Easy Money – Q3 2024 Newsletter

Welcome to CBC’s e-Newsletter! Get the latest news about what’s going on in and around OceanAir Federal Credit Union.

Letter from our president and CEO, Rick Weber.

Dear CBC Members,

I am in a reflecting period and as we move into Q3 of 2024 I look back at our accomplishments of 2023. Our commitment to providing quality financial products and services has yielded a year of robust growth and significant achievements. Our total assets reached an impressive $839 million, demonstrating our stability and growth in the communities we serve. The year’s highlight was the opening of our Simi Valley Branch as another Dunkin Café. In addition, we added a new loan product with Q-Cash loans for life’s emergencies. This new loan can provide you access to funds with just six clicks on your phone anytime and approval decision and funding in under a minute.

As we move forward, we are excited to announce that we are changing our name to OceanAir Federal Credit Union! Yes, you read that right! We are evolving, but our commitment to serving you remains steadfast. Our new name, OceanAir Federal Credit Union, reflects our aspiration to provide you with “Banking with a Breeze” and deliver worry-free and easy service. While our name is changing, our core values, mission, and dedication to serving you remain the same. We are still the same credit union you have grown to trust over the years, now with a new name that better represents our vision for the future.

We thank you for your continued support and trust in OceanAir Federal Credit Union. Together, we are not just a credit union; we are a community.

Warm regards,
Rick Weber

Our Vision

Our vision is to inspire financial happiness, one member at a time.

Our Mission

Empowering people along their financial journey through personalized and innovative service.

Report from the Chairman

Thank you for being a member of OceanAir Federal Credit Union

At CBC we have some of the best, most helpful employees of any financial institution. They work hard to make sure to understand your needs and work to get you the products and services that benefit you. From loans you need to keep your family and lives moving, to some of the best savings’ rates in the country right here in Ventura County, CBC offers something for everyone in our community. Our EPIC program offers services and benefits that are not usually offered together.

Ventura County is a very diverse community, whether you sit at the beach enjoying the ocean air, or work atop the grade, we hope you will come visit us soon at our growing branch network. Stop in and see one of our tellers or member service representatives, to learn about all the great new things we offer. Whether it is top-notch wealth management, taking care of a routine DMV appointment, filing your taxes, or getting a broken cellphone repaired – we have your back.

Thank you again for being a member of CBC, it is you – our members – who inspire our employees and the volunteers that make CBC work. If there is anything your Board of Directors can do for you, please let me know. You can e-mail me anytime at [email protected].

Supervisory Committee Chair Letter

The Supervisory Committee, a dedicated team of five volunteer members, serves as the representative body for the interests of all our members by ensuring the following:

• The secure protection of all members’ assets;
• The establishment of relevant policies and procedures;
• The efficacy of our internal control mechanisms;
• Adherence to all applicable laws and regulatory requirements; and
• Accurate representation of the Credit Union’s financial status, in line with universally recognized accounting principles.

To fulfill these responsibilities, the Supervisory Committee routinely enlists the support of selected professional service firms. This collaboration aids in our continuous oversight duties, including the regular monitoring of CBC’s internal control environment, compliance procedures, and the execution of periodic audits across diverse credit union operations. The Committee convenes regularly to discuss findings and recommendations.

We are pleased to report that CBC’s financial health remains strong, operating within a robust internal control environment that ensures compliance with all relevant laws and regulations.

On behalf of the Supervisory Committee, we extend our heartfelt gratitude to the members, staff, and elected officials of CBC. As the Credit Union continues to provide a reliable and financially secure institution for our members, we look forward to serving you throughout the rest of 2024.

Questions about the name change?

Please visit the following resources: