FINANCIAL STRENGTH
Treasurer's Report
The financial standing and strength of the credit union was on full display throughout 2020. During one of the most volatile years in recent memories, Blue remained secure in its positions. Profitability, as measured by net income, ended the year more than $400,000 ahead of budget, ending 2020 at $9.4 million. Return on average assets, a measure of how well the credit union is using its assets to generate income, ended the year at 0.83% against a peer average of 0.67%. With $11,368,481 in dividends paid, dividends grew by more than 7% over 2019. Strength during challenging times can be hard to convey to members; regardless, Blue was able to pay out industry-leading dividends in 2020.
RELIEF FOR OUR MEMBERS
Total balance of deferred payments on 46,053 LOANS
PAYMENT PROTECTION PLAN funds allocated to our members
643.5 MILLION
$
3.5 MILLION
$
650,000
$ WAIVED member fees
5
