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With the help of our members, employees, and volunteers, 2016 was a banner year for Desert Schools Federal Credit Union. We saw a 1.6% ROA (up from 1.07% last year), increased consumer and business deposits to more than $3.4 billion combined, and ended the year with a net worth ratio of 11.93%.
Focusing on service is the cornerstone of our culture, and 2015 was truly a year that highlighted our service commitment on multiple levels not only for our members, but also for our community. This year, we implemented a new banking system to improve member service; introduced Relationship Rewards to provide more value to our members, and gave back to our community on a record level.
We commemorated a major milestone in 2014: 75 years of providing exceptional financial solutions to our members and our community. And we did it together, with our members, employees and management team. What began in 1939 among a small group of teachers pooling their resources together into $100 in net assets has become the largest locally based financial institution in Arizona, and a leading member of the incredible community we serve.
Since 1939, Desert Schools has served over 2 million members, we’ve financed over 100,000 homes, opened savings accounts for brand new babies, and helped future retirees build their nest eggs. Just as we are a financial partner to our members, we are also a community partner to the Valley. And because we only serve the Valley, our connection to the community is vital. When the Valley thrives, Desert Schools thrives. And because this community has been such a good home to us, helping this organization to grow from less than $100 in 1939 to over $3 billion today, being a true community partner is a commitment our entire organization takes to heart.
In life, we build special relationships over time by sharing with one another the important milestones that mark our lives. It's the same at Desert Schools. Our guiding belief of "people helping people" has enabled us to build a strong and lasting foundation, based on reciprocal trust and mutual cooperation with you. As Henry Ford once said, "If everyone is moving forward together, then success takes care of itself." This inspirational statement exemplifies the past year for the Credit Union. Because of loyal members like you, our dedicated employees, and our volunteers, we were able to reach new heights together.
At Desert Schools, 2011 began with optimism that we would overcome the economic obstacles faced in previous years and the determination to return to profitability. Thanks to the perseverance, hard work, and focus of our entire organization, Desert Schools was able to emerge as a strong, stable, and most importantly profitable organization. We're very proud to present our 2011 Annual Report, which highlights the successes and best practices from this amazing year.