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2022 Annual Report

A Message from the President & CEO

I’m pleased to open our 2022 Annual Report and share some of 3Rivers’ highlights and accomplishments. Last year ended much differently than it began—globally, it was a year filled with heightened market volatility and decades-high inflation—but through it all, our credit union continued to experience excellent growth. We passed the $2B dollar milestone in assets, growing by $315M, or 16.4%, and surpassed 110,000 in members. 3Rivers has more than doubled in asset size in the past five years. We once again added over $30M to our reserves, providing both safety and capital to continue growing in 2023.


3Rivers was recognized nationally for our strong performance, receiving Raddon Financial Group’s Crystal Performance Award, and making both S&P Global and’s lists of the top 100 Credit Unions in the United States. We broke into the top 200 credit unions in the country (by size) at 198, remained the fifth largest credit union in Indiana, and were the second-fastest growing large credit union ($1B+) in Indiana!

Speaking of growth, in early 2022, we announced our plans to expand into Central Indiana, opening branches in Fortville, Muncie, and Pendleton. By mid-December, we opened our Fortville location and made waves in the region, connecting with local businesses, taking part in area events, and investing in the Fortville community. When our Muncie and Pendleton branches open later this year, they’ll bring our branch count to 24.

As mentioned, 2022 ended on a much different note than it started. Persistent inflation caused the Federal Reserve to aggressively raise rates. This was a welcome and long overdue lift to our members looking to save, putting some numbers in front of the decimal point, in yields other than 0. However, it also dramatically impacted housing affordability, along with consumer and business loan rates. Despite this, we continued working with our members and helping them meet their goals—purchasing homes, borrowing for major expenses, investing their dollars—in ways that positively affected their financial wellness. We’ll continue to ensure our members feel equipped to make informed financial decisions with confidence as we navigate the continued, uncertain economic times in 2023.

I remain proud of Team3 and their dedication to making a difference. They didn’t only go above and beyond for our members in 2022, but selflessly donated much of their time, talents, and own dollars into our communities. In times of uncertainty, most seek the sidelines, but Team3 rises to meet new challenges time and again. As evidence of that, our employees donated a record $101,000 to our 2022 United Way campaign and volunteered countless hours to local non-profits.

Our cooperative’s ability to continue achieving record-breaking performance and remain focused on our mission while surrounded by such an unpredictable environment in 2022 was a testament to the support and patronage of our team, our members, and our community. We look forward to continuing to serve you in 2023!

Thank you for your continued trust in 3Rivers.



Don CatesPresident & CEO

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