We are pleased to present our 2019 Annual Report. KBR Heritage Federal
Credit Union had a financially strong year that could not have been
accomplished without the participation and support of our membership.
As of December 31, 2019, KBR Heritage FCU had $660,389 in net revenue,
$12 million in capital and $82.3 million in assets. With a net worth ratio of
15.3%, KBR Heritage FCU is considered well-capitalized by the National
Credit Union Administration.
KBR Heritage FCU continues to offer competitive loan rates and above-
market deposit rates. In 2019, the loan portfolio grew by 5.3% to $25.5
million. Contributing to these increases was $9.3 million in total new loans.
Furthermore, we were also able to assist our members with nearly $1.4
million in mortgage loans. The Board of Directors and management have
expanded the number of promotions and new programs to help members
with their lending needs.
In 2019, the Credit Union launched a credit card rewards program, Mobile
Deposit and Apple Pay
®
. We will continue to explore new ways to make
your KBR Heritage FCU experience rewarding.
We appreciate the support, trust and loyalty of our members.
Respectfully submitted,
Glenn Wong, Board of Directors Chairman
Regina Lancaster, President/CEO
A Message from the Chairman and President/CEO
