Annual Report
Messages to Our Members
ROB STUART President, CEO / Treasurer, Board of Directors
LELAND "ROCKY" JOHNSON Chair, Board of Directors
SHERYL MANNING Chair, Supervisory
Committee
2021 CEO/Board Chair Letter
The investments made during 2021 will generate results that support the continued prosperity of your credit union. – ROB STUART and LELAND "ROCKY" JOHNSON
Being a member of OnPoint has taken on new meaning in recent years. It no longer means simply having one share of the credit union or access to full-service financial products at competitive rates. Membership has come to mean so much more. Each of our 465,000 members brings together a mix of diverse perspectives and backgrounds and helps shape and guide this credit union each year.
Sustainability became one of our strongest commitments in 2021. OnPoint has embraced a culture that defines sustainability as meeting the needs of our current generation of members without compromising the needs of our future generation of members. Simply stated: we are committed to leading beyond banking.
The investments made during 2021 will generate results that support the continued prosperity of your credit union, alongside investments in the long-term sustainability of our communities and our environment. In addition, we continued our unwavering commitment to making a sustained, demonstrated impact on the equity within our workplace and in our community giving strategy.
2021 Supervisory Committee Report
OnPoint received an “unqualified opinion” from Moss Adams on its 2021 financial statements. This means that OnPoint Community Credit Union’s 2021 financial statements are fairly presented, in compliance with generally accepted accounting principles (GAAP). – SHERYL MANNING
I have the pleasure of chairing OnPoint Community Credit Union’s Supervisory Committee. We are a four-member committee and we meet quarterly during the year.
Our responsibilities are to:
- Review OnPoint Board-level policies, receive updates on management strategies, monitor financial results, and explore and discuss current credit union industry and accounting issues
- Review the Credit Union’s established practices and procedures to ensure they safeguard members’ assets
- Review audited financial results and ensure they are complete and timely
- Ensure member accounts are verified to credit union records periodically
To accomplish this, the Supervisory Committee arranges a comprehensive annual audit of OnPoint Community Credit Union’s financial statements. The 2021 audit was performed by Moss Adams, LLP. Moss Adams supports the Supervisory Committee, Board and staff with both their accounting expertise and their thorough understanding of the credit union industry.
Upon completion of the 2021 audit, the Supervisory Committee reviewed the details of the audited financial statements and asked the auditors and staff questions. All questions were answered candidly and completely. You’ll find a summary of the financial results included in OnPoint’s 2021 Annual Report.
OnPoint received an “unqualified opinion” from Moss Adams on its 2021 financial statements. This means that OnPoint Community Credit Union’s 2021 financial statements are fairly presented, in compliance with generally accepted accounting principles (GAAP).
The results of this audit, combined with the periodic verification of members’ accounts, has provided the Supervisory Committee with assurance that the financial statements prepared by Credit Union management fairly reflect the financial condition of our Credit Union.