President's Message January 2016

JeffSermon_2015

A Good Year

Overall, 2015 is being recognized by economists as a year of strengthening economic trends, solid job growth, and growing consumer confidence and spending. Against a backdrop of some fragility in markets, the continued low lending rates fueled consumer borrowing and as a result, UCCU saw strong growth in member auto loans, mortgages, home equity lines of credit, and member business lending.  UCCU’s loan portfolio grew over 20% in 2015 as members took advantage of low rates and purchase opportunities and UCCU is the number 1 mortgage lender in both Utah and Heber valley.

In addition to loan growth, uncertainty in the investment markets fueled strong member deposit growth resulting in an increase of $95 Million in deposits (11%) and $113 Million in assets. (12%). Members know that despite historically low savings rates, their hard-earned money is safe and secure at UCCU.

With capital well over 10%, UCCU is financially strong and stable and finished the year with strong membership, loan, deposit, and capital growth as members took full advantage of credit union services and products.

2016 An Interesting Beginning

Our stock market has struggled the beginning of this year as a result of uncertainties and challenges in certain global economies. A struggling China market has been largely responsible for the worst January stock market in several years. Some economists are even re-evaluating their forecasts downward for the nation’s 2016 GDP. Still others are predicting that savings rates will stay low until the national economy and local markets have stabilized. Trends in the local economy remain positive with solid job growth, strong real estate activity, and rising home prices.

We are optimistic about the future. Whatever your plans for 2016, UCCU is glad to be your financial partner, offering you and your family access to valuable information, stellar products and services, and everything else you need to help you achieve your financial goals.

We look forward to serving you and your family in 2016 and beyond. We are grateful for your trust and are committed to being your First Choice financial partner.

 

Jeff Sermon

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President's Message December 2015

Happy Holidays from UCCU!

JeffSermon_2015

At UCCU, we know that money is not the most important thing in life,but it is an important tool in providing for our families and assuring their security. As your financial partner, we at UCCU want to help you achieve financial success. We do this by providing valuable professional services and information. We also help you earn more on you accounts and pay less for loans and other financial services, so you keep more of your hard-earned money.

Local credit union members and noted musicians Roger and Melanie Hoffman stress this simple, but profound message in their delightful children’s musical series:

 Once upon a time there was a sorry little man 
Who said, “I must accumulate all the stuff I can.”
He went out in the afternoon to see a chimp or two.
And then before he knew it – he’d bought the city zoo.
When the snow was falling – he was a merry elf.
He wrapped up Christmas presents – and gave them to himself.
He said, “One more thing. I’ll buy one more thing.
I’ll buy until I’m happy. I’ll buy one more thing”
When he got to heaven he cried out in despair.
He had owned such lovely things, but none of them were there.
He said, “No more things. I have no more things.
Here I am in heaven with no more things.
It’s your heart that counts and the love you bring.
I wish someone had told me life is more than things!”
 
 

Although money is not the most important thing in life, successfully managing it gives you time and energy to focus on the things that are most important – like enjoying family, friends, and life’s special occasions.

On behalf of the Board of Directors and the UCCU staff, we sincerely wish you and yours a very Merry Christmas and a great New Year in 2016!

Sincerely,

 

Jeff Sermon

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President's Message October 2015

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Many people need breathing room when it comes to keeping monthly loan payments low – especially during the holiday season. If you need to consolidate high interest loan payments, give us a call. We have a number of solutions that … Continue reading

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President's Message August 2015

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Local Economy Strong This summer has been one of strong economic growth in the local economy. Utah has one of the nation’s lowest unemployment rates. Utah County is counted among the fastest growing counties in the nation. Consumer confidence is … Continue reading

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President's Message July 2015

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During 2014 and into 2015, the trends of economic recovery continued in the general and local economy.  Utah continues to see good job growth and boast one of the nation’s lowest unemployment rates. Home prices have stabilized and are beginning … Continue reading

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President's Message June 2015

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Inspiring Smart Summer Decisions As you may have noticed, there’s something we’re fond of saying here at UCCU: Inspiring Smart Decisions. Three simple words that mean a whole lot to us. This credit union was founded on the idea of … Continue reading

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President's Message May 2015

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UCCU’s “Buyer Relax” program was designed to put the consumer in control when purchasing the two largest items that most people will ever purchase – a home and a vehicle. We say buyer relax, because most of you know the … Continue reading

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President's Message April 2015

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Apple Pay Apple Pay in now available to use with all UCCU Visa debit and credit cards!  Apple Pay has enhanced security features that make payment more secure by not storing your card number on your device – it uses … Continue reading

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President's Message March 2015

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Buyer Relax We are all familiar with the phrase: buyer beware, but at UCCU we want you to be informed and confident when making big purchases. Last year the credit union provided a website with 10 of the best tips to … Continue reading

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President's Message February 2015

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2014 was a very successful year for credit union members and for UCCU. LOCAL ECONOMY Boasting one of the nation’s lowest unemployment rates, Utah is recognized as one of the most stable and economically sound states in the nation. According … Continue reading

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