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Chairman’s Report On behalf of the board of directors, I am pleased to report on 2007, a year of important changes for School Employees Lorain County Credit Union, Inc. (SELCCU). In the spring, we undertook the monumental task of converting to a new data processing system, Galaxy Plus. We appreciate your patience and support during the transition. We now have many new options that enable us to improve service and enhance communication with you. Concurrent with the data processing conversion, SELCCU implemented an internal call center for faster response to your questions about your accounts or our services. By keeping this call center on-site, we can provide you with the prompt, personal customer service you’ve come to expect from your credit union. SELCCU has seen significant growth in the past year. At the end of 2006, we had more than $103 million in assets; at the end of 2007, we had increased our assets to more than $113 million. In addition, we received approval to expand our definition of immediate family to meet the changing needs of our members. Immediate family includes: spouse, children, stepchildren, parents, stepparents, siblings, stepbrothers, stepsisters, grandchildren, stepgrandchildren, grandparents, mother-in-law and father-in-law. We began 2008 with a change in leadership. Deborah Humbert resigned, effective January 31, and the board of directors appointed Brent T. Binkley as president and chief executive officer. Brent had served SELCCU as chief operating officer since 2001. With 22 years of financial institution experience, we are confident he will continue to help the credit union grow and succeed. Much has changed since a small group of teachers met 50 years ago to discuss creating a credit union. One constant has been our commitment to the “People Helping People” philosophy. We will continue our efforts to exceed your expectations. Thank you to our members for your trust and support; and thank you to our incredible employees who make this possible. Respectfully, Ed Syrowski
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