What is an Annual Report? 

Every credit union member is also a partial owner, and are encouraged to stay up-to-date with Sierra’s financial health, security, and progress.

We publish Annual Reports to walk members through Sierra’s yearly financial results and non-financial milestones. Our Annual Meetings, held every summer, are another opportunity for members to hear about Sierra’s progress and to discuss any questions with the credit union’s CEO and Board of Directors.

If you have any questions about these reports, or about Sierra’s financial position, you can contact us here or reach out to your branch.

Thanks to all who attended our 2022 Annual Meeting!

Annual Meeting 2022 graphic with a classic car and the date, Thursday, July 7th

Over 100 members joined us at the National Auto Museum in downtown Reno for our 86th Annual Meeting.

Drinks, dinner, classic cars, and an update on the credit union’s health and position? What’s not to love!

2021 Annual Report

Sierra had a strong year of membership, loan, and deposit growth in 2021.

Report Highlights:

  • Assets grew by $15.3 Million in 2021
  • New loans grew 20% Year-over-year, even as supply chain issues decreased auto and home sales in our regions
  • Sierra’s Commercial Lending Portfolio grew dramatically
  • Sierra was a finalist in the Northern Nevada Best Places to Work competition
  • We launched a 24/7 Contact center, automatic loan decisioning, student loans, member insurance, and a Reno advertising campaign for Sierra’s Alumni Credit Card
  • Sierra’s new Las Vegas Branch opened on South Durango Drive

2021 Virtual Annual Meeting

This event was held on Zoom and shared on Facebook live on Thursday, August 26th, 2021. You can find a recording of the meeting here.

2020 Annual Report

Sierra leveraged new technology and experienced staff to weather 2020 shutdowns.

Report Highlights:

  • Launched SBA Paycheck Protection Loans for small businesses
  • Strong membership growth despite partner group shutdowns
  • Welcomed the Teamsters Local 533 as a new Select Employer Group
  • Total Loans to members passed $85 Million

The 2021 in-person meeting has been canceled due to rising COVID-19 concerns. A virtual meeting will be held instead.

2020 Virtual Annual Meeting

As the COVID-19 Pandemic spread, Sierra postponed our usual in-person meeting and held a virtual alternative in August of 2020. The Board and Executive team got on a Zoom call with members to review the 2019 Annual Report and answer questions. The meeting was live-streamed on Youtube, and you can watch the full video here.

Watch Annual Meeting

2019 In Review

2019 Annual Report

 

Report Highlights:

  • Launched SBA Paycheck Protection Loans for small businesses
  • Strong membership growth despite partner group shutdowns
  • Welcomed the Teamsters Local 533 as a new Select Employer Group
  • Total Loans to members passed $85 Million

Download the 2020 Annual Report pdf (coming soon)

2019 Annual Meeting

Held at The Grove in South Reno, our 2019 Annual Meeting was a chance for staff and members to cut loose and catch up.

 

2018 Annual Report

  • Launched Online Loan Applications
  • Passed $70M in Member Loans; 7.5% Loan Growth
  • Passed 9,000 Members; 3.22% Membership Growth

 

2017 Annual Report

  • Launched Card Tokenization, enabling digital wallets
  • Launched an updated Mobile Banking Experience
  • Passed $66 Million in Member Loans

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Sierra Pacific Federal Credit Union