A Year Full of Growth

A Message From the CEO – Trisha Baker

While 2021 was another year full of uncertainty, it proved how resilient LCCU is and how quickly we can adapt. We managed to not just hold our course but grow at an impressive pace! LCCU added more than 1,000 new members, grew our assets by more than 20%, completed and opened our new Bryden Branch and administration building, and had our biggest turn out for the annual Miracle Golf Tournament that raises funds for Sacred Hearts Children’s Hospital – just to name a few accomplishments!

As our communities began to open back up this year, our staff jumped right back into volunteering and we were able to again support many important organizations through sponsorships and donations. I am so proud to report that our team volunteered more than 1,200 hours in 2021. The LC Valley is such a great community so we were happy to get involved again after such a strange 2020.

The Credit Union also saw incredible growth in 2021. By year end, we sat at nearly $200 million in assets, up from $158.4 million at the end of 2020 and $127.5 million in 2019. That’s more than 50% growth in just two years. Part of that growth was due to a $1.8 million grant LCCU received in June 2021 from the U.S. Department of the Treasury as part of their Rapid Response Program for community development financial institutions (CDFIs), which LCCU is designated as. The grant was awarded to provide necessary capital for CDFIs to respond to economic challenges created by the COVID-19 pandemic, particularly in underserved communities. The grant went into LCCU’s reserves, helping us to deploy more loans to members in need.

We are on track to continue this upward growth in 2022 and look forward to continuing to offer exceptional products and services to our members. We know that you – our members – have many choices when it comes to banking. It’s our goal to have the LC Valley’s best member service and friendliest staff because you deserve it!