Throughout its history, our credit union's success has been driven by a guiding principle to improve the financial health of our members and strengthen the well-being of the communities we serve. As we mark 65 years of service, UNCLE celebrates tremendous achievements as a trusted financial partner and a leading contributor to the community at large. Anchored firmly in a shared purpose, we are continuing to expand our capacity to elevate the financial lives of our members at each new milestone.

The financial institution we now know as UNCLE Credit Union is rooted in the University of California’s Radiation Lab at Livermore, later to become the research and development institute known as Lawrence Livermore National Laboratory. In 1957, four physicists employed by the Lab combined financial resources to form Radiation Laboratory Livermore Credit Union. As we grew in size and financial strength, we broadened our charter and extended our branch network, while expanding our offerings to include an evolving array of competitive financial solutions. In 1988, the financial cooperative was renamed UNCLE Credit Union, which honored our legacy as a shortened form of “University of California Livermore Employees Credit Union.”

Today, UNCLE Credit Union offers the benefits of credit union membership to anyone who lives, works, worships or attends school in Alameda, Contra Costa, San Joaquin and Stanislaus counties. With two strategic mergers in Stockton in 2018, we positioned UNCLE to better serve the needs of eligible members in this key area of our membership field and contributed to the revitalization of the city and its surrounding communities. Expanding our footprint in the Central Valley also contributed to our membership growth to approximately 31,000, as have our consistently high level of community engagement where we do business, and recognition of the value we provide among our members and industry peers who trust in the safety and soundness of our credit union. Moreover, our organization is widely respected for a culture that celebrates the contributions of those from diverse backgrounds and perspectives. We’re proud to have a membership and workforce that spans across the many differences that make each of us unique. In short, we strive to ensure our credit union reflects the communities we serve.

In 2021, we closed out the year with $635.9 million in assets, driving steadily ahead with our strategic plan to surpass $1 billion in assets after having crossed the $500 million threshold in early 2020. Financial service providers today face persistent challenges, from heightened cybersecurity threats and fraud, to regulatory burdens and the need to meet the escalating pace of change in financial technology. Attaining a healthy level of well-managed growth provides us with the capital and financial resources to sustain our credit union in this intensely competitive and fast-evolving landscape. As we grow our revenue streams and spread our expenses over a larger membership base, we operate with greater cost efficiencies so that more of our income is reinvested in the credit union to benefit you, our members.

While traditional banks create profits for distribution to their stockholders, UNCLE leverages our collective resources to create earnings that are returned to members in the form of significantly reduced fees, lower-cost loans and competitive rates on savings products. In addition, our continual investment in infrastructure, technology and talent enables us to focus on delivering an enhanced banking experience with an emphasis on convenience, personalized service and financial education.

The second year of a global pandemic and its disruptions to daily life rhythms failed to deter us in our mission to build enduring member value and deliver a superior level of service as we attained new levels of financial strength and growth in 2021. Throughout the unpredictability of the year, our staff, management and board worked together diligently to provide a friction-free and member-focused banking experience while remaining proactive, flexible and responsive to rapid shifts in protocols to protect the health and safety of all. We are incredibly proud of our team’s handling of the coronavirus pandemic under the leadership of our President and CEO, Harold Roundtree, who showed up daily to support our dedicated in-branch staff and to ensure continuity in service.

In our ongoing effort to enhance the financial lives of our members, our credit union is committed to delivering accessible financial education and innovative tools to help members reach important life goals and protect their future security. The COVID-19 pandemic and the ensuing economic turbulence experienced in 2020 and 2021 have only underscored the importance of preparing and planning for uncertain times. Under our growing Wealth Management Division, we’ve expanded our free seminars and workshops across a range of topics that address these issues, from estate planning and long-term care, to investing basics and ROTH IRAs. We strongly encourage our members to take advantage of these valuable offerings, many of which have been made available on our financial education blog and shared through our communication channels.

In spring of 2021, we completed a major upgrade to our technology infrastructure with the successful launch of a state-of-the-art digital banking platform through a partnership with Alkami Technology, Inc. Fast, intuitive and highly secure, the new platform allows for easy and convenient completion of everyday banking activities, as well as an effective way for members to manage their finances from a holistic perspective. A user-friendly interface synchronized across all devices enables users to quickly access all of their financial accounts under a single login. In addition, features like customized notifications, credit monitoring and educational content can provide members important insight into their financial health, and practical steps they can take to improve it.

As a multiple award-winning organization, UNCLE has earned distinction among our industry and our communities for excellence in service, value, culture, leadership, philanthropy, and financial strength and performance. We are grateful and humbled by this recognition and endeavor to consistently meet and exceed expectations as an organization worthy of this acclaim. For the fourth consecutive year in 2021, we were named “Best in East Bay” for credit unions by readers of the East Bay Times. And after only four years with a branch presence in Stockton, we were thrilled to have won the title of “Best Credit Union in San Joaquin” by The Record, the daily newspaper serving Stockton and the surrounding areas. Also in 2021, the Pleasanton Chamber of Commerce honored our credit union as the winner of the “Business Philanthropy” award at its 57th Annual Community Service Awards ceremony.

Since its inception, your credit union has been a leading contributor to many of the worthy causes and vital services that are improving and enriching quality of life in the communities we serve. Each year, every organizational level at UNCLE works together toward community-focused goals — hosting and sponsoring local events, making regular contributions to local nonprofits, teaming up on charitable fundraisers, and spearheading impactful initiatives including efforts to promote financial literacy and smart money management. Among the highlights of our philanthropic endowments in 2021 was our $10,000 donation to the Livermore Lab Foundation, an organization we have supported since it was established in 2017, and one that shares our vision of the critical role that science and technology have in creating a better world for ourselves and future generations.

In reflecting on our 65 years of service, we celebrate the legacy of mutual assistance and shared purpose that have empowered our credit union to prosper and thrive for the benefit of our members and our communities. In an extraordinary year of an ongoing global crisis, UNCLE Credit Union took powerful strides forward along a steady course to build member value through sustainable growth and long-term organizational health. On behalf of UNCLE Credit Union’s Board of Directors, thank you for your confidence and trust as we rise to new levels of financial strength and greater opportunities together.

Chung Bothwell, JD, LLM
Chairman, Board of Directors