Learn About HRCU
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.
A message from HRCU's President & CEO, Brian Hughes
2014 was a great year for credit unions nationally. Together, Credit Unions throughout the country passed the 100 million member mark! What an amazing accomplishment for our movement in the United States, which started right here in New Hampshire in 1908. That alone speaks to the power of who we are: member-owned, not-for-profit financial service cooperatives that help our friends and neighbors while giving back to the local communities we serve.
Among financial service institutions, the fiscally-responsible credit union model continues to do well. Considering our economy’s positive, yet slow-growth reality, the fact that credit unions grew their savings balances in 2014 by 4% nationwide illustrates that our members understand the importance of fiscal responsibility too. Loan growth came in at 10.6%, the fastest since 2005. As jobs grew, so did our members’ credit quality. We saw an increase in the return on assets in 2014, and expect these stronger earnings to lead to more capital growth in credit unions nationwide.
Here at HRCU, we had a strong 2014. We ended the year with $206 million in assets, a growth of 6.7% over 2013. We grew our loan portfolio by an astonishing 12.3%, finishing the year at $152 million. Our average dollar amount of shares per member beats the national average, and our asset and loan growth both eclipse the national average by several percentage points each. Last, but not least, our membership grew too – our family is now 19,263 strong!
Not only are we proud of our financial performance, we are also proud of our staff. The volunteerism of their personal time has had significant impacts on several local organizations. Did you know they sit on many boards throughout Strafford County, and one of them was even honored as Rochester Main Street’s Volunteer of the Year? Their dedication in giving back to the community, year after year, continues to amaze me, and probably you too.
HRCU launched a coordinated campaign of holiday giving in 2014, called the Christmas Caring Campaign. Spread out over three weeks of visits to local non-profits by both HRCU staff and volunteers, we donated a total of $20,000 in goods and funds to fifteen local non-profits. Our work helped bring each organization’s story to others in the community, inspiring them to also give to these organizations. Later in this report, you will see the many happy faces of both volunteers and recipients.
The HRCU team worked hard to develop some great financial products to really help our members in 2014. We started off the year with our Resolution CD, had a great President’s Day auto promotion, and then came up with something truly unique: The 10-Year Plan Mortgage. We hit a home run with this one, and helped our members put nearly 3 million dollars of mortgages on a low interest, fixed rate path to being paid off in just 10 years. Many of you are clearly turning the dream of a mortgage-free retirement into a reality!
Fall brought us to our annual Strategic Planning, and we took a good look at what our core values are plus what our mission and vision should be to continue our growth. 2015 will be an exciting year as we work to bring our mission to every aspect of HRCU:
“HRCU is a responsible, community-focused organization members can trust to help them achieve their financial goals by demonstrating compassion, embracing innovation, remaining flexible and delivering exceptional service.”
Our humble Rochester beginnings are never far from our minds as we always look to do what is best for our members. Our unique model of service guided by our founding principles helps our credit union deliver fiscally strong performance year after year and is firmly entrenched in this mission statement.
2015 brings us some physical changes too – we will be remodeling our Brock Street lobby to give you the best in relationship banking! With a watchful eye on our traditions, we are working to bring you a higher level of personalized, one-on-one service in a comfortable environment. Our familiar faces and financial services will be available to you later this year in an environment that is more like stopping in to chat with a friend than going to a bank. We take great pride in the fact that all our staffers are very excited because the changes will enable us to deliver best-in-class service to our members. The Brock Street branch and all its services will remain open through the entire process, just in a different area of the building. Keep an eye out for updates on our progress and pictures of the design!
I personally would like to thank all our members for your support, and for sharing in the successes of a great 2014. We all worked together and grew HRCU, introducing more of our friends and neighbors to what better, not bigger banking is all about!
President & CEO
President & CEO
Vice President of
Board of Directors
Dana Flanders – Chairman
Ronald Vachon – Vice Chairman
Paul Auger - Treasurer
Nancy Gilbert - Secretary
Don Doyon – Chairman
Council of Trustees
To contact any member of our management team, please call (603) 332-6840 or e-mail us at: info at hrcu dot org