MESSAGE FROM OUR CEO
In 2024, many banks and credit unions faced deposit and liquidity challenges due to the significant rise in inflation and interest rates over the past few years. Recognizing these challenges as opportunities, we launched several new products and continued to offer market-leading rates to increase value for our members.
We achieved 6.77% in deposit growth in 2024
Together Credit Union also positioned itself for increased lending activity by launching FHA mortgage loans, a government-insured mortgage that helps homebuyers with lower down payments and more flexible eligibility.
Our mortgage servicing portfolio is over $1.5 billion.
Unlike other financial institutions in St. Louis, all our mortgage loans are originated, serviced, and underwritten here in St. Louis. As a result, we continued to perform significantly better than our peers, the majority of which experienced an increase in charge-offs and delinquencies.
Our Home Equity Portfolio increased 16% year-over-year.
As an essential business for the region, we also prioritized services to support the local economy. Over 40% of our commercial lending portfolio represents minority, woman, and woman-majority-owned businesses.
Our Total Business Portfolio exceeds $200 million and is growing
In addition, we expanded our partnerships with historically significant organizations from our region, welcoming the Saint Louis Zoo. Launched in October, the Saint Louis Zoo Debit Card automatically rounds up the change from a transaction and donates it to a charitable account, helping the Zoo achieve its community-driven mission of education, animal care, and wildlife conservation.
16,000+ CITY SC Debit Cards have been issued since inception.
Our partnership with St. Louis CITY Soccer Club (CITY SC) continues to drive membership growth and engagement.
We continued our investment in technologies that improve efficiency and effectiveness.
The most significant undertaking and investment of 2024 was modernizing our phone system. In addition to enhanced bank-by-phone and self-serve offerings, our new phone system allows our team of live agents to serve over 16,000 member calls per month with greater call quality and system stability.
As we reflect on our accomplishments this past year, I am grateful for your continued trust. As we head into 2025 and beyond, I am proud to say that Together Credit Union remains a strong and sustainable financial institution, poised to serve generations to come.
ROBERT MCKAY
President/CEO, Together Credit Union
We achieved 6.77% in deposit growth in 2024
Together Credit Union also positioned itself for increased lending activity by launching FHA mortgage loans, a government-insured mortgage that helps homebuyers with lower down payments and more flexible eligibility.
Our mortgage servicing portfolio is over $1.5 billion.
Unlike other financial institutions in St. Louis, all our mortgage loans are originated, serviced, and underwritten here in St. Louis. As a result, we continued to perform significantly better than our peers, the majority of which experienced an increase in charge-offs and delinquencies.
Our Home Equity Portfolio increased 16% year-over-year.
As an essential business for the region, we also prioritized services to support the local economy. Over 40% of our commercial lending portfolio represents minority, woman, and woman-majority-owned businesses.
Our Total Business Portfolio exceeds $200 million and is growing
In addition, we expanded our partnerships with historically significant organizations from our region, welcoming the Saint Louis Zoo. Launched in October, the Saint Louis Zoo Debit Card automatically rounds up the change from a transaction and donates it to a charitable account, helping the Zoo achieve its community-driven mission of education, animal care, and wildlife conservation.
16,000+ CITY SC Debit Cards have been issued since inception.
Our partnership with St. Louis CITY Soccer Club (CITY SC) continues to drive membership growth and engagement.
We continued our investment in technologies that improve efficiency and effectiveness.
The most significant undertaking and investment of 2024 was modernizing our phone system. In addition to enhanced bank-by-phone and self-serve offerings, our new phone system allows our team of live agents to serve over 16,000 member calls per month with greater call quality and system stability.
As we reflect on our accomplishments this past year, I am grateful for your continued trust. As we head into 2025 and beyond, I am proud to say that Together Credit Union remains a strong and sustainable financial institution, poised to serve generations to come.
ROBERT MCKAY
President/CEO, Together Credit Union