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Growth & Upgrades

A Message From the CEO – Trisha Baker

It is always amazing, and humbling at the same time, for me to look back on the past year and reflect on where LCCU started and where we have finished. Every year presents challenges and successes and 2023 is no different.

While the economy continued to be uncertain this year, the trust our members have had in LCCU to be guardians for their money has been consistent and growing. We have grown substantially from $214 million in assets in 2022 to $240 million in 2023. This means not only has our

membership grown but members have entrusted us with more of their hard-earned money. This growth allows us to offer more products and services to ALL members.

Remember in “It’s A Wonderful Life” when there is a run on the banks and George Bailey explains to his savings and loan members that their money isn’t in a safe in the back.

He explains that their money is in each other’s home because one person’s money was lent to another to help build their home. That is what is at the heart of a credit union. We all are in it together – to help each other! When LCCU grows, we’re able to help each member grow in one way or another, whether it’s through a home mortgage, an auto loan, and HELOC, or any one of our other services.

One of our major projects in 2023, and into 2024, is the conversion of our core system provider. What is that?

To put it simply, it is the processor that runs LCCU’s entire computer system. It was a major decision to make this change and one that was thoroughly vetted by the Board of Directors and our management team. While costly, it will bring more efficiency to the credit union, and we will not outgrow it – at least in our lifetimes. Our staff has devoted a lot of time to training on the new system behind the scenes, and the only disruption members will have is a two-day branch closure on January 31 and February 1 when we make the final switch from the old system to the new. If you do have regular business that takes place during that time of the month, please be sure to talk to us ahead of time so we can help you with any secondary source of payment you might need on those days.

As always, I am looking forward to what next year brings to LCCU. We know that you have a lot of choices when it comes to financial institutions. It is our goal to continue offering exceptional products and services to our members while making the changes necessary to keep LCCU the LC Valley’s best credit union. It really is a wonderful life being a part of LCCU!