2024 President’s Report

In 2024, SIU Credit Union continued its mission of empowering members and strengthening our communities. We navigated a dynamic economic landscape, providing a stable financial foundation for our members while expanding access to responsible financial products.

We welcomed a significant number of new members to our cooperative, reflecting a growing trust in SIU Credit Union as a trusted financial partner. Our focus remained on providing a wide range of financial services, including competitive loan products, high-yield savings options, and innovative digital banking tools.

As president and chief executive officer, I am pleased to share that 2024 was another exceptional year for our member-owners.

Some highlights from 2024:

• We eclipsed $500 million in assets, a significant milestone for SIU Credit Union. It reflects the unwavering trust and confidence that our members have placed in us as their trusted financial partner.
• As a not-for-profit, member-owned financial cooperative, providing financial benefits to our members is our primary focus. Per our 2024 CUNA Membership Benefits Report, it is estimated that SIU Credit Union provided $11,236,519 in direct financial benefits to our members during the prior 12 months ending in September 2024.
• SIUCU stood strong at over 43,700 members in 2024, providing outstanding products and services for members through auto loans, business loans, mortgages, refinancing, personal loans, or other requests.
• Within a changing interest rate environment, we continued to fulfill our pledge to provide credit to our membership. Rising interest rates made consumers more hesitant to make new vehicle or home purchases last year, but SIUCU provided more than competitive rates for those who chose to make high-end purchases in 2024.
• We moved into our new corporate headquarters located at 1175 E. Main St. in Carbondale within the University Mall, consolidating back-office staff from three different locations within a state-of-the-art facility.
• We continued to disperse our Community Development Financial Institution (CDFI) funds into our region to assist underserved borrowers in 2024 with products such as our Fast Cash and Credit Builder loans, which assist members and deter the payday lending alternative.
• The new SIU Credit Union Trailhead at Touch of Nature in Carbondale was constructed with our signage coming in 2025, providing a destination for outdoor enthusiasts year-round.
• After migrating all debit cards in 2023, we converted our credit card portfolio to a new in-house platform through Visa DPS, providing improved functionality, useful self-service options, and increased fraud protection.

Giving Back

In 2024, SIU Credit Union demonstrated a strong commitment to supporting our communities.

Employee Giving: Our employees set a new record, donating over $12,000 to our “Jeans Because We Care” charitable fund. This year, employees voted to support five local charities:

• The Night’s Shield: Providing shelter and essential services to individuals experiencing homelessness in our region.
• Weekend Blessings: Offering food and support to families in need in Metropolis.
• The Carbondale Warming Center: Providing a safe and warm environment for individuals experiencing homelessness during the winter months.
• The Poshard Foundation for Abused Children: Supporting programs that help children heal from abuse and neglect.
• The 4 C’s Food Pantry: Distributing food to families facing food insecurity in Saline County.

In addition to these funds, our branches hosted supply drives for each of their charities in the fall to assist throughout the year.

Community Impact:

• Supporting Local Organizations: We made significant contributions to organizations like:
  • Survivor Empowerment Center: Supporting their Taste of Chocolate, Little Black Dress, and other programs that help survivors of domestic violence and sexual assault.
  • Federal Home Loan Bank of Chicago Grants: We were able to secure two separate $30,000 improvement grants for local business members: Oasis Skin & Wellness Center and Southern Illinois Cremation and Mortuary LLC.
  • Southern Illinois Made Expo: $5000 sponsorship for local entrepreneurial event.
  • “Day of Giving” for Southern Illinois Community Foundation: We provided $5000, which was also matched for greater impact, for this event that assists numerous non-profits throughout our communities.
• Investing in SIU: Our commitment to Southern Illinois University (SIU) and its student populations remains strong. We allocated $15,000 for SIU’s Touch of Nature Dawg Days event, which helps orientate new students to their campus environment. We look forward to many outdoor events for both students and other visitors to be hosted at the SIU Credit Union Event Center located within the Touch of Nature campus.
  • We additionally provided $20,000 for other new SIU student orientation events.
  • We sponsored the SIU Women’s Conference with a $5000 sponsorship and supported the various athletic ventures throughout the year.
• Supporting Human Services: We extended our support to organizations including, but not limited to:
  • Centerstone: Providing funding for their developmental group home, which provides residential care and support services for individuals with developmental disabilities.
  • Special Olympics: Contributing $5000 for their Ducky Derby fundraiser and $2000 for their Polar Plunge events, which raise funds to support athletes with intellectual disabilities.
  • The Night’s Shield: Providing critical assistance to children in need during times of family crisis.
  • Boys and Girls Club: Supporting programs that provide a safe and enriching environment for underprivileged youth.
  • Hospice of SI: Assisted this non-profit organization with different events throughout the year.
• Investing in Education and the Arts: Our contributions extend beyond social services and education. We have allocated funds for the Morris Library on the SIU campus, supported the Nubability athletics annual fundraisers, and provided funding for local Juneteenth celebrations.
• Financial Education and Assistance in Schools
  • Our end-of-year Banzai report shows we provided access to financial education tools to over 47,000 students and 193 area schools in our region at no cost to the school.
  • We continued sponsoring the “Bite of Reality” financial wellness program with several area high schools. This exercise teaches students how to budget for all that life shares in a fun and educational manner.
  • Continued support of the CEO programs for schools in Jackson, Union, and Saline counties.
  • We awarded another ten scholarships of $1000 each to members who are continuing their education, along with assisting numerous other scholarship funds throughout the year.

• Fraud Prevention
  • We continued with our “Free Shred Days” in 2024. These were held in Metropolis, Harrisburg, Marion, and Carbondale, and the public can bring up to 50 pounds of documents to be shred on-site. These are always well-received by our attendees and provide a safe and secure way to dispose of confidential information and prevent fraud. Members attending these events have been generous in providing non-perishable donations for our local pantries as well.

These efforts reflect our dedication to making a positive impact on the lives of our members and the communities we serve.

Moving Forward

As we conclude another successful year, we extend our sincere gratitude to the individuals who make SIU Credit Union such a trusted financial partner. Our volunteer Board of Directors and Committee members provide invaluable leadership, ensuring that the credit union’s mission of “People helping people” remains at the forefront of all we do. These member-owners, elected by you, dedicate their time and expertise to represent your best interests. We also recognize the unwavering commitment of our employees, whose dedication to providing exceptional member service is the cornerstone of our success. Building on our accomplishments in 2024, we are confident in our ability to continue delivering value and exceeding expectations in 2025 and beyond. We are proud of what we have accomplished together and remain committed to “Working for You” in the years to come.