Annual Report 2007
Chairman and CEO’s Report
Helping members turn dreams into reality is a big part of what we do every day to serve Eastman Credit Union members!
For over 73 years, ECU has been providing exceptional value and service to our member-owners. The extensive use of ECU
products and services reap major benefits that enable ECU to make even more dreams come true for member-owners.
In 2007, ECU continued to ensure the safety and soundness of the organization. Assets grew $12.77 million per month or $153
million over the year. This growth equates to an 8.6% increase with total assets reaching $1.93 billion. In addition, membership
continued to flourish throughout the year as we increased at a rate of over 1,000 new members per month.
Solid growth, coupled with ECU’s financial stability, allowed us to concentrate on expanding branch locations to better
serve our members. We were able to add a new Bristol branch location and additional staff across the organization to better
accommodate our members’ needs. Additionally, changes in our share certificate rate structure make it easier for members to
renew their certificates for the term of their choice at very competitive rates.
In September, a�er more than a year of evaluating, planning, training and testing, ECU converted to a new information
technology system which now puts ECU on the cutting-edge of technology and will allow us to better serve our member-
owners for many years to come. The system conversion process was challenging and caused some member service issues;
however, ECU staff has worked diligently to address and resolve the issues as soon as possible.
In late December, ECU announced a $4 million, eleventh consecutive Extraordinary Dividend payout to member-owners,
totaling nearly $34 million paid to members since 1997. The Extraordinary Dividend is a significant difference that sets ECU
apart from other financial institutions in our markets.
ECU also believes in giving back to the community and making a positive difference i