A Word from Our CEO: Bryan Myers

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As a valued member of VacationLand Federal Credit Union, you are not just a customer building profits for stockholders; you are one of over 16,400 owners in a not-for-profit cooperative which pools its resources for the benefit of all members.

Consequently, each and every member-owner, whether a founding member going back to 1956 or one that joined yesterday, is highly important to the success of our credit union. We truly appreciate everyone's involvement and hope that you, and all members, will continue to have confidence in our staff and services as we move forward in 2014.

As a fellow owner, I am very pleased to report that 2013 was a banner year for VacationLand. Our year-end financial statements show a manageable 5.42% asset growth and a very strong and healthy 1.00% return on assets. Our capital ratio continues to get stronger year over year ending 2013 at 10.38%, still well above the "well capitalized" floor limit set by the NCUA. For last year, management spent a considerable amount of time on the annual budgeting process, and as a result, we remain at the upper end of our credit union peer group in all financial categories. Our most important asset, our member-owners, grew by 2.64% as we welcomed 422 new members to the credit union in 2013. I hope that our new members are finding the experience as valuable as those that have been with us for many years.

Our 2013 project list was aggressive to say the least; however, we were able to accomplish many items that make the credit union better and more efficient for all members. Topping the list was the start of construction of our new Hayes branch and administration facility. This project replaces our existing, outdated and inefficient building with a modern, environmentally green facility that reduces our carbon footprint. Also important, it will give the credit union five to ten years of growth capacity. Other accomplishments in 2013 included the implementation of a five-year IT replacement plan and successfully keeping abreast with compliance in an ever-changing NCUA regulations environment. In general, we concentrated on improving processes and preparing the foundation of the credit union for future stable growth.

So… what will 2014 bring? We expect to finalize construction on the Hayes facility in June or July and, once settled in, we'll celebrate with a member grand opening in late summer. One of the challenges we face this year is to develop products and services that will benefit our very diverse membership. In response, creating competitive interest rates and additional financial products of benefit to all members will remain a top priority. And, we will continue to pursue younger members through active social media outlets plus develop a functional website and mobile applications for those on the go. Our goal for 2014 is to definitely make the credit union easily accessible to all its member-owners.

The volunteer directors and supervisory committee members, staff and management of VLFCU remain dedicated to the credit union's core values, and collectively we are committed to providing you, our owner-members, with the best financial services to meet your specific needs. Please stop in and visit us at any of our locations. We look forward to meeting and serving you in 2014.

Thank you,

Bryan P. Myers, CEO