Larry Tobin, President/CEO

As of September 30, 2009 our capital ratio was 8.42%, exceeding our regulatory minimum for being designated a well-capitalized credit union. The allowance for loan loss as a percent of total loans is strong at 2.82%. We are prepared to weather a lingering recession if necessary. Finally, our year-to-date return on assets is .28%, a healthy performance in a difficult financial marketplace.

We are here for our members as our community continues to face a challenging economic climate. In 2009 we have made every effort to assist our members in need of financial help. We intensely reviewed our organization and saved over $2 million in operating expenses allowing us to provide further value back to our members. And we have enhanced our Relationship Rewards program in the third quarter to provide more opportunity to use and redeem rewards points for added value in the products and services you use at FAIRWINDS.

Intermittent signs of improvement in the economy are encouraging, yet we remain cautious. We continue to be vigilant of our environment and our operations and are committed to maintaining the financial strength of your credit union. I encourage all members to continue to save money and borrow wisely to ensure your own personal financial strength. It is the fundamental premise of why our credit union exists – our members financially secure and economically successful.

Larry Tobin
President/CEO