Annual Report

We remain committed to your financial wellness

Year in Review

As of January 1, 2026 | View in Plain Text

2025 Annual Report

President's Message

At 1st United Credit Union, everything we do starts with people. This past year was no different. As I look back on 2025, I'm grateful for the trust you placed in us and proud of what we've accomplished together as a community. In 2025, more than 4,600 neighbors joined 1st United and we funded over 5,100 loans totaling over $815 million. 1^st United now has over 63,000 memberships and $1.25 billion in assets.

We introduced new ways to better support your financial health. Our Courtesy Pay fee reduced to $14, helping you keep more of your money where it belongs. We launched Legal Karma, a guided online tool that makes estate planning simple, affordable, and easy to access. We also hosted an estate planning webinar where 98 attendees were able to learn about wills, trusts, and powers of attorney. With financial education being a core part of our mission, we led 13 financial literacy workshops for local schools and four fraud education seminars within our communities. We reduced our loan rates, and helped 760 members refinance their auto loans to save money.

Beyond banking, we stayed active in our local communities. We hosted six free community shredding events, helping protect 570 identities and shredding over 27 tons of sensitive documents. We continued our partnership with Alameda County Community Food Bank and hosted a year-round food drive at all of our branch locations. As a result, we collected 22,000 pounds of food, estimated to provide over 18,000 meals to those in need. We connected with many of you at local events such as the Alameda County Health Benefit Fairs, Castro Valley Fall Festival, and Fremont Art and Wine Festival.

We celebrated the grand reopening of our newly remodeled Oakland branch. If you haven't already, stop by to check out the new and improved space. We'll be happy to see you!

As your local, not-for-profit Credit Union, our focus remains simple — to provide local, personalized banking that you can count on.

Thank you for being part of 1st United. We're excited for what's ahead and look forward to continuing this journey together.

Chair's Report

As a not-for-profit financial cooperative, our top priority is the financial health of our members and the community. This commitment guides every decision we make— and it will never change.

As Chair of the Board of Directors, I’m continually inspired by the dedication of our employees and our volunteer Board of Directors who serve alongside me. Together, we work to ensure 1st United remains safe, sound, and positioned to deliver lasting value to our member-owners.

This year, we reported net income of $10.6 million and grew total assets to $1.25 billion, reflecting the continued trust of more than 63,000 members. We also remained well-capitalized with a net worth ratio of 11.89%, exceeding regulatory standards and reinforcing the strength and stability of our Credit Union.

To support our continued growth, we expanded our Supervisory Committee to seven volunteer members, enhancing oversight, accountability, and protection for our members.

On behalf of the Board, thank you to our staff for their commitment and care, and to our members for your continued trust. It’s a privilege to serve you—and to help build a stronger financial future for our community, together.

Dave Macdonald, Chair, Board of Directors

Supervisory Committee Report

1st United Credit Union’s volunteer Supervisory Committee ensures that an annual audit of financial statements takes place and monitors internal controls in order to safeguard member assets.

In 2025, the Supervisory Committee engaged an independent audit firm to perform the financial audit. The results of the audit were favorable and determined 1st United Credit Union to be safe and sound in policy and practice. The audit, conducted in accordance with Generally Accepted Accounting Principles (GAAP), indicated that 1st United Credit Union remains strong and financially stable.

Cecilia Leon, Chair, Supervisory Committee

Treasurer's Report

The Treasurer of 1st United Credit Union oversees and ensures the accuracy of the financial reports as presented to the Board of Directors by the management of the Credit Union.

1st United continues to grow and gain financial strength. Total year-end assets for 2025 were $1.247 billion. I am confident that 1st United will continue its great tradition of service to its members within the framework of financial strength and stability.