When we started this cooperative 65 years ago, we promised our shareholders that they would come first. After all, you’re the reason we’re so strong today. And we keep delivering on that promise in two key ways.

First, we always give credit where credit is due, by delivering our shareholders the cash they need when they need it—quickly and without hassle. We make it rain. A lot. That’s why FCCU is synonymous with MONEY.

The second way we deliver is through the dividends we pay you. Not only has our savings rate paid more than both banks and credit unions, we’ve also paid an additional loyalty dividend of over $20 million! Sure, that’s a lot of money, but you’re a shareholder in our cooperative and together we’ve earned every cent through your loyalty...

Putting our money where our mouth is

2018 Annual ReportCELEBRATING 65 YEARS 2

2018 Annual ReportCELEBRATING 65 YEARS 3

We know our hard working members aren’t just customers. They’re our friends, family, neighbors, and co-workers. They’re you, our owners, and the backbone of our financial success. You have all made an investment in us, and we, in turn, have invested in you—with over $71 million in loans in 2018 alone.

Our community partners have also been there for us. As you know, our members have some common bonds. Thanks to local employee groups and other associations we are able to continue to bring new members into our family so we can prosper. We hope that we have helped you prosper as well.

And let’s not forget our wonderful staff. From that friendly voice on the other end of the line to our Member Service Representatives and managers, they’re dedicated to this cooperative and have devoted countless hours to helping us give you the cash you deserve.

You've been so money for so long

ANNUAL MEETING ANNOUNCEMENTFinancial Center Credit Union will hold its 2019 Annual

Meeting and Elections on May 23rd at 6:00 p.m., at our Main Office, 18 S. Center Street in Stockton, California.

2018 Annual ReportCELEBRATING 65 YEARS 4

PRESIDENT AND BOARD MESSAGEFor 65 years, Financial Center Credit Union has operated under six core values: accountability, simplicity, egalitarian, family, fun, and safety and soundness. Under these six principles, the credit union continued to thrive in 2018, as an institution where members/shareholders can count on the diligence of our stewardship and guidance on the trajectory of our cooperative.

The Board of Directors encourages you to keep banking on our commitment to providing you access to financial soundness, so that you can continue to invest in a better future and cash in on the credit that you deserve. As you continue to utilize our products and services, we will continue to give back to our cooperative and the greater community. In that way, we will not only solidify your financial fantasies, but ensure the fulfillment of your children’s and grandchildren’s as well.

The Board of Directors thanks you for your support and your continued contribution to our cooperative. When you choose to partner with us, you help the Credit Union thrive. It is because of that support that your family, friends, and community will always be taken care of at Financial Center Credit Union.

Paying it forward

Michael P. DuffyPresident/CEO

John VeraChairman of the Board

CELEBRATING 65 YEARS 5

SUPERVISORY REPORT Every year, Financial Center Credit Union’s Supervisory Committee is trusted with the important task of overseeing the Credit Union’s records and accounting policies. The Committee works closely with Financial Center Credit Union’s staff and the Board of Directors to ensure policies and procedures are properly implemented.

We are pleased to report that your funds at Financial Center are safe, and your Credit Union is financially poised and prepared for future progress. As an additional safety measure, the Supervisory Committee, with the enlisted help of an independent accounting firm, conducted a meticulous evaluation of our records and deemed Financial Center stable and secure for future growth. The 2018 RSM CPA audit and our 25th consecutive year of Bauer 5-star rating substantiated Financial Center’s exceptional fiscal soundness.

This positive outcome is a direct result of the Board of Directors’ and President/CEO’s stellar leadership and vigilant management. We also thank our volunteers, management and staff for their commitment to service and accuracy. This commitment helps the Credit Union to prosper and maintain financial soundness for its member/shareholders.

Your money is in good hands

Edward FigueroaChairmanSupervisory Committee

2018 Annual ReportCELEBRATING 65 YEARS 6

Ring it up 2016 2017 2018

Income

Interest on Loans 11,492,127 11,347,896 10,910,615

Interest on VISA 1,680,016 1,665,632 1,686,683

Investment Income 3,341,564 4,166,027 6,353,702

Miscellaneous 5,465,232 5,587,731 5,630,046

Total Income 21,978,939 22,767,286 24,581,046

Expense

Dividends 1,797,765 1,911,435 1,999,109

Net Extraordinary Dividends 1,412,983 1,650,014 2,163,402

Other Expenses 15,184,594 15,622,191 15,702,714

Total Operating Expense 18,395,342 19,183,639 19,865,225

Assets

Loans 173,935,495 173,352,850 167,871,745

Cash & Investments 270,639,859 297,233,052 315,623,667

Furniture & Equipment 952,101 902,822 709,081

Land & Building 6,676,636 7,071,576 6,696,466

Other Assets 4,909,790 5,470,186 5,716,864

Total Assets 457,113,882 484,030,485 496,617,823

Liabilities & Members' Equity

Member Shares 358,190,209 379,399,808 390,847,618

Other Liabilities 8,957,585 11,553,621 10,211,796

Reserves 17,369,859 17,228,135 14,708,919

Undivided Earnings 72,596,228 75,848,921 80,849,490

Total Liabilities/Equity 457,113,882 484,030,485 496,617,823

© 2019 Financial Center Credit Union

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