Initiatives

Initiatives

Over the next three years, the Credit Union has many strategic projects that will be our focus. Some that continue to be of importance are Risk Management, Continuous Capital Management, Social Responsibility, and Investment in our cast.

Risk Management

Managing risk is a critical component to running a successful financial institution. Partners employs a three lines of defense methodology in order to manage its risk. Under this model, responsibilities for the safe and sound operation of the Credit Union are divided amongst the following:
Three Lines of Defense

Continuous Capital Management

Management’s first responsibility is to maintain a financially sound economic engine. The Credit Union actively manages operating expenses by remaining efficient, and it generates revenue by providing valuable products and services that encourage Member participation. The net income from this equation is considered retained earnings, the collected balance of which we call Net Worth, or Capital. This is reported as the Net Worth Ratio.

Assets - Liabilities - Net worth

The NCUA defines a well-capitalized institution as one with a net worth ratio of at least 7%. Management regularly completes tests to understand what happens to its net worth ratio under certain environments, such as rapid growth in loans or shares, rapid changes in the interest rate environment, an unexpected change to its Sponsor relationship, COVID-19, etc. Therefore, the Board of Directors has determined a minimum Net Worth Ratio of 10%, which it believes sufficiently protects the Credit Union from negative environmental factors and allows for continued growth in size. Revenue generated and capital above 10% of assets can be effectively returned to the Members in the form of better rates and new or expanded services.

Social Responsibility

Management’s first responsibility is to maintain a financially sound economic engine. The Credit Union actively manages operating expenses by remaining efficient, and it generates revenue by providing valuable products and services that encourage Member participation. The net income from this equation is considered retained earnings, the collected balance of which we call Net Worth, or Capital. This is reported as the Net Worth Ratio.

We have a responsibility to contribute to a thriving ecosystem that builds a better society. Below are some examples:

At a Micro-Level

• By refinancing a high interest rate vehicle loan to a Member who lives paycheck to paycheck
• To educating young Members on how managing their credit score will result in a lifetime of savings
• To helping a family finance education or a new home
• To providing insured, high-yield investments to retired Members
• And much more

At a Macro-Level

• By partnering with Disney to improve the ability of all cast members’ access to affordable housing
• To improving the health of the Credit Union industry by sharing best practices and cooperative principles
• To generating activity for businesses within our market areas
• And much more

Investing in Our Cast

Through its close relationship with Disney, Partners delivers high-quality, cost-effective benefits to cast members, including health care, educational reimbursement, and discounts plus generous compensation and bonus programs.

As we aim to be the best place to work, we also make the following investments in the cast experience:

Leadership Development for All

• The Leadership Academy is available to all Cast Members and teaches skills for personal and professional growth, including personal responsibility, effective communication, feedback, and conflict management.

• Coaching is offered to Leaders in our organization, nurturing their desire for continuous improvement. These one-on-one sessions leverage feedback, relevant data, and culture survey results to drive individual development.

• The Leadership Development Advisory Committee is comprised of Cast Members who act as the eyes and ears for leaders at all levels, including management, a sounding board and executor for new ideas.

Ongoing Organizational and Team Development

Throughout the year, Partners Cast Members have the opportunity to come together and learn from each other through Town Halls, Team Building Day, our Cross-FUNctional Ambassador Program, and Cast Appreciation activities. These interactive experiences deepen our commitment and understanding of our aligned vision, mission and strategy at all levels within the organization and across our market areas enabling us to continue serving our Members in meaningful ways, today and tomorrow.