Wescom 2018 Annual Report
To Become Southern California's Premier Banking Partner by Providing Personalized and Innovative Service in Every Interaction, and Making a Difference in the Communities We Serve.
Wescom Vision Statement
A community doesn't form in one day, or start with one person. A community is created when a group of people come together and work toward a common goal — this is how the Credit Union Movement and Wescom were started.
(Dollars In Thousands)
|2018 ($)||2017 ($)||Increase|
Looking ahead to 2019, we are confident of the strong foundation we build this year to lead the Credit Union on a path to great success.
- 2016 - $3.19
- 2017 - $3.36
- 2018 - $3.47
- 2016 - $2.59
- 2017 - $2.75
- 2018 - $2.83
- 2015 - $1.90
- 2016 - $2.10
- 2018 - $2.28
We Are, Southern California's Credit Union
In 2018 we reflected upon who we are as a Credit Union, about to celebrate our 85th anniversary, which gave us an opportunity to make changes to our Purpose, Mission, and Vision statements. We wanted to make sure that these statements support our long-standing history of focus on Southern California communities and our members' overall banking experience with us.
SoCal service area: Los Angeles, Orange, Riverside, San Bernardino, Ventura, San Diego, Imperial, and Santa Barbara.
to become Southern California's premier banking partner by providing personalized and innovative service in every interaction, and making a difference in the communities we serve.
- Member Focus
- Continuous Improvement
- Mutual Respect
To exceed expectations in everything we do.
To help Southern Californians build better lives.
23 branches in SoCal
Nearly 200,000 members
30,000+ fee-free ATMs nationwide
through the CO-OP® Network
Big Blue served as a
mobile banking center
at 200 community
presented by Wescom
Whether our members came to us for their very first checking account as a college student, a mortgage to put their roots down, retirement planning, or because their family or friend referred them to Wescom, they came to us with individual, unique banking needs. In 2018, our goal was to provide personalized and innovative service in every interaction, and act with our members' needs first.
MEMBERS HAVE A WESCOM FINANCIAL SERVICES ACCOUNT
Home Equity Lines of Credit Opened
"I ﬁnd it very easy to use my Wescom Mobile App and eBranch to view my balances, BillPayer, and transfers. I currently have my auto insurance and my home insurance with Wescom Insurance Services. It's been very easy to have my monthly expenses drawn from my account without having to worry about writing checks or entering in my debit card for every transaction."
of our members are signature or platinum signature members
In 2018, we helped members qualify for Signature Membership by increasing the Signature Relationship values on services that really make a difference in our members' lives, such as mortgages, HELOCs, credit cards, and WFS accounts.
increase in new UCLA account openings
increase in new auto loans
"There's always a way to infuse charm into any brand. Teaching Wescom how to engage with the community through (social media) via likes, via commenting, via direct message, is high on the list of what I feel is so important — I feel a lot of companies miss that. It's so important that I actually live what I am promoting on @pasadenacharm — so my family's primary bank account is with Wescom and I just felt that really has added to my professional partnership with Wescom and helped us to have a long-term relationship."
Find us on:
14,000 Likes, shares, retweets, and comments across aLL of our sociaL media channeLs
When we looked at how we wanted to improve in 2018, we focused on the feedback our members gave us through surveys, our social media channels, or speaking to one of us at the Credit Union. The question we frequently asked before making a decision or change is, "What will our members think?" By listening to our members' needs and providing them with the products and services they wanted, we recorded growth in nearly all service areas.
Total number of times Wescom was displayed in online and print media outlets
We want to help our members make important financial decisions by giving them the tools and resources they need. In 2018, we continued to offer various financial education tools, resources, seminars, and workshops. When logging into the mobile app, members noticed a new, recurring educational page featuring new or existing services available on the app. Our financial education efforts also expanded to students from UCLA, surrounding high schools, and AbilityFirst, a non-profit organization that supports individuals with developmental disabilities and their families. Hosting Bite of Reality workshops for these young audiences allowed us to lay the foundation for a long-term, positive financial future with Wescom.
"We counted money. I learned how much a car and a house cost. And I liked going through the different booths and meeting (Wescom) staff."
"(Bite of Reality) was such an incredible experience for all of our AbilityFirst College to Career participants. Our students were able to learn how to be financially responsible and also be aware of what they can and cannot afford in terms of purchasing a car, paying for school, and other everyday needs. AbilityFirst is extremely grateful for the support we have received from Wescom and we look forward to continuing our partnership together in the local community."
Real Estate Seminars
UCLA students, faculty, staff, and alumni experienced the Wescom Difference in 2018
donated to the National Multiple Sclerosis (MS) Society over our 12 year participation in the Bike MS Ride
"I was very impressed by Wescom sponsoring (UCLA Athletics) because they are such an outstanding Credit Union. It's great for me because I use the ATM at Pauley Pavilion. It just works out really well
When there was a city festival, parade, or street fair in Southern California, Wescom was there. When our communities were in need, our members, team members, and the WeCare Foundation provided disaster relief. When we saw an opportunity to help more Southern Californians experience the Wescom difference, we announced our extended partnership as the Official Banking Partner of UCLA Athletics, the Rose Bowl Stadium, UCLA Campus Life and Recreation, and UCLA Alumni Association. In 2018, we actively lived our new vision of helping Southern Californians build better lives through donations to local charities, participation in community events, and expanding our services to the greater UCLA community.