b'PRESIDENT/CEOS REPORTAloha kkou,We are a credit union of Kauai and for Kauai.As we reflect on 2023, measuring all that we have accomplished and all that is in front of us, we have much to be proud of. Our membership growth landed at 3.6% as compared to our peers at 1.1% and1.2%. Our assets grew by 13% to $169 million. We deploy member deposits as loans back into our community at a rate 100% higher than our Hawaii peers. We are realizing our mission as a CDFI.Our story in Kapaa is just beginning. As a multicultural commons, Kapaa serves as the residential heart of Kauai and welcomes all regardless of social status. In modeling a less extractive, more regenerative economy, it is befitting that we have a presence in the heart of where our people live, work and play. We have spent a year listening and learning from community members deeply connected to this place. We have grieved with our community on Maui and done our best to support them. Our plan to build resilience is emerging at a time of unprecedented climate change with a wealth gap that is driving residents off the island, away from their homes and their culture. We also know the solutions are here. The wisdom of the past is not lost. The model of the ahupuaa system guides our thinking on how we build and what we invest in.We see evidence of this knew economy in action: in the restoration of the 600-year-old Alakoko fishpond, in the regenerative model of tourism introduced by Hanalei Initiative and Hui Makaainana o Makana, in an independent utility co-op, in planned cesspool conversions and green infrastructure upgrades, and in the natural resource management of Wapa Foundation. The County of Kauai, the University of Hawaii, Kamehameha Schools and numerous organizations across the state are committed to ina Aloha Economic Futures and Hawaiis transition to a circular economy.We are one part of a greater whole. In the next five years, Kalukalu Co-op at 1624 will mobilize community and capital to address urgent priorities in affordable housing, small business development and non-profit capacity building. The funding we leverage, with like-minded partners,will catalyze broad-based solutions that a single organization, lender or investor cannot solve. Its not too hard or too late. Our 77-year history of serving the community supports this bold call for change. As a member of our credit union, you do more than bank. You become part of a regenerative wealth cycle ensuring future generations thrive.Monica BelzCEO and President'