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A Message from Mark Hawkins, Altura Credit Union CEO

From Altura’s 2012 Annual Report

Dear Members,

I am proud to report that 2012 was an outstanding year for Altura Credit Union. In fact, it was without question the best year in Altura’s long history. For the year ended Dec. 31, 2012, Altura reported net income of $17.41 million on assets of $655.4 million, more than double the net income reported for 2011.

This turnaround began in the second quarter of 2011. It continues into 2013 with Altura’s eighth consecutive quarter of net gains when we reported net income of $4.97 million in first quarter 2013. Altura also has reported 22 consecutive months of remarkable performance, contributing $28.32 million to our Net Worth.

Other notable achievements in 2012 included boosting our Net Worth Ratio to 10.34% at the end of 2012, the highest in our history; restaffing our Murrieta Branch location and returning it to full operations; and being named “Best Credit Union” by the readers of The Press-Enterprise in its 17th Annual Readers’ Choice Awards.

Ready to Help You Move Forward

Despite Altura’s solid 56-year history, the “Great Recession” stopped us in our tracks, as it did many of you. It was the most difficult economic period in our country in 80 years, and its ramifications are still reverberating, especially herein the Inland Empire.

The country is seeing improvement nationally and regionally. In our local market, however, while housing sales and prices have begun to climb, slow job growth continues to hinder our full recovery.

Yet, the region’s rebound is good news not only for Altura, but also for our Members and our communities. We are well prepared to assist our Members in getting their financial lives moving in the right direction. And, we will maintain our active role in contributing to the communities in which we do business to make them better places for all of us.

Now that Altura is again on solid footing, we are reaching out. We can see that despite improvements in the economy, many Members are still feeling the effects of the challenges left behind by the recession. We are creating new products, like Reliance Checking (read more about it on page 6), and we are holding financially-related workshops to share information and build skills.

We realize that many Members were reluctant to borrow during the last few years – understandably so. But, historically low loan rates and terms make this a terrific time to borrow money. And Altura has money to lend to help Members ready to invest in their future. It’s a great time to buy a new car, improve your home or buy a new home. We look forward to helping you achieve your financial dreams.

Looking Ahead

We have all come through a very difficult time. Every trend points to ongoing recovery for the Inland Empire. We are so pleased to be part of it and contributing to it in whatever ways we can. We are thankful that we also can continue to support the community with contributions, talent, and scholarships for our young people.

For Altura, the support of our Members was crucial to our turnaround and, we thank you for standing by us. Now, we are delighted to continue our mission of delivering a warm and positive experience to every Member, every time.

Best wishes,

Mark Hawkins

*View the 2012 Annual Report (PDF)