2025 Q1 Highlights from the CEO
Posted: March 31, 2025
2025 Q1
From CEO Thomas Domingue
So far, through the first quarter of the year, 2025 can only be described as disruptive and chaotic. The exhaustive pace of Executive Orders coming from the new Administration, and the disruptive nature of their actions have had tangible impacts on our membership, and our credit union. I have no doubt that the changes in your routines over the past few months, including the return-to-office mandates, the imposition of tariffs and higher costs at grocery stores and gas stations, the reduction of public transit subsidies, the deferred resignation option, and the shifting landscape of permissible policies around inclusivity have caused challenges, frustration, and disruption in your lives.
On top of these changes, earlier this month we narrowly avoided a disastrous government shutdown, and with the focus on reducing the size of the government workforce there remains a high degree of uncertainty and anxiety plaguing our membership. These topics have been the focal point of discussion between our volunteer Board of Directors, and our Executive Team.
April is Financial Literacy month, and the timing of this emphasis could not be more timely given the challenges
noted above. Labor Credit Union has always focused on your financial well-being, which is rooted in our mission
statement of being the foundation of financial success for our members. We have several resources that are
designed to help you navigate the challenging economic times we face right now. If you haven’t visited our website
recently, I encourage you to take advantage of the following resources we have available for you by clicking on
the hyperlinks.
- Deferred Resignation or retirement: If you find yourself contemplating the retirement stage of life, your first
priority should be to meet with Evan Kulak, your Financial Advisor. Evan will help you evaluate the options
you have regarding pension plans, your TSP retirement plan, tax implications, and health and insurance
coverage options, amongst other factors to consider when entering retirement. You can book an appointment
with Evan to meet one-on-one and plan for your success.
- Changing careers: You might be in a position where you need to change careers, and we have resources
available to help you with this as well. Our partnership with Employ PG, a non-profit organization in Prince
George County, Maryland, can help you with preparing or updating your resume, preparing for interviews,
and sourcing your next career opportunity.
- Knowledge Center: Our knowledge center page is full of articles, tutorials, and information on how to navigate
the complex world of personal finance. This page has resources to help protect you against fraud and ID theft
(as well as help you recover if you are a victim), understanding cryptocurrency and investing, access to tax
filing resources, and BALANCE. BALANCE provides educational tutorials on everything from understanding
your credit score to preparing for homeownership, and from budgeting to debt management. I highly
recommend you visit these resources often (they are great resources for helping you teach healthy financial
habits for your teenagers too!)
- Our Staff: Our team of Financial Wellness Advisors and Loan Advisors go through a rigorous training process
to become Certified Credit Union Financial Counselors (CCUFC). This program prepares them with the
knowledge and skills to help you understand your specific situation and create solutions for you to help you
navigate the financial challenges you face. You can set up virtual meetings with our staff, contact us through
the call center, or visit our branch to get the individualized help you need.
On May 14th, 2025, we will hold our 90th Annual Meeting for Labor Credit Union! The Annual Meeting will be at
the Frances Perkins Building at 12pm, and I encourage you all to attend. There will also be an online option to
view the meeting. This year, we have a strategic goal of growing to 9,000 members by year end, and we need
your help to get there.
Newsweek recently published their annual list of America’s Best Credit Unions 2025. This list highlights the top
500 credit unions in the country, and Newsweek has rated Labor Credit Union 4 ½ stars out of 5, and one (1) of
only six (6) financial institutions in the DC metropolitan area to make the list! Newsweek creates their annual list
based on several factors including credit quality, loan portfolio growth, press coverage over a two-year period,
and through millions of members and consumer review outlets.
To help us get to 9,000 members in our 90th year, you can refer people you know to join our credit union, which
is one of the top 500 credit unions, out of 4,600 credit unions, in the United States!
You can refer your friends, neighbors, co-workers, and family members to join. We have options available to help
anyone become a member, and benefit from the services we provide that promote financial well-being. The more
members we have within our cooperative, the stronger we will be and the more we can give back to all our
members. So, help us reach 9,000 by year end by enlisting those you know to join today!
In the coming weeks, be on the lookout for information from our marketing team on how to refer members to
join the credit union and earn money through our referral program.
2025 has gotten off to a tenuous start and looks like a bumpy year ahead. Labor Credit Union is here for you, and
once a member, always a member, no matter where life takes you on your journey. As the year unfolds, and as
your journey takes shape, we will continue to focus on Engaging, Empowering, and creating Opportunities for
our 8,400+ members.
Sincerely,
Thomas Domingue
President/CEO
Labor Credit Union