Happy New Year. We hope you and your family are healthy and well. Here at FORUM, we are excited for 2021 and one of the reasons is celebrating our 80th
year serving our members. We have come a long way from those humble beginnings two blocks north of Monument Circle at the Indiana Bell Telephone Company. We remain grateful for the volunteers who stepped forward in 1941 to help their fellow co-workers save money and be a trusted source for a micro loan when needed. Fast forward to today and we are still in the business of helping members save money and being a place you can trust for a loan. I am sure if our founding volunteers were around today they would be astonished to know we loaned $1.2 billion to our members in just one calendar year, and during a pandemic.
Credit union cooperatives like yours here at FORUM simply take money in for deposit from our members and loan this same money out to your fellow members. The concept remains unchanged and makes us who we are - a not-for-profit financial cooperative. In 2020, we witnessed a record amount of incoming deposits (thank you) and we know you are focused on improving and refining your savings habits. We have been revamping and improving our depository suite of products at FORUM, and if you haven’t checked them out please do so here (https://www.forumcu.com/savings
). We have a variety of savings products designed to make saving money easy and fun – yes, savings can be fun and rewarding. Many of these products are structured to help you achieve your goal – whether it be to build-up your emergency savings, a vacation fund (we all know we need a vacation), or college savings. On the lending side of the simple credit union equation, we appreciate the trust you have placed in us. In 2020, we did nearly $400 million in car loans for our members – helping more than 16,000 members with money to fuel their transportation dream. Moving to home loans, we completed more than $628 million in mortgage loans. We helped more than 600 members purchase or build a new home, and we helped more than 2,100 members save money by refinancing their home last year.
Thank you for making 2020 a successful year for your Credit Union. We are grateful for your business and the trust you have placed in us. Whether you are using FORUM for your savings or your borrowing needs or both, it means a great deal to us that your patronage is helping your fellow members and making your cooperative stronger. On behalf of our 372 FORUM teammates, we wish you a healthy and prosperous 2021.