The following message is Part 2 of the message written by Truliant President and CEO Marc Schaefer for our 2014 Annual Report. The first part of this message can be found here. We're making it available through our blog as as a reminder for Truliant's 2016 Annual Meeting on Monday, April 25, 2016 at our headquarters located at 3200 Truliant Way, Winston-Salem, NC 27103. The meeting will be held at 7 p.m. in the Fred J. Sarda Pavilion on the Truliant Way campus.
We’re quickly becoming more and more local in our markets as we add Member Financial Centers
, more recently in Winston-Salem, and in the Charlotte area
We’re also becoming more convenient with our advanced feature ATMs, more robust Member Contact Center access points, and as we add to our suite of advanced electronic banking
Most importantly, you can trust Truliant to have your best interest at heart, even if that means the Credit Union doesn’t always get your business or earn as much as it might if we sold you something that didn’t really help you reach your goals. There are no stockholders or venture capital investors to be paid, only member-owners like you who receive their dividend in the form of lower loan rates, higher savings rates, low fees and better services.
In addition to Ben’s checklist
, we ask if we improved members’ lives by providing them with better guidance and services. Did we help our Business Partner
companies in their quest to help their own employees make better financial decisions and build better foundations? Did we help our small business owners reach their goals while also strengthening their financial position for future growth?
In course of serving our members this year, we completed over 155,300 TruFinancial Checkups matching members with nearly 118,000 services. We conducted over 23,000 No-Cost Credit Reviews, provided over 17,800 auto, 2,100 home equity and 380 first mortgage loans. We made over 110 small business loans representing over $48 million in investments in our communities. We continued to lower members’ cost-of-financing and saved them significant interest expense that was being paid to alternative, higher-priced providers.
It is difficult to calibrate the value of guiding a member to make better, long-term financial choices. Those results are not immediate and rates are not as important as the choices made. For example, the decision to take out a $25,000 car loan instead of a $40,000 one and allocate the difference to a college fund could be critical to a members’ future, but it’s hard to quantify the benefit today. Truliant’s commitment to the member’s best interests allows us to help our members make these life-empowering decisions.
As we look to 2015, we approach the year with optimism for a better economy with lower unemployment and stronger household earnings that will allow for the accumulation for strong financial foundations. Whether that holds true or our member households continue to experience the lingering effects of the recession, Truliant will be there to provide the support our members need in managing their financial lives.
We are grateful for the support of our member-owners, Business Partner companies and our small business members for placing your confidence in Truliant. With your continued support, we will brighten the prospects for tens of thousands of households for the next six decades and beyond.