Chairman's Letter

Lin Jones

Chairman,
Board of Directors

Dear Fellow Members:

It is my pleasure and distinct honor to present the 2021 Chairman's Report for Local Government Federal Credit Union. In doing so, I represent a team of volunteers and employees who have pulled together to serve you in the past year. These heroes deserve our heartfelt acknowledgement.

A company's annual report is a customary routine for most organizations. Each year, we read annual reports to get a sense of how an institution performed during the previous financial period.

Annual reports also shed light on the strategic future of what's in store for the institution. We read the leadership statements to learn what new products and services a company has, and the direction the company will take. COVID-19 has forced many businesses to pivot toward different directions and strategies. Some financial institutions have sought changes to their business models in search of greener grass.

Our Annual Report feels different this year. There is more to financial performance when it comes to your Credit Union.

What makes this Chairman's Report more striking is that I get to reaffirm the basic principles that make us unique. Corporations often gauge success by their institutional bottom lines. While we seek to operate a sound financial cooperative, we recognize there is more to success than profits.

Your Credit Union measures its success by your success. That could sound a bit contrived if you did not truly understand the cooperative philosophy of your Credit Union. We are more than just a financial institution. You are more than just a checking account or a vehicle loan. Together, we represent the ambitions of our community to improve every life.

This mandate reflects what it means to be a part of local government. Every town, city, village, county, fire department, council of government, public library, hospital, law enforcement agency, and all other local government agencies exist to serve our communities. You make sure our neighbors receive life-improving services. You make our homes safe, and our families secure.

In the midst of the trials we faced last year, you rose to the occasion. I am mindful of the circumstances that tested our mettle. We faced uncertainties in the economy, public health, and social fabric. The good news is we are just as resilient as we thought we are.

As the Chairman of the Board, I am supposed to point the way we intend to follow for the coming year. I don't have a crystal ball to predict the market or health conditions. I do know that no matter what comes our way, we will be ready.

You will be ready too, because you are battle-tested. As a local government elected official, you raised your hand to take an oath to serve your community. As a local government employee, you committed yourself to a profession of selfless public service. As an LGFCU member, you support an institution that doubles down on your success.

We are optimistic on the future. We look forward to delivering the services you need to succeed. We will stop short of nothing to be the financial support system you, your family and your colleagues need.

On behalf of the Board of Directors for Local Government Federal Credit Union, we are so very proud to represent you. We commit to continue offering financial services with the integrity and excellence you have come to expect.

Best Regards,

Lin Jones, CPA
Chairman, Board of Directors
Local Government Federal Credit Union