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President's Page

We are pleased to report that 2013 was an outstanding year for IU Credit Union. Thanks to the ongoing support and loyalty of our members and dedicated staff, a number of significant results were achieved.

Total assets increased by $28 million, or 3.8%, ending the year at $754 million. Net worth, a key indicator of safety and soundness, stood at over $93 million, or 12.4% of total assets. IU Credit Union is well positioned for continued strong financial performance.

Total loan balances increased $52 million, or 12.5%, in 2013 after an increase of $53 million, or 14.4% in 2012. In 2013, total retail loan balances increased by more than $25 million, or 7.8%, with residential real estate loan originations totaling more than $100 million. For the fifth consecutive year, we led the local market in residential real estate lending. Business loan growth was equally impressive as total balances increased by more than $27 million, or 28.8%.

"IU Credit Union is
well positioned for
continued strong
financial performance."

Another key achievement in 2013 was the relocation and opening of a new Whitehall Branch to better serve our westside members. Additionally, we converted our debit and credit card processing to market leading service providers while upgrading to the MasterCard brand. Both changes allow us to provide long-term added value and benefits to our cardholders, including rewards programs, travel assistance services, extended warranties and more. We completed a thorough Branch Delivery Analysis to evaluate our overall branch network and future branching opportunities.

IU Credit Union remains dedicated to the communities we serve. Each year we award $31,000 in scholarships to students in eleven area high schools, Indiana University and Ivy Tech. Our United Way workplace campaign raised more than $40,000 through employee pledges and Credit Union contributions. IU Credit Union employees provided financial education and literacy workshops at local schools and volunteered in local agencies such as Hoosier Hills Food Bank and Community Kitchen.

We thank our members for voting IU Credit Union as the Herald-Times Readers' Choice "Best Bank/Credit Union" in 2013 for the seventh consecutive year.

In 2014 we will expand our electronic service delivery offerings with eNotices, eSignatures, and Remote Deposit Capture. In order to improve efficiency, enhance service delivery and ensure application of best practices, we will complete a comprehensive assessment of the retail lending and member service support functions. We will establish a comprehensive Enterprise Risk Management program to address the increasingly complex landscape and heightened regulatory environment.

On behalf of our Board of Directors and employees, we thank you for your continued support and confidence in IU Credit Union.

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