • The creation of our Employee Volunteer Program, providing our associates paid hours to volunteer at nonprofits of their choice.

As 2020 moves along, we continue to devise ways to better serve our members and communities through initiatives involving operating efficiency, financial performance, strategic position, and, of course, member experience. Thank you for playing a crucial role in our success—we wouldn’t be where we are without you.

Community Investment

Community Partner Spotlight

In keeping with our mission to improve our members’ social and economic position, SELCO and its employees donated nearly $350,000 to educational and community partners in 2019. Included in these contributions were over $210,000 in community sponsorships, close to $100,000 in SPARK! creative learning grants and scholarships for college-bound seniors, and $15,000 for our 2019 SELCO Cheer campaign. The amount given to each of the 20 SELCO Scholarship recipients was raised to $2,500 in 2019.

La Pine High School was one of the 56 beneficiaries of a SPARK! creative learning grant in 2019. This funding allowed La Pine Life Skills teacher Cari Fike to purchase kitchen items such as Instant Pots, a bread maker, and a skillet for their project designed to help students live independently. The class created a "Hawks" café, for which students plan menus, shop for the items, and prepare meals every Thursday for staff to purchase.

Students in the Life Skills class at La Pine High School pose with kitchenware that was purchased with the help of a SPARK! creative learning grant.
"We wanted to take this opportunity to thank you for your generous donation to our classroom/programs. This has been such a wonderful experience in more ways than one. Without the support of the grant, this would not have been possible. Thank you for making a dream a reality!"

- Cari Fike, Life Skills Teacher at La Pine High School

But we believe giving back means more than financial contributions. In 2019, SELCO launched its Employee Volunteer Program, through which all SELCO employees are afforded 20 paid hours each year to volunteer at nonprofits of their choice. Our employees have volunteered in their communities for years, but the EVP takes this dedication further by allowing employees to volunteer during work hours. In the first year of the program, employees from all 15 SELCO branches and every department collectively volunteered nearly 1,200 hours.

Chairperson and President's Report

Chairperson and President’s Report

SELCO’s mission is to improve our members’ social and economic position. In order to achieve this mission, our activities revolve around four guiding principles: Safety and Soundness, Operating Efficiency, Quality Personal Service, and High Return to Member. Below are some of our most noteworthy accomplishments for 2019 in each of these areas:

Safety and Soundness: SELCO’s strong ROA (return on assets) drove the improvement of the capital ratio to 11.87%, which is considered well capitalized per the industry’s standards for a safe and sound credit union as determined by the NCUA, the credit union industry’s federal regulatory body. In 2019, state and federal examiners provided SELCO with a fully favorable examination report.

Operating Efficiency: SELCO’s ongoing focus on operating efficiency and expense-side management resulted in an operating expense to average asset ratio of 3.19%. SELCO’s Strategic Execution Office evaluated and implemented organizational process improvements that resulted in greater operating efficiency and improved member service.

Quality Personal Service: In 2019, SELCO branches processed 1.3 million transactions for our nearly 142,000 members. We funded 20,329 loans totaling $438 million. SELCO Mortgage funded 1,264 mortgages totaling $335 million, SELCO Insurance Services wrote 3,097 policies, and SELCO Investment & Retirement Services managed $355 million in member investments.

Return to Member: In 2019, SELCO provided direct benefits to members through lower account fees, higher interest rates on savings and checking accounts, and lower interest rates on loans. We continued to help SELCO members borrow sensibly, save smarter, and invest wisely with our extensive menu of products and services coupled with industry-leading rates.

Thank you for choosing SELCO as your financial partner. We exist because of you.

Carol Beckley - Chair, SELCO Community Credit Union Board of Directors
Bob Newcomb - President/CEO, The SELCO Companies