On behalf of all of us at Dort Federal Credit Union, Happy New Year!
For several reasons, 2013 seemed to come and go faster than any year I can remember. Many of us here at the credit union rolled our calendars to December and paused in disbelief… “Where did the year go?” I have some idea — we were very busy!
In January 2013, we started the year with 61,212 members. Since then, we’ve grown to more than 65,000 members, and added 25 new smiling faces to our Dort Federal team. Our hardworking team members facilitated an additional $40 million in loans to our members, ending the year with more than $359 million in outstanding loans! Another record year for our credit union.
The mortgage market teetered some throughout the year with small spikes and dips in interest rates. The low inventory of homes for sale kept first mortgages down in our area while the refinancing blitz also subsided. On the flip side however, many of our members are enjoying a new ride with auto loans spurring much of our new lending growth. We are extremely proud to be revered by our members as their “go to” financial institution for loans.
From all indications, 2014 is also going to be a strong year for our credit union. We’re excited about the addition of services like Mobile Deposit, giving qualified members the ability to deposit checks using their iPhone or Android mobile devices. Likewise, our eLending service is gaining traction too. Members can apply for a loan and close their loan online, without ever stepping foot into one of our offices. It’s an ideal service for our Military members, those who frequently travel, and anyone who prefers to do business via the internet.
In 2014, we’re continuing to build upon our business service offerings, including business lending. In 2013, we loaned more than $9.6 million to area businesses for building and construction, equipment, and project financing. We are excited about our business services growth and we’re proud to be a premier business lender in our area.
Additionally, our Visa Platinum CashBack Rewards program is becoming more flexible in February. You can read more about it in this issue of Shared Interest, but in short, our CashBack Rewards program is moving to our CashBack Flex Rewards. This change allows cardholders to redeem points for either 1% cash back or gifts and travels. With CashBack Flex Rewards, members no longer wait for their annual 1% cash back rebate. Instead, a minimum of 5,000 points can be redeemed for cash, anytime you choose.
We are very excited about the enhancements we’re implementing in several areas of the credit union. We invite you to visit us this year and let us personally show you some of the outstanding features of being a Dort Federal member… we’ll start with ways we can save you money!
Thank you for choosing Dort Federal Credit Union. Best wishes for a happy 2014.