A MESSAGE FROM OUR BOARD CHAIR AND PRESIDENT
With so many challenging situations over the past year, it can be easy to lose sight of all the positive moments that were mixed in. We hope that this report offers a glimpse into the Positive Impacts that our credit union team was able to create and serves as a reminder that the credit union principle of “people helping people” is alive and well.
Our team truly rose to the challenge this year and embraced change to best serve our members. Despite closing our branches for 10 weeks and sending many employees to work from home, we still hit some impressive milestones for growth in 2020. These include:
- Having the highest percent of membership and asset growth of all credit unions in the state.
- Doubling our previous record for mortgage loan volume.
- Providing the most Paycheck Protection Program loan dollars of any credit union in the state.
We’re most proud to be able to share that we still maintained a 98% member satisfaction rate.
Thank you for choosing Town & Country Credit Union. We look forward to continuing to grow and improve in 2021 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
RISING TO THE CHALLENGE IN 2020
2020 was challenging for many of our members and our staff due to COVID-19. We’re happy to say that we were ready to step up when they needed us.
BRANCHES CLOSED FOR 10 WEEKS
To keep everyone healthy, we closed our branch lobbies for 10 weeks and sent many of our employees to work from home. Despite this change in service, we were still able to fulfill all our members’ needs in creative ways and maintained a strong service score on member surveys.
DISTANCE MADE POSSIBLE BY TECHNOLOGY
In recent years, we’ve invested in technology to make our services more convenient and accessible for our members. Those investments proved invaluable in 2020. Mobile check deposit saw an increase of nearly 25% in active users, allowing members to deposit 39,915 checks by simply taking a picture of them within our app instead of having to visit our branch in person.
FUNDED PPP LOANS TO HELP LOCAL BUSINESSES
We funded more than 400 Paycheck Protection Program (PPP) loans, providing the most PPP loan dollars of any credit union in the state. These funds allowed member businesses to continue to pay their employees.
FINANCIAL ASSISTANCE FOR MEMBERS
More than 400 members who were negatively impacted financially by COVID-19 were able to use our fee-free COVID Skip-a-Pay program or withdraw funds from a CD with no penalties.
CONTACTLESS PAYMENTS MADE POSSIBLE
When no one wanted to touch public surfaces, we encouraged members to lean in to contactless payments like Apple Pay®, Google Pay® and Samsung Pay®. The number of Town & Country debit and credit cards stored in a mobile wallet increased more than 12x in 2020 allowing members to complete 23,846 transactions.
YOUTH ACCOUNTS
Pee Wee members and their families had the opportunity to attend several free events that we hosted in 2020.
I SAVED A MEMBER
Saving members money is one of our favorite ways to Positively Impact those we serve. And how do we save them money? By offering some of the best products, services and rates in the market and proactively looking for opportunities to help members save! Here are a couple of our favorite “I Saved a Member” stories from this past year:
REWARDING OUR MEMBERS
$3,618,548
$88,875
$280,113
Dividends Paid
$321,700
Cash Back
$101,825
ATM Fee Refunds
MAKING HOME HAPPEN
We helped members secure 1,417 mortgages for home purchases, remodeling, debt consolidation, new construction, lot purchases and refinances. 408 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.
98%
of mortgage borrowers surveyed said they would refer us to their friends and family!
The pandemic posed a challenge for our business and ag members, but we stepped up to help them not only survive but grow.
225 New Businesses Joined Town & Country in 2020
$28,205,483 Ag & Commercial Loan Growth
$17,406,450 / 425 PPP Loans in Round 1
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 now Bottineau areas who can help you compare prices and benefits and determined the best policies for you.
TOWN & COUNTRY IMPACT AWARD
These employees were nominated by their peers for embracing the Mission, Vision and Values of Town & Country. The 2020 recipients each received a $500 cash award and the opportunity to donate an additional $500 to the non-profit of their choosing.
EASTERN AWARD RECIPIENT
LIZ JOHNSON, Lead Business Loan Associate
Liz is a true team leader whose knowledge and strong work ethic keep the credit union’s business loan department moving. While managing hundreds of Paycheck Protection Program (PPP) Loans, as well as her team’s typical workload of commercial and ag loans, Liz truly went above and beyond to positively impact the credit union’s ag and commercial members in 2020. Her nominator had this to say: “Liz has been crazy busy these last few months! She has worked very hard and I applaud her efforts. In short, Liz is a rockstar teammate!”
WESTERN AWARD RECIPIENT
STEPHANIE SILVERTHORN, AVP Human Resources
Stephanie is respected for her expertise and is a passionate advocate for the staff at Town & Country Credit Union. Since joining the credit union in 2014, she has filled multiple HR roles before moving into her current position in the spring of 2020. Stephanie has played a vital role in the credit union’s response to COVID-19 and supporting the staff during this challenging year. Her nominator had this to say: “Stephanie is always trying to figure out ways to make employee’s lives simpler with the ever-changing laws and regulations while balancing what’s best for the credit union. She has truly made a difference in the credit union and the open door culture she has created for Human Resources.”
89% of employees surveyed state they understand how their role contributes to Town & Country’s strategies and goals.
EMPLOYEES GIVING BACK
This year, in addition to donating to nonprofits, we put a focus on supporting our local businesses, students and teachers who were facing extra challenges.
- Spent more than $5,000 on gift cards from local businesses to give to members and staff.
- Bought lunches and other treats to support local and reward our staff.
- Gave out more than $1,000 in giveaways to local teachers while schools were closed.
- Created coloring sheets and offered Banzai financial education games that parents or teachers could use to keep their children entertained while they were at home.
In 2020 we received the following local and national recognition.
- 5 Star superior Rating from Bauer Financial.
- A+ Health Rating from depositaccounts.com.
- 1st Place Minot Daily News Reader’s Choice Awards Best Credit Union.
- 1st Place Marketing & Communications Award from the Dakota Credit Union Association.
- 2nd Place Dora Maxwell Award from the Dakota Credit Union Association.