VALLEY FIRST CREDIT UNION

AS A STATE-CHARTERED CREDIT UNION, VALLEY FIRST CREDIT UNION (THE CREDIT UNION) PROVIDES LOANS TO MEMBERS AT REDUCED INTEREST RATES AS COMPARED TO COMPETITORS. IN GENERAL, THE CREDIT CRITERIA ARE LESS STRINGENT, LOAN RATES ARE LOWER, AND A HIGHER LEVEL OF LOAN COVERAGE IS PROVIDED. AS OF 12/31/2023, THE CREDIT UNION HAD $744.7 MILLION IN OUTSTANDING LOAN BALANCES AND MORE THAN 78,000 MEMBERS. AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION AND A LOW INCOME DESIGNATED CREDIT UNION, VALLEY FIRST CREDIT UNION IS CHARGED WITH GENERATING ECONOMIC GROWTH AND OPPORTUNITY IN ECONOMICALLY DISADVANTAGED COMMUNITIES WITH PROGRAMS THAT INJECT NEW SOURCES OF CAPITAL INTO NEIGHBORHOODS THAT LACK ACCESS TO FINANCING. MORE THAN 60% OF OUR LOANS ARE DONE IN COMMUNITIES WHERE MORE THAN HALF OF THE HOUSEHOLDS HAVE INCOMES BELOW 60% OF THE AREA INCOME OR THE POVERTY RATE IS AT 25% OR HIGHER. 45% OF OUR TOTAL LOAN PORTFOLIO IS TO HISPANIC/LATINO BORROWERS. AT THE CORE OF OUR MISSION LIES A FIRM BELIEF IN PRIORITIZING PEOPLE OVER PROFITS AND GIVING BACK TO OUR COMMUNITIES. IN 2023, VALLEY FIRST PROVIDED OVER $201.0 MILLION IN FINANCING FOR OUR COMMUNITY, INCLUDING OVER $21.0 MILLION IN AFFORDABLE HOME LOANS FOR FAMILIES. 60% OF OUR SBA FUNDING WAS PROVIDED TO MINORITY AND WOMEN-OWNED BUSINESSES AND WE GENERATED $3.3 MILLION IN ECONOMIC DEVELOPMENT WITHIN OUR COMMUNITIES AS A RESULT OF OUR LENDING EFFORTS.

VALLEY FIRST CREDIT UNION (THE CREDIT UNION) PROVIDES A SAFE PLACE FOR OUR COMMUNITY TO SAVE THEIR MONEY VIA A VARIETY OF SAVINGS AND INVESTMENT PRODUCTS/SERVICES. WE PAY HIGHER DIVIDEND RATES THAN OUR COMPETITORS AND OFFER MANY SHORT AND LONG-TERM SAVINGS OPTIONS. AT 12/31/23, THE CREDIT UNION HAD 141,281 SHARE ACCOUNTS WITH BALANCES TOTALING OVER $780,109,602. IN 2023, WE GAVE BACK $5,035,620 IN MEMBER DIVIDENDS AND $706,758 IN VARIOUS MEMBER INCENTIVES AND REWARDS AS A RESULT OF BANKING WITH US. WE ALSO WAIVED ALL FEES ON SMALL BUSINESS DEPOSIT PRODUCTS AS A WAY TO HELP OUT OUR SMALL BUSINESS COMMUNITY STILL RECOVERING FROM THE IMPACT OF COVID-19.