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Annual report. to our members. This credit union is federally insured by the National Credit Union Administration

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Annual report

to our members

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OSU Federal’s

core values

Member focus

Education

Integrity

Social responsibility

Cooperative spirit

Passion

Dear OSU Federal Credit Union,

We would like to thank you for the paper shredder. Your gift will help students that need vocational training but aren’t able to travel. We can now use this shredder as part of the training program at our school. This will teach skills that will help later in life. Thank you so much for your donation!

– Dallas High School Developmental Learning Center Our values in action

The Dallas High School Developmental Learning Center sent this thank you card (and hand drawn art) to express their appreciation for a commercial shredder donated by OSU Federal.

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“As a not for

profi t fi nancial

cooperative,

we exist to help

people.”

Richard S. Hein President/CEO

On behalf of our 74,000-plus members, volunteer board of directors, supervisory committee, and employees, please accept this publication as the 2013 annual report of OSU Federal, Your Community Credit Union.

As the President/CEO, I am proud that OSU Federal remains well capitalized and positioned to do our part locally to assist others in this time of continued recovery. Sound fi nancial practices enabled us to manage through new governmental regulation and an unsure economy to produce a solid year in 2012.

Regularly, we hear rewarding stories of how we have been able to help a member’s dream come true. Whether it’s creating solutions for members going through significant life changes, providing opportunities for small businesses that would not exist otherwise, or playing a major role in Oregon’s financial literacy.

The credit union model of lower fees and competitive loan rates served the state of Oregon well evidenced by more than $121 million in direct member benefi ts in 2012 alone. The average Oregon credit union member saved almost $100 in fees and the average household saved more than $170 overall. OSU Federal’s

Dear OSU Federal

member-owner:

focus on the credit union mission contributed substantially to those statewide benefi ts.

As a not for profi t fi nancial cooperative, we exist to help people. It is an honor and a privilege to serve you and provide for your fi nancial needs.

Thank you for your continued trust, loyalty, and support of OSU Federal.

Respectfully submitted,

Richard S. Hein President/CEO

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OSU Federal continued to grow at its trademark steady pace in 2012. OSU Federal’s shares (or deposits) increased 7.55% to $688.3 million. Total assets fi nished the year at $785.4 million, an increase of 7.48%, ranking us the seventh largest credit union in Oregon. Net worth grew to 10.69% of total assets. For the year, membership fi nished at 73,646, up 6.61% from 2011.

Growth in real estate

Despite continuing to adhere to additional governmental regulation, it was another solid year in real estate lending as we remain among the top 10 lenders in our fi ve-county fi eld of membership. The 10-year no fee mortgage loan program introduced in 2012 yielded solid results.

Business services memberships increased 10%

OSU Federal is now serving over 3,300 local businesses and associations. A new referral arrangement was established with Oregon Coast Community College. With this Lincoln County addition, all fi ve counties we serve now have micro-enterprise referral programs.

New online account access system launched

The landmark transition to a more robust online account access platform was successfully completed in February 2012. Members

can now access their accounts by computer, mobile device and iPhone and Android apps. Enhanced bill pay, ebill presentment, TurboTax and FinanceWorks, a personal fi nancial management tool, are now available within online account access.

Granted Low Income Credit Union (LICU) designation

Since our charter year of 1954, OSU Federal has adhered closely and prudently to the original mission of serving those of small means. For these 59 years of service, validation came from the National Credit Union Administration (NCUA) that we qualify as a Low-Income Credit Union (LICU), based on 2010 Census data as more than 57 percent of the OSU Federal membership live in an area that have incomes 80% or less than the corresponding median family income.

Loan payment protection option includes involuntary unemployment coverage

A new suite of payment protection products was completed in May. A new debt cancelation product suite, called Payment Protection, not only includes death and disability protection, but also offers borrowers an option to cover events of

involuntary unemployment. This increases member value and peace of mind.

Jason Wallis

Owner, Fitness Over 50, member since 1992

Year in review:

Steady growth

Nicole Stueve

Philomath High School business instructor, 2012 education grant recipient

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‘08 ‘09 ‘10 ‘11 ‘12 $0 $200 $400 $600 $800 In Millions

Total Deposits

‘08 ‘09 ‘10 ‘11 ‘12 $0 $200 $400 $600 $800 In Millions

Total Assets

$20 $40 $60 $80 In Millions

Total Capital

$100 $200 $300 $400 In Millions

Total Loans

‘08 ‘09 ‘10 ‘11 ‘12 0 20,000 40,000 60,000 80,000

Membership

Total 2012 2011

Statement of income and expense

Total operating income $36,785,170 $37,515,372 Total operating expense 23,839,150 23,356,822

Dividend expense 2,073,230 3,160,651

Non operating income (expense) (119,770) (925,035)

Net income $10,753,020 $8,072,864 Statement of fi nancial condition

Assets

Total loans $426,260,979 $422,309,497

Investments 310,497,716 258,581,767

Other assets 48,669,000 49,863,171

Total $785,427,695 $730,754,435 Liabilities and member equity

Total liabilities $10,428,638 $15,271,670

Total notes payable 0 0

Total shares 688,342,948 640,030,893

Total equity 86,656,109 75,451,872

Total $785,427,695 $730,754,435

Supervisory Committee report

In 2012, the auditing fi rm of Orth, Chakler, Murnane and Company, Certifi ed Public Accountants was retained by the Supervisory Committee to perform the annual audit of OSU Federal Credit Union. It is the Committee’s judgment that the Credit Union is being operated effi ciently and the members’ interests are being protected.

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OSU Federal remains solidly invested in our communities with a team mission that is generous with both time and dollars. Here are some of the highlights ... by the numbers, of course!

2012 by the numbers:

Community

Contributed over

$130,000

to more than

126

local schools and

non-profi t organizations.

126

OSU Federal volunteered over

9,650

hours towards more than

225

organizations to establish

a new standard for community volunteerism.

13%

of those hours were performed as an investment of credit union time, while the remaining

87%

of the hours were dedicated by staff on their own time.

87%

We think education is the foundation for a healthy and vibrant community. To help everyone better manage their fi nances, OSU Federal off ers many free online fi nancial education tools:

Investment Learning Center provides calculators, articles and a comprehensive glossary of fi nancial terms

Home and Family Finance provides timely articles, videos and podcasts about a variety of topics

Mymoney.gov teaches you the basics about fi nances

Brass Magazine focuses on fi nances for high school and college age consumers

Debt in Focus off ers an evaluation of your current fi nancial position

Pocket Cents gives fi nancial tools and resources for diff erent age groups

We taught a record 13,689 individuals in

529 fi nancial workshops in 2012.

13,689

529

$15,000

Amount awarded to

local high school seniors for

college scholarships.

Donated $12,500 that

funded

44

local school

projects benefi ting

6,576

students throughout our

fi ve county region.

$20,000

Amount awarded in

scholarships to local

college students.

2012 by the numbers:

Education

$25,000

Raised for the Children’s Miracle

Network and donated to

Doernbecher & Sacred Heart

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99 percent of internal reports

are shared electronically, saving

paper and printing costs.

99%

2012 by the numbers

Workplace:

Sending estatements to our members eliminated more than 590,000 double-sided pages of paper along with all of the additional mailing costs. Yes, we know “E” is not a number,

but we sure like the way it adds up!

72%

Women represent 72 percent

of our managerial staff .

3,362

As a Pacifi c Power Blue Sky partner, OSU Federal used

only renewable energy generated by wind and bio-fuel

to eliminate the release of 497,418 lbs. of carbon

dioxide (equal to NOT driving a car 504,049

CO

2

E

Two

=

10,000

Two community shred events helped

recycle over 10,000 lbs of paper

documents, conserving 76 trees, 35,000

gallons of water and 20,959 kilowatt

hours of energy.

2012 by the numbers:

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Credit Unions – a defi nite

diff erence

What makes a credit union diff erent? The following principles distinguish a credit union from all other fi nancial institutions.

Not for profi t

Credit unions are not for profi t fi nancial cooperatives, owned and operated for the benefi t of our members. We do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to our members in the form of additional locations, more services, lower or no fees, and competitive interest rates.

Taxation

Credit unions pay taxes – payroll, sales taxes and property taxes. Congress exempts credit unions from federal income taxes. The exemption was established in 1937, affi rmed by statute in 1951, and re-affi rmed in 1998.

Ownership

Credit unions are economic democracies owned by members. Each member has equal ownership and one vote, regardless of how much money a member has on deposit.

Volunteer boards

Each credit union is governed by a board of directors, elected by and from the credit union’s membership. Board members serve voluntarily.

Membership eligibility

By current statute, credit unions cannot serve the general public. Individuals and businesses/organizations qualify for a credit union membership through their employer, organizational affi liations like religious groups, or community.

Financial education for members

Credit unions assist members to become better educated consumers of fi nancial services.

Social purpose: people helping people

Credit unions exist to serve their members fi nancial needs, not provide a profi t to third party investors. They know their credit union will be there for them in bad times, as well as good. The same people-fi rst philosophy causes credit unions and our employees to get involved in community charitable activities and worthwhile causes.

Jolynn Meza-Wynkoop

2012 TLT scholarship recipient, member since 1997

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To fi nd out more, call 800-732-0173

or visit any of our branches.

osufederal.com

consumer r ec ycled fi ber . Please r ec ycle .

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