- Annual Report
- Code Of Ethics
- Credit Union History
- Membership Eligibility
- Membership Benefits
From Altura’s 2018 Annual Report
I am pleased to report that 2018 was Altura Credit Union’s eighth consecutive year of economic growth. We ended the year with more than a 40 percent increase in our Net Income. Total Assets grew by 10.67% to $1.42 billion. Loans and shares were up. In short, in every measurable way, the credit union performed exceptionally well. That’s important because our success as an institution facilitates what we can do for Members and how we can make positive impacts on the communities we serve. That’s really our bottom line and what distinguishes us from banks. It’s why we are here.
One of the things we started in 2018 was a Member Feedback Survey. It helped identify issues and reinvigorated our response to them. Listening closely to Members guides us in determining how we can improve the Membership experience. One decision we made, based on the survey, was to leave the shared branching program. That’s resulted in short wait times for Members, at even our busiest branches. In addition to survey generated changes, we made the obvious choices too, such as lowered fees and increased dividend rates.
I take tremendous pride in the fact that the Credit Union Journal ranked us number 1 in California on their annual list of Best Credit Unions to Work For. We were listed 4th nationwide among credit unions with assets of more than $1 billion and 11th overall among the more than 6,000 credit unions in the country. We believe in maintaining a diverse, flexible, stimulating corporate culture; we always want to be seen as an employer of choice. I believe that the best talent wants to be here when we are the best place to work for. I know firsthand that when employees value the place they work, they value the people they serve.
Last year was a busy one for the Altura Foundation. Our Board approved additional investments which resulted in more college scholarships being awarded. We are a sponsor of the Civil Rights Institute, Inland Southern California. And we made a generous contribution to the Cheech Marin Center for Chicano Art, Culture & Industry at the Riverside Art Museum. We consider that an acknowledgement of Riverside’s Latino past, present and future. We’re proud it was our donation that put the project over the top on its fundraising goal. When it opens in 2020, The Cheech will inspire and certainly enrich the lives of those in our local community.
2018 was my first full year as CEO and the first real opportunity I’ve had to focus the organization into one that shares my vision. We have always been, and always will be a Member-centric institution. I never want to see that change; I want to see it emphasized even more. We have always played a supportive role in the communities we serve and I’d like to see that become more of a leadership role in the future. It’s been said that the most important thing a leader can do is to have the desire to help others to succeed. I do.
I want to thank the Board of Directors, the Altura team, and our Membership for a very productive, wonderful year.