Message from the President

News

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10.7.21

Message from the President


This quarter, I am especially pleased to share exceptional news regarding our activities here at Provident. It was another very successful and productive quarter, including a favorable financial health ranking from our regulator, being voted the top credit union in California by Forbes magazine, and we were recognized once again as a Top Workplace in the Bay Area. We also expanded our partnership with San Jose State and continued our progress on diversity, equity, and inclusion initiatives.

Continue reading the recaps below as we celebrate another great quarter at Provident – and many thanks for your continued patronage and faith in us.
 
Forbes Awards Provident "Best Credit Union in California for 2021."
It pleases me to announce that Forbes Magazine named Provident as the "Best Credit Union in California for 2021." Forbes partnered with market research firm Statista to produce the magazine's fourth annual ranking of the best credit unions in each state.
The research firm surveyed approximately 25,000 U.S. citizens with a credit union checking account. (Sample sizes varied in each state according to population size.) Checking account participants rated every credit union on overall satisfaction plus five different areas: trust, terms and conditions, branch services, digital services, and financial advice. In California, Provident ranked Number One!
 
Best of Bauer Award
Provident has earned the prestigious “Best of Bauer Credit Union” status from BauerFinancial, Inc., the Nation’s Premier Credit Union and Bank Rating Firm. This distinction is reserved solely for institutions that have earned Bauer’s highest (5-Star) rating consistently for at least 25 years. (This marks the 111th consecutive quarter for Provident Credit Union.) To earn a 5-Star rating, the Credit Union must excel under a rigorous, independent analysis of its financial condition. Provident is well-positioned to continue to support its membership as we navigate through our ever-changing circumstances.

Provident Receives A+ Financial Health Rating
We are delighted to announce that DepositsAccounts.com again awarded Provident an A+ rating for financial health. DepositAccounts.com rates 4,137 federally-insured U.S. banks and 2,943 federally-insured U.S. credit unions annually for financial strength and stability using a scale of A+ (healthiest) to F (worst). The A+ rating is the highest financial health grade awarded to financial institutions. This rating demonstrates our continued dedication to the highest financial standards by our team on behalf of members.
 
Provident is a “2021 Top Workplace!”
We recently learned we were awarded a “2021 Top Workplace” by the Bay Area News Group. The award represents the seventh year we received a Top Workplaces recognition. Companies are categorized by size and ranked on employee feedback collected from an anonymous survey. Provident ranked within the top 30 for mid-size companies. The Bay Area News Group recognized 83 Companies and organizations as Top Workplaces for 2021.
We are proud of our employees and value their commitment by offering a generous benefits package and resources to support their physical, financial, and emotional well-being.
 
Provident and San Jose State University Forge Long-Term Relationship
On September 29, Provident and San Jose State University (SJSU) held a ribbon-cutting ceremony and reception to acknowledge our significant support of the University. The event officially unveiled the signage and naming rights partnership at the newly named Provident Credit Union Event Center.

Celebrating Global Diversity Awareness Month
October is Global Diversity Awareness Month. During the coming month, we’ll raise awareness about various important ethnic celebrations by email and social media, as well as launch our annual diversity, equity, and inclusion (DEI) employee survey. All staff will complete diversity and inclusion training in Q4 with additional DEI learning and development opportunities for all. Our management team is also slated to participate in focused sessions regarding our diversity and inclusion initiatives.
 
My sincere and continuing thanks to each of you for allowing us to serve your financial needs.

 
With Best Regards,
Jim Ernest
President and CEO

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