2024 Q3 Highlights from the CEO

Hello everyone, and welcome to the final quarter of 2024, otherwise known as holiday season! More on this in a minute, but first…

Your credit union has exciting news to wrap up the third quarter!

Recalling back to my 2023 year-end summary, I mentioned that we are focused on being more inclusive with our field of membership (FOM) and seeking to expand the convenience we offer with more accessible physical locations. Throughout this year, our staff and our Board of Directors have been working with the National Credit Union Administration (NCUA, our regulator) to expand access to our products and services to more communities. Specifically, we have been working on adding the communities of Washington D.C., Prince George County Maryland, and Montgomery County Maryland.

This past month, our expansion was approved by the NCUA and adopted by our Board of Directors into our Field of Membership Charter. Now, anyone who lives, works, worships, or goes to school in these communities is eligible to join our credit union.

I cannot overstate how significant this is for our credit union. With this expanded FOM, we are now able to assist a population of over 1 million potential members to help them achieve financial well-being. As we deepen our connection with these communities in the coming years, we will help to empower, engage, and create opportunities for more families throughout the DMV region.

The benefit of serving these communities for the credit union will be the ability to grow exponentially, realize economies of scale, and provide more value back to you, our member, in the form of additional services, locations, and more competitive rates. We are tremendously excited about the world of opportunities that this expansion brings!

Be sure to help spread the word by telling your friends, neighbors, and community members about the value they can realize by becoming a member today.

Right now, we are in lease negotiations with a location in Prince George County to open a full-service and community accessible branch location. Stay tuned for more updates and announcements on this towards the end of the year.

More Fun…The Holiday Season!

We are now in the final quarter of 2024, and that means holidays are coming up soon! So many holidays come to mind: Indigenous People’s Day, Halloween (OK, not a holiday, but fun!), Veteran’s Day, Thanksgiving Day, Hanukkah, and Christmas.


This time of year can be very festive and stressful. Not to worry…we have you covered! In a few weeks, we will be rolling out our annual Holiday loan promotion, where you can access a special loan just to help navigate the spending and giving season.

I want to also remind you that with Labor CU loans you have the option to skip-a-payment up to two times per year, and you can do this on your own using our mobile or online banking platforms.

No matter what your financial goals are this season, our Certified Financial Counselors are ready to help you create a plan and provide solutions to meet your needs and goals. I encourage you all to lean into your credit union for help and advice, and contact us by phone, mobile or online banking, or by coming in to see us at our branch or community events.

Together, we are currently 8,300 members strong, and we are growing stronger everyday thanks to you, our members, who trust us to provide you with tools and resources to meet your ongoing financial needs.


Sincerely,


Thomas Domingue

President/CEO

Labor Credit Union