VLFCU Annual Report

our profile VacationLand Federal Credit Union, (the Credit Union), was founded in 1956 by employees of the Sandusky, Ohio General Motors Plant. In 2001, the Credit Union expanded its field of membership including anyone who lives, works, worships, attends school or has a business or organization in Erie County, Ohio. In 2010, the Credit Union extended its membership into Huron County, Ohio by merging with School Employees Federal Credit Union (SEFCU) to include employees of the Boards of Education who work in Huron County and employees of the Board of Education of EHOVE Joint Vocational School in Erie County. In 2017, the Credit Union expanded its membership through the merger with the Sandusky Ohio Edison Employees Federal Credit Union. Membership eligibility extends to employees of the Ohio Edison Company who work in Sandusky, Bellevue, Port Clinton or Norwalk, Ohio; spouses of persons who died while within the field of membership of this credit union; retired persons, members of their immediate families; and organizations of such persons. In 2020, the Credit Union once again expanded its field of membership to include anyone who lives, works, worships, attends school or has a business organization in Huron County, Ohio; York Township, Sandusky County Ohio; Adams, Thomas, Reed and Venice Townships, Seneca County, Ohio; and the Village of Green Springs, Ohio. Today, VacationLand Federal Credit Union is a member-owned, not-for-profit financial cooperative dedicated to being the lifetime financial institution of its members, by providing services at lower or no fees, or loans with lower rates plus deposit products with higher dividend rates. VacationLand Federal Credit Union is a federally chartered credit union, regulated by the National Credit Union Administration (NCUA), an agency of the federal government. Credit unions are the only democratically controlled financial institution in the U. S. Members elect a volunteer board of directors to govern the credit union. In contrast, banks are for- profit entities, governed by a paid board of directors, with all profits benefitting the bank shareholders. The Annual Meeting of the owners of VacationLand Federal Credit Union will be held at 8:00 a.m. on Wednesday, March 15, 2023. The meeting will be held in the branch lobby located at 2911 Hayes Avenue, Sandusky, Ohio.