CommonWealth One members gathered on May 12 for annual meeting

ALEXANDRIA, VA (May 14, 2015) — On Tue., May 12, CommonWealth One members, staff, and officials gathered for its 70th Annual Meeting at the credit union’s Main Branch, 4875 Eisenhower Ave., Alexandria, Virginia.

The meeting featured brief reports from credit union officials and staff, and provided first-hand knowledge of the state of the credit union for 2014 and beyond. “Members heard how CommonWealth One performed this past year and what the plans are for the future,” said Rupert J. Jennings, III, Chairman of the Board.

Presentations included a report on net income, which doubled over 2013, and return on assets (ROA) ratio, which also more than doubled over 2013. There were reports on efforts to reduce costs and lower operating expenses, and on the increase in loan/share ratio over 2013.

Reports on community-related events included the $700,000 Community Challenge, and CommonWealth One’s support of Volunteer Alexandria and Skyline Literacy. Of special interest to attendees were the Loan Loyalty Rewards program, the Rate Match Program, and a new online loan application. Attendees also heard about new scholarships: in addition to two $1,000 Kathryn R. Coleman scholarships, three $1,000 scholarships are now available to high school students at Academy of Finance, T.C. Williams High School, and Harrisonburg High School.

About CommonWealth One Federal Credit Union

Since 1944, CommonWealth One Federal Credit Union, headquartered in Alexandria, VA, has grown to become one of Washington, D.C. and Northern Virginia’s top credit unions with more than $324 million in assets serving more than 29,000 members. CommonWealth One is a full-service, member-owned, not-for- profit financial cooperative committed to being its members lifetime financial partner. CommonWealth One has branches in Washington, D.C., Alexandria, VA, and Harrisonburg, VA (including at James Madison University). Members can access their accounts through Online Banking, Mobile and Text Banking, plus a network of over 55,000 ATMs and 6,900 shared branches.

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