Letter from the CEO

Owners,

Over my 25 years at the credit union, members have repeatedly expressed their desire to travel and move within central Florida but still have access to a MIDFLORIDA branch. Several years ago the board of directors set a goal of fulfilling these requests and laid plans to serve a large geographic area that generally represented the primary travel patterns of our membership. This area also reflected population bases where we believed MIDFLORIDA could successfully grow and succeed.

We began our expansion more than 20 years ago by adding rural counties surrounding our legacy counties of Polk and Highlands. We expanded our reach farther during the financial crisis by merging with three credit unions serving the greater Tampa market. Over the past few years we have added additional counties and completed our basic geographic footprint with the merger of Martin Federal Credit Union serving the greater Orlando market. The map on the cover of this document reflects the 25 counties that now make up MIDFLORIDA’s established service area.

During this odyssey, our goal has been to not only grow geographically but also grow in members and competencies. During the past several years we have gone beyond offering just consumer loan and deposit services, we now service more than one billion dollars in first mortgages, offer indirect auto lending in 300 dealerships and have the largest commercial lending portfolio of any Florida credit union.

Talking about growth, MIDFLORIDA now has more than $3 billion in assets, nearly $2.3 billion in portfolioed loans, 284,000 members and 50 branches. 2017 was another record year for MIDFLORIDA, net income was more than $35 million, asset growth exceeded $415 million and we acquired 36,000 new members. We also added six branches in Orlando, opened new facilities in Land O’ Lakes and Clearwater and acquired building sites in South Tampa, Spring Hill and Port St. Lucie.

MIDFLORIDA’s primary goal has always been to serve its members. We have now laid the foundation to serve them throughout central Florida.

Respectfully Submitted,

D. Kevin Jones, CEO

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