Building Connections for Your Financial Success Members Choice Credit Union 2021 Annual Report

Message from the Chairman of the Board

In 2021, we reached an important milestone and celebrated our 80th anniversary helping members like you.

While the forum and format of these meetings have changed – it’s been two years since we were able to have an in person Annual Meeting – the cooperative spirit of our membership remains the same.

Fundamentally, we are charged with providing products and services that help our members find financial success. I’m thankful to say that despite the difficulties of the past few years, the dedicated efforts of our management and employees helped us to fulfill our mission. I’m also thankful to our loyal members who are the foundation of our credit union. Your long-term partnership with us is one of the reasons we have remained strong, and we were pleased to celebrate you by providing member appreciation events and discounts this year.

With many of our members now choosing to access their services remotely, we made a dedicated effort to invest in ways we could better meet financial needs in this increasingly digital world. In 2021 we invested in upgrading the business processes and technologies used to provide digital services and convenient experiences.

We also invested in new partnerships with over 300 auto dealerships in Texas, over 200 of which are right here in the Greater Houston area. We help thousands of members get into new vehicles each year, and being able to do that conveniently within one trip to the dealer helps more Houstonians get great low rates for their vehicles, while also becoming part of the credit union family.

In addition to deploying resources to help our members, we continued to invest in the community. MCCU employees are some of the finest, and the generosity they showed toward giving and volunteerism continues to set a high bar for our credit union mission.

As we move beyond 2021, and now into 2022, we are preparing for the next 80 years of serving our members anytime, anywhere they need us. Whether you’ve been a member for decades or just a few weeks, know that our united efforts and cooperative spirit gives strength to our credit union. We appreciate your membership and never take it for granted.

We are as strong now as we have ever been. Wishing you a safe and healthy 2022.

Sincerely, Johnny Williams, Chairman of the Board of Directors

Message from the President and CEO

In the past few years, we have addressed our share of challenges, which has only deepened our long-standing commitment to our members, employees, and community. Today, we have built upon the foundation of our values as a member-centric organization to create a plan that will help build the credit union of the future. Through that, we will continue to meet the evolving needs of our members as we exit the pandemic.

Because we are a member-owned financial cooperative, when you do better, we all do better. With our business model, instead of paying dividends to shareholders, we put money back into the hands of you, our members. We typically do this through loan rate discounts, cash back rewards and higher rates on deposits. When revenues exceed expenses, we also reinvest in our operations and technology to provide more services and value to you

When deciding on strategic project investments, we always ask the important questions first. Is this something our members want? Will this make our members’ financial lives better? Can we meet these needs efficiently and effectively using the credit union’s resources?

For improved digital experiences, the answer to these questions was ‘yes.’ In 2021, we invested in projects to meet your needs on where and how you prefer to bank. This includes:

• Helping you reduce fees for digital payment options, such as using your debit card to pay loans online without any fees
• Providing safer and more convenient access to your digital documents, right from your desktop or mobile app
• Posting daily mortgage rate quotes online to help you more quickly check rates when looking to refinance or purchase home or land
• The launch of our new SmartApp for easier online applications anytime, anywhere you need access to a new account or loan

Our members told us they want the best of both worlds, and we don’t think you need to choose between technology and service. We know that with many financial needs, having a personal relationship with us is important, and yet there are also times when digital convenience is needed.

Because we exist to serve you, our members, we will always be there to provide support for your unexpected assistance needs, while still investing in growth.

We helped our members get access to their accounts, or to funds needed to make emergency repairs, through the extraordinary outages caused by the February 2021 winter storms. We owe a huge debt of gratitude to our employees, many of whom worked through their own power outages to help our members. Please know that regardless of the challenges, we will never stop working for you.

I would like to thank our dedicated employees at all levels for their resolve. We saw a lot of progress with our strategic initiatives in 2021, while at the same time meeting our organizational goals, to build a growing and strong credit union for you.

Thank You, Randy Theilig, President & CEO