Since 1934 when the Federal Credit Union Act was enacted in the midst of the great depression, credit unions have been authorized to make much needed credit available to people in financial need. Since that time, helping people reach, maintain and succeed financially has been the mission of the credit union industry. While needs, processes and compliance have vastly changed over the years, our reason for existing has not. We continue to be a not-for-profit, member-owned and operated financial cooperative that directs earnings back to the members we serve in the form of competitive rates, lower fees and more personalized service. In short, we return value to our membership instead of giving it to outside investors and stockholders. Since VacationLand’s inception, the one thing that remains constant is change, but our goals and mission remain strongly focused on the financial success of our membership. 

As CEO, I am pleased to report that the credit union remained financially strong and healthy in 2017, embracing all the industry changes that faced us. Our year-end financial statements show a very manageable 6.01% asset growth and a very healthy .80% ROA. Our capital ratio continues to get stronger ending 2017 at 10.56%, still well above the NCUA’s minimum “well-capitalized” floor. As in recent years, VLFCU remains at the upper end of our credit union peer group in all financial categories and ratio classifications. Finally, our membership grew by 3.49% as we welcomed 635 new member-owners to the credit union experience.

One of our main goals year over year is to remain in the top tier of Ohio credit unions; but accomplishing this is no easy task. Long-term success hinges on our ability to grow the credit union while ensuring the financial needs and the personalized service our members are accustomed to continue to be met. The Board of Directors, management team and staff spent last year concentrating on implementing the initial phases of a long-range-plan that has been in serious development over the last several years. I am proud to report in 2017 we made great strides towards three main objectives of this plan: field of membership (FOM) expansion, additional non-interest income streams and updated technology for membership use. These three key areas will help maintain the growth and stability of the credit union now and in the future.

Finally, I want to formally welcome the members of the Sandusky Ohio Edison Employee Federal Credit Union to the VLFCU family. I personally want to thank each of you for choosing VacationLand as your merger partner. While change is never easy, I hope that our expanded products and services are everything you expected, and your member experience exceeds your expectations.

On behalf of our dedicated Board of Directors, volunteers, management and staff, thank you for making VLFCU your financial partner. We pledge to remain dedicated to the credit union’s core values and provide you with outstanding financial services to meet your specific needs. Thank you for your continued confidence in us and your loyalty.


Bryan P. Myers

Chief Executive Officer