I am pleased to report that 2016 was another year of significant growth and positive financial results. Over the course of the year we added $7.9 million in net worth and achieved profitable results for the 37th consecutive year! This growth and profitability allows us to reinvest in products and services for our members. I wanted to take this opportunity to highlight some of our accomplishments in 2016 as well as provide some details on what you can expect to see in 2017.
In 2016 we were thrilled to have surpassed the 100,000 member mark worldwide. We are especially pleased to have hit the 20,000 member mark in our North Carolina market following the opening of our fourth branch, Porters Neck. Much of this growth is a result of the referrals our members give to their friends and family. If you love our world-class service, please consider sharing your story with your friends, family, and co-workers so they can grow with us, too.
Aside from the financial results and membership growth, 2016 was largely dedicated to making significant investments in our digital products to ensure ease of use for our members. Improvements were made to our mobile app that included a new look and feel as well as a new feature called
Send Money – which allows members to transfer money to both members and non-members via PayPal®. In addition to Apple Pay®, which we launched in 2015, we launched Google Pay™ and Samsung Pay™ to make it possible for members with those devices to
make payments simply and securely with their mobile phones. We also began offering
Financial Institution Transfers, so members can transfer money to and from other financial institutions and Corning Credit Union. Lastly, we completed a website update to make our website easier to view and interact with on tablets and mobile devices.
As we move forward, we will continue our focus on growing member relationships and improving our digital product offerings. In order to better understand how our members feel about us and our products, we recently launched a new survey program. This program will get surveys out to more members annually and will allow us to gather more in-the-moment feedback from you. Your opinion is extremely valuable to us, so if you receive a survey, please take a moment to respond. For more information on these surveys, please see the article below.
We will also continue using member feedback to learn how we can improve our current products and also offer new ones that best meet our members’ needs. To this end, I am very excited to announce that we will be launching three new credit card products in 2017. Each of these new cards is designed with unique features to ensure that they meet member needs. Be sure to keep an eye out for more information on these cards in the upcoming months.
Overall, 2016 was another year of great accomplishment and I am very excited to see our continued growth in 2017. I would like to sincerely thank you for your support and trust. Our priority will always be providing world-class attention and service to every member, while offering the best possible products and services.
Thank you for your membership!
President & CEO