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Add Image Holy Rosary Credit Union is a state chartered and federally insured community credit union. We have been serving the people of New Hampshire since 1962.

Holy Rosary Credit Union was founded by a small group of parishioners of Holy Rosary Church in Rochester, New Hampshire. This group was formed to provide assistance and advice to people who otherwise would not have easy access by traditional means. Over the years we have grown into a full-service community credit union. We take pride in having added the most convenient and up-to-date services without losing the compassion and personalized service that is responsible for our growth and the loyalty of our membership. We know that we have made a difference in people's lives.


	Brian Hughes HRCU President & CEO

A message from HRCU's President & CEO, Brian Hughes

2013 will be the year that most economists say the financial recovery finally started to take hold. Investors displayed a renewed confidence with the stock market showing a strong comeback and retirement funds beginning to rebound. Housing prices and home sale demands have started to come back in many parts of the country; and with all of these changes that have taken place and with the good news in the economy, we know many members have seen their own personal comebacks. However, many still struggle and are working to recover from the financial storm a few years ago. HRCU remains committed to helping those members the best way we can–it starts with hard work and a staff committed to helping them on a daily basis. I am proud to say that we have that kind of staff.

Credit unions continue to do very well as the economic recovery moves along. Nationwide, credit unions topped $1 trillion in total assets. 96 million members now belong to credit unions. Many members benefitted from a record number of 25 million loan originations in 2013, representing $345 million loaned to credit union members. Why are these numbers important to note? Because the demand for credit union membership is clearly there. Each year, more and more people worldwide join a credit union. Every year we see loan demand increase in particular for consumer and small business loans, which are the bread and butter of credit union lending; and with all the talk about free checking these days, that is nothing new for credit unions or HRCU.

Overall, HRCU ended the year at $193 million in total assets, $135 million in total loans, and membership was well in excess of 18,000. Growth was very strong and exceeded nationwide peer averages. HRCU continues to find an important niche in helping existing and new members. This past year, 2,000 new members joined HRCU. Speaking of niches, our student loan portfolio now stands at over $11 million. HRCU stepped up six years ago to help bring an affordable and much needed loan solution to college students when other financial institutions were shying away from them and the federal government was making it more difficult to obtain loans. We have also invested more resources into our youth accounts, M3 Money Club and Elements of Money, with over 3,000 local youths participating in the programs. HRCU staff visits over 10 schools in our area each week and along with our commitment to our Spaulding High School branch and hosting our annual CU 4 Reality Education Fair, we remain passionate and proud of the work we do to bring financial literacy to our youth.

In 2013, we converted to a new and improved data processing system, allowing us to deliver the most up-to-date products and services to our members. Shared Branching was unveiled to our membership, along with completely new mobile services and a new and improved online banking platform. We are not finished, as more products and services will continue to be rolled out in 2014.

We made a significant improvement in member services, opening our Member Support Call Center, while also revamping many operational functions. All of this has allowed us to plan for future growth by working on our long range branching goals. At the end of 2013, we undertook a project to bring in focus groups and conduct membership surveys. The response was overwhelming and it is clear that our membership looks to us to be their financial partner, as they are overall very happy with the service we provide. Although the pat on the back was nice, we were more interested in the many great ideas that were brought up to better serve you, both now and in the future. With a solid infrastructure now in place, we are excited to put many of the ideas into action.

Finally, I would like to thank our membership for sharing in the many successes of the credit union over the years and I am excited to share a bright future with you beginning in 2014.

Brian Hughes
President & CEO