2020 Annual Report Cover2020 Annual Report

From modest roots to a thriving community credit union, VacationLand Federal Credit Union embraces what it takes to provide products and services that benefit our members now, and well into the future. Our members give us the strength and motivation to move forward.

We are happy to report that our capital position remains strong and our financial ratios remain in line with industry standards. While facing down the year’s fiscal challenges, we were still able to assist our members dealing with financial difficulties resulting from job cutbacks or loss by offering loan forbearances, fee waivers, and low interest short-term loans among many other accommodations.

We thank our employees, Board and Supervisory Committees for their hard work and dedication to VacationLand. We thank you, our members, for your continued support and look forward to a safe and prosperous 2021.

Click here to download the PDF


2019 Annual Report

We're happy to report that 2019 was a healthy financial year for us. Our 2019 financial statement shows:

  • Asset growth of 6.97%
  • Loan growth of 3.83%
  • ROA of .92%
  • Capital ratio of 10.98%
  • Membership increase of 1.92%

VLFCU remains in the upper tier of our credit union tier group, in all ratio categories.

Some of our plans for 2020 include streamlining loan and deposit processes for improved member service, including IT-related processes; developing a formal succession plan for pending key retirements; and continuing to identify and implement non-interest revenue streams to support our long-term success.

Click here to download the PDF


2018 Annual Report

We are pleased to report that the credit union faced all the changes and challenges imposed upon us head-on and remained financially healthy in 2018.

Our 2018 financial statement conveys a 7.34% asset growth, (compared to 6.01% in 2017), as well as:

  • Loan growth 11.08%
  • ROA increase to .99%
  • Capital ratio of 10.80%

We also grew our membership grew by 3.12%, an increase of 588 discerning new partners.

Click here to download the PDF


2017 Annual Report

We are pleased to report that the credit union remained financially strong and healthy in 2017. 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% – 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.

Click here to download the PDF


2016 Annual Report

We experienced another great year in 2016. We reached a new milestone last year when we surpassed $200 million in assets! I can recall not too long ago when we reached $100 million in assets. That year during our annual strategic planning session, we made a statement and a goal to reach $200 million in assets. With your support and investment into our credit union, I am happy to say that we have reached that milestone!

Click here to download the PDF


2015 Annual Report

Looking back at last year, once again VacationLand experienced financial success. We exceeded our expectations in asset growth, member growth, and loan growth. We will continue to look for new and better ways to serve our members, and at the same time, we will look to add membership. The Board and staff realize that we can only accomplish our goals with the support of our members. We look to the future with a great deal of optimism. 

Click here to download the PDF


2014 Annual Report

On August 14, 1956, eight people from the Sandusky General Motor’s plant each pooled $5.00 of their own money to form what we know today as VacationLand Federal Credit Union. The dream of these eight people was to create a cooperative financial institution that would provide low cost loan and deposit services to friends and co-workers who were “underserved” through normal channels. Simply put, their goal was “people helping people”. Today, we truly appreciate the foresight of those eight individuals as the credit union has grown to over 16,800 member-owners serving all of Erie County and select groups in Huron County.

Click here to download the PDF


2013 Annual Report

2013 was a banner year for VacationLand FCU. Financially we had one of our very best years ever. Our Net Income increased by nearly 33%, while Assets grew by over 5% to $155 Million, and key ratios exceeded national peers in most categories. 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.

Click here to download the PDF

2012 Annual Report

2012 was another successful year at VLFCU. We continued with our branch renovation project finalizing the upgrades of our Vermilion and Perkins offices. Our membership expanded and topped the 16,000 mark for the first time. Financially, the credit union remains strong and our capital position is moving in the right direction. 2013 will bring additional challenges that include a long-term commitment in rebuilding the Hayes office, continued regulatory pressures and very thin interest rate margins. We look forward to taking on these challenges and we remain committed to providing affordable and responsible financial services to all whom we serve.

Click here to download the PDF

2011 Annual Report

Despite the economic uncertainty in 2011, our credit union performed very well. Guided by the board of directors, strategic decisions made in 2009 and 2010 allowed for the credit union to emerge from the financial crisis and post one of the strongest credit union performances in the last 16 years.

Click here to download the PDF

2010 Annual Report

The year 2010 was certainly a challenging one.This whirlwind effect was aided in part by all of the outside forces that saddled our credit union. Much of our agenda for 2010 was playing "catch up" from the Corporate Stabilization Act – which is not behind us yet. The losses in natural person credit unions in 2010, some in our backyard, added a great deal of pressure to heightened regulation, a call for deeper and more meaningful due diligence, enhanced Asset Liability Management initiatives, stronger policy and guidelines, and a call for a more conservative approach to operating the credit union.

Click here to download the PDF

2009 Annual Report

Despite a turbulent year for the financial industry, 2009 was a year of SUCCESS for VacationLand Federal Credit Union. We grew over 17% in asset size; and, despite the National Credit Union Administration's special assessment for all credit unions, we remained profitable, safe and sound, and offered one of the best levels of financial security that one should expect.

Click here to download the PDF

2008 Annual Report

2008 will be remembered as the year VacationLand re-invented ourselves—we rolled out a new logo with fresh colors, expanded our business lending product line and became more visible in our community.

Click here to download the PDF