A Message from the CEO

Dear members,

Pima Federal remains committed to the three-fold mission of helping members achieve their financial hopes and dreams, improving the economic condition of surrounding communities, and ensuring the safety and soundness of member-owned assets.

In 2012, the local and national economy continued its slow improvement.  The Federal Reserve's monetary policy resulted in market interest rates declining to historic lows, resulting in lower deposit and loan rates.  While this rate environment negatively affected savers, it positively affected borrowers, providing an opportunity to buy vehicles and homes at all-time low rates. Members took advantage of these low rates as evidenced by the credit union's 17% record loan growth for the year.  Meanwhile, deposits grew by over 5% and the credit union opened a record 6,442 new accounts.  The credit union completed the year on solid financial footing, netting a profit of $2.3 million and remaining well-capitalized with a net-worth ratio of 10.6%.  With another strong financial performance in 2012, the credit union maintained a 5-star rating with Bauer Financial.

As a cooperative that exists to provide value to its members,  Pima Federal continued to keep fees to a minimum throughout 2012.  Additionally, we began the process of rolling out a new Credit Card program (coming in the second quarter of 2013), and we believe our new cards will provide great value to our members.  Lastly, we challenged ourselves in 2012 to give back more to the community, and I am proud to say we volunteered over 1,400 hours in the community and gave over $80,000 to local organizations.

As we prepare for our Annual Meeting, I offer my sincere gratitude to our Board of Directors, Supervisory Committee, Delinquency Committee, and Loan Review Committee for their continued dedication to the credit union.  As members, you have elected these individuals to represent your interests, and they continue to fulfill your mandate.  I express my wholehearted thanks to our employees for having confidence in what we stand for as an organization and for focusing on what's important-serving our members and communities.  And most importantly, I am thankful for your loyalty and trust in Pima Federal after all, we exist because of you!

Wishing you the best in 2013!

Nathanael