How Goes It

[ 0 ] January 22, 2020 |

IAACU QUICK FACTS
Data as of 12.31.19

HQ: Bloomington, IL
ASSETS: $274.1  Million
MEMBERS: 16,855
12-MO SHARE GROWTH: 8.39%
12-MO LOAN GROWTH: 6.83%

How Goes It

One of the Air Force Units in which I spent time as Squadron Commander had daily “How Goes It” meetings. The purpose of these meetings was to clearly communicate the status and priorities of the day’s workload to those on the team. We could then focus our limited resources on activities which had the most impact on ensuring mission success.

Clear and timely communication of priorities has an equally important function in our culture at IAACU.  It is imperative that everyone on our team knows our goals and their role in completing them for us to best service our members. Also, as a financial cooperative, our members need to know how the institution is doing, as well as our upcoming priorities.

One of the best channels for communication is the IAACU Annual Meeting which will be held on February 21, 2020 in Bloomington, IL. At that time, our Management Team and Board Directors will provide a full overview of 2019 to those in attendance. As most of our members can’t be there for the annual meeting in Bloomington, I’ll use this issue of the IAACU Money Rep to share some of the highlights.

I am happy to report to you that 2019 was IAACU’s 14th consecutive year of net growth of assets, loans, members, and capital (member’s equity). Assets grew by 8.63%, loans by 6.83%, members by 2.0% and capital by 9.77%. We are now ranked 28th among Illinois Credit Unions, as measured by total assets managed. This is important, as our growth and financial success directly relates to what we can do to provide more value for our members and the communities we serve.

Our top priority for 2020 will be ensuring IAACU remains a forward-thinking institution, to best provide the products and services our members desire.  Please don’t hesitate to let us know how we can better serve you.

 

Thank you for your continued support and membership.

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Category: CEO Corner

About the Author ()

Sean has been the Chief Executive Officer at the IAA Credit Union since June of 2005. He is a graduate of Illinois State University where he received a Bachelor of Science Degree in Agribusiness with a minor in Economics. Sean and his family live in Eureka, Illinois.

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