Chairman’s Report “In 2017, we continued to assist our members in their efforts to save money. ” Throughout 2017, TFCU continued to focus on serving our members’ and our communities’ needs. We remain committed to providing the best personal service, bringing convenience through technology and offering the best rates on loans and deposits. TFCU ended the year with $5.8 billion in assets and a strong capital-to-asset ratio of 10.45%. I am proud to report that this past year, TFCU continued to grow in assets, deposits, loans and membership. To better serve our members, in addition to our new Kings Park branch, we have plans to open three more branches this year in East Meadow, Center Moriches and Stony Brook. In addition to our 26 current branch locations, members also have access to their accounts at more than 5,000 credit union locations across the United States, including over 60 on Long Island. Shared Service Centers are perfect alternatives to a TFCU branch should you be traveling, away at college or staying at a second home all around the United States. As in years’ past, we once again received a 5-star rating from the independent rating firm Bauer Financial Inc. – the best possible rating for a financial institution. During 2017, we continued to invest in our employees, our communities and most importantly in our members. Your credit union continued to see strong membership growth and we continued to grant loans to our members and businesses in our communities, thereby helping members with a multitude of financial needs. In 2017, we continued to assist our members in their efforts to save money. By refinancing their mortgages with TFCU, our members were able to save hundreds of thousands of dollars. In addition, our TFCU Trust & Financial Services advisors, who offer their professional assistance, helped members to invest wisely for their future and maximize their retirement savings. Our remote delivery channels saw more enhancements and we had record growth in our mobile application usage, as members continued to move from accessing their accounts from their PCs to accessing accounts, paying bills and depositing checks using their mobile devices. The Financial Statements for 2017, included in this report, show that TFCU continues to be well positioned to serve its more than 287,877 members. With the strong leadership provided by TFCU’s management team, as well as the dedication and hard work of staff, TFCU will continue to focus on meeting the financial needs of our membership through outstanding quality service, convenient service delivery channels and competitive rates. Timothy M. Southerton Chairman, Board of Directors
