Monthly publication from Western Cooperative Credit Union Volume 40, No. 5 May 2017 79th Annual Meeng held March 28, 2017 Report of the Board of Directors and President/CEO Advancing Together Advancing Together– it is important that we look beyond today to be sure we are meeng the needs of the future. We are pleased to report that your credit union remains financially strong in all key areas. We ended 2016 with $320 million in assets, $286 million in savings, and $188 million in loans. As shown in our audit report, we saw our assets decline in 2016. The decline is not a concern due to the fact that WCCU was growing very fast for several years. The slower growth has allowed us to maintain our strong equity posion. We have also managed good control of delinquent loans and loan losses. Western Cooperave Credit Union is in a strong financial posion. There will be challenges in 2017 with the decline in our oil economy and the struggles in the agricultural areas. As rates on loans and investments connue to remain low, our ability to earn strong income from these areas is limited. Managing rates and assuring the income necessary to provide demanded products and services is a challenge. WCCU did very well in 2016 in controlling operang expenses. We must manage products, services, and rates in the best interest of the credit union as a whole. The credit union strives to offer the products and services demanded by consumers at reasonable costs and with a delivery method that is convenient. Technology connues to move at a fast pace and we realize that to connue advancing forward, technological advances must be included. There are increasing requirements regarding regulaons in all financial instuons. Those requirements come with numerous costs and me dedicaon. We are a community credit union in western North Dakota and feel it is important to be involved in the communies where we conduct business. It is with great pride that we are able to give back to these communies through employee parcipaon, financial donaons, and other support to the local areas. We strive to do the best we can for our members and our communies. Your Board of Directors, Supervisory Commiee, Managers, and Employees will stay focused on the safety and soundness of your credit union. The elected volunteers work diligently in providing service to our members. Western Cooperave Credit Union is successful due to a strong team of commied individuals and loyal members. Be assured that we work to maintain a strong financial instuon as we advance together. Thank you for your connued membership and support. (Connued on the back page) Melanie Sllwell, President/CEO Larry Novak, Board Chairman Thank you for attending the 79th Annual Meeting! President/CEO: Melanie P. Stillwell Williston: Main Office 1300 Bison Drive PO Box 2237 Williston, ND 58802 701-572-4000 1-800-584-9220 Williston: Branch Offices 215 Washington Ave. 701-572-4000 Dickinson: Branch Offices 290 15th St. W. & 721 State Ave. Dickinson, ND 58601 701-227-0188 1-800-733-9228 Hebron: Branch Office 701 Main Street PO Box 504 Hebron, ND 58638 701-878-4063 Beach: Branch Office 60 2nd St. NE PO Box 366 Beach, ND 58621 701-872-2228 Glen Ullin: Branch Office 414 E. South Ave. Glen Ullin, ND 58631 701-348-3832 Ray: Branch Office 10 Main St. PO Box 158 Ray, ND 58849 701-568-3663 Tioga: Branch Office 6714 Hwy 40 S PO Box 1090 Tioga, ND 58852 701-664-2666 iTalk—Interactive Voice Response Williston: 701-572-4400 Dickinson: 701-483-9228 Toll Free: 1-800-588-0106 Website & NetTeller www.wccu.org WCCU Mobile App Download the mobile app and connect to your NetTeller today through your Google Play Store or Apple App Store on your Smart Phone! WCCU ATM Locations: Williston: Main Branch, Downtown, TrainND, Albertsons, Williston High School, & Law Enforcement Center entrance. Dickinson: North Branch Drive-Up & State Ave. Drive-up Beach: Drive-up Ray: Cenex Convenience Store Tioga: Pinnacle Travel Plaza Cooperative Insurance Agency, LLC 1300 Bison Drive PO Box 940 Williston, ND 58802 701-572-3292 WCCU Insurance Agency, LLC 290 15th St. W. Dickinson, ND 58601 701-483-0207 Krabseth Agency 1300 Bison Drive PO Box 909 Williston, ND 58802 701-577-2210 The products and services offered by Cooperative Insurance Agency, LLC and WCCU Insurance Agency, LLC are not federally insured; are not obligations of WCCU; are not guaranteed by WCCU or affiliated entities; involve investment risks, including the possible loss of principal.