2017 Annual Report

Federally Insured by NCUA

VacationLand Federal Credit Union (VLFCU) was founded in 1956 by employees of the Sandusky, Ohio General Motors Plant. In 2001, VLFCU expanded its fi eld of membership to include anyone who lives, works, and worships, attends school or has a business or organization in Erie County, Ohio.

Corporate Profile Insured Deposits In 2010, VacationLand Federal Credit Union businesses and organizations at fi ve branch Member depository accounts are insured up to extended its membership into Huron County, offi ces and 11 ATMs in the cities of Sandusky, $500,000. The fi rst $250,000 of insurance is Ohio by merging with School Employees Huron, Norwalk and Vermilion. We serve provided by NCUA’s National Credit Union Share Federal Credit Union (SEFCU) to include our members at over 5,600 CO-OP Shared Insurance Fund while the second $250,000 is made employees of the Boards of Education Branches and at over 25,000 MoneyPass and available through private insurance from Excess who work in Huron County and employees over 5,000 Alliance One surcharge-free ATM Share Insurance Company, paid for by VacationLand of the Board of Education of EHOVE Joint locations in the United States. Through 24- Federal Credit Union. Vocational School in Erie County. hour online banking, Remote Deposit Capture On September 29, 2017, VacationLand Federal and CU*Talk Telephone Account Access, we Corporate Headquarters Credit Union expanded its membership serve members wherever they are. through the merger with the Sandusky Ohio VacationLand Federal Credit Union is a VacationLand Federal Credit Union Edison Employees Federal Credit Union, member of Corporate One Federal Credit 2911 South Hayes Avenue acquiring $751,000 in assets and $128,000 Union, National Credit Union Administration’s Sandusky, Ohio 44870 in capital. (NCUA) Central Liquidity Facility, Federal Telephone: 419.625.9025 Toll Free 800.691.9299 Today, VacationLand Federal Credit Union is Reserve Bank of Cleveland’s Discount a member-owned, not-for-profi t cooperative Window and the Federal Home Loan Bank committ ed to being the lifetime fi nancial of Cincinnati. VacationLand Federal Credit institution of its members, by providing Union is an Equal Opportunity Employer and Annual Meeting an Equal Housing Lender. services at lower or no fees, loans with lower The Annual Meeting of the Credit Union’s owners will rates plus deposit products with higher VacationLand Federal Credit Union received be held at 8:00 A.M. on Wednesday, March 21, 2018 dividend rates. Low-income Designation through the at our Corporate Headquarters, 2911 Hayes Avenue, The Credit Union off ers its members a NCUA, providing benefi ts to VacationLand Sandusky, Ohio. full suite of fi nancial products including to help serve members who have challenges mortgage, home equity, consumer, student accessing fi nancial products and services. and credit card loans and a wide array Low-income designation benefi ts include: Independent Auditors of savings, checking, money market and ■ Accepting non-member deposits from any Doeren Mayhew, CPAs and Advisors certifi cate deposit products. source 305 West Big Beaver Road The Credit Union supports community ■ A gateway to community development Troy, Michigan 48084 employment opportunities by funding local fi nancial institution (CDFI) certifi cation small businesses. Business loan products ■ Opportunities to apply for grants and low- include equipment, auto, truck, lines of credit Privacy Policy interest loans and commercial real estate loans. The Privacy Policy of VacationLand Federal Credit With $215 million in assets, VacationLand Union describes how we safeguard our members’ Federal Credit Union, headquartered in fi nancial privacy. Your fi nancial privacy is our priority. Sandusky, Ohio serves over 18,800 members, For more information, visit us at www.vlfcu.org or call 419.625.9025.

2017 Annual Report 2 About Your Credit Union

Our Vision To be our members’ chosen lifetime fi nancial partner and to improve our communities for future generations.

Our Mission Guided by our core values, we exist as a not-for-profi t cooperative to serve and surpass by providing value and fi nancial freedom.

VacationLand Federal Credit Union is much more than a place for banking. We live and work in northern Ohio, and we’re dedicated to helping our members and our communities prosper and thrive. Every member of VLFCU is part of our family. We care about you and your well-being instead of the bott om line.

When you become a member, you become a shareholder of VacationLand Federal Credit Union. We’ll work for you as we work with you to manage your fi nances, invest in a new home or business, or save for retirement. Working together, we can all succeed.

3 VacationLand Federal Credit Union Many people may not know what makes VacationLand Federal Credit Union diff erent from other fi nancial institutions. Here are just a few ways that demonstrate our uniqueness:

We are Member-Owned As a member-owner, regardless how much you save or borrow, you determine who serves on the Board of Directors. You have one vote for each open Board of Director seat. Also, as a member-owner, annual meetings are open to you. We encourage you to att end.

We are Not-for-Profi t We are out to protect your wallet, not fi ll our own! We return profi ts to you, the members, in the form of lower loan rates, higher dividend rates, and low or no fees for services.

We are a Cooperative Cooperatives pool resources for the common good. In like fashion, depositors of VacationLand Federal Credit Union pool funds to lend to one another. Through our structure and operation, credit unions carry out the credit union philosophy of “people helping people.” At VacationLand Federal Credit Union, you’re not just an account number—you’re a member helping other members.

We are Volunteer Driven Each member of our Board of Directors is an unpaid volunteer you have elected to work in your best interest. Directors serve on Asset/Liability Management, By-Laws, Policy, Facilities, Marketing and Nominating committ ees, assisting management in making decisions on how to improve member products, service and operational effi ciencies.

Put another wayy, VacationLand Federal Credit Union is diff erentt. We are not a bank. We’rre not a paydday lendderr. We are a llow cost financiiall instiitutiion thhat you wiill want to be affiffi liatedd wiith ffor a lliffetime. We appreciate thhe opppop rtunity to serve you, and we vallue your membbershhipp. Iff you have experienced the VacationLand Federal Credit Union differencee, please encourage your family and friends to discover the benefi ts of membership.

2017 Annual Report 4 Governing Bodies of Your Credit Union

Board of Directors

The 2017 Board of Directors is comprised of seven Directors serve for a term of three years with volunteers, elected by you, the members, who terms expiring at the end of each annual are responsible for the governance, direction and meeting. The Director positions expire as follows: control of the aff airs of VacationLand Federal three Director Positions expire in one year and Credit Union in accordance with National Credit two Director Positions in each of the succeeding Union Administration rules and regulations and two years. sound business practices. Monthly meetings are held by the Board of The Board of Directors dedicates its time and Directors to conduct the business of the credit talent to make VacationLand Federal Credit union by reviewing its performance and policies. Union a premier credit union. It delegates the Once per year the Board of Directors also meets day-to-day activities through policies to Senior with Senior Management for a full day session to Management of the credit union. develop the three-year strategic plan.

Term Expiration (Committee Membership) Left to Right Martha Thompson: Director - 2018 Jude Hammond: Chairman - 2019 (Asset/Liability Management, By-Laws) Christine Giardina: Director - 2017 (Asset/Liability Management, Nominating) Joel Hassinger: Director - 2019 (Asset/Liability Management, Facilities) Tracy Luc: Treasurer - 2018 (Asset/Liability Management) Jan Sadoski: Vice Chairman - 2018 (Policy) Marcia Renande: Secretary - 2017 (By-Laws, Marketing, Nominating)

5 VacationLand Federal Credit Union Supervisory Committee

William Stauder Chairman

The Supervisory Committ ee consists of members appointed by the Board of Directors to serve one to three year terms. These volunteers are responsible for assuring the safety of the credit union’s assets and deposits, the soundness of management and compliance with various fi nancial and regulatory requirements. In fulfi lling these responsibilities, the Supervisory Committ ee recommends to the Board of Directors for ratifi cation the appointment of an independent audit fi rm to annually examine the fi nancial statements of the credit union. An audit of the 2016 fi nancial statements was conducted by Doeren Mayhew CPAs and Advisors. The audit report stated that VacationLand Federal Credit Union’s fi nancial statements present fairly, in all material aspects, our statements of fi nancial position, results of operations and cash fl ows. The audit report for 2017 will be available on March 21, 2018 and you may request a report from:

Mitchell J. Fallis, CPA, CGMA, MBA, CCUIP Chief Financial Offi cer 2911 Hayes Avenue Sandusky, Ohio 44870 419.609.2718

The National Credit Union Association also conducts an annual examination of the records, policies, practices and the application of NCUA regulations upon VacationLand Federal Credit Union. We are pleased to report that in 2017, VLFCU received a favorable report on our annual examination by the NCUA. Just like the Board of Directors, the Supervisory Committ ee also holds monthly meetings to, among other things, review internal audit services, internal controls and risk management processes, and examinations by regulatory agencies and the independent audit fi rm. A representative of the Supervisory Committ ee att ends the monthly 2017 Superviisory Commiittee membbers are: Williiam Board of Directors meetings and shares their fi ndings. To date, the Stauder, Theresa Barylski, Christopher Palmer, Lynn Sartor Supervisory Committ ee has reported that, in their opinion, VacationLand and Jacquelyn Streng. We are hopeful that 2018 will be Federal Credit Union has operated in a fi scally safe and sound manner another good year for VacationLand Federal Credit and, in all material aspects, in accordance with applicable accounting, Union as we all work together to serve you, our memberss. federal, state, and NCUA regulations.

2017 Annual Report 6 Message From The Chairman of the Board of Directors

Jude T. Hammond Chairman of the Board of Directors

VacationLand Federal Credit Union is continuing to grow. Our asset size the resources to continue to provide quality service to our members. has grown to $215 million. The credit union has total equity in excess The Board and staff have been exploring the opportunity to expand of $22 million. The Board continues to be challenged by how we can our fi eld of membership to neighboring counties. Currently, our fi eld convert our capital to quality member service. VacationLand is a not- of membership is defi ned as anyone who lives, works, or worships for-profi t collaborative whereby we work together to serve each other. in Erie County, members of the Huron County School employees and their families, and employees of the Ohio Edison facility located Service can be defi ned in many ways. Service can be seen in our off of Perkins Avenue and their families. If we are successful in branches when you are greeted by one of our staff members or how expanding our fi eld of membership to other surrounding counties, you are treated when applying for a loan with respect and support. we will need to know that the expansion of the membership serves Service can be viewed when you are using the online banking the best interest of our current members. application. Service can be realized by providing fi nancial products that meet the needs of our members. Service can be measured by The Board believes that this is a good strategy to expand our fi eld off ering competitive interest rates. Service can be hidden from sight of membership. By expanding our resources we can improve and and behind the scenes when our staff works diligently in making sure maintain service to our current members and our members to be. we are in compliance with the federal and state laws with the goal That is the Board’s belief. What do you think about expanding our of providing a safe and secure fi nancial institute that you can rely on footprint? We want to hear from you. Do you believe that expanding without fear. Service can be maximized when we have the resources our fi eld of membership is the right direction for you? You are a to meet your needs. valued member of our credit union and your input is valuable to our Board, staff and other members. In 2017, we expanded our credit union membership through the merger of the Sandusky Ohio Edison Employee Federal Credit In closing, we wish all our members the best for 2018! We are here Union. Our goal to expand membership and asset size is to att ain to serve you!

7 VacationLand Federal Credit Union Message From The CEO

Bryan P. Myers Chief Executive Offi cer

Since 1934 when the Federal Credit Union Act was enacted in the midst of the Great Depression, credit unions have been authorized to make much-needed credit available to people in fi nancial need. Since that time, helping people reach, maintain and succeed fi nancially has been the mission of the credit union industry. While needs, processes and compliance have vastly changed over the years, our reason for existing has not. We continue to be a not-for-profi t, member-owned and operated fi nancial cooperative that directs earnings back to the members we serve in the form of competitive rates, lower fees and more personalized service. In short, we return value to our membership instead of giving it to outside investors and stockholders. Since VacationLand’s inception, the one thing that remains constant is change, but our goals and mission remain strongly focused on the fi nancial success of our membership.

As CEO, I am pleased to report that the credit union remained fi nancially strong and healthy in 2017, embracing all the industry changes that faced us. Our year-end fi nancial statements show a very manageable 6.01% asset growth and a very healthy .80% ROA. Our capital ratio continues to get stronger ending 2017 at 10.56%, still well above the NCUA’s minimum “well-capitalized” fl oor. As in recent years, VLFCU remains at the upper end of our credit union peer group in all fi nancial categories and ratio classifi cations. Finally, our membership grew by 3.49% as we welcomed 635 new member-owners to the credit union experience.

One of our main goals year over year is to remain in the top tier of Ohio credit unions; but accomplishing this is no easy task. Long-term success hinges on our ability to grow the credit union while ensuring the fi nancial needs and the personalized service our members are accustomed to continue to be met. The Board of Directors, management team and staff spent last year concentrating on implementing the initial phases of a long-range-plan that has been in serious development over the last several years. I am proud to report in 2017 we made great strides towards three main objectives of this plan: fi eld of membership (FOM) expansion, additional non-interest income streams and updated technology for membership use. These three key areas will help maintain the growth and stability of the credit union now and in the future.

Finally, I want to formally welcome the members of the Sandusky Ohio Edison Employee Federal Credit Union to the VLFCU family. I personally want to thank each of you for choosing VacationLand as your merger partner. While change is never easy, I hope that our expanded products and services are everything you expected, and your member experience exceeds your expectations.

On behalf of our dedicated Board of Directors, volunteers, management and staff , thank you for making VLFCU your fi nancial partner. We pledge to remain dedicated to the credit union’s core values and provide you with outstanding fi nancial services to meet your specifi c needs. Thank you for your continued confi dence in us and your loyalty.

2017 Annual Report 8 Financial Highlights (*Unaudited) December 31, 2017 2016 2015 2014 2013 Assets Cash and Equivalents $ 5,835,484 $ 9,101,403 $ 9,653,004 $ 5,489,726 $ 3,816,239 Investments 56,137,363 57,592,517 48,062,711 48,012,878 51,742,073 Loans 146,429,833 129,820,630 119,736,934 109,310,640 97,027,553 (less) Allowance for Loan Loss (1,354,463) (1,170,428) (1,093,271) (1,029,382) (1,212,920) Land, Building and Equipment, net 5,577,607 5,957,890 6,084,740 5,590,614 1,145,479 Other Assets 2,573,771 1,697,424 1,518,500 1,898,344 3,201,360 Total Assets $ 215,199,595 $ 202,999,436 $ 183,962,618 $ 169,272,820 $ 155,719,784 Liabilities Other Liabilities $ 1,069,740 $ 2,512,169 $ 1,788,988 $ 1,546,239 $ 1,154,735 Notes Payable 21,384,043 17,770,367 15,299,243 15,807,477 9,601,758 Total Liabilities 22,453,783 20,282,536 17,088,231 17,353,716 10,756,493 Share Drafts 27,186,456 25,486,130 23,611,021 19,671,665 17,444,129 Shares 112,274,208 106,426,776 96,791,820 89,922,809 84,872,034 Certificates 28,411,579 28,682,992 26,075,914 24,621,183 26,523,421 Non-member Certificates 2,278,128 1,340,000 1,092,606 0 0 Total Shares 170,150,371 161,935,898 147,571,361 134,215,657 128,839,584 Owners Equity (Capital) Regular Reserves 2,928,513 2,870,959 2,870,959 2,870,959 2,870,959 Accum. Unrealized Gain/(Loss) - AFS (135,957) (153,424) 10,693 15,073 (37,820) Undivided Earnings 19,802,885 18,063,467 16,421,374 14,817,415 13,290,568 Total Equity 22,595,441 20,781,002 19,303,026 17,703,447 16,123,707 Total Liabilities & Owners Equity $ 215,199,595 $ 202,999,436 $ 183,962,618 $ 169,272,820 $ 155,719,784 Income Loan Interest $ 7,153,717 $ 6,626,475 $ 6,204,942 $ 5,735,483 $ 5,504,505 Investment Interest 1,651,407 1,460,049 1,226,712 1,210,797 1,054,875 Non-interest Income 3,207,838 3,183,913 3,166,518 2,944,045 2,925,703 Gain/(Loss) on Sale of Assets 2,303 55,781 0 0 0 Total Income 12,015,265 11,326,218 10,598,172 9,890,325 9,485,083 Expenses Staffing 4,373,026 4,165,893 4,042,169 3,989,375 3,597,057 Dividends 579,889 566,475 505,285 529,012 562,537 Interest Expense on Borrowings 427,075 346,420 265,160 195,251 95,840 Allowance for Loan Losses 700,000 565,000 360,000 267,000 479,000 Operating Expenses 4,266,529 4,040,338 3,821,598 3,382,841 3,127,616 NCUA Stabilization Expense 0000 103,968 Total Expenses 10,346,519 9,684,126 8,994,212 8,363,479 7,966,018 Net Income $ 1,668,746 $ 1,642,092 $ 1,603,960 $ 1,526,846 $ 1,519,066 Financial Ratios Return on Average Assets (ROAA) 0.80% 0.85% 0.91% 0.94% 1.00% Net Interest Margin 3.73% 3.71% 3.77% 3.83% 3.89% Operating Expenses to Average Assets 4.13% 4.24% 4.45% 4.54% 4.50% Efficiency Ratio 71.92% 72.81% 74.25% 74.58% 71.99% Loans to Shares 86.08% 80.17% 81.74% 81.44% 75.31% Allowance for Loan Loss to Total Loans 0.92% 0.90% 0.91% 0.94% 1.25% Net Charge-offs to Average Loans 0.37% 0.39% 0.27% 0.40% 0.32% Delinquent Loans to Total Loans 0.63% 0.61% 0.54% 0.74% 1.02% Capital to Assets 10.56% 10.31% 10.49% 10.45% 10.38% Distribution of Income Operating Expenses $ 8,639,555 $ 8,206,231 $ 7,863,767 $ 7,372,216 $ 6,828,641 Dividends 579,889 566,475 505,285 529,012 562,537 Capital 2,368,746 2,207,092 1,963,960 1,793,846 1,998,066 Number of Members 18,847 18,113 17,533 16,833 16,431 Number of Employees 72 71 65 64 61

* Copies of audited Financial Statements are available upon request Message From The CFO

Mitchell J. Fallis, CPA, CGMA, MBA, CCUIP Chief Financial Offi cer

VacationLand Federal Credit Union achieved another year of strong fi nancial growth in 2017 with total assets climbing to $215 million. Four key measures of fi nancial strength continued in 2017: Net Income, Loans, Deposits, and Capital. VacationLand Federal Credit Union merged with the Sandusky Ohio Edison Employees Federal Credit Union on September 29, 2017 adding $751,000 in assets. This merger did not have a signifi cant impact on the combined 2017 fi nancial statements.

2017 in Review In 2017, VLFCU received a favorable report by the National Credit Union Administration, our federal regulatory agency, substantiating our sound Net Income surpassed the $1.6 million mark for the third consecutive year fi nancial management. reaching $1,668,746 in 2017, compared to 2016 net Income of $1,642,092. Loan growth surged 12.8% in 2017 with slight decreases in loan quality resulting in 2018 A Look Ahead modest decrease in net charge-off s and a slight increase in delinquencies. The Federal Open Market Committ ee raised the federal funds rate by 25 basis Return on Average Asset (ROAA) is a key measure of a credit union’s fi nancial points at its December 2017 meeting, the fi ft h rate hike over the past two years. health. The 2017 ROAA continues to remain strong reaching .80%, 27 basis points We forecast a 2018 interest rate environment with two increases in the federal above our peer group ROAA of .53%. Net Interest Margin remained solid at funds rate of 25 basis points, one at mid-year and the second at year-end. We 3.73%, 59 basis points above our peers at 3.14%. expect the yield curve to fl att en with short-term rates rising 50 basis and longer- term rates rising 20 - 25 basis points. Revenues in 2017 increased by $689,047 and totaled $12,015,265, compared with $11,326,218 in 2016. Investment income increases lead the revenue growth at 13.1% We anticipate strong auto and home markets in 2018. VLFCU’s fi nancial mix of along with increases in loan income of 8.0%, and non-interest income of .8%. earning assets, member deposits, borrowed funds and capital coupled with our three-year fi nancial plan positions us for success in 2018 and beyond. Total Expenses increased by $662,393 in 2017 to $10,346,519, supported by increases in staffi ng costs of $207,133, dividends and interest of $94,069, We will minimize our long-term interest rate risk by funding fi xed long-term operating expenses of $226,191, and provision for loan losses of $135,000. mortgages and member business loans with fi xed long-term borrowings from the Federal Home Loan Bank of Cincinnati and member and non-member deposits. Total Assets rose by $12,200,159 or 6.0%, reaching $215,199,595 at December 31, 2017. Asset growth was funded by growth in retail deposits of $8,214,473, The 2018 fi nancial plan incorporates a solid marketing strategy coupled with FHLB Borrowings of $3,613,676 and equity of $1,796,972. education and training for our employees. We will continue to focus on building relationships with existing and new members to assist them in reaching their Total Loans at December 31, 2017 grew by $16,609,203 as VacationLand Federal fi nancial goals. Credit Union worked to satisfy member demand for mortgages, auto loans, home equity lines of credit, member business loans and credit card loans. We thank our employees, Board and Supervisory Committ ees for their dedication. We thank you, our members, for your continued support and look forward to a Investments decreased by $1,455,154 to $56,137,363 at year-end primarily prosperous 2018. to partially fund loan growth.

Investment Income for 2017 rose 13.1%, to $1,651,407, driven by an investment strategy of reinvesting maturing securities into higher yielding longer-term municipal and agency securities. Net Interest Margin/Average Assets Non-interest Income grew by $23,925 in 2017 to $3,207,838. 2013 3.89% Deposits rose by 5.1% ending the year at $170,150,371. 2014 3.83% The Credit Union’s Equity position climbed to $22,595,441 at December 2015 3.77% 31, 2017. The Capital to Asset Ratio, another key indicator of the fi nancial 2016 3.71% strength of a credit union, rose to 10.56% at December 31, 2017 while the year ago ratio was 10.31%. Both ratios are well above the 7.00% ratio 2017 3.73% required to be categorized as “Well Capitalized” under National Credit Union Administration regulations for prompt corrective action.

2017 Annual Report 10 Message From The Treasurer of the Board of Directors

On behalf of the Board of Directors, we wish to extend our thanks to the staff and management for meeting the fi nancial needs of our members with such great care and commitment.

Effi ciency Ratio Capital/Asset Ratio 2013 71.99% 10.35% 2014 74.58% 10.46% Average 2015 74.25% 10.49% 2016 72.81% 10.31% 2017 71.92% 10.56%

11 VacationLand Federal Credit Union 2017 Earnings and Membership Growth Tracy Luc Thanks to the loyalty of our long-term members and the infl ux of new members, I am pleased Treasurer of the Board of Directors to report another strong year for VacationLand Federal Credit Union. Net Income for 2017 surpassed the $1.6 million mark for the third consecutive year ending 2017 at $1,668,746. The 2017 Return on Average Assets remained strong at .80%, compared to .85% and .91% in 2016 and 2015, respectively. Year over year membership growth is 4.1% growing from 18,113 in 2016 to 18,847 at 2017 year- end, a direct result of the eff orts from management and staff to provide uncommon member service along with 115 new members from the merger of Sandusky Ohio Edison Employees Federal Credit Union. We have managed the Credit Union with integrity, protecting its safety and soundness, and thereby fostering the confi dence of our members and the communities.

Deposit Insurance up to $500,000 More and more individuals, families and small local businesses are discovering the benefi ts of a not-for-profi t fi nancial cooperative and are moving their money from banks to credit unions. This year, our deposits grew by 5.1% or $8.2 million to over $170.1 million compared with a 10.6% growth during 2016 of $15.5 million. Rising deposits indicate member confi dence In VacationLand Federal Credit Union providing funding for our members to secure loans to buy homes, cars and Member Business lending. All depository accounts are insured up to $500,000. The fi rst $250,000 of insurance is provided by NCUA’s National Credit Union Share Insurance Fund while the second $250,000 is made available through private insurance from Excess Share Insurance Company, paid for by VacationLand Federal Credit Union.

2018 and Beyond VacationLand Federal Credit Union makes decisions with our members’ long-term interests in mind. We will continue our history of giving back to our members in the form of bett er rates, low or no fees and more aff ordable fi nancial services. As in past years, we continue to do our best to deliver member-driven service as evidenced by continued capital investments in our information technology, ATM network, website and EMV Chip cards. Thank you for your confi dence and loyalty in our credit union.

Members Return on Average Assets

2013 16,431 1.00% 2014 16,833 0.94% 2015 17,533 0.91% 2016 18,113 0.85% 2017 18,847 0.80%

2017 Annual Report 12 Immeasurable Impact

Heather Gilchrist Marketing Director

Every year VLFCU strives to give back to the communities we serve and where the most impact will be felt. In 2017, we partnered with Sports Force Parks at the Cedar Point Sports Center to provide an adaptive baseball fi eld for children with mental, developmental, and physical disabilities. This stadium is used to host a variety of activities and camps where children learn the fundamentals of diff erent sports with assistance from their therapists and special education teachers. Cedar Point Sports Center was recognized as the #1 Ballpark with Accessible Fields by Sports Events Magazine in 2017.

Our philanthropic mission continued outside of the ballpark in 2017. We paid off a grant pledge to the Second Harvest Food Bank a year ahead of schedule, made contributions to the United Way of Erie County, The Foundation for Firelands, The Sandusky Salvation Army, the Erie County Senior Center, and many other non-profi t organizations. VLFCU also sponsored the fi nal Bras for a Cause fundraiser as part of the Girls’ Night Out fi nale event.

As part of our initiative to reach out to area schools, we held a calendar contest and invited local art students to participate. Submissions from Sandusky, Edison, Margarett a, Bellevue and Norwalk high schools were represented in our 2018 VLFCU wall calendar, and each of their art departments received a donation. Additionally, members of our management team volunteered for Junior Achievement and also provided fi nancial literacy presentations at several area high schools. Six graduating high school seniors received scholarships from VLFCU, and a seventh scholarship was awarded through Firelands Positive People.

As your credit union, VLFCU continued its support of several community-minded initiatives including the VLFCU Easter Egg Hunt, Stuff the Bus Erie County, BAS Coats for Caring, and the VLFCU Toy Drive. The success of these events relies on the strong partnerships that we have forged with other like-minded organizations including Erie County MetroParks, United Way of Erie County, the Volunteer Center of Erie County, the Sandusky Mall, the Sandusky Police Department, Mark Advertising, BAS Broadcasting, Stefano Dental, and the Department of Jobs and Family Services in both Erie and Huron counties.

It’ss hard to measure the difference we make in the community, but we will do our best to look for opportunities that will make the most impact on the mostt peoplle iin thhe area we serve. Through collabborattiion wiith our membbers, local businesses and non-pprofi t orgag nizations,, we are able to strenggthen our eff orts and embrace the fact that our reach is far greater than we can imaggine. With yoy ur continued supppop rt as a member, our team will remain dedicated to those in need as we look to the futuree.

13 VacationLand Federal Credit Union Independent Financial Advisor

David Karikas, of Preferred Planning Associates, off ers more than 28 years of (a) Non-deposit Investment Products: are not FDIC or NCUA insured, experience in non-deposit investment products (a), insurance and fi nancial are not obligations of or guaranteed by VacationLand Federal Credit advice. David’s services are available to VLFCU’s members. Union, involve investment risk and may lose value. David Karikas is a Registered Representative off ering securities through Cambridge David Karikas serves over 700 members with over $36 million in invested Investment Research, Inc., a broker/dealer, Member FINRA/SIPC. assets. Additional products include Life Insurance, Long-Term Care and Fixed Cambridge, VacationLand Federal Credit Union, and Preferred Annuities. David is located at our Perkins Offi ce, 2409 East Perkins Avenue, Planning Associates are not affi liated companies. Sandusky, Ohio or call 419 625.9025 Extension 1777.

2017 Annual Report 14 ATM Locations All fi ve of our branches are equipped with ATMs to provide 24-hour access to cash funds. Additionally, members can access their accounts at the following business locations:

Firelands Regional Medical Center International Automotive Components (IAC) 1111 Hayes Avenue 1608 Sawmill Parkway Sandusky, OH 44870 Huron, OH 44839 2nd Floor – Vending Machine Area Outside Plant Cafeteria

Firelands Hospital – South Campus Vermilion - Main Street Soda Grill 1912 Hayes Avenue 5502 Liberty Avenue Sandusky, OH 44870 Vermilion, OH 44089 Lower Level – Near Elevators Walk-Up ATM – East Side of Building

Sports Force Parks at Cedar Point Sports Center 3115 Cleveland Road W Sandusky, OH 44870

Connect with Us CU*Talk: 419.621.8328 or 877.256.3336 Website: www.vlfcu.org

Social Media: facebook.com/VacationLandFCU twitt er.com/VacationLandFCU youtube.com/VacationLandFCU instagram.com/VacationLandFCU linkedin.com/company/VacationLandFCU

Federally Insured by NCUA