I am pleased to report that as of this writing, the credit union is off to a good start in 2013. Management has completed and the board has approved our budget and business plan for the current year. Financially, we remain strong, reporting a capital position that continues to get stronger and be considered "well capitalized" by NCUA standards. We are currently reporting a very strong .77% return on assets which continues to be better than peer credit unions our size. For our younger members, we have successfully re-worked the Dollar Dog program, and finally, we continue to strive to give each and every member the financial experience and assistance they deserve and expect from their credit union.

I am also pleased to say that the final phase of the credit union's branch renovation plan will come to fruition in 2013 as we continue to finalize plans for the Hayes property. Our Hayes branch was slated last due to the overall size, scope and cost of the project. After much discussion and debate, the board and management have decided to move forward with a separate "single building" concept combining the branch with a two story administration building. Once complete, the current building will be raised making room for much improved traffic flow. As I have previously mentioned, the Hayes project will solve two critical issues for us. First, we have completely outgrown our current facilities and have no space to place any additional employees. With this project, we hope to create enough working space for up to ten years of growth. Secondly, the existing Hayes property is our oldest facility and continues to have maintenance and serious structural problems. With this project, our goal is to build a safe and pleasant working environment for all staff as well as our members while at the same time creating enough workspace for future growth. We have moved into phase II of the design for this project and anticipate formally starting the construction of the new building sometime in June or July. Completion of the project is expected in mid-2014.