Building a strong organization takes time to carefully create a culture, apply sound management and implement a social vision. It is a long-term process.

I am very pleased with the performance of Envision Financial’s management team and staff in 2003 to strengthen our operations. And I am delighted that over 85,000 members now benefit from the innovative financial and other products and services that we provide.

Serving our members better

Matching our promises to members with performance is critically important in today’s intensely competitive marketplace. We must constantly ensure that we deliver on our promises to provide exceptional value and innovative financial products and services.

New technology plays an important and valuable role in these efforts. In 2003, we completed upgrading our banking system, the backbone of our operations. Regrettably, despite our best efforts members and employees had to cope with some challenges during this process.

Now that this conversion is complete, we have the framework in place to continue to improve our efficiency and to grow. Providing for our growth and for innovations in products and services takes considerable financial resources. Fortunately, Envision Financial is in excellent financial health and has the resources to continue to make the essential investments.

Committed to organizational excellence

I believe that Envision’s success has come from the continuous pursuit of improvement. In 2003, our achievements and commitment were recognized when we received the National Quality Institute’s Certificate of Merit for organizational excellence.

The institute is an independent, not-for-profit organization dedicated to helping Canada work better. Receiving the institute’s award soon after a merger that involved enormous change is a wonderful compliment to our employees. We are the first Canadian financial organization to be recognized this way.

The award provided more than recognition though. We also acquired valuable knowledge during the institute’s quality review process that will provide us with the focus and discipline to continue to improve our organization.

Making community dreams a reality

To grow and prosper, we need to work hard as a good corporate citizen to improve the communities we serve.

One of our more important social responsibility initiatives is the Envision Credit Union Charitable Foundation. The foundation was established in 1996 to provide much-needed funding to help make a variety of community dreams a reality.

Our goal is to build sufficient financial reserves to enable the foundation to be self-sustaining. This will enable us to contribute to a wider range of community-based initiatives. The foundation’s endowment grows through donations from Envision Financial and from like-minded individuals and groups, so your financial support to help us reach our goal sooner is welcomed and much appreciated.

Looking ahead

Envision Financial will continue to face competitive challenges. Federal government leadership changes have increased speculation over future bank mergers. And our operations increasingly compete with non-traditional financial services organizations targeting our market segments. Your Board is keenly aware of these challenges and will take decisive steps to meet them and to ensure that the co-operative spirit and tenets of the Envision Financial philosophy endure for generations to come.

In 2004, the Board of Directors will begin a period of change to reduce its size and to make Board member transition more efficient. The next election of directors is pivotal to this process. I encourage every member to vote and to attend our annual general meeting on April 26, 2004.

I thank my fellow directors for their continued support. I also am grateful to our staff for doing a tremendous job pulling together to make 2003 a very successful year.

Terry Enns
Board's Chair