Powered By Community Minded Members

Douglas Kidd
Chairman, Board of Directors
Vicki Hawkins

Throughout our years of service, we’ve listened and learned from our members. We’ve anticipated their needs and we’ve evolved our service delivery to meet trends and changes through the decades.

The financial landscape and the tools we’ve used to run our organization have significantly changed over the years just as ATMs, online banking, and now mobile banking have played a significant role in shaping our organization and members’ behaviors.
As time and technology have influenced our institution, so have the voices of our members. In 2014, we reached out to thousands of members asking poignant questions and receiving thoughtful answers. Their responses to our detailed membership survey revealed some surprising facts and affirmed our belief in member loyalty.

Among the many highlights, we learned that our consistent year-over-year membership growth is directly in-line with other high performing credit unions. We also know that we’re attracting new members through member referrals. In fact, 56% of respondents said that they learned about Dort Federal through a friend or family member. Through those referrals and strong brand awareness, we grew to 69,059 members in 2014, a net increase of nearly 4,000 members. It’s no wonder then, our results put us in the 87th percentile for members “extremely likely to recommend” their credit union.

We were also delighted to find more than three quarters of our members consider Dort Federal Credit Union their primary financial institution (PFI). While that’s a terrific start, we continue to look for ways to grow the number of members calling us their PFI. This indicates the depth of our relationships with our members and gives a solid nod to member loyalty. This is where we truly shine as an institution. The survey provider measures member loyalty using an index. On this Member Loyalty Index, high performing credit unions have a score of 55. Dort Federal Credit Union’s index score is 90, putting our credit union in the 95th percentile. Based on the longevity of our memberships and the number of products and services each member holds with us, this data affirms what we’ve known all along.


While our statistical results were impressive, the hand-written comments we received were equally refreshing. While many members noted their satisfaction with Dort Federal, some hit on areas where we can grow. We take each comment seriously and we are using this invaluable feedback as a springboard for change and improvements.

Expansion was on some members’ mind, inquiring about Dort Federal expanding our physical footprint. In addition to growing our facilities, we are also working to grow our services, products, and delivery channels to improve our members’ experience. A plan for future development is underway and we look forward to sharing more details in 2015.

With expansion comes opportunities for growth—and we’re ready! Our lending growth continued to be strong in 2014. Our lending portfolio grew by 9.62% in 2014 with a year-over-year increase of $35 million—capping the year with a total lending portfolio of just below $400 million.

Vehicle lending remains the credit union’s backbone. In 2014 we financed 6,828 new and used vehicles for $84.4 million. We worked hard to build our mortgage portfolio as well in this historically low rate environment. We financed 357 new first mortgages totaling $35.5 million in 2014. We ranked seventh in Genesee County for lending volume in the same year. While this recognition is notable, our goal is to continue to move up the rankings. The competition is tough, but our competitive low rates, array of mortgage offerings, and our quality service will help us achieve our goals.

Service. Lending. Expansion. Our goals for 2015 are clear. 
We’re excited to welcome the year ahead and we’re glad you’re sharing in our journey.

Leadership for Success

Elected by our membership, our volunteer Board of Directors guides the credit union with both historical perspective and vision for the future. Their operational governance is driven by their commitment to our members’ financial well‑being. Our Board of Directors is committed to the success of our membership and the stability of our institution.

Douglas Kidd
Chairman, Board of Directors
Wayne Natzke
First Vice Chair
Bruce Allan
Second Vice Chair
Dana Stoddard
Harry Awdish
Beverly Kittle
Diane Piercy

Investing in our Future

It takes a sense of ownership, pride, and passion to make a community strong. Dort Federal Credit Union is committed to the communities we serve and we’re proud to make investments in time and funding to the many organizations who share our dedication for strong communities. We recognize the following organizations for their passion to make a difference:

  • Alzheimer’s Association ofGreater Michigan, Flint Walk
  • American Cancer Society/Flint
  • American Red Cross/Genesee County
  • American Red Cross/Lapeer
  • Autism Support & Resource Center
  • Big Brothers Big Sisters of Greater Flint
  • Boys and Girls Club of Greater Flint
  • Carriage Town Ministries
  • Catholic Charities of Shiawassee & Genesee Counties
  • Edible Flint
  • Fenton Fire Department
  • Flint Children’s Museum
  • Flint City Theatre
  • Flint Farmers’ Market
  • Flint Institute of Music
  • Flushing Rotary Club

  • Food Bank of Eastern Michigan
  • Friends of Sloan-Longway Museum
  • Grand Blanc Farmers’ Market
  • Greater Flint Sunrise Rotary
  • Habitat for Humanity/Lapeer County
  • Headwaters Trails
  • Humane Society of Genesee County
  • Hurley Foundation – Children’s Wish Fund
  • Kiwanis Club of Burton
  • Kiwanis Club of Fenton
  • Lapeer Center for the Arts
  • Lapeer Optimist Club
  • March of Dimes of Genesee County
  • Michigan Lupus Foundation
  • Motherly Intercession
  • Music in the Parks (Flint Institute of Music)

  • Old Newsboys of Flint
  • PIX Theater of Lapeer
  • Priority Children
  • Shelter of Flint
  • Southern Lake Parks & Recreation (Keepers of Shiawassee River)
  • The Alexander Foundation
  • UAW Summerfest
  • United Way of Genesee County
  • Universal Kidney Foundation
  • Vietnam Veterans of America – Genesee County
  • Vocational Independence Program (VIP)
  • Wellness AIDS Services, Inc.
  • Whaley Children’s Center
  • YMCA of Greater Flint
  • Zoie Sky
  • Zonta Club of Fenton

Banzai Teacher Kits for Financial Literacy

In late 2013, Dort Federal partnered with Banzai! to offer financial literacy kits for middle school and high school teachers. The kits include workbooks and classroom tools, along with an online module. During the 2013-2014 school year, Dort Federal fulfilled 45 teacher requests for 2,500 students. To the right is a list of the schools using the materials.

High Schools

  • Atherton High School
  • Beecher High School
  • Byron Area High School
  • Carman-Ainsworth High School
  • Clio Area High School
  • Davison High School
  • E.A. Johnson Memorial High School – Mt. Morris
  • Fenton High School
  • Goodrich High School
  • Hamady Community High School
  • Hill-McCloy High School – Montrose
  • Lake Fenton High School
  • Lapeer West High School
  • Linden High School
  • Northwestern High School
  • Northern High School
  • Southwestern Academy

Middle Schools/ K-12

  • Bendle Middle School
  • Carmen-Ainsworth Middle School
  • Chatfield School – Lapeer
  • Davison Alternative Education – Davison
  • Flint Southwestern Classical Academy
  • Good Shepherd Lutheran School – Burton
  • Grand Blanc Academy
  • Grand Blanc Middle School East
  • Grand Blanc Middle School West
  • International Academy of Flint
  • Lake Fenton Middle School
  • Linden Charter Academy – Flint
  • Madison Academy – Burton
  • Southwestern Academy – Flint
  • St Mary’s School – Mt. Morris
  • St. Pius X School – Flint
  • Woodland Park Academy – Grand Blanc

Strong Growth

Harry Awdish

On behalf of the Board of Directors, it is my privilege to share Dort Federal Credit Union’s 2014 financial status report. In overview, the credit union realized strong gains in assets, loans, and capital.

We ended 2014 as a fiscally sound and secure financial institution. At year end, our assets totaled $610 million, an increase of 7.6%, or $43 million. Our total income increased by 6.6% and our Return on Assets increased to a very respectable 1.50%, up from 1.18% in 2013. The credit union’s capital position also improved to a very strong 18.11%. Dort Federal Credit Union is proud to maintain a higher capital ratio than required by the National Credit Union Administration (NCUA), our government regulatory agency.

On par with our asset, income, and capital gains, our loan growth also carried over momentum from 2013. The credit union realized a $35 million growth in loans, ending the year with outstanding loan balances of $398 million. With our consistently strong loan growth, we continue to emphasize the importance of credit quality. Our dedication to this area helped us achieve a five-year low delinquency rate of 1.17%.

Dort Federal Credit Union remains a leader among our peer institutions for consistently strong financial performance. We are poised for growth and look forward to delivering a broad array of quality financial services to our members both current and future.

Stable & Secure

Diane Piercy
Chairperson of the Supervisory Committee

Dort Federal Credit Union’s Supervisory Committee is the members’ committee in place to ensure member assets are appropriately safeguarded.

The committee carries out this objective through duties that include: oversight of the credit union’s financial activities, conducting independent audits, confirming member accounts, protecting financial confidentiality, response to any unusual activity, and ensuring the safety and integrity of our credit union.

Assisting the committee with our 2014 annual audit and providing fiscal advice, the Supervisory Committee retained the services of Certified Public Accounting firm, Plante & Moran, PLLC.

As the Chairperson of the Supervisory Committee, I am pleased to report Dort Federal Credit Union is stable and secure. Our institution is operating in accordance with the regulations established by the National Credit Union Administration (NCUA) as well as the professional standards prescribed by our Board of Directors.

On behalf of the 2014 Supervisory Committee, we are honored to serve you. We invite you to share any questions or concerns regarding regulatory compliance or credit union policy. Thank you for your trust in our supervision. We are committed to maintaining your confidence in Dort Federal Credit Union.

Continued Growth

Member feedback featured throughout this report was received from the
Dort Federal member survey of 2014. Member responses were anonymous.