As member-owners of Hiway Federal Credit Union, you will be pleased to know that 2016 was an outstanding year for your credit union. From our 1931 roots at the Minnesota Highway Department, we have grown to serve over 66,000 members, and after surpassing the “Billion Dollar” mark in late 2015, we finished 2016 with $1.07 Billion in assets.
We had an exceptional year with $274 million in loan production (up from $218 million the year before), and record debit and credit card transactions of $371 million (up from $ 355 million). In addition to our strong growth, we had a good income year as well, with a return on assets of 0.66%.
These strong earnings allowed Hiway to maintain competitive and market-leading loan and savings rates and invest in people, technology and new products and services, all while also strengthening our reserves. We ended the year with a very healthy capital ratio of 10.81%—a level sufficient to protect us from short-term market risks and position ourselves to be here to serve our members for many more years to come.
Hear about Hiway from real members.
