When 2020 started, we all had hopes, dreams and goals for the year. We were planning weddings, graduations, vacations and more. COVID-19 changed all that and we’re – you’re – still feeling the effects.
It’s hard to focus on our hopes and dreams when there’s so much that’s out of our control. That’s why we’re here, to help keep you focused and moving forward even in the tough times.
Since the pandemic hit, we’ve helped more than 3,500 members with payment relief totaling $4.8 million dollars. From a small business perspective, we helped 318 small businesses save 2,880 paychecks with nearly $25 million in forgivable loans through the SBA’s Paycheck Protection Program. Why? Because our members and these small businesses are what keep the Quad Cities region alive and prosperous.
Though 2020 has been hard, becoming an IHMVCU member isn’t. This year, we welcomed nearly 12,000 new members, taking us to 132,000 members strong. We turned your deposits into community improvement by lending more than $930 million dollars through 51,300 consumer loans. But our growth is more than new members and loans. It’s giving back to members – nearly one million dollars in rebates, rewards and incentives, and $13,369,690 paid out in dividends.
“Witnessing the sheer resilience of our members during times of crisis has been truly inspiring. At IHMVCU, I’ve had the opportunity to watch our team play a role in the success, determination and perseverance of our members. It’s this sense of unbridled purpose that has gotten us through 2020 and will no doubt guide us into the future as we move up together.”
- Ajay Singh, Board of Directors, Chair
As we look to 2021 with optimism, we reflect on the past 85 years and our mission to improve the financial wellbeing of our members and the communities we serve. We will not stop; we will continue to be your financial pathfinder and do everything we can to be here for you now, tomorrow and the years to come.
Move up with us,