Explore the digital version of the Opportunities Credit Union 2015 Annual Report!

1. 2 0 1 5 A n n u a l R e p o r t

2. “ENTHUSIASM MOVES
THE WORLD.”
-ARTHUR BALFOUR

3. It doesn’t seem possible that
yet another year has gone
by! We continue to expand
our partnerships throughout
Vermont and across the
country, leveraging our
combined skills, funding, and
energy to address financial
gaps in our market. Several
new areas of need are
reflected in this annual report
along with solutions that show
how we are addressing these
challenges.
Thisyear’sannualreportreflectsthediversityofourmembersand
their unique needs. Our members come from all backgrounds,
income levels, cultures, countries, and walks of life. What they
all share is the desire to have a safe place to keep and grow
their money while building for the future. Keeping our community
strong and caring about all of our neighbors is reflected in the
personal service our staff give each and every member.
Investments were made in our products, IT systems, facilities,
staff, and electronic banking services to support our membership.
We’ve added lending staff to allow us to get out and meet with
more of our members and partners. We actively visited areas in
Vermont with the highest levels of poverty and unemployment,
conducting focus groups, listening sessions, and meeting people
in communities that are losing access to affordable financial
services. We heard many stories that highlight the needs of
these members, and we are now working on partnerships and
funding to begin closing some of these gaps.
Our staff completed training on new products, compliance, and
professional and technical development courses in their fields
of expertise. Over 8,000 people have actively participated
in financial education and counseling services to improve
credit scores, budgeting, learn about homeownership, save,
and pay off debt. We participated in a number of research
projects providing data and human stories that put a face to our
members’ challenges and bringing resources together to solve
these problems.
We had another strong year financially, which will allow us
to continue to serve our members in the future. We are well
capitalized and in a position to grow. Our members had a
99.6% repayment rate! We could not have achieved these
results without our board of directors, senior management
team, and staff all of whom dedicate themselves to our mission,
members, and the community. Without each of their individual
contributions, we would not be where we are today. Thank you
to all of our members!
Wishing you a healthy and successful 2016!
From the President/CEO
Cheryl Fatnassi
President & CEO

4. The board of directors oversees the strategic direction and financial per-
formance of the credit union, ensuring that our members and mission
are ever present in our focus. We are fortunate to have a strong board of
directors and committee members who volunteer their time and talents,
bringing expertise to allow management and staff to further their reach
and impact. We see great progress with some segments of our mem-
bership and also study areas where we feel we can reach more people
and play a greater role in their financial stability. Our success has re-
sulted from strong partnerships both locally and nationally, leveraging
our combined skills and resources and our commitment to improving the
lives of everyone in our community.
A special ”Thank you!” to our social investors who provide much needed
capital and low-cost CDs, allowing us to provide affordable loans and
services to Vermonters!
With best regards,
Ellen Shapiro
Chairman of the Board
Board of Directors
ELLEN SHAPIRO
ELLEN KANE
AGNES COOK
JACOUB BOGRE
GLENN VON BERNEWITZ
CHARLIE BAKER
PAUL GOLDMAN
LARRY LEWACK
SHANNA RATNER
CHERYL FATNASSI
STEVE BOURGEOIS
MARIE DUSSAULT
GARTH ALLEN
JOHN DAVIS
LYNNE SILVA
PAUL BIRNHOLZ
STEVE BOURGEOIS
CHERYL FATNASSI
TIM MASHRICK
DEBBIE SHEPARD
MICHAEL RICHMAN
ROGER BUCHANAN
LINDA DUSABLON
AMBER FULCHER
Board Chair
1st V.C.
2nd V.C. / Treasurer
Secretary
Member
Member
Member
Member
Member
Chair
Member
Member
Chair
Member
Member
Internal Auditor
Chair
Member
Member
Member
Chair
Member
Member
Member
Credit Committee
Supervisory Committee
Asset and Liability
Management Committee
Independence Fund Committee
FROM THE BOARD CHAIR

5. James Emerson
Senior Information
Technology Manager
Lejla Taji
Senior Lending Manager
Dijana Kulasic
Senior Retail
Market Manager
Greg Huysman
Senior Business
Development Manager
Stephine Struble
C.O.O.
Cheryl Fatnassi
President & C.E.O.
Erin Metivier
Senior Finance & Human
Resource Manager
SENIOR MANAGEMENT

6. IMPACT HIGHLIGHTS
494
ENERGY
LOANS
TOTALING
$6.9 MILLION
973
FIRST-TIME
HOME BUYERS
TOTALING
$104.3 MILLION
17,329MEMBERS TOOK OUT
CONSUMER &
CAR LOANS
TOTALING
$94.9 MILLION
5.4 MILLION
TELLER TRANSACTIONS
TOTALING
$2.7 BILLION

7. 26-YEAR LENDING IMPACT
We had another strong lending year as our members move along the “Asset Path,” investing in new or expanding businesses, buying
their first home, adding energy-efficient furnaces, insulation, and solar panels or purchasing a newer vehicle. We also provided
affordable loan options for members with emergency needs or rebuilding their credit. New in 2015 were products that allow immigrants
and refugees to obtain their citizenship and reunify their families.
Through a partnership with the Vermont Public Service Department we are able to offer HEAT loans at rates as low as 0%, allowing
members to lower their energy costs and take advantage of energy rebates and very affordable loan-terms.
Our partnership with Efficiency Vermont and PACE-approved cities and towns allows us to offer longer term solutions for Property
Assessed Clean Energy loans that offer immediate savings on the member’s energy bills with several options for financing tied to
your property.
Auto and Other Consumer Loans
Affordable Home Mortgage Loans
Home and Energy Improvement Loans
Small and Micro Business Loans
17,329
2,486
1,377
964
$94,970,128
$251,010,175
$11,129,016
$23,758,895
TOTAL NUMBER OF LOANS
TOTAL DOLLAR VALUE OF LOANS
22,156
$380,868,214
*Key
LOANS DOLLAR VALUE

8. “BELIEVE YOU CAN
AND YOU’RE HALFWAY
THERE.”
-THEODORE ROOSEVELT

9. 26-YEAR DEPOSIT IMPACT
Members to Date Savings & Other Deposits Checking Accounts Teller Transactions
Total Teller Transactions:
$2.7 Billion
26,682 50,551 3,992 5.4 Million
Access to affordable savings, checking, and other deposit services is not always available in every market. We offer competitive
products providing Vermonters a safe place to keep their money, opportunities to save for longer-term goals, electronic banking
services so that members can stay on top of their finances at times that are convenient to them, and in-person branch access
for members who prefer a more personal level of service.
In 2015 we exceeded 500,000 transactions totaling over $200 million (82% were done by members using one of our electronic
services). Today, we offer remote check capture, electronic statements for loans and deposit accounts, e-mortgage banking,
electronic bill payment, debit cards (with alerts and allowing members to activate/deactivate their card for security purposes),
and “Mobicent,” a new service that provides account aggregation, budgeting, and financial management tools.
To learn more about our deposit products, please go to:
www.oppsvt.org/what-we-offer
To learn more about our electronic services, please go to:
www.oppsvt.org/ebanking

10. Vermont Comedy Club
Natalie Miller & Nathan Hartswick
Owners of Vermont Comedy Club
“Greg was awesome,” said Natalie Miller. “Our business plan
is more than just ticket sales and food and beverage revenue
streams, and he really grasped the whole concept and was
excited about what we were bringing to Burlington.”
Butch + Babe’s
Kortnee Bush
Owner Butch + Babe’s
“At Butch + Babe’s, you’re able to try something from a different culture but in a safe
atmosphere where you can still get a burger,” said Kortnee. “It’s not a newfangled idea;
it’s just representing what’s happening in the neighborhood.” When asked if she would
work with Opportunities again, Kortnee quickly stated, “Absolutely.”
Sugarsnap Vermont Catering
“Running a small business is challenging,” said Abbey Duke of
Sugarsnap. “The cash flow, seasonality, and a variety of pieces make
it challenging; Greg was very understanding and open to figuring
those out. It felt like he was a partner in the success of my business
and not just someone who was giving us money.”
Business Lending
Read more Opps Stories
Oppsvt.org/stories

11. Andrew and Wendy
The Swingin’ Pinwheel
“We felt like the staff at Opportunities were invested in us as soon as we
walked in and eager to help us succeed. We always felt heard and never
felt judged. They took the time to advise us and answer any questions we
had, and wherever there might have been a closed door they found another
way. Because of this opportunity, we now have a successful business and
a prosperous future ahead of us. We can’t be more appreciative of the
part they played in actualizing our vision!”
The Swingin’ Pinwheel
Sas Stewart and Sivan Cotel
Owners of Stonecutter Spirits
“They’re a credit union that other banks not only want to work with but
recommend,” said Sas. “I think that speaks really highly to our experience
with them as well. They weren’t originally on our radar, as we’re in a
different part of the state, but in talking with other people their name
came up pretty fast.”
Stonecutter Spirits
Read more Opps Stories
Oppsvt.org/stories

12. Stewart ELFund
In 2008 the Stewart Emergency Loan Fund was started with $50,000 in donations
from investors, foundations, and friends to honor the work and vision of Caryl
Stewart, President Emeritus and Founder of Opportunities Credit Union. The
ELFund provides much needed emergency loans at low rates to individuals in our
community who need small amounts of money but who otherwise would not qualify
for traditional loan programs. Often, these loans help stabilize a family, keep the
family’s vehicle running, provide rent deposits, address medical and dental needs,
pay for burial expense, home heating fuel purchases, and other critical needs.
To learn more about the Stewart ELFund, go to
www.oppsvt.org/personal-loans or to donate to the fund, go to www.oppsvt.org/donations
Loans
86
Totaling
$108,663
Donations to date
$348,440
Gardner Fund
In 2011 the Gardner Micro Loan fund was established with $50,000 in donations from
investors and foundations to honor the dedication and entrepreneurial spirit of our friend
and former Board Chair Oliver Gardner. The Fund provides affordable micro business loans
to entrepreneurs who, like Oliver, aspire to start a business, build assets, and create jobs
for themselves and others on our community. It targets individuals who demonstrate the
motivation and skills to turn their vision into a viable business. The Gardner Fund serves as
a loan loss reserve to mitigate risk for small loans that due to the nature and variables of
“start-up” businesses carry a greater risk, allowing us to make these loans in a manner that
addresses all regulatory requirements for safety and soundness.
To learn more about the Gardner fund, go to
www.oppsvt.org/business-products or to donate to the fund, go to www.oppsvt.org/donations
Loans
38
Totaling
$269,977
Donations to date
$285,367

13. Gilligan Fund
The Gilligan Fund was established in 2014 to honor John Gilligan, our friend and a longtime
volunteer at Opportunities. It was John’s wish to make it possible for more children to learn
to save and toward this goal John and his family started this fund. John recognized that not
all children come from families with savings, and John wanted to make it possible for all
children to be able to open an account and get started on the path to saving for their future.
Data from the Federal Reserve Bank of Boston has shown a direct correlation between a
child having a savings account and the increased likelihood that they will go to college. The
board recognized John’s vision and contributions and donated additional funds to bring the
fund to $10,000. Money from the fund is used to support our “Super Duper Kids” savers by
providing rewards for savings and opening deposits as needed.
To learn more about Super Duper $avers, go to www.oppsvt.org/superduper-savers or to donate
to the fund, go to www.oppsvt.org/donations
Super Duper $avers to date
442
Active Super Duper $avers Today
204
Savings Total
$91,902

14. Coming to America Fund
Opportunities launched the Coming To America Fund with
a donation of $50,000 in late 2015 to help immigrants and
refugees who have come to America fleeing wars and other
tragedies. The fund provides affordable loans to pay for the cost
of citizenship applications, travel, medical, and other related
fees, allowing new Americans to fully participate in their new
country and to reunite their families.
To learn more about this fund, go to
www.oppsvt.org/4us or to donate to the fund, go to
www.oppsvt.org/donations
Independence Fund
In 2004 monies from the State of Vermont along with matched federal
Funding were transferred to Opportunities to continue this fund that
had been previously managed by the credit union. The Independence
Fund provides affordable loans for adaptive vehicles and equipment,
home modifications, dentures, hearing aids, and other assistive
technology to allow all members of our community to have full access
at home, work, and at play.
To learn more about this fund, go to
www.oppsvt.org/independence-fund
Loans
501
Totaling
$4,453,464

15. CDFI Fund
U.S. Treasury Community Development Financial Institutions
Fund (CDFI) Awards:
Opportunities has been a certified CDFI since 1997. These
competitive awards have allowed us to enhance our ability to
meet the needs of our target market. As stated by the CDFI
program, “Access to affordable financial products and services
is a staple of economically vibrant communities. Yet at least one
quarter of American households do not have a bank account
or rely on costly payday lenders and check-cashing outlets.
Additionally, many small businesses and critical community
development projects lack access to the capital investment
necessary to spark economic growth in their communities.”
The CDFI works to address these issues by investing federal
resources in such CDFIs as Opportunities that serve these
communities.
CDFI AWARDS INCLUDE
Financial Assistance Awards
2015, 2014, 2013, 2012, 2010, 2009, 2005, 2004
Secondary Capital Awards
2000, 1999
CORE Awards
2000, 1997
SBA AWARDS INCLUDE
2015
2nd Highest 7(a) Lender by numbers in Vermont
2014
Outstanding Achievement Award
2013
Outstanding Achievement Award
2013 & 2014
Overall increase of SBA volume from previous year
SBA AWARDS
Small Business Administration (SBA) Awards:
Opportunities Credit Union is proud to be a 7 (a) Lender
participating with the SBA to offer additional financing
options to our business borrowers, including financing
under the Patriot/ Patriot Express and Community
Express/ Community Advantages programs.
RECOGNITION & AWARDS

16. We work with a number of partners that share common values and
vision. We leverage our combined resources and skills to address
barriers to housing, employment, credit, and the challenges faced
by people of low wealth. Together, we find innovative solutions to
address the needs of our community and recognize them for their
leadership in affecting positive change.
• ASSOCIATION OF AFRICANS LIVING IN VERMONT
• ASSOCIATION OF VERMONT CREDIT UNIONS
• BURLINGTON & WINOOSKI HOUSING AUTHORITIES
• CHAMPLAIN COLLEGE CHAMPLAIN HOUSING TRUST
• CHILD CARE RESOURCES
• CITY OF WINOOSKI
• COMMITTEE ON TEMPORARY SHELTER
• COMMUNITY ACTION AGENCIES
• CREDIT UNION NATIONAL ASSOCIATION
• ENERGY CO-OP OF VERMONT
• FANNIE MAE
• FEDERAL HOME LOAN BANK OF BOSTON
• FEDERAL RESERVE BANK OF BOSTON
• JOINT URBAN MINISTRY PROJECT
• MERCY CONNECTIONS / WSBP
• NATIONAL BANK OF MIDDLEBURY
• NEW ENGLAND FEDERAL CREDIT UNION
• NORTH COUNTRY FEDERAL CREDIT UNION
• SCORE
• SMALL BUSINESS ADMINISTRATION
• AGENCY OF HUMAN SERVICES
• AGENCY OF NATURAL RESOURCES
• PUBLIC SERVICE DEPARTMENT
• U.S. DEPARTMENT OF HUD
• U.S. TREASURY CDFI FUND
• USDA RURAL DEVELOPMENT
PROGRAM
• VERMONT NETWORK AGAINST
DOMESTIC VIOLENCE
• VERMONT ECONOMIC
DEVELOPMENT AUTHORITY
• VERMONT HOUSING FINANCE
AGENCY
• VERMONT REFUGEE
RESETTLEMENT PROGRAM
(VRRP)
• VERMONT SBDC
• VERMONT STATE HOUSING
AUTHORITY
• VISITING NURSES
ASSOCIATION (VNA)
• WOMEN HELPING
BATTERED WOMEN
OPPORTUNITIES’PARTNERS
OUR
COMMUNITY
PARTNERS

17. Social and Community Investors
All Saints Church
Atomic Credit Union
Ben & Jerry's Foundation
Capital City Housing Foundation
Chittenden Solid Waste District
Christ Church, Presbyterian
City Of Burlington
Community Economics, INC
CSSL Limited Partnership
Cynosure, Inc.
Evangelical Lutheran Church
First Unitarian Universalist Church
Gamper Foundation
House Of Hildegard
LCATV
Main Street Landing
Merchant’s Bank
National Credit Union Association OSCUI
National Federation Of Community Development Credit Unions
New England FCU
North Country FCU
Middlebury Natural Foods Co-Op
Office Of Refugee Resettlement
Opportunity Finance Network
Orange County Court Diversion
People's United Bank
People's United Financial
Sandy River Charitable Foundation
Self-Help Credit Union
Seton Enablement
Sisters Of Charity
Sisters Of St. Francis
Society Of St. Edmund
Summit Credit Union
TD Bank, NA
The Cathedral Church Of St. Paul
Town of Colchester
United Way Of Chittenden County
VT Energy Investment Corporation
VT Housing Finance Agency
VT State Housing Authority
VT Student Assistance Corporation
Winchester Associates
Yackel Foundation
Zia Trust, Inc.
21 Social Investors Who Wish To Remain Anonymous
Investors
Social and community investors provide much
needed affordable capital for housing, businesses,
and personal needs. Without these investments, we
would not be able to have positively impacted so
many families.

18. StatementofFinancialCondition
YearsEndedDecember31,2015,and2014
Liabilities and Members’ Equity
Liabilities:
Members’ Share Accounts
Nonmembers’ Share Accounts
$17,465,622
$10,913,034
$17,377,185
$12,270,538
Notes Payable $299,997 $300,000
Accrued Interest and Dividends Payable $4,387 $5,890
Accrued and Other Liabilities $100,043 $60,639
Deferred Revenue $987,629 $1,519,509
Notes payable, Secondary Capital $2,091,000 $2,091,000
Total Liabilities: $31,861,712 $33,624,761
Assets 2015 2014
Cash and Cash Equivalents
Cash and due from banks $321,885 298,656
Interest-Bearing Deposits in Corporate Credit Union $1,771,521 $2,720,884
Total Cash and Cash Equivalents $2,093,406 $3,019,540
Certificates of Deposit: $6,091,000 $8,734,000
Loans to Members, net of allowance of $269,384 and
$251,761, respectively $25,611,958 $23,036,471
Loans Held for Sale $1,037,181 $1,144,829
Accrued Interest Receivable $105,211 $208,972
Accounts Receivable, Other $46,832 $48,052
Prepaid Expenses and Other Assets $356,702 $295,734
Premises and Equipment, net $257,821 $269,773
National Credit Union Share Insurance Fund Deposit $236,066 $231,627
Mortgage Servicing Rights, net $660,905 $696,809
Total Assets $36,497,082 $37,684,807
Members’ Equity
Regular Reserve $1,534,865 $1,534,865
Undivided Earnings $3,100,505 $2,526,181
Total Members’ Equity $4,635,370 $4,061,046
Total Liabilities and Members’ Equity $36,497,082 $37,685,807

19. StatementofIncome
YearsEndedDecember31,2015,and2014
Interest Income 2015 2014
Loans Receivable $1,262,081 $1,220,026
Interest-Bearing Deposits in Corporate Credit Union $108,414 $147,324
Total Interest Income $1,370,495 $1,367,350
Noninterest Income
Loan Origination and Member Fees $528,986 $473,252
Loan Servicing $196,616 $205,181
Federal Grants $1,643,238 $1,044,483
Other Grants $78,121 $39,500
Other $2,426 $2,844
Total Noninterest income $2,449,387 $1,765,260
Share Accounts $179,683 $223,641
Notes Payable and Secondary Capital Notes Payable $66,394 $66,444
Total Dividend and interest Expense $246,077 $290,085
Net interest income $1,124,418 $1,077,265
Provision for Loan Losses $18,456 $34,121
Net interest income after provision for loan losses $105,962 $1,043,144
Noninterest Expenses
Compensation and Employee Benefits $1,434,798 $1,288,310
Occupancy Costs $149,657 $137,777
Operating Costs $1,385,744 $987,921
Other $10,826 $48,931
Total noninterest expenses $2,981,025 $2,462,939
Net Income $574,324 $345,465
Dividend and Interest Expenses

20. Thank you for investing in us!
oppsvt.org
800.865.8328 | 802.654.4540 | 802.654.4551 fax
WINOOSKI:
25 Winooski Falls Way, Suite 203
P.O. Box 67, Winooski, VT 05404
BURLINGTON:
92 North Avenue
Burlington, VT 05401