We have all faced significant challenges since the onset of the coronavirus pandemic. Our team is proud that we have been able to support you through these difficult times by maintaining both BFSFCU’s financial strength and its operational flexibility. Early this year, we quickly transitioned to a hybrid work environment that enabled our staff to serve you through virtual channels while also maintaining in-person services at our Express Branch, IMF Branch, and Lending Center locations. And despite these challenges, you have increasingly turned to BFSFCU for many of your financial service needs. Our mortgage lending reached record levels during 2020 and our deposit growth has been strong, allowing us to continue returning value through lower rates on loans and higher dividends on deposits.
In appreciation of your continued loyalty and support through these challenging times, your Board of Directors has declared a supplemental dividend of $8,750,000. We are pleased to distribute a supplemental dividend for the 26th time and to be able to provide this benefit to you despite today’s ultra-low interest-rate environment.
Our strong and continued commitment to our core values of service, trust, loyalty, and integrity is essential to the relationship we share with you. As we look forward to 2021, our 74th year, the Board of Directors, Management, and our Staff remain committed to delivering the outstanding products and exceptional personal service you look for from your Credit Union.
We thank you for the privilege of serving you and your families’ financial needs.
Best wishes for a healthy and prosperous New Year!
President, Board of Directors
Managing Director and Chief Executive Officer