2022 Year In Review

2022 Summary

posted on Thursday, December 29, 2022 in Newsletters

2022 was another year of growth and continued strategies to stay connected to our members and communities. We started the year with 20 locations, $630 million in loans, and 64,000 members. Thanks to our strong and empowered team, we have continued to grow and are now at $700 million in loans, 66,000 members and 21 locations. This growth would not be possible without you, our loyal members.

We pride ourselves in staying connected to our communities. In 2022, our C1st Foundation financially supported many local non-profit organizations in our communities. $5,000 was given to Mahaska Future View, for the Edmondson Playground Project in Oskaloosa. Another $5,000 went to both Cedar Valley Habitat for Humanity to help serve more qualified homeowners through critical home repairs and Sleep in Heavenly Peace to build and deliver twin-size beds to kids sleeping on the floor or in other uncomfortable situations. In addition, $100,000 was pledged to the Indian Hills Community College Foundation for campus facility renovations and construction. All of these projects were made possible by grants from the C1st Credit Union Impact Giving Fund of Greater Cedar Rapids Community Foundation.

We are a strong and empowered team at C1st. Community 1st Credit Union received its seventh straight Des Moines Register “Top Workplace” award. The newspaper recognized over 100 Iowa companies and organizations for the 2022 honor in September. The employer honor is based on results of an employee feedback survey. We are proud to hold on to this honor for 7 years.

We are here to improve the lives of our members. C1st has a long tradition of supporting local communities and education through its annual scholarship program. In May, we announced the recipients of our 2022 Scholarships totaling $48,000 to 25 area high school seniors and returning college students. In the last decade, C1st has awarded over $340,000 in scholarships to local members. We’re proud to be able to help so many members achieve their education goals.

We continue to expand and invest in facilities. In May, we held a groundbreaking ceremony to commemorate the beginning of construction of our newest branch in Shenandoah, Iowa. The new 3,800 square-foot facility will be located at 700 S. Freemont St and will open in spring 2023. The building project is located on 3.65 acres and will include 5 offices, a conference room with seating up to 10, as well as a spacious lobby, multiple drive-thru lanes, and a drive-up ATM. This is an exciting opportunity for us to grow and expand value to our members.

In addition, we completed renovation projects for the Ottumwa-South (Richmond), Washington, Mount Pleasant, Ottumwa–North (Pennsylvania), and Cedar Rapids branches. These renovations express our commitment and connection to our communities and members we serve. Plus we hope it provides a more updated banking experience.

At C1st, we are people helping people and rooted in our communities, which is why we developed and launched a first-time homebuyers down payment assistance program designed specifically for low-income and underserved individuals. The community development program is an excellent opportunity to help those who otherwise might not be able to purchase a home or get the home they’ve been dreaming of. Since its creation, we’ve awarded more than $1.5 million to over 300 first-time homebuyers.

We humbly thank you for being a member of Community 1st. Credit Unions were built on the foundation of ‘people-helping-people.’ Providing our members access to affordable financial products and services and striving to meet the needs of underserved communities is what the credit union difference is all about. At C1st, we’re honored to have been a part of that philosophy for over 85 years!

Greg Hanshaw
Greg Hanshaw
President & CEO