2020 Annual Report

We understand that 2020 was a year like no other that impacted us in countless ways. Despite the many challenges, communities came together and emerged stronger in the end. Through it all, SELCO Community Credit Union remained dedicated to helping our member-owners achieve their good life goals during a difficult year.

In 2020, SELCO helped members and non-members through tough times in a variety of ways—through emergency assistance, enhanced digital banking, investing in our communities, and more. In turn, our members’ support fueled our success, further reinforcing our commitment to providing a high return to members and delivering an exceptional service experience.

SELCO Community Credit Union 2020 annual report word cloud


Thanks to our 142,000 members and 389 associates, SELCO closed 2020 with nearly $2.2 billion in assets, $1.3 billion in loans, and $1.9 billion in deposits. In addition to our financial success, SELCO’s achievements include:

  • Purchasing a new corporate headquarters in Springfield. In late 2021, several non-branch team members will relocate to the new 61,000-square-foot facility.
  • Transitioning more than 200 SELCO team members to work-from-home setups while safeguarding the branches to keep them open to members.
  • Expanding our business banking capabilities, including a new online and mobile banking platform.
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2020 Annual Report

The 2020 Annual Report comprises the Chairperson's, President's, and Treasurer's Reports. Together, these reports demonstrate the credit union's Safety and Soundness, Operating Efficiency, Quality Personal Service, and High Return to Member—four guiding principles that are the foundation of SELCO's mission to improve our members’ social and economic position.

The 2021 Annual Business Meeting was held via teleconference on Tuesday, April 20, at 4:45pm. Please note: For efficiency and compliance, this meeting was limited to the following agenda:

  • Welcome
  • Call to Order
  • Confirmation of Quorum
  • Approval of the 2020 Annual Business Meeting Minutes
  • Chairperson's Report
  • President's Report
  • Treasurer's Report
  • Supervisory Committee Report
  • Nomination Committee Report
  • Elections
  • Adjournment of Meeting