Spring is a busy time at your credit union. We’re finishing first-of-year duties, most notably the completion of our external audit. We began using a new audit firm this year, BDK, LLP, a large CPA firm with extensive experience auditing large banks and credit unions. We’re pleased to report a “clean opinion” as noted in our 2011 Annual Report and proud of the results achieved for members. Financially, we are a strong credit union.
With year-end things out of the way, we’re moving forward on new initiatives I think you’ll find exciting. The most remarkable is our upcoming change to a new, more robust home banking platform. Our goal is to offer “best in class” electronic banking services to our membership.
Our new home banking platform represents a quantum leap forward in speed, functionality, security, and dependability. This is something we’ve been working on for almost two years and we’re planning to roll it out to you this autumn.
Home banking has become a “game-changing” service for members – me included. In fact, we process more home banking transactions than we do transactions in our Member Centers. And home banking continues to grow. That’s why we’ve invested considerable time and resources into bringing members a “best in class” home banking solution, scheduled for full implementation this fall.
Here are just some of the new things you’ll be able to do with WPCU’s online Home Banking:
- Manage account balances, bills, and budgets on one screen;
- Easily view past transactions, make quick transfers between accounts, pay bills, and view your most recent spending at a glance;
- Provide a “deliver by date” system for bill payments that guarantees your bills paid via home banking arrive on time;
- Transfer funds between WPCU and more than 23,000 other financial institutions;
- Deposit checks to your accounts using a mobile app;
- View accounts you have at other financial institutions;
- Access a special “personal finance manager” to track spending, set budgets and manage your cash and debt at WPCU and over 16,000 other financial institutions;
- Send money securely to others using email or text messages;
- Best of all, WPCU’s online Home Banking will still be free!
We have other improvements moving through the pipeline also. Later this year we’ll start construction on a new Member Center in Springboro – across from Dorothy Lane Market. We’ll also start on a new free-standing Member Center in Springfield, bringing drive-thru convenience and a larger building for members in that part of our service area. Both Member Centers are scheduled to open in the first quarter of 2013.
And there is so much more. The fact is WPCU’s growth continues to be off the charts, despite today’s challenging economy. Membership is growing at around 10% per year, deposits and assets are on pace to increase almost 30% this year, and by helping members refinance high interest loans we are growing loans at more than 15% while helping members save millions in interest. We’ve just completed a strong first quarter, and are getting ready for the excitement that comes with spring and summer.
I like being able to give these kinds of updates. Your credit union is doing well. Our employees are doing well. We hope you and your family are doing well also, and that we are helping you make the most of your money.
Thanks again for choosing to be a member. We appreciate your trust.
Douglas A. Fecher
President & CEO
Wright-Patt Credit Union, Inc.