From Altura’s 2013 Annual Report
I am very pleased to report that Altura Credit Union recorded another year of excellent performance in 2013, ending the year with Net Income of $11.2 Million on Total Assets of $678.9 Million. 2013 was Altura’s second best year in our 57 years of operation and it marked our third straight year of outstanding performance. Other metrics were similarly strong with our Net Worth Ratio ending the year at 11.63%, our highest ever!
A number of factors contributed to this success.
We have many years of solid Member support here in the Inland Empire. We know who our Members are and what you expect from your financial partner. During the depths of the recent recession we stood by our Members with financial support, when that was needed; and with educational and recovery skills as Members tried to save their homes, secure new jobs, and rebuild damaged credit. These are the things credit unions do to assist their Members in times of need and these are the kinds of things that distinguish credit unions in the marketplace.
But that’s not all. In 2013 our strong financial results permitted Altura to invest in new technologies, new facilities and in new products and advertising. We’ve also invested in new staffing and compensation, and in benefit programs that will permit Altura to retain its local, leadership position. These investments will also ensure that we can continue to meet your needs now and in the future.
And this year, in response to Member requests, we recently upgraded our online banking site and our mobile app. These new systems, featuring enhanced security features are increasingly important in today’s world. We are also in the process of adding enhanced lending functionality to our mobile channel that will make loan approvals faster, less intrusive, yet safer and more secure than ever before. As the local economy continues to gain traction, the future for all of us appears to be getting better and better!
Today, Altura is in great shape and we’re poised to continue building on these strengths while never forgetting that our success depends on you – our Members!