Annual Report

2023 Chairman’s Report

2023 was another year of rising interest rates, as the Federal Reserve moved several times throughout the year to increase rates to combat...

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2023 was another year of rising interest rates, as the Federal Reserve moved several times throughout the year to increase rates to combat inflation. Here at Earthmover, that was good news for our savers. We were able to offer several specials on certificates of deposit, allowing members to earn above-market rates on their savings. We strived to maintain competitive rates on our loan products, but high rates held loan growth to just 5.79%.

We had another exceptional year financially with over $5.1 million in net income. Our capital grew to an amazing 18.91% thanks to your continued support. Earthmover continued its efforts to be a good corporate citizen, giving back $30,000 to 24 different charitable organizations in Kane, Kendall, DuPage, Will, DeKalb, Grundy and LaSalle counties. We had another very successful internal drive to help the Fox Valley United Way, raising over $9,000 to help this organization that leads the way in helping families facing financial hardship in our area. Earthmover holds various fundraisers throughout the year to help different families in need through its Earthgivers charity committee. This year we raised over $9,000 through sales of candy or popcorn in our branches, a fundraiser barbecue, and with your support.

We introduced Notifi this year, allowing our members to receive real-time alerts about activity on their accounts. We also held two educational workshops in 2023, educating our members on subjects like retirement and business basics.

We’re thrilled to announce your Board of Directors has approved over $3.1 million in funds for remodels and much needed renovations to our branch offices over the next two years. We’ll begin in March 2024 with our Yorkville branch, followed in May with our Aurora branch. We will conclude in 2025 with the Montgomery and Oswego branches.

Our volunteer Board of Directors serves at your pleasure, and it is our privilege to do so. We value the trust you place in us to guide the direction of the credit union and welcome any suggestions you may have throughout the year.

Merger

Earthmover to merge with Peoples Energy Credit Union

We’ve had some exciting news in the works, and we’re finally ready to share it! Earthmover Credit Union and Peoples Energy Credit Union are...

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We’ve had some exciting news in the works, and we’re finally ready to share it! Earthmover Credit Union and Peoples Energy Credit Union are excited to announce an upcoming merger! This year, we’ll be welcoming over 1,900 new members with open arms. Read the press release below for full details:

Earthmover Credit Union to Merge with Peoples Energy Credit Union OSWEGO, Ill. — Earthmover Credit Union (ECU) and Peoples Energy Credit Union are excited to announce their upcoming merger. Peoples Energy Credit Union members will join Earthmover Credit Union’s membership and operate under the Earthmover name.

“Merging with Earthmover Credit Union will allow us to continue acting in the best interest of our members by providing convenient access to a wider range of products and services, better technology and more value, without sacrificing the service you expect and deserve from a credit union,” Peoples Energy Board Chairperson Cecilia James said.

This mutually beneficial decision was reached in order to ensure the long-term success of Peoples Energy Credit Union’s membership. The merger will expand the availability of products and services for Peoples Energy members. The merger is expected to be completed by June 1, 2024.

Peoples Energy Credit Union selected Earthmover Credit Union as a suitable merger candidate based on their impressive commitment to financial wellness, organizational strength and shared mission. Peoples Energy Credit Union brings 1,900 valued members with them.

“We are eager to welcome the Peoples Energy members into the Earthmover family and share our many products and services with them,” Earthmover Credit Union President/CEO Kelly McDonough said. “We will be reaching out to welcome them and hope to strengthen our relationship.”

Earthmover Credit Union has over $380 million in assets and over 29,000 members, serving the northern Illinois community since 1958. The Peoples Energy Credit Union location in Chicago will permanently close and members will now be served at any of Earthmover’s five branches and ATM network.

Peoples Energy members will receive information with details regarding the merger. Earthmover’s website will be kept updated with the latest information. Both parties are predicting a smooth transition that will ensure the continued financial strength of both memberships.

ECU is a not-for-profit full-service banking institution that has been serving its members for over 60 years. Membership is available to anyone living or working in one of the following counties: Kendall, Kane, DuPage, Will, LaSalle, DeKalb and Grundy. As a not-for-profit organization, Earthmover returns its earnings to its members through lower loan rates, higher savings rates, lower fees and more. ECU currently provides banking services to over 29,000 members at its six branch offices, located in Yorkville, Montgomery, Oswego, Aurora and North Aurora, as well as a student-run branch in the Oswego High School. For more information, please contact ECU at 630-844-4950 or log onto www.earthmovercu.com.

HELOC

Spring is the season for change

With spring in full swing, your head is likely brimming with ideas and projects for your home. Or perhaps a dream vacation is filing your...

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With spring in full swing, your head is likely brimming with ideas and projects for your home. Or perhaps a dream vacation is filing your Pinterest board. Or maybe you want a fresh start by consolidating your high-rate credit cards into one nice, neat and much (much) lower monthly payment.

You can have it all with an Earthmover Home Equity Loan or Line of Credit from Earthmover. Not only does this dynamic line of credit allow you to stretch your creativity as well as your budget, but it comes with no closing costs* and lets you draw money from the line as you need it, only paying interest on the amount you draw from.

Start those improvements

* Credit union membership required.

Security

Cybersecurity and you

Cybersecurity is no longer a niche concern of IT departments but a boardroom imperative. As cyber threats grow more sophisticated, our approaches...

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Cybersecurity is no longer a niche concern of IT departments but a boardroom imperative. As cyber threats grow more sophisticated, our approaches to safeguarding digital assets must evolve. We're witnessing a significant shift towards proactive risk management, emphasizing early detection and rapid response capabilities. It’s about building resilience, ensuring operations can withstand and quickly recover from security incidents.

The conversation has expanded to include the importance of educating our members about cybersecurity. Awareness and vigilance are powerful defenses against cyber threats. By empowering our members with knowledge and tools to protect their information, we enhance our collective security.

In today’s digital age, the security of our members’ financial information is not just a priority but a fundamental responsibility. The conversation around cybersecurity is increasingly centered on not if—but when and how—we respond to potential threats.

As we navigate this challenging landscape, collaboration across industries and with regulatory bodies is vital. Sharing knowledge, resources and best practices can help us stay one step ahead of cybercriminals. Together, we can build a safer financial ecosystem for everyone.

Staff Anniversaries

2024 Staff Anniversaries

Every month, we continue to see the same wonderful, smiling faces behind our teller counters, in the branches and at our main office. While our...

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Every month, we continue to see the same wonderful, smiling faces behind our teller counters, in the branches and at our main office. While our Earthmover family continues to grow, here are a handful of anniversaries we’re celebrating this season:

Kelly McDonough | President + CEO (5 years)

“I can’t believe it’s been five years already! Time has just flown by! I’ve enjoyed every minute of my time here and the ECU family has taught me so much.”

Maritza Rangel | Branch Manager (10 years)

“These past ten years have been amazing! I have grown leaps and bounds in my professional career, thanks to various opportunities that ECU has provided. Growing, developing and leading the team and seeing team members receive promotions is fulfilling. ECU is a great place to work.”

Amber Lockman | Sr. Branch Manager (10 years)

“Making a positive impact on our members’ financial lives is so rewarding. Nothing beats calculating the savings for member for their refinances and balance transfers. Earthmover has given me many opportuniteis to develop my skills through workshops and conferences. I am proud to be a part of the Earthmover community.”

Jean Clayton | Call Center Manager (45 years)

Jean Clayton, Call Center Manager, 45 years
Community

Earthgivers 2024 is off to a great start!

To start the year, the Earthmover charity committee, Earthgivers, raised $1,600 for the Vera Family of Aurora. Francisco & Jacky Vera passed away...

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To start the year, the Earthmover charity committee, Earthgivers, raised $1,600 for the Vera Family of Aurora. Francisco & Jacky Vera passed away in a vehicle accident in December 2023. We sold Sarris chocolate pretzels to help the family with funeral and medical costs. Thank you for your support and donations. It’s because of you that our community thrives!

What’s in store for Earthgivers? This summer we’ll be hosting a Versiti Mobile Blood drive, so stay tuned for details.

Announcement

Opening our doors to improvements!

Remember that rebrand we did in 2022? You know, the logo you’re currently looking at. Well, it’s time we bring that look into our branches!...

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Remember that rebrand we did in 2022? You know, the logo you’re currently looking at. Well, it’s time we bring that look into our branches! Get ready for a fresh new look inside the branches with an upcoming remodel, completing the final stage of our rebrand.

The remodel will take a phased approach through four branches over the next two years, eventually resulting in a cohesive look between all locations. The goal of this project is to modernize the branches, while also improving member experience to continue providing quality financial products and services to the community.

Read the full press release below!

Earthmover Credit Union Remodel to Revitalize Branch Experience

OSWEGO, Ill. — Earthmover Credit Union (ECU) is implementing a fresh appearance in its branches with an upcoming remodel, completing the final stage of its rebrand. The remodel will take a phased approach through four branches over the next two years, eventually resulting in a cohesive look between all locations. The goal of this project is to modernize the branches, while also improving member experience to continue providing quality financial products and services to the community.

“This is the last phase of our most recent rebrand,” Vice President of Marketing & Business Development Janel Cabadas said. “We will bring to life a more contemporary look and feel for both our members and staff.”

In October 2022, ECU rolled out a rebranded look with a new logo, color palette, tagline and design elements. The rebrand allows ECU to better align its look with its identity as a trusted local financial institution that provides competitive products and services.

To make this project come to life, ECU is collaborating with The Redmond Company, a Wisconsin-based integrated design and construction company that specializes in financial institutions. The result will be a cohesive look that ties together each branch to the ECU brand, demonstrating its steadfast commitment to accessible financial wellness.

“We partnered with The Redmond Company to see our vision become a reality, as we look for better visibility and brand recognition in our community,” Cabadas said. “It is important to us that our members feel uniformity at every Earthmover branch.”

Providing a more efficient and comfortable design enhances the overall member experience, while incorporating recognizable ECU branding elements helps establish identity and ties these locations to other branches and services.

“The slanted roof at new exterior entrances will add consistency between branches and creates recognizable feature easily seen from the road that will become synonymous with Earthmover,” Redmond’s Project Manager Christine Bailey said.

In March 2024, the Yorkville location will begin remodel work, and while operations will be affected, the branch will remain open for the duration of the project. In May 2024, the Aurora branch will temporarily close during the remodel. ECU’s Oswego and Montgomery branches will be remodeled at a later date. Members are encouraged to visit ECU’s website to get the latest news, as dates are subject to change.

ECU is a not-for-profit full-service banking institution that has been serving its members for over 60 years. Membership is available to anyone living or working in one of the following counties: Kendall, Kane, DuPage, Will, LaSalle, DeKalb and Grundy. As a not-for-profit organization, Earthmover returns its earnings to its members through lower loan rates, higher savings rates, lower fees and more. ECU currently provides banking services to over 29,000 members at its six branch offices, located in Yorkville, Montgomery, Oswego, Aurora and North Aurora, as well as a student-run branch in the Oswego High School. For more information, please contact ECU at 630-844-4950 or log onto www.earthmovercu.com.

The Redmond Company is a national Premier Design/Build Partner with 900+ financial projects completed. Services include: Prescriptive Analytics, Market Analysis, Trade Area Analysis, Branch Deployment Studies, Site Identification and Acquisition, Brand Integration, Architecture and Construction. For more information about The Redmond Company, visit www.TheRedmondCo.com.
Mortgages

Want a better mortgage rate?

With rates slowly (and thankfully) starting to decline, now’s a great time for a mortgage check-up. It’s easy to compare the rate you’re...

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With rates slowly (and thankfully) starting to decline, now’s a great time for a mortgage check-up. It’s easy to compare the rate you’re currently paying from another lender to a potential lower rate from Earthmover.

Step 1: Check out our current mortgage rates.

Step 2: Take a look at your current rate and give us a call to talk through potential options.

Step 3: Save money every month on your mortgage!

If we can’t offer you a lower rate now, check back regularly. Even a 1-2% difference can mean significant savings each month.

Don’t wait

Youth Month

Join us in celebrating Credit Union Youth Month

Throughout the month of April, join Earthmover in celebrating National Credit Union Youth Month. All month long we’ll be encouraging younger...

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Throughout the month of April, join Earthmover in celebrating National Credit Union Youth Month. All month long we’ll be encouraging younger members to save for a rainy day and help understand the value of saving as a lifelong habit.

Right now, we’re offering a 12-month, 5.00% APY* certificate of deposit special available until April 30, 2024. Teach kids about money and how quickly it can grow by opening your CD today.

While we take financial education seriously all year, April provides even more opportunities to work with members and community partners to promote financial wellness.

Keep an eye on our website and social media accounts for upcoming youth events and activities all month long.

Open at any branch

* APY=Annual Percentage Yield with a $500 minimum deposit, $2,000 maximum deposit. Rates are subject to change. One CD special valid per member. New and existing members qualify. Youth CD offer valid for individuals up to the age of 17. Rate available through April 29, 2024. ECU reserves the right to withhold any special offers. Certain restrictions apply. Minimum balance requirement is $500. There is a substantial penalty for early withdrawal. Fees could reduce earnings on the account. All of these accounts are based on monthly compounding of interest and monthly crediting of interest.

Earthgivers

Hope for Heaven

In January of last year, Heaven Loza was struck by a semi-truck and given a low chance of survival by doctors. The twenty year old, mother of...

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In January of last year, Heaven Loza was struck by a semi-truck and given a low chance of survival by doctors. The twenty year old, mother of two, now lives in the care of her mother and needs your help.

Because Heaven’s insurance does not cover all of her many medical expenses, Earthmover is raising funds to help the family purchase a much-needed wheelchair-accessible van.

By purchasing a chocolate bar at any Earthmover branch location, you’ll be directly supporting Heaven and her family.

Help Heaven

Financial Education

Get schooled on financial education

Tax season is often when we take stock of our overall finances. If we got a refund (or even if we didn’t), we’re more aware of the importance...

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Tax season is often when we take stock of our overall finances. If we got a refund (or even if we didn’t), we’re more aware of the importance of saving for the future (and our eventual retirement).

But fret not, because getting into the savings groove is easy with Earthmover by your side.

We’ve developed a great resource to provide you with excellent options for long-term saving. As you scroll through the page, you’ll find a variety of helpful videos—including Certificates of Deposit, IRAs, Estate Planning and Planning for Retirement.

When you’re ready to put your plan into action—or even beef up the plan you currently have—contact us. We’d love to walk you through your options.

Upcoming Holiday Closings

June 2024 19
Juneteenth Wednesday, June 19th
July 2024 4
Independence Day Thursday, July 4th

Upcoming Community Events

May 2024 18
Shred Event Saturday, May 18th
Community Shred Event in partnership with the Village of Montgomery will be held Saturday, May 18th 9am-12pm at 310 N. River St., Montgomery, IL.