As one of Southern California’s premier credit unions since 1934, our unwavering dedication to serving our members is what keeps us competitive in today’s market. We put you, our members, first no matter what. Even during these unprecedented times, our dedication to serving your needs has remained consistent as all of our branches have remained open, operating at the same service hours. While other financial institutions closed locations and cut hours, Wescom expanded. In 2021, we reached our 200,000-member milestone and increased access to remote channels. Next year, we plan to open a new branch.
The strength of our financials also puts us in a strong position to build better lives for all Southern Californians. Wescom is currently in a position of financial strength, posting net earnings of more than $30.8 million for the 10 months ended October 31, 2021. We’ve also recorded $2.3 billion in loans to help build better lives for our members through auto loans, credit cards, and real estate loans. We thank you for putting your trust in us every day.
As a valued member-owner, you can rest assured that your money is safe at Wescom. With more than $5 billion in assets, we are one of the largest credit unions in the country, among the top two percent, and hold ourselves to higher capitalization rates than required by the National Credit Union Association. We’re proud to report that Wescom is in a position of financial strength, not only because of our financials, but because of you and the Southern California communities we serve.
