President’s Report “TFCU and its employees recognize the importance of giving back to our communities.” 2016 was a year of transition at TFCU. Our biggest venture was the replacement of our core operating system with a more advanced, streamlined system. Unfortunately, it is not uncommon for such a major undertaking to cause some bumps in the road. For our members’ patience during those times, we thank you. On the bright side, this laid the foundation for us to continue to add new technologies, thereby enhancing our offerings to ensure that we continue to offer the best value and highest level of service. We will soon be launching a new, state- of-the-art, online banking system. Once this is accomplished, you’ll have access with even more convenience, capabilities, and improved navigation, vastly improving your online banking experience. With new We look forward to continuing this trend, allowing even more of our In 2016, TFCU helped more people finance their autos than ever before. technologies comes the need to secure them. This year, we began you against possible fraudulent transactions. transactions, you can rest assured that we are doing our best to protect which members can set up to alert them via text to numerous types of technology, the EMV chip. Combined with our new text alert service, issuing our members new credit cards that contain the latest in anti-fraud members to benefit from our exceptionally low loan interest rates. We’re proud to offer some of the best rates around for auto loans/leases, mortgages and home equity lines of credit. Additionally, we continue to offer checking accounts with no fees and with no stipulations, further enhancing your personal banking experience. TFCU and its employees recognize the importance of giving back to the communities in which we serve and live. Our Community Involvement Committee, Team TFCU, continued to support our communities by raising funds for organizations such as: Memorial Sloan-Kettering; Little Flower Children’s Services; Nassau Suffolk Services for Autism; Thomas Cutinella Foundation, LI Head Start, United Way of Long Island, and many more. I am happy to report that TFCU has once again performed well in a challenging economic and regulatory environment and saw growth in membership, loans, deposits and assets in 2016. The statements and graphs contained in this report will illustrate our growth in each of these areas. Please know that all of us at TFCU are here for you. We plan to continue the great culture of service and commitment to our members by putting you first and investing in the products and services that best meet your needs. Our primary focus will be to continue to offer friendly and efficient service, excellent products that are beneficial to you, and to maintain competitive loan and deposit rates. I would like to thank our Board of Directors, volunteers and staff for another impressive year. Their hard work and dedication have been pivotal in the credit union’s success. Most of all, I would like to thank you, our members. Your loyalty and dedication have lead us to be a successful credit union for nearly 65 years. We look forward to continuing to serve you. Robert G. Allen President/CEO
