2021 ANNUAL REPORT: REACHING NEW HEIGHTS
TABLE OF CONTENTS MISSION & VISION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 CORE VALUES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 LETTER FROM THE PRESIDENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 LEADING THE EXPEDITION. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 REACHING NEW HEIGHTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-7 VALUED MEMBER RESPONSES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8-9 CTFCU LEGACY SCHOLARSHIP. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 SCHOOL SUPPLY DRIVE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 TECHNOLOGY UPGRADE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 EXPEDITION: EXPANSION. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 GIVE THE GIFT OF MEMBERSHIP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 MEMBERSHIP EXPERIENCE SURVEY. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 SUMMER AUTO LOAN. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 SCALING FOR GROWTH. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 LETTER FROM THE CHAIRMAN. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 BOARD OF DIRECTORS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 SUPERVISORY COMMITTEE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 TREASURER’S REPORT. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 FINANCIAL HIGHLIGHTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22-23
2021 ANNUAL REPORT
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OUR MISSION Deliver valued solutions for all our members’ financial needs — whatever their stage in life.
OUR VISION We will be recognized for anticipating and delivering financial solutions that meet our members’ needs and promote their financial well-being now, and in the future.
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CAROLINAS TELCO FEDERAL CREDIT UNION
OUR CORE VALUES
INTEGRITY
ACCOUNTABILITY
RESPECT
Approach every situation in an honest, ethical, and transparent manner.
Hold ourselves as well as teammates accountable at the highest level. Feel empowered to reach out for assistance.
Treat others as we would like to be treated.
MEMBER COMMITMENT
COLLABORATION
Focus on improving the financial lives of our members by offering best in class products through fast and efficient channels.
Leverage our collective intelligence and work together in the pursuit of extraordinary results.
2021 ANNUAL REPORT
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LETTER FROM THE PRESIDENT My Fellow Members, Carolinas Telco Federal Credit Union (CTFCU) experienced another successful year, reaching over $560 million in assets for the first time in our 88-year history. This milestone can be directly attributed to you, our members. Many of you took advantage of our Membership Referral Program, recommending the credit union to hundreds of your family, friends, and co-workers. Your efforts contributed to a 20% increase in new memberships for the year. Gross consumer loans grew by 10% during the same period, reaching $63.2 million. More members than ever, looked to us for their mortgage needs, resulting in $39.1 million in new home loans. For the year, CTFCU exceeded expectations, posting net income of $2.53 million, as compared with $1.33 million in 2020. Each new membership and loan represents an individual who found value in doing business with CTFCU. Considering the numerous financial options available in today’s marketplace, we are grateful for the faith and trust you’ve placed in our credit union. Every team member of this organization remains committed to doing their part to earn your business each day. To continue being considered a credit union of choice, we made significant investments in our digital infrastructure to provide our members with the right tools to conveniently manage their finances. In March 2021, CTFCU launched a state-of-the-art online and mobile banking platform backed by a robust core system. Entering the second year of the pandemic, we recognized that having the ability to perform remote banking transactions securely and safely, was a top priority. Our new digital suite of services includes CardControl, more streamlined Bill Payment features, access to FICO® scores, as well as new digital communication channels. In 2022, we will continue to focus on the member experience by bringing even more enhanced, best in class services.
CHRIS DICKMAN Chief Executive Officer
Just like many businesses, we experienced our share of challenges this past year. Despite rising operating costs and pandemic related obstacles, our credit union chose to invest in upgrading our product lines. We introduced a new Relationship Pricing Program to reward those who consider CTFCU their top of wallet financial institution. Through that benefit, members can now qualify for one of three graduating tiers packed with rewards and savings, based on meeting a few simple goals. Perks like discounts on consumer loans, CD dividend bonuses, home loan opening credits, and other fee waivers, make banking with CTFCU better than ever! Additionally, we lowered our rates on auto loans throughout the year to assist our members during unprecedented supply chain disruptions in the vehicle market. Instead of passing on higher costs to you, our team dug deep to find more value for our members. So again, thank you for the trust and loyalty you have placed in us over the past year! We look forward to exciting times to come and are more devoted than ever to continuing to work hard to earn your business.
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CAROLINAS TELCO FEDERAL CREDIT UNION
LEADING THE EXPEDITION
Chris Dickman
Chief Executive Officer
Alan Stapleton
Chief Financial Officer
Jimmy Womack
Chief Operating Officer
Corey Brickers
SVP Marketing & Corporate Communication
Nicol Matthews
Chief Experience Officer
Joe Jaspers
VP Wealth Management
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REACHING NEW HEIGHTS TOGETHER As a credit union, we feel it’s essential to ask, “How can we help engage and empower our members and those in the communities we serve?”
Breast Cancer Awareness — Central Ave Branch
Chill Out Fridays — Central Ave Branch
Celebrating our Successes- Cards Dept.
International Credit Union Day — Project Management
Chill Out Fridays — Crisman Branch
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CAROLINAS TELCO FEDERAL CREDIT UNION
Carolinas Clay Classic — Management Team
Chill Out Fridays — Gastonia Branch
“Ugly” Holiday Sweater Contest — Gastonia Branch
Community benefit and engagement are an integral part of our culture. From our Backpack Drive, where we were able to collect and distribute over 700 school supplies, to our Lending Department putting together over a dozen boxes for Operation Christmas Child, the impact of our service has continued to grow. Despite challenges throughout the pandemic, we also sought innovative ways to be present in the markets we serve, with events like Chill Out Fridays, which allowed us to interact with our members and neighbors. It was our great pleasure to find new ways to support partners and communities over this year because we know that we can reach new heights as a credit union and a community by working together.
Operation Christmas Child — Lending Team
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VALUED MEMBER RESPONSES Receiving timely feedback from our members helps us to provide the service you’ve come to expect from CTFCU. We’ve compiled some of our favorite reviews posted by credit union members on our social media and search engine pages.
I have been a customer for many years, dealt with multiple branches, mainly Gastonia and Crisman Street, and have realized the courtesy and professionalism of the employees is universal. I appreciate the fact that I’ve never felt they were trying to ‘sell’ me anything but rather offered solutions for my various banking needs whether as simple as individual accounts or as complicated as mortgages. I honestly can’t see why anyone would ever want to deal with the endless high fees, interest [rates] and sales tactics of the big banks if they can become a member. And on top of that, you’ll never find better rates on auto loans, or any other loans for that matter.
Isaac M.
Crisman Branch
Every time I go to or call this branch, the service is phenomenal!
Maya B.
Gastonia Branch
I’ve been a member since birth due to my mother working for Bell South. This [credit union] is the best, I’ve not [had] any issues with them at all, over 30 years. The customer service is so friendly and has always been. When they get new faces, it seems like they’ve been there for forever because they actually take the time to remember you. That’s how banking should be in my opinion, KNOWING YOUR CUSTOMER, and they do. They are great with community initiatives. They did a back-to-school drive and were collecting school supplies. They were so appreciative and accepting of what was given to them.
Kerri W.
Columbia Branch
The atmosphere and service at this branch is beyond compare!! They are knowledgeable and helpful far beyond your expectations. I highly recommend this branch to anyone that is looking to open an account.
Rodney D.
Greenville Branch
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CAROLINAS TELCO FEDERAL CREDIT UNION
The Gastonia branch is the best!! Wonderful ladies working there and [they] always are willing to help me. Best service inside the branch and through the drive thru. I am so glad my family and I started banking here.
Andres R.
Gastonia Branch
Hey I’ve been with Carolinas Telco faithfully for 2 years and the Raleigh office always, rocks it. Anything I need they’re spot on.
Jeremy A.
Raleigh Branch
I absolutely love how much more this branch, especially, has improved with their personable, dedicated & accommodating member services, from the satisfaction driven operations to their specific needs met through their patience & empathetic manner, which is helpful for someone on the Autism spectrum, such as myself! Thank you very much!
Boris A.
Everyone at this location is always so helpful and cheery. I always know I can count on the staff here to help me with my banking needs and do it with a smile on their faces.
Danielle S.
Cornelius Branch
I have been with Carolinas Telco for over 12 years and they are the best [credit union]... They give you the feeling of a small town [financial institution]. They are the most polite and are like family! I will not go anywhere else... they are patient and work with you to help you with what you need! I love Carolinas Telco!!
Karen B.
Columbia Branch
The professionals at Central take good care of me every time I visit. I also love the new app. Thank you for everything!
Mike G.
Central Branch
Cornelius Branch
2021 ANNUAL REPORT
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CTFCU LEGACY SCHOLARSHIP SUPPORTING YOUR DREAMS We pride ourselves in giving back to our members and the communities we serve. Each year, starting on October 1, credit union members have the opportunity to apply for our CTFCU Legacy Scholarship. In 2021, we raised award amounts from $1,000 to $1,500 each. Credit union members who were not chosen in the first round were automatically entered into the Carolinas Credit Union Foundation’s general scholarship application pool for awards in varying amounts. Congratulations to all six CTFCU members who received funds to continue their journey towards higher education!
Audrey Wessinger Georgia Institute of Technology Hometown: Mt. Pleasant, SC
Zellina Suber
John Hopkins University Hometown: Charlotte, NC
Victoria Barden Midlands Technical College Hometown: Columbia, SC
Additional Scholarship Recipients Mishka Richards
Spelman University Hometown: Lancaster, SC
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CAROLINAS TELCO FEDERAL CREDIT UNION
Layla Washington
NC A&T State University Hometown: Indian Land, SC
Erin O’Connor
College of Charleston Hometown: Charleston, SC
SCHOOL SUPPLY DRIVE We donated over 700 school supplies to children across the Carolinas by partnering with organizations throughout our markets.
Greenville Branch
Raleigh Branch
Central Ave Branch
Crisman Branch
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TECHNOLOGY UPGRADE: SCALING THE DIGITAL FRONTIER Part of our ongoing commitment to excellence is investing and implementing new technologies. This year was no exception, marking the successful launch of our new core account system. These tools and platforms allow us to give members the best possible experience when maintaining their accounts. We continued evolving our virtual account offerings through a new online and mobile banking platform that went live in March 2021. This entirely new suite of financial tools gives CTFCU members the option to manage their money anytime, from anywhere. Also, we just launched an exciting communication feature on our website. Have you noticed the “Let’s talk!” button on our website’s homepage? The next time you visit www.ctelco.org, give it a try! Chat with us in real-time or allow us to co-browse along with you to help find the information you need. These improvements reflect our core value of member commitment, translating directly into an enhanced experience personalized to you.
ONLINE AND MOBILE BANKING FEATURES • • • • • • • •
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Manage your accounts on your time View pending deposits and withdrawals All online banking features are available in the mobile app Pay bills from any device Use your phone to deposit checks Submit your new loan or account request using “Quick Apply” Use our CardControl app to manage your debit and credit cards Create interactive budgets and review your spending categories
CAROLINAS TELCO FEDERAL CREDIT UNION
EXPEDITION: EXPANSION We constantly strive to grow and look for new ways to expand our reach to have the most significant impact possible. This past year was no different, and expansion was at the forefront of many internal and external efforts. We have continued to add employees to grow our organization and support operations. During this second year under a new membership charter, we broadened our market reach by adding new Select Employer Groups and affiliated Associations. We also increased the number of zip codes designated by the NCUA to be underserved for financial services within our markets. By making our credit union accessible to more people, we can do even more to improve the financial health of the communities we serve.
1,880 NEW MEMBERSHIPS
GASTONIA, NC
CORNELIUS, NC
RALEIGH, NC
CHARLOTTE, NC 96 UNDERSERVED ZIP CODES WITHIN 4 COUNTIES
10 NEW ASSOCIATIONS
GREENVILLE, SC 60 NEW SELECT EMPLOYER GROUPS
COLUMBIA, SC
2021 ANNUAL REPORT
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GIVE THE GIFT OF MEMBERSHIP DRAWING WINNERS When looking to expand our member base, we turned our attention to current members. After all, who would be better to serve as credit union ambassadors and speak to their terrific member experience? Our team devised a fun contest called Give the Gift of Membership, which took a fresh take on our existing member referral program. Launched during the holiday season, this six-week promotion asked our members to refer friends, family, and people in their community to CTFCU. With each referral, they not only were eligible to receive the standard $25 incentive, but each referral counted as an entry for themselves and the referred person into the contest. We held our drawing right before Christmas, awarding select members up to $1,000 in prizes. In total, this campaign resulted in 51 member referrals and 166 new memberships in December.
CHELSEY AND GATLIN S. Raleigh Branch
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CAROLINAS TELCO FEDERAL CREDIT UNION
LAUREEN H.
Lake Norman Branch
MEMBER EXPERIENCE SURVEY 2021 WINNERS Part of our commitment to members is continuous improvement, and feedback is an important part of that. We surveyed members that had in-branch and online interactions to let us know about their experience. Those that responded were automatically entered in a drawing for a $50 Gift card.
Angela B. Irmo, SC
Shawn P.
Andrew W.
Charlotte, NC
Cornelius, NC
Tim B.
Myrtle Beach, SC
Karen B.
Brittany W.
Columbia, SC
Columbia, SC
Alaysia K.
Gastonia, NC
Dennis C.
Michael T.
Kannapolis, NC
Gastonia, NC
Chase C.
Raleigh, NC
2021 ANNUAL REPORT
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SPEED INTO SUMMER SAVINGS In 2021, we witnessed a decline in vehicle inventories across our network, coupled with rising prices. We lowered our interest rates and allowed up to 90 days for the first payment to assist our members. Our Speed Into Summer Savings auto loan promotion generated more than $14.5 million in new loans over a two-month period.
AUTO LOANS
$14.5 Million
Our branches participated by creating their own racing-inspired teams, featuring creative names, logos, t-shirts, and decorations. Each Friday throughout the campaign, we “chilled out” with our members by giving away free ice cream at our branches.
To celebrate the success of our Auto Loan promo, we gave away customized sets of corn hole boards to a few of our lucky members!
Amy A.
Gastonia, NC
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CAROLINAS TELCO FEDERAL CREDIT UNION
Robin F. Raleigh, NC
SCALING FOR GROWTH MORTGAGE TEAM
MORTGAGE In 2021, requests for Mortgage-related services continued at a brisk pace. To help our members combat rising home prices and constrained supplies, CTFCU provided competitive interest rates, up to 95% financing on new purchases, and did not require Private Mortgage Insurance (PMI) on any of our Home Loans.
MARLA R.
Lending Manager
JOE N.
Mortgage Loan Officer
MORTGAGE LOANS
$39.1 Million CTFCU maintained strong production, opening 197 new Mortgage Loans during a year when Mortgage Rates began to rise from their historic lows.
SHERRE C.
Mortgage Loan Specialist
ERICA M.
Mortgage Loan Processor II
HOME EQUITY LINE OF CREDIT
$8.9 Million 104 new Home Equity Lines of Credit (HELOC) were opened by CTFCU members in 2021.
CHRISTIAN G.
Mortgage Loan Processor I
EMILY T.
Mortgage Loan Admin
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LETTER FROM THE CHAIRMAN Looking back on all we’ve achieved together this year, I am once again honored to have served you as your Board Chairman. To me, our theme of “Reaching New Heights” is not a complete statement unless we add the word, “TOGETHER.” Our credit union has always been a community of people working towards a common goal. We were founded by telephone workers who wanted to help each other improve their finances during the Great Depression. These credit union pioneers understood the impact that pooling their resources could have on everyone’s future success. Now, 88 years later, Carolinas Telco Federal Credit Union is continuing this long legacy of service to our members. In 2021, our staff realized the culmination of meticulous planning and tireless work to launch several new technology platforms. To provide our members with reliable access to their accounts, we partnered with several industry leading technology firms to upgrade our in-branch, online, and mobile banking services. While these systems represent a significant capital investment, the Board of Directors recognizes how vital it is for our members to have easy, ready access to their deposits and our services. Going through the COVID-19 pandemic together taught us that we must prepare to adjust how we live, communicate, and do business at a moment’s notice. To help us realize this goal, we are beginning to implement powerful remote tools to serve our members using the communication method they choose. Members can chat with us in real-time or even open a co-browsing session on their device with one of our service associates. If you want to talk with us over the phone or visit a branch, we’re available through those channels too. No matter how you want to do business with the credit union, we have a solution to serve you. For all of these discussions around technology, I know that none of this would be possible without our people. I want to offer a heartfelt “thank you” to our Board of Directors for their continued volunteer work. Our Senior Management Team for their leadership, dedication, and execution. Also, we recognize the tireless efforts of our managers, front-line employees, and back-office staff who assist our members with their financial needs. Most importantly, I am forever grateful to our membership for their continued trust and loyalty to CTFCU.
LARRY W. DAVIS Chairman of the Board
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CAROLINAS TELCO FEDERAL CREDIT UNION
BOARD OF DIRECTORS
Larry W. Davis
E. Leland Haywood
Chairman
Mitchell D. McIntosh
Vice Chairman
William L. Flowers Director
James W. Rhodes
Treasurer
Larry E. Shumpert Director
Secretary
Lynwood Bowen Director
2021 ANNUAL REPORT
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SUPERVISORY COMMITTEE The Supervisory Committee is created by law and appointed by your Board of Directors to independently represent all members. We evaluate Carolinas Telco Federal Credit Union’s activities and operations to ensure soundness, compliance, and reliability and appraise internal controls’ adequacy. Our duties also include ensuring the performance of a comprehensive annual audit, administering Board of Directors elections, independently verifying member accounts, and objectively investigating formal complaints. Your Committee is currently composed of volunteers with career backgrounds in insurance, communications, and information technology.
Lynwood Bowen Chairman
To maintain these high standards and fulfill our financial and regulatory compliance responsibilities, we regularly meet to review all internal audit reports provided by the Credit Union’s internal auditors. To fulfill our audit responsibilities for 2021, we hired the accounting firm Doeren Mayhew, CPAs and Advisors, to conduct an independent, in-depth audit of Carolinas Telco Federal Credit Union’s operations and issue a report of their findings. We’re proud to announce their December 31, 2021, report showed the financial statements accurately represent the financial position of Carolinas Telco Federal Credit Union and conform with Generally Accepted Accounting Principles of the United States of America. The National Credit Union Administration (NCUA), the regulatory agency for all federally chartered credit unions, performs periodic supervisory examinations. As of December 31, 2020, their last examination results confirmed that Carolinas Telco Federal Credit Union continues to be financially sound. After reviewing the results of these audits and examinations, our Supervisory Committee can confidently report that Carolinas Telco Federal Credit Union continues to be financially strong and well managed with sound policies and programs. Carolinas Telco Federal Credit Union complies with the Credit Union’s bylaws and applicable federal laws and regulations.
John A. Gentry III Committee Member
Pictured:
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CAROLINAS TELCO FEDERAL CREDIT UNION
Daniel Lugo Committee Member
aT lb e oR ck State Park in Greenville,South Carolina.
TREASURER’S REPORT Carolinas Telco FCU experienced another year of positive results even though operating expenses remained elevated due to infrastructure investments and other costs. Net income from continuing operations totaled approximately $2.6 million. Other operating highlights include an increase in members shares of $46,582,328. Total membership numbers remained steady throughout the year, experiencing modest net growth. The credit union finished 2021 with 31,765 members.
$74.91
Mitchell D. McIntosh Treasurer
Million
2021 Capital Dollars
$2.53 Million
2021 Net Income
$46.58
Million
13.28%
2021 Net Worth Ratio
2020-2021 Growth in Members’ Shares
2021 ANNUAL REPORT
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FINANCIAL HIGHLIGHTS Below are 2021’s financial highlights, when compared with 2020. These figures were obtained from financial statements, audited by the Doeren Mayhew firm.
CONDENSED STATEMENTS OF REVENUES, EXPENSES, AND DIVIDENDS
OPERATING REVENUE Gross Interest on Loans Investment Income Other Income TOTAL INCOME Operating Expenses INCOME BEFORE DIVIDENDS Dividends NET INCOME
*Dec. 31, 2021
*Dec. 31, 2020
$12,702,108
$12,821,698
$3,197,927
$3,696,108
$5,902,590
$4,464,343
$21,802,625
$20,982,149
$17,926,214
$17,894,031
$3,876,411
$3,088,118
$1,348,861
$1,758,162
$2,527,550
$1,329,956
* For the year ended. // Above is certain information concerning the financial position and results of operations of Carolinas Telco FCU, as of the dates indicated. This data is derived from, and should be read in conjunction with, the audited financial statements of Carolinas Telco FCU.
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CAROLINAS TELCO FEDERAL CREDIT UNION
CONDENSED STATEMENTS OF FINANCIAL CONDITION
ASSETS Loans Receivable — Net Cash and Equivalents Investments Property and Equipment — Net Other Assets TOTAL ASSETS LIABILITIES AND EQUITY Liabilities
Dec. 31, 2021
Dec. 31, 2020
$279,660,213
$292,113,222
$16,396,865
$21,149,637
$253,547,196
$220,021,864
$4,411,469
$4,948,255
$10,051,160
$13,893,441
$564,066,903
$552,126,419
Dec. 31, 2021
Dec. 31, 2020
$3,134,252
$3,181,738
Note Payable
$20,000,000
$50,000,000
Members’ Shares
$470,224,571
$423,642,243
Statutory Reserve
$11,222,510
$11,222,510
Undivided Earnings
$63,686,420
$61,158,870
Accumulated Other Comprehensive Loss
($4,200,850)
$2,921,058
$564,066,903
$552,126,419
TOTAL LIABILITIES AND EQUITY
2021 ANNUAL REPORT
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ctelco.org 1-800-622-5305
All information current as of March 16, 2022, and all information, including rates, are subject to change. All services, such as loans, credit cards and checking accounts, are subject to approval. For information regarding the rates and services you may qualify for, contact any credit union branch.