At OAS FCU, lending is at the heart of who we are, a trusted, inclusive service that empowers our members through every stage of their lives. In 2024, this purpose was as vital as ever, guiding us through another year of change with care, resilience, and commitment.

The Credit Committee is pleased to report that during 2024, 1,893 loans were disbursed, totaling $27.67 million. While this represents a decrease compared to 2023, when 2,050 loans totaling $39.45 million were issued, the numbers reflect a strategic and member-focused approach in a tightening economic climate. The global rise in interest rates and shifting consumer behavior contributed to this decline, but our priority remained constant: providing responsible, need-based lending that supports our members’ well-being.

By year-end, our loan portfolio stood at $160.52 million, down slightly from $164.84 million in 2023. This 2.6% contraction was expected and remains closely monitored, ensuring that credit quality remained strong while member access to financing was never compromised.

Our loan delinquency ratio closed the year at 2.77%, a controlled level that demonstrates both the resilience of our members and the strength of our underwriting and risk management frameworks. In addition, the denied loan applications ratio was 4.83%, reflecting our careful balance between prudent lending standards and our deep commitment to financial inclusion. This consistency in application reviews highlights our ongoing effort to provide accessible, fair lending while safeguarding the Credit Union’s long-term sustainability.

Throughout the year, the Credit Committee reviewed applications with diligence and compassion. We continued to support key programs including real estate loans, personal and overdraft lines, and our VISA credit program, with nearly $16.23 million in disbursements through VISA alone,—empowering our members with flexible financial tools wherever they live or work.

We are especially proud to reaffirm that OAS FCU’s lending approach is inclusive by nature, not by trend. Since our founding in 1962, we have served a globally diverse membership with tailored products that cross borders and cultures. That legacy of belonging is alive in every application we review, every call we answer, and every solution we provide.

Looking ahead, the Credit Committee remains deeply committed to building a future where every member feels heard, supported, and financially empowered. We thank our staff, volunteers, and—most of all—our members, for another year of partnership and trust.