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2021 IMPACT REPORT

A MESSAGE FROM OUR BOARD CHAIR AND PRESIDENT

2021 was a year of growth and improvement at the credit union. We hope this report gives you a glimpse into the Positive Impacts we made on our members, employees and communities this year.

We started this year off with our System Upgrade which came with some inconveniences. We want to reiterate how grateful we are that you stuck with us through this time. This upgrade has already allowed us to build efficiencies and seize opportunities to offer new services.

With everything we do, we remain steadfast in our vision to provide the Best Service, Meaningful Value and Continual Growth.

  • We provide the best service by employing a team of local experts who personally care about the financial well-being of our members.
  • We work hard to provide meaningful value through competitive rates on loans and deposits, minimal fees and convenient access to your accounts. Our team takes great pride in helping our members earn more money on their deposits and save money by refinancing loans to a lower rate.
  • We encourage our employees to pursue continual growth as individuals and as a team, as well as by growing our credit union as a whole. Our most obvious examples of growth are in our numbers.

Our total members, loans, and deposits are also up, especially our consumer loan portfolio which increased by 18% this year! When talking about growth, it is important to note that we work closely with regulators to ensure we’re growing safely and efficiently and that our credit union remains well-capitalized.

Thank you again for choosing Town & Country Credit Union. We look forward to continuing to grow, improve and serve you better in 2022 and beyond.

MISSION, VISION & VALUES

MISSION

To Positively Impact those we serve.

VISION

Best Service | Meaningful Value | Continual Growth

VALUES

Do the Right Thing. | Operate with Integrity. | Keep it Simple. | Find a Way to Say Yes. | Make a Difference

MEMBERSHIP

1,365

NET NEW MEMBERS

24,543

TOTAL MEMBERS

SYSTEM UPGRADE

We completed our System Upgrade in 2021 to serve you better now and into the future. We truly appreciate your patience and understanding throughout the upgrade.

The System Upgrade included:

  • Converting to a stronger internal system that will allow our credit union to continue to grow and integrate with the kind of products and services you’re looking for.
  • An updated look and feel for TCCU Online and the mobile app with enhanced security features.

We’ve also continued to look for ways to make it easier to do business with us! You’ll find more online forms available on our website and the link to our holiday skip a loan payment request form was available directly in TCCU Online and the app.

We plan to continue to improve how we use these new systems in the next year to offer an even stronger member experience.

SUPPORTING OUR EDUCATORS, MILITARY AND FIRST RESPONDERS

This year, we started offering consumer loan discounts as our way of saying thank you to our educators, military, healthcare workers and first responders who make sacrifices to serve our communities every day. We offered each loan discount for two months.

We provided discounted loan rates to:

89 Educators

80 Military Service Men & Women

96 Healthcare Workers & First Responders

We celebrated International Credit Union Day with our first-ever Town & Country Rate Race! For one day only, the first 20 people in line at each participating location could snag a coupon good for either 2% off their qualified loan rate or a 12-month CD at 1% APY(Annual Percentage Yield). We had 92 people claim their deal!

YOUTH ACCOUNTS

We provide added value to our youngest members by giving them $5 when they make a deposit during their birthday month and giving them a $25 deposit match in December. We also match new member deposits in August.
Pee Wee members and their families had the opportunity to attend several free events that we hosted in 2021.

Ice Skating Day

184 Members

Zoo Day

485 Members

Pool Day

197 Members

Pumpkin Patch Day

368 Members

FINANCIAL COUNSELING

In June of 2021, we launched Credit Score, a free service within TCCU Online that allows members to view their credit score and provides insight on how to improve it.

3,177 members are using Credit Score
15% of members improved their scores
69% of members maintained their scores

14 Certified Financial Counselors are on staff offering free financial counseling services to members.

I SAVED A MEMBER

We like to say that we’re on a mission larger than finances - to Positively Impact those we serve. What does that look like in practice? Our lenders look at your whole financial life to find ways to help you SAVE money rather than pay more in interest. These savings success stories are called our “I Saved a Member” stories. Check out a couple of our favorites below:

A member called in to shop rates for a new vehicle purchase. Once he talked to Stacia Sanders, financial services officer, he was sold. Not only did she offer him a great rate for his new vehicle (using our limited-time Military Appreciation Loan Discount), but she also noticed that we could offer lower rates for three of his existing loans as well! She was able to help him refinance a recreational vehicle loan and two auto loans —decreasing the term AND dropping the rate for each one! Plus, they were able to pay off an unsecured personal loan using the equity in one of the vehicle refinances and merging it with the auto loan.

Combined, Stacia saved this member $8,086 in interest charges over the life of his loans!

A member came in to get a loan for home improvement, but when he was here Deanna Lovelace, financial services officer, noticed that she could help him save by refinancing his camper loan AND his auto loan too! She was able to drop his camper loan rate by 4.5% saving him $4,542.46 in interest over the life of his loan. Then, she was able to drop his auto loan rate by 1.7%, saving him an additional $1,685.05 in interest.

Add those together and you get a total of $6,237.15 in interest savings!

REWARDING OUR MEMBERS

$2,555,082

Dividends & Interest Paid

$115,342

Visa® Cash Back Rewards Redeemed

142,063

Visa® Rewards Points Redeemed

Members earned 3% interest on up to $20,000 in their checking accounts, or chose 3% cash back on purchases up to $7 each month, AND received ATM refunds up to $25 each month, totaling $359,559 in ATM Fee Refunds & Cash Back.

$359,599

ATM Fee Refunds & Cash Back received

MEMBER PURCHASES MADE POSSIBLE

With simple and affordable financing options, we help our members make purchases big and small.

639 Home Purchase Loans

81 Home Equity Lines of Credit

460,440 Visa® Card Charges

2,029 Car Loans

MAKING HOME HAPPEN

We helped members secure 1,178 mortgages for home purchases, remodeling, debt consolidation, new construction, lot purchases and refinances.

390 of those mortgages were for First Time Homebuyers.

Our members were able to take advantage of special loan programs, ensuring they received the best loan for their situation.

SUPPORTING BUSINESS & AGRICULTURE

198

New Businesses joined Town & Country in 2021

$6,014,000

in Ag & Commercial Loan Growth

511 PPP Loans

totaling $16,404,943

WE'VE GOT YOU COVERED

Town & Country Insurance Agency, owned by Town & Country Credit Union, is an independent insurance agency offering farm, crop, personal, health and commercial insurance options. They have agents in the Minot, Fargo and Bottineau areas who can help you compare prices and benefits and determine the best policies for you.

GIVING BACK TO OUR COMMUNITY

We Positively Impact the communities we serve through cash and in-kind donations and by allowing our employees time to volunteer with organizations of their choosing.

EMPLOYEE CULTURE

We take our mission of Positively Impacting our employees seriously. We work to cultivate a culture of teamwork, engagement, creative problem solving, and trust. Work-life balance is important here and staff are highly encouraged to use their generous vacation and sick time.

In addition, we also encourage staff to expand their network by attending chamber events, conferences, applicable training and utilizing volunteer time away to support causes important to them.

of employees surveyed say that they are proud to tell people where they work.

of employees surveyed say that their job allows them to strike a balance between their personal and professional life.

Annual dress-up days, staff events, bingo and trivia are a few favorite activities along with monthly employee appreciation treats like sweets, coffee deliveries and lunch.

TOWN & COUNTRY IMPACT AWARD

These employees were nominated by their peers for embracing the Mission, Vision and Values of Town & Country. The 2021 award recipients each received a $500 cash award and the opportunity to donate an additional $500 to the non-profit of their choosing.

AUSTIN DEAVY

Assistant Branch Manager, West Fargo

Austin Deavy joined the credit union in 2017 and is currently the Assistant Branch Manager at Town & Country’s West Fargo location. Austin was nominated for his team spirit, servant leadership and commitment to excellent member service. “Positive Impact to me is all about making a difference for others. I have been fortunate enough in my time at Town & Country to be encouraged to volunteer and select local organizations to make donations to and make a positive impact that way,” said Austin.

Austin chose to donate his $500 to Cat’s Cradle Shelter.

JENNIFER JERAULD

Member Services Manager, Minot

Jennifer Jerauld joined the credit union in 2019 and is currently the Member Services Manager at Town & Country’s Minot Main location. Jennifer was nominated for her incredible commitment to the credit union’s members, willingness to learn new things, and showing up each and every day for her team. “To me, Positive Impact is affecting those around me in a positive way, whether it’s answering a question, researching a problem, or putting a smile on someone’s face. It is the little things we do each day that make the biggest impact on people,” said Jennifer.

Jennifer chose to donate her $500 to On the Water, Inc.

AWARDS & RECOGNITION

In 2021 we received the following local and national recognition.

  • 5 Star superior Rating from Bauer Financial.
  • A+ Health Rating from depositaccounts.com.
  • #41 on the S&P Best-Performing Credit Unions list.
  • #162 on the Top 200 Healthiest Credit Unions List.
  • 1st Place Minot Daily News Reader’s Choice Awards Best Credit Union.
  • 1st Place Fargo Forum’s Best Credit Union of the Red River Valley.
  • 1st Place Desjardins Adult Financial Education Award from the Dakota Credit Union Association.
  • 2nd Place Louise Herring Philosophy in Action Award from the Dakota Credit Union Association.

BOARD OF DIRECTORS

DelRae Geinert - Chair

Kevin Harmon - Vice-Chair

Jeff Stremick - Secretary/Treasurer

Jim Anderson

Leah Dalton

Jay P. Hight

Brian Nelson

Credits:

Created with an image by Urupong - "Businesswoman shaking hands, finishing up a meeting business growth.Confidence concept"