2016 was once again a solid year for VacationLand Federal Credit Union as we executed our annual business plan, experienced sound financial growth, saw our asset size break through another barrier and witnessed measurable membership growth.  Although very positive, it was not a year without its challenges.  We faced increased regulatory oversight within the financial industry, stringent consumer compliance rules and regulations handed down by government agencies assigned to monitor our business, and we continued coping with an existing limited field of membership.  Then, at the end of the year, we sadly said good-bye to our founding SEG group, General Motors / KBI, as they closed their doors after more than sixty-five years of business in Sandusky.  Many of our member families along with many others in our area were deeply affected by the decision to close this industrial icon of our community.  I want each of our members to know that the credit union is here to offer its very best assistance through this difficult time to all those affected by the closure. 

I am pleased to report that in 2016 VLFCU’s year-end financial statements remained strong showing a very manageable 10.35% asset growth and a very healthy .85% ROA.  Our capital ratio increased slightly to 10.31%, much above the “well capitalized” floor limit set by the NCUA, and loan and share growth averaged 8.43% and 10.55% respectively.  As a result, VLFCU remains in the upper end of its credit union peer group.  

Our goal for 2017 and beyond is to remain in that top tier of Ohio credit unions.  But retaining that status level will be no easy goal to achieve.   We are keenly aware that VLFCU’s long-term success is contingent upon its ability to attract new members and grow systematically while at the same time keep up with members’ ever-changing financial wants and needs.  For this reason, the credit union’s Board of Directors and Senior Management team have devoted the last four annual planning sessions to creating a solid long-range vision and plan for the credit union.  Our focus for the next several years will be field of membership expansion, non-interest income streams and updated technology for member-use.  At the same time, we will ensure that our core values and mission are maintained, and we continue to meet the needs of all members through competitive products and services.      

Since our founding in 1956, VacationLand Federal Credit Union has demonstrated its commitment to providing its members with exceptional service, outstanding value and a comprehensive array of products and services.  We feel privileged to serve you and to help you meet your financial goals.  Thank you for giving us the opportunity through your continued support.


Bryan P. Myers

Chief Executive Officer