2019 annual reportsuperior rating from bauerfinancial – the highest rank and a nod to our...

2019 ANNUAL REPORT

Chairman & CEO Report .....................................................................2-3

Board of Directors .................................................................................4-5

Financial Report ......................................................................................6-7

Events & Community .............................................................................8-9

Products & Services ..................................................................................11

Locations ................................................................................................ 12-13

contentstable of

Achieva Credit Union • 2019 Annual Report 1

COMMUNITYBUSINESS BANKING SERVICES

CREDIT FILE MONITORING

personal loans

share certificates

digital payments

youth &teen accounts

HSAcash rewards credit cardMOBILE CHECK DEPOSIT

BILL PAY

It’s an understatement to say that 2019 was a big year for Achieva Credit Union. It was a year of brand growth, exceptional service, and continued community commitment (with lots of fun along the way). That’s why we’re especially excited to celebrate all of our accomplishments with you.

Let’s start with a memorable moment for Achieva: We were named one of Florida’s 10 best credit unions, based on a national survey of banking and credit union customers.

The survey – conducted by Forbes with market research firm Statista – reached 25,000 people nationwide, asking questions about trust, branch services, digital services, financial advice and overall customer satisfaction. Achieva ranked number 9 on the list, a notable achievement that proves we deliver

on our strong service model, thanks to our vibrant company culture.

Speaking of company culture: Achieva also earned the Tampa Bay Times’ “Top Workplace” distinction for the seventh year in a row. This honor, awarded to 100 companies across the Tampa Bay area, is based on anonymous surveys completed by employees at each respective organization.

Outside of our organization, we celebrated two milestones here in Dunedin:

• The naming of “Achieva Way,” the street on which our corporate office is located. This highlights our tremendous partnership with the City of Dunedin and how the community appreciates our corporate citizenship.

• The expansion and grand reopening of our Achieva Paw Park – a 1.25-acre park for dogs of all sizes.

Both moments represent the GOOD neighbor we strive to be every single year.

84.4%POSITIVE MEMBER

EXPERIENCESin 2019

Achieva Credit Union • 2019 Annual Report 3Achieva Credit Union • 2019 Annual Report 2

Beyond Dunedin, we proudly joined the local community at four annual Achieva community fundraising events to support the Achieva Foundation, a 501(c)3 corporation. Among them: Celebrating the 10th anniversary of our annual Achieva Box Car Rally.

In May, we put our hard hats on in Sarasota, helping with the build of three homes at Hammock Place alongside our friends at Habitat for Humanity Sarasota.

Later in the year, the Achieva team made the holidays a bit brighter for hundreds of families throughout our footprint by partnering with the Salvation Army to host “Angel Trees” in all of our branches, gathering gifts like bicycles, barbies, and clothing for our neighbors in need. We also raised $25,000 through the Salvation Army’s Red Kettle campaign to support local families in need.

Since Achieva was founded by teachers, it only makes sense to give back to our local schools, too. In 2019, we awarded 68 classroom grants – a total of $60,000 overall.

Our company performance also remained strong: We maintained our 5-Star Superior rating from BauerFinancial – the highest rank and a nod to our continued financial success. In 2019, our total assets were $1.78 billion reflecting a growth of $63,541,000. Our capital ratio was 10.98%. And, total loans reached $1.3 billion, while deposits totaled $1.6 billion.

We’re excited to share that membership grew, too: In 2019, we had 165,153 members – a significant increase from 161,593 members in 2018.

Of course, we wouldn’t reach these milestones without our members and staff. Together, we accomplished big things in 2019.

We’re honored to continually support our members throughout their financial journeys, whether they’re saving money for a first-time mortgage, or getting a loan for that boat they’ve had their eyes on.

Now, let’s see what GOOD things lie ahead – here’s to a successful 2020. Sincerely,

TD Hawkins, Chairman of the Board Gary Regoli, President and CEO

reportCHAIRMAN & CEO

2019 Board of Directors

Achieva Credit Union Board of Directors are elected from the general membership and volunteer their time. They set strategic policies and establish the general direction for the credit union.

T.D. Hawkins III Chairman

Linda Emanuel Vice Chairperson

Janet Cantees Secretary/Treasurer

Rohland Bryant Tom Oberhofer

James Dawson Everett Silvernail

Walter Moore Bill Williamson II

Active Director Emeritus Trellis Poe Jack Berthy

Non-Board Member Volunteers

Scott Lake James Stewart

Achieva Credit Union • 2019 Annual Report 5Achieva Credit Union • 2019 Annual Report 4

2019 2018$$

$

Interest IncomeLoansInvestments

Total Income

59,648,0007,650,000

67,298,000

54,659,0005,162,000

59,821,000

$$

$

$$

$

$$

$

$$

$

Interest ExpenseMembers’ Share and Savings AccountsBorrowed Funds

Total Expense

10,820,000182,000

11,002,000

6,527,000279,000

6,806,000

$$

$

$$$$

$

Non-Interest Income (Expense)Service Fees & Miscellaneous IncomeCompensations and BenefitsOccupancyOther

Total

30,511,000(33,592,000)(4,669,000)(23,197,000)

30,947,000

28,637,000(29,656,000)(4,502,000)

(22,309,000)

27,830,000

$$$$

$

Net Interest IncomeProvision for Loan Losses

Net Interest Income After Provisionfor Loan Losses

56,296,0006,041,000

50,255,000

53,015,00010,216,000

42,799,000

NET INCOME 19,308,000$ 14,969,000$

STATEMENT OF INCOME

The condensed financial statements were derived from the audited financial statements as of and for the years ended December 31, 2018 and 2019.

STATEMENT OF FINANCIAL CONDITION

2019 2018$$$$$$$$

AssetsCashInvestmentsNet Loans ReceivableNational Credit Union Share Insurance FundAccrued Interest ReceivableFixed AssetsIntangible AssetsOther Assets

11,576,000321,992,000

1,307,027,00015,245,0002,992,00061,416,00041,296,00019,082,000

$$$$$$$$

11,756,000271,684,000

1,295,563,00014,229,0003,678,000

59,469,00041,951,00018,755,000

TOTAL ASSETS 1,780,626,000$ 1,717,085,000$

2019 2018$$$$

Liabilities and EquityShare and Savings AccountsBorrowed FundsAccrued Expenses and Other LiabilitiesEquity (Reserves)

1,556,761,0007,000,000

23,939,000192,926,000

$$$$

1,506,428,00015,000,00024,310,000171,347,000

TOTAL LIABILITIES AND EQUITY 1,780,626,000$ 1,717,085,000$

2019 Loan & Deposit Highlights

TOTAL ASSETS$1.8 billion

TOTAL DEPOSITS$1.6 billion

TOTAL LOANS$1.3 billion

$642 MILLIONtotal auto loans

$239 MILLIONtotal other

consumer loans

$323 MILLION total mortgages

$115 MILLIONtotal business loans


Proudly serving our members forover 82 years Charlotte

Collier

DeSoto

Glades

Hardee

Hendry

Hernando

Highlands

Hillsborough

Lee

Manatee

Monroe

Pasco

Pinellas

Sarasota

165,153Members


RUN FOR GOOD

COCONUT RUN

BOX CAR RALLY

SCRAPBOOK CROP

55 cars

213 racers

426 participants ran in the 5K, kids run and dog walk to raise funds for Sarasota County Schools.

209 participants ran in the 5K and kids run to raise funds for Lee County Schools.

111 participants scrapbooked to raise funds for Pinellas County Schools.

EVENTSCOMMUNITY

2.9.19SHREDFEST

1,213 vehicles served

42,500 lbs paper

1,500 lbs cardboard

$1,241.52 donated

1.26.19

11.9.19

10.5.19

3.2.19

RED KETTLE PARTNERSHIP

$25,000 donated to help local families in need

268 heats

134 race classes

YOUTH SPORTSSPONSORSHIPS

54 baseball teams

163 soccer teams

Our team spent 3,000+ hours volunteering at Achieva's community events to raise $60,000, which provided classroom grants for Pinellas, Sarasota and Lee County Schools.

ScholarshipsWe funded $15,000 in scholarships in 2019 to help local students succeed with their continued education. Achieva has funded $160,000 since 2008.

$160,000

$15,000

140

Scholarships awardedsince 2008

Scholarships awardedin 2019

Recipients since 2008


$465,000 Classroom grants

donated to local schools since 2010

AND

2019 Achieva Run for GOOD • Kids Run


Your local Credit Union,ready to help with allyour banking needs.

PRODUCTS & SERVICES

Mortgages& HELOCs

Vehicle loans & refinancing

Credit cards &balance transfers

Wealthmanagement

Business loans& services

Checking account w/ ID protection

EVERYONE IS WELCOME AT ACHIEVA

Visit a branch or apply online I www.achievacu.com

And don't forget the benefits!Visit www.achievacu.com/perks

Interior of the renovated Del Prado locationInsured by the NCUA. Equal Housing Lender.

11

THERE’S ROOM FOR MORE!Join the family and be part of the GOOD.

Apply online at www.achievacu.com.

TOP WORKPLACE 7 YEARS IN A ROW!

ACHIEVA EMPLOYEES ROCK!

locationsBRADENTON

4254 53rd Ave EBradenton, FL 34203

CAPE CORAL

1616 W Cape Coral PkwyCape Coral, FL 33914

2127 Del Prado Blvd SCape Coral, FL 33990

CLEARWATER

2201 Drew StClearwater, FL 33765

DUNEDIN

1150 Achieva WayDunedin, FL 34698

ESTERO

21301 S Tamiami TrailEstero, FL 33928

FORT MYERS

4379 Colonial BlvdFt Myers, FL 33966

LAND O’ LAKES

2115 Collier PkwyLand O’ Lakes, FL 34639

LARGO

12580 Seminole BlvdLargo, FL 33778

LEHIGH ACRES

2499 Lee RdLehigh Acres, FL 33971

NEW PORT RICHEY

5920 State Rd 54New Port Richey, FL 34652

NORTH PORT

2467 Sycamore StNorth Port, FL 34289

PALM HARBOR

33715 US 19 NPalm Harbor, FL 34684

3446 East Lake RdPalm Harbor, FL 34685

PORT CHARLOTTE

1850 Tamiami TrailPort Charlotte, FL 33948

PUNTA GORDA

3105 Tamiami TrailPunta Gorda, FL 33950

PINELLAS PARK

7105 Park BlvdPinellas Park, FL 33781

SARASOTA

3000 Bee Ridge RdSarasota, FL 34239

5881 Fruitville RdSarasota, FL 34232

SuncoaSt technical college (Open to STC staff and students only)

4748 Beneva RdSarasota, FL 34233

ST PETERSBURG

3629 11th Ave NSt Petersburg, FL 33713

413 62nd Ave NSt Petersburg, FL 33702

northeaSt high School(Open to NEHI staff and students only)

5500 16th St NSt Petersburg, FL 33703

VENICE

1485 E Venice AveVenice, FL 34292

branch

1659 Achieva Way Dunedin, FL 34698

Visit www.achievacu.com/locations for a current list of hours


2019 annual reportsuperior rating from bauerfinancial – the highest rank and a nod to our...

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