As we begin a new year, it’s a great time to reflect on all of the accomplishments and growth Michigan First achieved in 2016. We thank our members for helping to make last year full of reasons to celebrate. 2016 marked our 90th year in business and our commitment to enhancing member experiences remains our focus as we look to the next 90 years. Every day at Michigan First is an opportunity to serve you and we take that responsibility seriously, just as we have since 1926.
There were many notable moments in 2016 and here are some of the success highlights:
- With the objective of helping our members find more reasonably priced insurance of all types, Michigan First Insurance Agency was created in May. We are seeing very high numbers of members buying new policies and saving a lot of money!
- We opened three additional Kroger branch locations, with a fourth scheduled to open in Shelby Township in early January. That brings the total number of Kroger branches to eight and the total number of Michigan First locations to 17.
- Total membership now exceeds 128,000 and total assets are greater than $780 million.
- Our 365 Live Call Center has been serving members around the clock and total calls per month are now more than 60,000.
- More than $175 million in loans were granted to members, a record number.
- More than 97% of members were served within seven minutes at our teller lines.
- Almost 92% of members visiting our financial service representatives received service within ten minutes. This represents more than 150,000 visits to our branches.
During 2017, expect to see these additional improvements:
- We are looking to open additional Kroger branch locations if possible.
- Our Evergreen headquarters is now more than 10 years old and we need additional space to better serve our members. A building expansion is planned for the site and we expect construction to begin in spring. More details will be provided to members as they become available.
- Mortgage operations are being expanded. Expect to see significant growth for mortgages during the year.
- Our current mobile app is being updated with new features to help improve your mobile banking experience. Expect to see a vastly different and improved mobile app by the end of the first quarter.
The confidence you have placed in us and the additional business and referrals you send our way allow us to continue expanding our locations and services. We are humbled to have the opportunity to serve you and will do everything we can to continue earning your business, confidence, and trust. On behalf of the Board of Directors, Supervisory Committee, and the entire Michigan First team, I wish you a safe, healthy, and prosperous 2017.
Michael Poulos, President/CEO