On behalf of the Staff and Board of Directors of Gunnison Savings & Loan Association, I am proud to present to you the Association's Statement of Condition as of September 30, 2018.
Established in 1911 for the specific purpose of providing a reliable source of homeownership financing to the residents of the Gunnison Valley, Gunnison Savings and Loan has successfully carried out that mission continuously for 107 years. With the support of our members we are well positioned to meet the credit needs of our communities as they continue to grow and thrive.
Our depositors are the original socially conscious investors, taking pride in knowing that the funds they invest with us are helping others in our community achieve their dream of owning a home in the Gunnison Country. Depositors can also be comfortable that their Gunnison Savings and Loan investment is safe and secure; with Total Assets of $101,497,000 and Capital of $11,713,000, the financial position of the Association exceeds all regulatory capital standards by a significant margin. In addition, our Association has once again received a 5-Star Superior Rating from Bauer Financial. We have now maintained their Five Star rating for more than 27 years.
This past year was one of significant change here at GS&L as our long time President Steve Williams retired after serving the Association and its members for 45 years. Under Steve's leadership, the Association's assets grew over $66,000,000 from $35,500,000 in January of 1991 when he was appointed President. Having worked with Steve for more than 25 years now, I greatly appreciate his dedication to the Association and its mission.
As you consider your options for investing in your financial future in 2019, we hope you will appreciate the value provided by your Mutual Savings and Loan Association together with the hard work and dedication of our employees. We appreciate your business!
J. Craig Bryant,