Park City Credit Union reported strong capital levels and more than 150 service projects for 2017 at its annual meeting. The news comes as the credit union prepares for an August opening of its 26,000-square-foot headquarters.
President/CEO Val Mindak shared the success of 2017 with the credit union’s loan portfolio increasing 5.6% with over $43 million in new member loans. This made 2017 a strong year ending with nearly $132 million in total loans outstanding. Deposits exceeded $155 million with membership surpassing 20,000 members being served in 10 counties. Year-end assets increased 8.3% to end the year with a historic $182.9 million in assets combined with strong regulatory capital exceeding 10%.
“A strong and proven strategy, a dedicated professional team, and an incredible membership base continues to build a strong foundation for our future success,” Mindak said. “Our organization continues to be a leader in all our markets as we find ways to help our members fulfill their dreams.”
Park City Credit Union was also busy performing more than 150 random acts of kindness and helping more than 125 organizations as part of its “Park City Cares” initiative. The Park City Cares program illustrated the PCCU difference with cash donations, over 1,100 hours of voluntary community service, and more random fun acts of kindness.
“Park City is focused on impacting our communities, people, and the environment,” Mindak added. “We seek to create positive change beyond our four walls. We’ve found Park City Cares not only makes a difference in the community, but with employee engagement.”
Park City is planning for an August opening of its new headquarters at the southeast corner of Highway 64 and Pine Ridge Avenue in Merrill. Members received a virtual reality tour of the new building at the annual meeting last week. The new building will feature an interactive teller experience for their member-owners, a 100-seat community room, investment center, mortgage center as well as coffee shop/bistro as they partner with First Street Coffee Station that is open to everyone in the community.