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Mission Fed Community Report 2008

Mission Federal Credit Union

 
Debra
Debra Schwartz
CEO/President
Don
Dr. Don Shelton
BOD Chairman

Mission Fed closed the year with record member growth, strong reserves and a high-level capital ratio. Our capital ratio of more than 9% reflects our ability to withstand the current financial industry challenges with minimal impact. 2008 saw us invest in the future by remodeling our Clairemont branch and relocating our Santee branch. We laid the groundwork for our recent Online Banking and Bill Pay enhancements, developed and integrated Enterprise Risk Management, and implemented numerous operational improvements and efficiencies.Our increased efficiency along with our continued strength and stability keep us well-positioned for future growth and success.

As one of the largest locally-based credit unions in San Diego, our commitment to helping you achieve your financial mission continues to guide our actions. It is our privilege to serve you.On behalf of our Board of Directors and our dedicated staff, we thank you for your membership and look forward to helping you build a strong financial future.

Respectfully,
Debra Schwartz
CEO/President

 

Community Commitment

Mission Fed has a proud and long-standing history of giving back to our local San Diego community. In 2008, we were the title sponsor of the Mission Federal Memory Walk for Alzheimer's and the Mission Fed U.S. Open Sandcastle community competition. We also supported ArtWalk, the Classroom of the Future Foundation, Cox Heroes Scholarships, the San Diego County Office of Education's Academic Decathlon, San Diego State University's Compact for Success college readiness program, underwrote numerous Mission to Succeed Scholarships, and created and implemented our award-winning I'm Thankful for my Teacher and Padres Community Home Run Challenge campaigns, to name just a few of our dedicated community commitments. It is our mission to give back to our local community through strategic partnerships with local educational and other nonprofits, philanthropic grant funding from our Community Foundation, financial literacy initiatives, and local educational and event sponsorships.

Sound Financial Condition

Mission Fed's Supervisory Committee volunteers their time and expertise to take final responsibility for the internal and external auditing of the credit union and its internal controls. Mission Federal Credit Union is in excellent financial condition. Our enviable financial position, sound business practices and strong leadership, provide the safety and stability to seamlessly weather changes.

Kamran Sincerely,
Kamran Azimzadeh
Supervisory Committee
Chairman