Page 2 - Peach State FCU 2019 Annual Report

PRESIDENT’S REPORT
I’m pleased to report that 2019 was another dynamic year for Peach State.
Our back-office teams spent much of the year completing the necessary tasks to wrap up the five mergers and acquisitions that we completed in 2018 where we welcomed more than 12,000 members to the Peach State family.
We also focused on our charitable initiatives and ensuring that these contributions to our community would be sustainable. This led to the development of the C.A.R.E.S. VISA® Debit Card program. Every time a member makes a purchase with their Peach State VISA® Debit Card, we are donating a nickel to charitable organizations, schools and the arts in our service area.1 We contributed over $500,000 to our communities in 2019. More than $169,000 of this was awarded in the form of scholarships and educational grants to members seeking to advance their careers through continuing education, and seniors in high school preparing for college.
We also opened a branch in Evans, Georgia, which brings us to 26 locations throughout northern Georgia and southwest South Carolina. This shared space in Health Center Credit Union’s branch along with Georgia’s Own Credit Union is a shining example of the cooperative spirit of the credit union industry.
We are grateful for the loyalty of our members and their contributions to our community and in return, we are focused more than ever on our mission to provide excellent member service.
— Marshall Boutwell, President/CEO
1 $0.05 per transaction of Peach State Federal Credit Union’s merchant interchange income from our VISA® Debit Card program is used to benefit the communities we serve. Peach State will determine where/how funds are disbursed. This does not affect members’ accounts nor will any member information be disclosed. You will not incur any additional fees or charges from this program. Merchant interchange income is derived from fees that a merchant pays to accept credit/debit card payments. The C.A.R.E.S. program may or may not apply to ATM transactions, certain commercial transactions, or other transactions not processed by VISA®.
CHAIRPERSON’S REPORT
Following a busy year of mergers and acquisitions in 2018, the credit union’s management and staff spent much of 2019 working hard to ensure that the transitions were successfully concluded and our new members were assisted during the onboarding process. I am grateful to the entire staff for their efforts to provide excellent service during this time.
We also created additional Advisory Boards last year and now have four groups to better represent our expanded footprint. The input from these individuals has been invaluable to the Board of Directors and the credit union’s management team.
Also in 2019, Peach State’s Board of Directors bid farewell to Chairman, Rick Davis, when he retired from the Board in April. Rick had been a Volunteer since 1999 and was named Director Emeritus in honor of his 20 years of service to the credit union. We are grateful for all of his contributions and commitment over the years, and wish him a happy
retirement.
I am thankful to our entire Board of Directors, as well as our Supervisory Committee and Advisory Boards for their hard work throughout the year. I am honored to
serve side by side this dedicated group of volunteers as your Chairman.
I would be remiss if I did not mention how proud I am of our entire Peach State team, and how they continue to put our members at the forefront of
all that they do – no matter the challenges that they face.
— Dr. Keith Everson, Chairman