Annual Report 2022

We’ve already hit the ground running in 2023. In February, we introduced Express Pay, which allows you to make quick, secure loan payments with your debit or credit card from another financial institution. Already, our members have processed hundreds of payments via our online Express Pay portal.

Here’s a look at what’s ahead this year:

• Improved Chat Functionality. We’re getting ready to launch personal, virtual contact center sessions, complete with video functionality. With the member’s permission, representatives will even be able to co-browse the member’s screen to better assist them with our website, Online Banking, and online applications.
• Online Member Appointment Scheduling. Soon, we’ll integrate appointment scheduling to our digital service offerings which will bridge digital functionalities with the financial services center network.
• Contactless Credit and Debit Cards. This summer, we’ll begin a gradual re-issue of our members’ cards, updated with the latest chip technology for contactless transactions. Contactless cards are more secure: every chip transaction includes a unique code, helping to protect against fraud and keep your information safe. And, they’re easier to use: When making a purchase at a chip-enabled point-of-sale terminal, you will no longer need to insert your card. Instead, simply tap your card to the front of the terminal. Save time every time you tap!
• Increased ITM and Virtual Representative accessibility. We plan to add an ITM to our Warrenton location, which will mean ITM access at each of our locations. And, we’re adding to our Virtual Rep team so that we can provide even more expanded hours. Details to come.

In closing, we’d like to remind you that as a member/ owner of a not-for-profit cooperative, you’ve made a good choice and you’re in good company. There are 6.8 million credit union members in Washington and Oregon – 57% of all residents. Credit union member benefits, combined with the wages we pay our employees and the money we spend in our communities, contributed $11.3 billion to Washington’s and Oregon’s economies in 2022. Here at Fibre Federal and TLC, we saved our members more than $24.4 million in 2021, an average of $302 per member. All that just for having your accounts with us rather than a bank!

We look forward to growing with you in 2023. Thank you for your membership!

Christopher Bradberry
President/CEO

Jerry Howell
Board Chair

Your Supervisory Committee fulfills this responsibility in two ways. We meet regularly with the Credit Union’s Vice President of Internal Audit, Luci Sherard, who assists the Committee in verifying compliance within our internal control framework. We also engage an external audit firm, Moss-Adams, to audit the financial statements and the operational controls surrounding those financial nstatements in accordance with generally accepted auditing principles.

Supervisory Committee members attend regular monthly Supervisory Committee meetings, as well as monthly meetings of the Board of Directors. At these meetings we review the work of the Internal Auditor, the external auditor, and management to ensure that the Supervisory Committee’s responsibilities are properly discharged.

Based on our audits and the reports of other experts, the Supervisory Committee is satisfied that the records of Fibre Federal and TLC are accurately maintained, and the Credit Union is in compliance with applicable laws and regulations. We thank the Credit Union management and staff for their diligent work that ensures such a well-run organization.

Jeff Skeie,
Supervisory Committee Chair