CEO Letter To Members 2025 Q4

Posted: December 23, 2025

December 23, 2025
FROM CEO THOMAS DOMINGUE

As we approach the end of the year, I like to reflect on what we have been through or accomplished, and what we are looking forward to in the new year. 2025 was chaotic, and challenging for many of us, for many reasons. Here in Washington D.C. and serving a membership that largely depends on the federal government means that we cannot escape or avoid the impact that politics has on the financial well-being of our members. While the precise numbers have not been released, estimates suggest that more than 2,700 USDOL employees were affected by this year’s policies involving forced resignations or reductions in force. Being pushed into retirement before you are financially or emotionally prepared can feel overwhelming and challenging. Thankfully, we were able to help hundreds of our members who found themselves in this position navigate their transition by working with our retirement and long-term financial planning representatives. If you find yourself contemplating retirement or transitioning in your career or life for 2026, make sure to take advantage of your dedicated resource and book an appointment with your financial counselor today!

The hits in 2025 didn’t stop with the RIF policies, as the federal government shutdown for 43 days starting October
1st. The shutdown caused financial difficulties and uncertainty for over 10,000 USDOL employees who were
furloughed, as well as for most of our members who had to get through this period without receiving a paycheck.
Your credit union rose to the challenge and met our mission of being the foundation for your financial success by
stepping in with loan payment deferrals, fee waivers, and emergency loans to help our members get through this
uncertain and challenging time. Your credit union supported our membership by deferring more than $160,000
in loan payments, waiving $24,500 in fees for members, and providing $160,000 in emergency loans to
members. These figures represent significant value for being a member of Labor Credit Union, who is there for
our members not only when times are good, but when our members need help the most.

Two major disruptions in a single year are a lot to overcome. Through the strength of our cooperative, however,
Labor Credit Union found ways to continue expanding, serving, and delivering on our value proposition. In our
quest to be the foundation of financial success for our members, we place an emphasis on educating our members
on how to achieve success with your financial goals. In 2025, we conducted 22 events or seminars throughout the
DMV region and online with topics ranging from budgeting to understanding the emotional power of spending,
from planning for college expenses to planning for retirement, and everything in between that life challenges with
us. More than 620 individuals attended these seminars and learned actionable tips and strategies to help secure
their financial future.

Also, this year, we were fortunate enough to continue honoring our former Board Chair, the late Dr. Kevin Jackson,
by funding $5,000 in scholarships in Dr. Jackson’s name to graduating seniors of H.D. Woodson High School to
support their pursuits of higher education.

In my quarterly updates earlier this year, I highlighted our efforts to further support our small business
entrepreneurs within our membership with the launching of our small business line of credit loans back in July, as
well as the exciting expansion of our branch network with the opening of our branch located in the Suitland
Federal Center back in September. If you are located here in the DMV region, you also might have seen Labor
Credit Union commercials airing on WUSA 9, including during the Washington Commanders televised games. The
inclusion of TV advertising was a pivotal step in helping to elevate awareness throughout the DMV region
regarding the value of your credit union and how we help thousands of individuals reach their financial goals each
year.

For the efforts that Labor Credit Union makes to serve our members, earlier this year Newsweek listed Labor
Credit Union as one of the top 500 credit unions in America – showcasing the value that we create for our members
through our product and service offerings, and service delivery.

I feel fortunate, and honored, to lead our credit union and for the work our staff does every day to help our
members achieve financial success…in good times and through the more challenging times we faced this year.
As we look ahead into 2026, our focus remains centered on improving the financial well-being of our members.

We are planning to increase the number and locations of our financial seminars to help more individuals feel
empowered, we are close…very close to opening our new community accessible branch on St. Barnabas road
(yes…I know, I’ve been saying this for the past two quarters and we are almost there!), and to help further support
the communities we serve our staff will be volunteering regularly throughout the region, where we are striving to
provide over 1,500 of volunteer hours into our community.

Wrapping up 2025, I hope that each of you have an enjoyable holiday season. I wish you all a Happy New Year
2026, and I look forward to continuing to serve you in your pursuit of financial well-being.

Sincerely,

Thomas Domingue
President/CEO
Labor Credit Union