b'CHAIRPERSONS REPORTAloha, The past nancial year presented many challenges, with high interest rates and eco-nomicuncertaintyaffectingusall.Inationcausedrealestate,food,andessential service costs to soar. Despite these uctuations, your credit union remains steadfast in its mission, navigating the ever-changing economic landscape to serve you best, our valued members. In these trying times, our commitment to serving the underserved is more critical than ever, as affordability remains a pressing concern for Kauai residents. Our credit union has always prioritized meeting the needs of our members. While other credit unions nationwide face challenges, we continue to make a signicant impact, welcoming almost 1,000 new members in 2024 and holding a vision for a future where all residents can thrive. Our motto, "Put your money where your heart is, Kauai," reects our dedication to our community. With a fantastic staff who attentively listen to members needs, we\'re com-mitted to providing the best tools, resources, and programs to empower families to achieve their dreams and build a secure future. Our Treasurer\'s Report shows a solid and stable nancial outlook despite economic uncertainty and a challenging economy. While we incurred a net loss in 2024 due to investments in stafng and our economic resilience center, this reects our commit-ment to future growth and a mission prioritizing long-term prosperity for our commu-nity. Our asset base has grown to $198 million, a 78% increase over six years.As a CDFI credit union, we uphold a 78-year legacy of serving the underserved. We con-tinue to build upon the foundation laid by those before us, working to ensure nancial stability for our members and a bright future for generations to come. We\'re undertak-ing transformative work in Kapaa, repurposing the old Otsuka building into the Kaluka-lu at 1624 economic resilience center. This investment allows us to expand programs and enhance member services. With three active branches, our mission, vision, and purpose are clear: to strengthen the social fabric of Kauai by providing responsible nancial products and services to low-in-comeand/orhistoricallyunderservedpopulationsandincreasingaccesstoneeded community services. Our Kapaa branch is now open, and we eagerly anticipate serving families and businesses from Kapaa and beyond. I sincerely thank Monica Belz for her six years of CEO leadership and commitment to Kauai. I also thank Sean Kaley for assuming the CEO role last June and advancing our vision.Seanandourdedicatedteamcontinuetoachievenewmilestoneswhile diligently ensuring that deposits are NCUA-insured and member assets remain safe and sound. On behalf of the Board of Directors, I express my deepest MAHALO to our staff and volunteers for their hard work, dedication, and success throughout the past year. Byron Watanabe'