NGFCU welcomed a net of 7,253 new members during 2019. This was the largest annual increase in membership in the Credit Union’s 73-year history. All other Credit Union accomplishments for this year stood on the shoulders of this historic membership expansion. While the nation’s credit unions saw overall balance on loans granted increase 7.7%*, NGFCU’s balance on loans granted grew 29.4%, almost 4 times faster. The 11,254 loans granted in the amount of $288.4 million was an all-time record for NGFCU. Our Debt Consolidation Loan with an annual percentage rate as low as 5.99% helped almost twice the national average proportion of our members acquire a non-credit card unsecured loan (23.1% vs 11.8%, respectively).

Additionally, NGFCU opened two new branch locations within NGC sites: Chandler, Arizona and Palmdale, California. This brought the total number of NGFCU branches to 23 locations, at or near sponsor company sites in seven states. In 2019, NGFCU made home ownership attainable for a larger number of members by lowering the down payment requirement for members purchasing their first home to 3%. And to better measure and improve our member service, the Credit Union updated to a digital survey platform.

* Source: National Credit Union Administration, December 2019 Call Reports