From Your CEO — Winter 2025

Happy New Year, SESLOC family! We are thrilled to kick off 2025 with so much in store for our member-owners. Let’s begin by recapping the highlights that made the end of 2024 truly unforgettable.

Credit unions have consistently been a more affordable alternative to traditional banks, and at SESLOC, we are committed to giving back to you through exclusive benefits and special savings. This past fall, we launched a range of savings opportunities designed to help monthly budgets go further and reward you banking with us. First, we reduced and eliminated select overdraft fees to help those facing financial challenges to build savings. Second, we began offering more dividends on larger balances for select share certificates. Third, we have created a reverse-tier approach to Primary Share Savings, which means all personal memberships get a major boost in dividend earnings on the first tier of savings (up to $1,000). To top it off, we made it easier to earn a Savings Point as part of our Level Up Member Benefits program.

We will continue to listen to your feedback and customize our offerings to provide more value. A few areas that we will be focusing on in 2025 are our deposit account opening processes, our loan origination processes and our product rates.

SESLOC has also been making digital enhancements to make self-service easier and more accessible. Soon, members will be able to set up or switch their direct deposit from another institution in just a few clicks with our Direct Deposit Switch tool in Online Banking—eliminating the need to fill out tedious forms directly with your employer or other payers such as the Social Security Administration. Additionally, after extensive review and due diligence, we have decided to contract with a top, national mortgage sub-servicer to assist us in the servicing of mortgage loans. This contract provides more comprehensive tools, information and loan servicing compliance oversight with our residential mortgage loans, and a new interface for Online Banking that’s simpler and easier to use. Thank you, member-borrowers, for your patience and trust in us during this transition.

We are also thrilled to share that SESLOC has been honored with two prestigious awards that underscore our unwavering dedication to providing exceptional financial services. The “5-Star” rating was bestowed by Bauer Financial, Inc., which recognizes our strong performance across key factors that include capital, profitability, regulatory compliance and asset quality. Furthermore, SESLOC was named in the Pacific Coast Business Times list of “Fastest Growing Companies,” based on a comprehensive evaluation of financial performance over a 3-year period. We extend our heartfelt gratitude to our members and community for your continuous support.

Speaking of your continued loyalty and trust in SESLOC—we are very excited to provide “extra” value with special offers like last November’s Palo Mesa Pizza special for a free dessert and the chance to win tickets to SESLOC’s Festival of Lights VIP Center at the annual Santa Maria Parade of Lights. Stay tuned for more sweet deals and exclusive member-only events, both for your enjoyment and in support of our local businesses and Central Coast community. Cheers to the new year, new beginnings and wonderful moments as we embark on another fantastic year together, filled with exciting opportunities ahead!