2020 Annual Report - 79th Annual Report

LEADERSHIP REPORT In our 79-year history, NH Federal Credit Union has faced many hurdles, challenges, and changes across numerous fronts. But, nothing has consumed and reshaped our communities and our society and behaviors as rapidly and as completely as the COVID- 19 Pandemic. Social distancing, quarantine, essential employees, “lockdown”, remote workforces… these phrases replaced the weather as everyday conversation-starters. The Pandemic forced innovative thinking and technological adaptations among even the most change-averse citizens. We learned that as providers of financial services, we are essential to our communities and to our nation’s economic health and well-being. And, as an organization focused on assisting people most often face-to-face – one person at a time - we had to change, too. With that said, knowing what we were up against as a community and as an organization, we can be nothing but amazed, grateful, and proud at how our organization performed for you in 2020. We continued to assist people in improving their financial positions, saving our members more than $840,000 by restructuring consumer debt. Beyond this, we helped members save exponentially more money on their most important investments – their homes. We refinanced a record-number of home loans in 2020, increasing our overall balance in mortgages to $113 million. But, it’s not all about the loans. Our members’ savings increased by $29 million and we became a $300 million institution. Amid lockdowns and a worldwide pandemic.