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2019 Annual CEO Report
Thaine Robinson, Chair, Board of Directors
The Board of Directors is happy to report the Credit Union is strong, stable, and economically healthy. We feel the goals and strategies of the Credit Union are moving in the right direction. Please feel comfortable knowing the Board and staff of Beehive are continually looking out for your best interests.
This year will be a milestone for Beehive. If everything goes as planned, we will reach two major benchmarks. First, we will reach 30,000 members. It is an honor to be able to help with the financial needs for all our members, as well as those who now use our mobile application services throughout the country. The second major ground-breaking plateau will be reaching a $300 million asset value. We will continue to grow at a cautious and appropriate pace. Not too fast to damage us financially, nor too slow creating stagnation.
Because of the growth in these two areas, we are able to continue to add new services for our members. Along with our ever-popular Missionary Savings Account (3% APY), we have a new Student Savings Account (2% APY +). This year we will introduce Zelle, an application allowing for person-to-person transferring of money in real time. More information will be available about Zelle as we get closer to implementing this service. We also have a Text Chat feature allowing a member of the Beehive staff to communicate with you using the mobile application. We are confident almost every member will be able to take advantage of at least one of these new services.
Beehive has been able to create a strong relationship with our local state legislators. This relationship has existed for many years, and we are proud that many of our current local legislators from Bonneville, Jefferson, and Madison counties are members of Beehive. Even though we are a federally-chartered credit union, it is important to foster good Idaho financial guidelines. We expect this close relationship to continue in the future.
As a Board, we view the employees of Beehive to be some of the most talented, dedicated, competent, and service-oriented group of individuals compared to any other financial institution in the area. We thank them for their friendliness and willingness to help us with our monetary needs and financial goals.
2019 is expected to be a very good year for our credit union. In turn, we hope it will be a great year for you, as well.