WesCorp News
Join Us! Credit Union Outlook Conference - September 22-25 - Wynn, Las Vegas
As credit unions look ahead, they will need all the tools available to
navigate investing strategies in the uncertain markets that will likely resonate in 2009. We’ll cover a wide range of current issues that will give you a competitive edge such as:
LIBOR pricing volatility:
- Its impact on pricing of all spread products.
- What is the outlook for a return to narrower spreads?
Ongoing lending obstacles:
- How to handle issues with all types of loan products.
- What to do about high levels of loan charge-offs and the resulting pressure on earnings.
The education will be unparalleled and peer collaboration will bring it all together at the credit union conference you can't afford to miss.
Register now. Discounted price continues until August 22.
WesCorp welcomes new Director, Member Credit Administration.
Say hello to the newest member of WesCorp’s management team. Henry Wesolowski has joined WesCorp as Director of Member Credit Administration. Henry comes to us from Inland Community Bank, Ontario, Calif., where he was Vice President of Credit Administration. Henry has thirty years of credit and financial experience. He is a graduate of University of California, Riverside in Environmental Sciences and Air Pollution Chemistry.
WesCorp recently established a new Member Credit Administration department to oversee credit approvals and member loans.
WesCorp’s 2007 Annual Report now available
We are delighted to present WesCorp’s 2007 Annual Report, which includes certified financial statements by the auditing firm KPMG, LLC. You will see on reviewing this report that WesCorp’s 2007 financial performance was the best in our 39-year history.
With you at our side, 2008 holds a similar promise. To date, WesCorp is ahead of projected earnings and we are confident this trend will continue for the remainder of the year. Although the financial markets continue to experience the volatility we’ve seen for some time, all of our corporate investment holdings continue to perform flawlessly and our liquidity sources are more than ample to meet our obligations. Our financial expertise along with our culture, one that upholds safe and sound investment and operating practices, have proven to be an uncompromising strength through these tumultuous times.
The same can be said of our corporate credit union colleagues. Together as one network, we are dedicating more resources and avidly maintaining our vigilance to ensure that we remain safe and strong for you, shielding you from the current market dislocation so that you can focus on what matters most to you—your members.
We hope that this annual report, along with the new Due Diligence page on Member Center and the series of quarterly Safety and Soundness webcasts we offer featuring WesCorp’s senior executives, help not only to maintain a partnership that is valued as transparent and honest but one that also instills confidence and peace of mind.
Once again, thank you for your continued trust and support of WesCorp.
Respectfully,
Bob Siravo
President/CEO
Click to review WesCorp’s certified financial statements.
Click here to request a printed copy of WesCorp’s complete Annual Report, which includes a CD.