on the roadWITH XFCU2013 Annual Report

Federally insured by NCUA

a message from THE BOARD CHAIR

ldquoLooking at what you had

to say this past year I am

delighted with our Credit

Unionrsquos performancehellip

wersquore defnitely headed in

the right directionrdquo

If you arenrsquot exactly sure what role the Board of Directors plays in running Xceed Financial you arenrsquot alone Basically we act as representatives of the Credit Unionrsquos 65000 members making policy and setting strategic goals for our very capable President and Chief Executive and her team In short wersquore here to ensure that the Credit Unionrsquos member-owners are happy with the products and services theyrsquore getting and to make sure their money is safe

The Supervisory Committee Report on page 4 validates our judgment that Xceed Financial continues to be fnancially sound and secure But what about the happy members part There are actually quite a few measures the Credit Union employs to gauge member satisfaction

Among them are hundreds of online member surveys done each year If yoursquove taken the time to respond to one of these surveys we want you to know we appreciate you taking the time to share your opinions We also want you to know that your voice has been heard at the senior-most levels of Credit Union management

Looking at what you had to say this past year I am delighted with our Credit Unionrsquos performance The percentage of members who say they are ldquoSatisfedrdquo or ldquoVery Satisfedrdquo was nearly 91 Within that combined fgure the number of ldquoVery Satisfedrdquo members jumped from 65 last year to 691 at the end of 2013 That tells me that wersquore defnitely heading in the right direction

On behalf of your volunteer Board of Directors I want to thank you for your membership for your active participation in shaping Xceedrsquos Financialrsquos future and for your trust in our stewardship

2

Dennis Ruffner Board Chair

If I had to single out just one thing to describe the Credit Unionrsquos priorities a message from THE PRESIDENT amp CHIEF EXECUTIVE

in 2013 I would say it was the year of putting more money back in our membersrsquo pockets While members started to feel more optimistic about the slowly-improving economy it was a cautious optimism The Credit Union responded to that sentiment by redoubling our efforts to deliver even more value for Xceed Financial membership and give members more reasons than ever to make us the institution they turn to for all of their fnancial needs

We launched a series of special certifcate promotions offering members the opportunity to earn super-competitive returns on their savings On the lending side we rolled out a continuous stream of deals to make it more affordable for members to buy a car tap the equity in their home pay down debt and take out a personal loan

Members responded enthusiastically to these and other efforts to make their money go farther and work harder Loan balances reached more than $686 million deposits hit record levels and we ended the year with total assets of $807 million

Wersquore proud that those who trust us with their nest eggs can be confdent that their credit union continues to be a rock solid fnancial partner Periodically credit unions are examined for soundness by the National Credit Union Association (NCUA) as well as third-party auditors We successfully completed both in 2013 and with fying colors

This annual report will take you on a road trip through Xceed Financialrsquos key priorities and activities during 2013 As you journey through the yearrsquos events and innovations we hope itrsquos clear that in everything we do we aim to ensure that the Credit Unionrsquos members are in the driverrsquos seat

Teresa Y Freeborn President amp Chief Executive

3

supervisory COMMITTEE REPORT

The Supervisory Committee a group of appointed volunteers is primarily responsible for overseeing the overall safety and soundness of Xceed Financial as well as the credit unionrsquos adherence to operating policies and procedures Each year we reaffrm our commitment to ensuring that your credit union is fnancially stable and maintains the highest member service standards possible

The Supervisory Committee annually conducts a number of on-site audits of Financial Centers and other credit union areas Additionally we review member account records to verify their accuracy and oversee the audit performed by our independent auditing frm Moss Adams LLP Certifed Public Accountants As a result of these combined efforts I am proud to report that Xceed Financial Credit Union and its assets remain fnancially sound and secure

Gretchen Valentine Supervisory Committee Chair

4

employer group EXCURSIONS

Members are busy Sometimes the best way to help them chart a course for reaching their fnancial goals is to come to them where they spend most of their timemdashthe workplace So throughout the year our associates logged the miles visiting our employer group partners and supporting events that are important to them Here are just a few points of interest along the way

Lower Your Payment Members at Wyndham Worldwide drove off with major auto loan savings when we staged a 10-day Lower Your Payment campaign at the companyrsquos headquarters We guaranteed Wyndham associates that if they switched their auto loans to Xceed Financial we would lower their auto loan paymentshellip or give them $50 The event saved Wyndham associates more than $40000 over the lives of their loans

Xerox Diversity Groups Wersquove been proud travel companions with Xerox Corporationrsquos diversity groups for more years than we can count In 2013 we continued to support their aspirations through sponsorships of the Black Womenrsquos Leadership Council (BWLC) Hispanic Association for Professional Advancement (HAPA) and a strong presence at The Womenrsquos Alliance (TWA) International Conference that included one-on-one sessions with Xceed Money Coaches

Easter Seals ldquoWalk with Merdquo We love a good cause and in 2013 we welcomed a great one ndash Easter Seals ndash to the Xceed Financial family To celebrate our associates participated in Easter Sealsrsquo Walk with Me event to raise awareness and support for families living with disabilities We added to the festivities with an attention-getting raffe and lots of fun giveaways

iXceed Fiscal Fitness Challenges This friendly competition in which members compete to increase savings and reduce debt ndash and win a $1000 cash prize ndash grows more popular every year This past year we organized iXceed events with Wyndham Worldwide and The Womenrsquos Alliance (TWA) as well as Xceed Financial associates Cheers to our winners Denise Chrin Brenda Cosimar and Czarina Rojas

5

touring WITH TECHNOLOGY

Xceed Mobile Deposit

Xceed Online

Xceed Mobile

App

Vme from

VISAreg

Many of our employer group partners are well-known technology innovators so of course we have to make sure we deliver the latest industry-leading stuff to make our membersrsquo fnancial lives easier In 2013 it was all about going mobile with new features and capabilities that let members take their credit union with themhellipwherever their journeys led

Xceed Mobile Deposit When we launched Xceed Mobile Deposit (XMD) this past year we really put the Credit Union in our membersrsquo pockets like never before A feature within the Xceed Mobile app XMD allows iPhone iPad or Android users to snap a photo of a paper check and send it to us Since members must log-in to their mobile accounts to use the service itrsquos as secure as online banking

Xceed Mobile App Whether members were addicted to Android or diehard for iPhone or iPad we constantly tweaked our mobile apps to give them a better experience We completed our mobile app portfolio by rolling-out an app for Android-based tablets containing all the functionality of the iPad app as well as the capability to open new accounts and apply for loans

Vme from VISAreg

Just in time for the holiday shopping season we introduced members to our new ldquodigital walletrdquo Available at no cost to members it can help them speed through online checkout while protecting debit and credit card information

Xceed Online We came pretty close to making it fun to pay bills with a redesigned bill pay page that rocks a sleek new look and has lots more intuitive features to get the job done faster and easier We also made it simpler for members to manage their Xceed Financial Visareg with a new credit card page that lets them schedule payments set up alerts and notify us of upcoming travel plans for example as well as download account activities and statements to Quicken QuickBooks and Money

6

roadmap FOR INVESTING

HEALTHCARE

Cost Plannin

g

AFFORD ABLE

COLLEGE

MA

KIN

G

+LONG-TERM CAREI NSURANCE

Itrsquos easy to take a wrong turn and get side-tracked on the road to retirement Our Investment Services group provides savvy guidance to help members map out sound customized strategies to achieve their fnancial goals

Thatrsquos one of the great things about Xceed Financial membershipmdash whether yoursquore just starting out or an experienced investor our seasoned Financial Consultants can help you prepare for lifersquos milestones

One of the ways we do this is by hosting ldquoLunch and Learnrdquo seminars at employer group workplaces and evening seminars at our Financial Centers Throughout 2013 these events were well-attended by members and their families who learned about topics like

bull Healthcare Cost Planning

bull Long-Term Care Insurance

bull Family Asset Management

bull Making College Affordable

bull Social Security Beneft Strategies

bull Ensuring Sustainable Income During Retirement

bull Innovative Investment Strategies

bull Past Present and Future for Investing

Itrsquos pretty clear that members like the fnancial education personal service and independent advice they get from Xceed Financial Consultants Last year the Investment Services group far surpassed even our high expectations adding $282 million in assets under management

SOCI

AL SECURITY

BENE FI T STR A

7

driving AWAY WITH SAVINGS

When we noticed that quite a few Xceed Financial members were missing out on the great deals the Credit Union offers on loans we had to pull over and see if we could fx that situation Throughout the year we invited members to get behind the wheel take out personal loans transfer credit card balances and tap the equity in their homes with super attractive rates and terms

Beat Your Ratehellipby up to 2 We helped members save big over the lives of their auto and personal loans and lines of credit with our ldquoBeat Your Raterdquo campaign Depending on the rate they had with another lender we offered rate reductions of up to 2 when members refnanced those loans with the Credit Union

A Better Credit Card In 2013 we made the Xceed Platinum Visareg credit card an even better value with balance transfer promotions that encouraged members to ditch high-interest cards and better manage their credit card debt by transferring their balances to our card

Letting Your Home Pay You This past year members in many parts of the country saw their home values increase We all cheered that news And we one-upped it by making it affordable for members to tap their equity with low-rate home equity loans and Home Equity Lines of Credit (HELOCs)

$ $$$$

$ 8

points OF INTEREST

Whether yoursquore running a small business or putting money aside for the down payment on a home when it comes to reaching savings goals there really are no shortcuts So in 2013 we helped all members get a better return on the money they set aside and worked with business members to ramp up their fscal ftness

Share Certifcates With both shorter and longer term options and excellent dividend rates the Credit Unionrsquos share certifcates shifted both consumer member and business member savings into high gear

Affordable Care Act The Affordable Care Act has caused concern for a lot of small business owners who were unsure about how the law might affect them We helped our Rochester-area business members prepare for the new health care lawrsquos requirements with a seminar at our Pittsford Financial Center

Small Business Week At Xceed Financial small business is a very big deal We showed our support for the people who own and work for those engines of economic growth by celebrating Small Business Week June 17-21

SOHO Expo When Rochesterrsquos entrepreneurs gathered for the Small Offce Home Offce (SOHO) Expo our Business Bankers were on hand to share how the Credit Union can help them start or grow their businesses

9

venturing out INTO THE COMMUNITY

Credit unions are all about ldquopeople helping peoplerdquo and for Xceed Financial that also means going the extra mile for our community In 2013 we led and participated in numerous events to raise funds for charity and raise awareness about causes that are important to our members Here are just a few highlights

Take Our Daughters and Sons to Work Day Who counts the money How can I get rich The more than 150 children who visited Financial Centers and our corporate headquarters got answers to those questions and more at Take Our Daughters and Sons to Work Dayreg Those who visited corporate headquarters also got a visit from Numbers Guy Xceedrsquos fnancial superhero and a peek inside the vault at the nearby Douglas Financial Center

Childrenrsquos Miracle Network Hospitals All year long associates companywide organized and supported local and national events raising $46232 in support of our charity of choicemdashChildrenrsquos Miracle Network Hospitals These included the 3rd Annual SACTOWN Ten-Mile Run in Sacramento California Happy Hour for a Cause in El Segundo California and Lunch for a Cause at El Segundo Headquarters which featured an In-N-Out burger truck raffe and visit from Numbers Guy We even cooked for the cause hosting bake sales to raise money

Romeo Doty Scholarships Ten talented high school seniors each received a $1000 scholarship

PEOPLE

HELP ING P

EOPLE XCEED

COMMUNITYgoing the extra mile

from Xceed Financial in honor of the late Romeo Doty a dedicated board member who was also a strong proponent of making higher education accessible for all students

10

driving MEMBER SATISFACTION

Our members the people who own the Credit Union are the reason we exist Throughout the year we keep the pedal to the metal working to offer top-quality products deliver exceptional personal service and show members that theyrsquore always in the driverrsquos seat at Xceed Financial

Making Our Fans Happy Our efforts to give members great products at a great value showed up in our member satisfaction surveys More than 90 of those surveyed during 2013 told us they were either ldquoSatisfedrdquo or ldquoVery Satisfedrdquo with their credit union but wersquore shooting for 100

Member Appreciation Day We declared Member Appreciation Day in March honoring the members who joined us last year when we welcomed Safeway Los Angeles Federal Credit Union to the Xceed family Celebrating with food fun and prizes at the Firestone Financial Center (formerly the Safeway branch) we also staged a drawing that let one lucky member walk away with an iPad mini

Refer a Friend The great deals our members get are too good to keep to ourselves In 2013 we staged referral sweepstakes events that gave members more encouragement to spread the word about Credit Union membership Each time a member referred a friend family member or colleague they were automatically entered to win a $500 Visa gift card Congratulations to our members Jaime Parkinson Natasha Chilingerian and Carol Edwardshellipand to the many friends who are now enjoying way better deals on savings and loans than they got with their old banks

11

fnancials CONSOLIDATED STATEMENT OF INCOME

Unaudited Financial Statements 123113

INTEREST INCOME 2013

Total Interest on Loans $29201330

Total Interest on Investments 682491

TOTAL INTEREST INCOME $29883821

INTEREST EXPENSE

Total Dividends on Member Savings $3511002

Other Interest Expense 778839

TOTAL INTEREST EXPENSE

NET INTEREST INCOME

PROVISION FOR LOAN LOSSES

$4289841

$25593980

-$275000

NET INTEREST INCOME AFTER PROVISION

NON-INTEREST INCOME

Fee Income

Other Operating Income

$25868980

$3394223

3267766

TOTAL NON-INTEREST INCOME

NON-INTEREST EXPENSE

Salaries and Benefts

Other Expenses

$6661989

$16771209

17004950

TOTAL NON-INTEREST EXPENSE

Total Non-Operating Income(Expense)

NCUSIF share insurance premium amp Temporary

Corporate Credit Union Stabilization Expenses

$33776159

3086343

524326

NCUA amp Stabilization Expenses $1841153

NET INCOME $1316827

12

fnancials CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

Unaudited Financial Statements 123113

ASSETS 2013

Net Loans $686921760

Cash 36613701

Total Investments 21631487

Other Assets 61822603

TOTAL ASSETS $806989551

LIABILITIES amp MEMBERSrsquo EQUITY

LIABILITIES

Notes Payable $58000000

Other Liabilities 6530576

TOTAL LIABILITIES $64530576

MEMBERSrsquo EQUITY

Member Savings $664012199

Non-Member Savings 0

TOTAL SAVINGS 664012199

NET EQUITY 78446776

TOTAL LIABILITIES amp EQUITY $806989551

For the independent auditorrsquos report and opinion please visit our website at xfcuorg or contact us at 800XFCU222

13

a message from THE BOARD CHAIR

ldquoLooking at what you had

to say this past year I am

delighted with our Credit

Unionrsquos performancehellip

wersquore defnitely headed in

the right directionrdquo

If you arenrsquot exactly sure what role the Board of Directors plays in running Xceed Financial you arenrsquot alone Basically we act as representatives of the Credit Unionrsquos 65000 members making policy and setting strategic goals for our very capable President and Chief Executive and her team In short wersquore here to ensure that the Credit Unionrsquos member-owners are happy with the products and services theyrsquore getting and to make sure their money is safe

The Supervisory Committee Report on page 4 validates our judgment that Xceed Financial continues to be fnancially sound and secure But what about the happy members part There are actually quite a few measures the Credit Union employs to gauge member satisfaction

Among them are hundreds of online member surveys done each year If yoursquove taken the time to respond to one of these surveys we want you to know we appreciate you taking the time to share your opinions We also want you to know that your voice has been heard at the senior-most levels of Credit Union management

Looking at what you had to say this past year I am delighted with our Credit Unionrsquos performance The percentage of members who say they are ldquoSatisfedrdquo or ldquoVery Satisfedrdquo was nearly 91 Within that combined fgure the number of ldquoVery Satisfedrdquo members jumped from 65 last year to 691 at the end of 2013 That tells me that wersquore defnitely heading in the right direction

On behalf of your volunteer Board of Directors I want to thank you for your membership for your active participation in shaping Xceedrsquos Financialrsquos future and for your trust in our stewardship

2

Dennis Ruffner Board Chair

If I had to single out just one thing to describe the Credit Unionrsquos priorities a message from THE PRESIDENT amp CHIEF EXECUTIVE

in 2013 I would say it was the year of putting more money back in our membersrsquo pockets While members started to feel more optimistic about the slowly-improving economy it was a cautious optimism The Credit Union responded to that sentiment by redoubling our efforts to deliver even more value for Xceed Financial membership and give members more reasons than ever to make us the institution they turn to for all of their fnancial needs

We launched a series of special certifcate promotions offering members the opportunity to earn super-competitive returns on their savings On the lending side we rolled out a continuous stream of deals to make it more affordable for members to buy a car tap the equity in their home pay down debt and take out a personal loan

Members responded enthusiastically to these and other efforts to make their money go farther and work harder Loan balances reached more than $686 million deposits hit record levels and we ended the year with total assets of $807 million

Wersquore proud that those who trust us with their nest eggs can be confdent that their credit union continues to be a rock solid fnancial partner Periodically credit unions are examined for soundness by the National Credit Union Association (NCUA) as well as third-party auditors We successfully completed both in 2013 and with fying colors

This annual report will take you on a road trip through Xceed Financialrsquos key priorities and activities during 2013 As you journey through the yearrsquos events and innovations we hope itrsquos clear that in everything we do we aim to ensure that the Credit Unionrsquos members are in the driverrsquos seat

Teresa Y Freeborn President amp Chief Executive

3

supervisory COMMITTEE REPORT

The Supervisory Committee a group of appointed volunteers is primarily responsible for overseeing the overall safety and soundness of Xceed Financial as well as the credit unionrsquos adherence to operating policies and procedures Each year we reaffrm our commitment to ensuring that your credit union is fnancially stable and maintains the highest member service standards possible

The Supervisory Committee annually conducts a number of on-site audits of Financial Centers and other credit union areas Additionally we review member account records to verify their accuracy and oversee the audit performed by our independent auditing frm Moss Adams LLP Certifed Public Accountants As a result of these combined efforts I am proud to report that Xceed Financial Credit Union and its assets remain fnancially sound and secure

Gretchen Valentine Supervisory Committee Chair

4

employer group EXCURSIONS

Members are busy Sometimes the best way to help them chart a course for reaching their fnancial goals is to come to them where they spend most of their timemdashthe workplace So throughout the year our associates logged the miles visiting our employer group partners and supporting events that are important to them Here are just a few points of interest along the way

Lower Your Payment Members at Wyndham Worldwide drove off with major auto loan savings when we staged a 10-day Lower Your Payment campaign at the companyrsquos headquarters We guaranteed Wyndham associates that if they switched their auto loans to Xceed Financial we would lower their auto loan paymentshellip or give them $50 The event saved Wyndham associates more than $40000 over the lives of their loans

Xerox Diversity Groups Wersquove been proud travel companions with Xerox Corporationrsquos diversity groups for more years than we can count In 2013 we continued to support their aspirations through sponsorships of the Black Womenrsquos Leadership Council (BWLC) Hispanic Association for Professional Advancement (HAPA) and a strong presence at The Womenrsquos Alliance (TWA) International Conference that included one-on-one sessions with Xceed Money Coaches

Easter Seals ldquoWalk with Merdquo We love a good cause and in 2013 we welcomed a great one ndash Easter Seals ndash to the Xceed Financial family To celebrate our associates participated in Easter Sealsrsquo Walk with Me event to raise awareness and support for families living with disabilities We added to the festivities with an attention-getting raffe and lots of fun giveaways

iXceed Fiscal Fitness Challenges This friendly competition in which members compete to increase savings and reduce debt ndash and win a $1000 cash prize ndash grows more popular every year This past year we organized iXceed events with Wyndham Worldwide and The Womenrsquos Alliance (TWA) as well as Xceed Financial associates Cheers to our winners Denise Chrin Brenda Cosimar and Czarina Rojas

5

touring WITH TECHNOLOGY

Xceed Mobile Deposit

Xceed Online

Xceed Mobile

App

Vme from

VISAreg

Many of our employer group partners are well-known technology innovators so of course we have to make sure we deliver the latest industry-leading stuff to make our membersrsquo fnancial lives easier In 2013 it was all about going mobile with new features and capabilities that let members take their credit union with themhellipwherever their journeys led

Xceed Mobile Deposit When we launched Xceed Mobile Deposit (XMD) this past year we really put the Credit Union in our membersrsquo pockets like never before A feature within the Xceed Mobile app XMD allows iPhone iPad or Android users to snap a photo of a paper check and send it to us Since members must log-in to their mobile accounts to use the service itrsquos as secure as online banking

Xceed Mobile App Whether members were addicted to Android or diehard for iPhone or iPad we constantly tweaked our mobile apps to give them a better experience We completed our mobile app portfolio by rolling-out an app for Android-based tablets containing all the functionality of the iPad app as well as the capability to open new accounts and apply for loans

Vme from VISAreg

Just in time for the holiday shopping season we introduced members to our new ldquodigital walletrdquo Available at no cost to members it can help them speed through online checkout while protecting debit and credit card information

Xceed Online We came pretty close to making it fun to pay bills with a redesigned bill pay page that rocks a sleek new look and has lots more intuitive features to get the job done faster and easier We also made it simpler for members to manage their Xceed Financial Visareg with a new credit card page that lets them schedule payments set up alerts and notify us of upcoming travel plans for example as well as download account activities and statements to Quicken QuickBooks and Money

6

roadmap FOR INVESTING

HEALTHCARE

Cost Plannin

g

AFFORD ABLE

COLLEGE

MA

KIN

G

+LONG-TERM CAREI NSURANCE

Itrsquos easy to take a wrong turn and get side-tracked on the road to retirement Our Investment Services group provides savvy guidance to help members map out sound customized strategies to achieve their fnancial goals

Thatrsquos one of the great things about Xceed Financial membershipmdash whether yoursquore just starting out or an experienced investor our seasoned Financial Consultants can help you prepare for lifersquos milestones

One of the ways we do this is by hosting ldquoLunch and Learnrdquo seminars at employer group workplaces and evening seminars at our Financial Centers Throughout 2013 these events were well-attended by members and their families who learned about topics like

bull Healthcare Cost Planning

bull Long-Term Care Insurance

bull Family Asset Management

bull Making College Affordable

bull Social Security Beneft Strategies

bull Ensuring Sustainable Income During Retirement

bull Innovative Investment Strategies

bull Past Present and Future for Investing

Itrsquos pretty clear that members like the fnancial education personal service and independent advice they get from Xceed Financial Consultants Last year the Investment Services group far surpassed even our high expectations adding $282 million in assets under management

SOCI

AL SECURITY

BENE FI T STR A

7

driving AWAY WITH SAVINGS

When we noticed that quite a few Xceed Financial members were missing out on the great deals the Credit Union offers on loans we had to pull over and see if we could fx that situation Throughout the year we invited members to get behind the wheel take out personal loans transfer credit card balances and tap the equity in their homes with super attractive rates and terms

Beat Your Ratehellipby up to 2 We helped members save big over the lives of their auto and personal loans and lines of credit with our ldquoBeat Your Raterdquo campaign Depending on the rate they had with another lender we offered rate reductions of up to 2 when members refnanced those loans with the Credit Union

A Better Credit Card In 2013 we made the Xceed Platinum Visareg credit card an even better value with balance transfer promotions that encouraged members to ditch high-interest cards and better manage their credit card debt by transferring their balances to our card

Letting Your Home Pay You This past year members in many parts of the country saw their home values increase We all cheered that news And we one-upped it by making it affordable for members to tap their equity with low-rate home equity loans and Home Equity Lines of Credit (HELOCs)

$ $$$$

$ 8

points OF INTEREST

Whether yoursquore running a small business or putting money aside for the down payment on a home when it comes to reaching savings goals there really are no shortcuts So in 2013 we helped all members get a better return on the money they set aside and worked with business members to ramp up their fscal ftness

Share Certifcates With both shorter and longer term options and excellent dividend rates the Credit Unionrsquos share certifcates shifted both consumer member and business member savings into high gear

Affordable Care Act The Affordable Care Act has caused concern for a lot of small business owners who were unsure about how the law might affect them We helped our Rochester-area business members prepare for the new health care lawrsquos requirements with a seminar at our Pittsford Financial Center

Small Business Week At Xceed Financial small business is a very big deal We showed our support for the people who own and work for those engines of economic growth by celebrating Small Business Week June 17-21

SOHO Expo When Rochesterrsquos entrepreneurs gathered for the Small Offce Home Offce (SOHO) Expo our Business Bankers were on hand to share how the Credit Union can help them start or grow their businesses

9

venturing out INTO THE COMMUNITY

Credit unions are all about ldquopeople helping peoplerdquo and for Xceed Financial that also means going the extra mile for our community In 2013 we led and participated in numerous events to raise funds for charity and raise awareness about causes that are important to our members Here are just a few highlights

Take Our Daughters and Sons to Work Day Who counts the money How can I get rich The more than 150 children who visited Financial Centers and our corporate headquarters got answers to those questions and more at Take Our Daughters and Sons to Work Dayreg Those who visited corporate headquarters also got a visit from Numbers Guy Xceedrsquos fnancial superhero and a peek inside the vault at the nearby Douglas Financial Center

Childrenrsquos Miracle Network Hospitals All year long associates companywide organized and supported local and national events raising $46232 in support of our charity of choicemdashChildrenrsquos Miracle Network Hospitals These included the 3rd Annual SACTOWN Ten-Mile Run in Sacramento California Happy Hour for a Cause in El Segundo California and Lunch for a Cause at El Segundo Headquarters which featured an In-N-Out burger truck raffe and visit from Numbers Guy We even cooked for the cause hosting bake sales to raise money

Romeo Doty Scholarships Ten talented high school seniors each received a $1000 scholarship

PEOPLE

HELP ING P

EOPLE XCEED

COMMUNITYgoing the extra mile

from Xceed Financial in honor of the late Romeo Doty a dedicated board member who was also a strong proponent of making higher education accessible for all students

10

driving MEMBER SATISFACTION

Our members the people who own the Credit Union are the reason we exist Throughout the year we keep the pedal to the metal working to offer top-quality products deliver exceptional personal service and show members that theyrsquore always in the driverrsquos seat at Xceed Financial

Making Our Fans Happy Our efforts to give members great products at a great value showed up in our member satisfaction surveys More than 90 of those surveyed during 2013 told us they were either ldquoSatisfedrdquo or ldquoVery Satisfedrdquo with their credit union but wersquore shooting for 100

Member Appreciation Day We declared Member Appreciation Day in March honoring the members who joined us last year when we welcomed Safeway Los Angeles Federal Credit Union to the Xceed family Celebrating with food fun and prizes at the Firestone Financial Center (formerly the Safeway branch) we also staged a drawing that let one lucky member walk away with an iPad mini

Refer a Friend The great deals our members get are too good to keep to ourselves In 2013 we staged referral sweepstakes events that gave members more encouragement to spread the word about Credit Union membership Each time a member referred a friend family member or colleague they were automatically entered to win a $500 Visa gift card Congratulations to our members Jaime Parkinson Natasha Chilingerian and Carol Edwardshellipand to the many friends who are now enjoying way better deals on savings and loans than they got with their old banks

11

fnancials CONSOLIDATED STATEMENT OF INCOME

Unaudited Financial Statements 123113

INTEREST INCOME 2013

Total Interest on Loans $29201330

Total Interest on Investments 682491

TOTAL INTEREST INCOME $29883821

INTEREST EXPENSE

Total Dividends on Member Savings $3511002

Other Interest Expense 778839

TOTAL INTEREST EXPENSE

NET INTEREST INCOME

PROVISION FOR LOAN LOSSES

$4289841

$25593980

-$275000

NET INTEREST INCOME AFTER PROVISION

NON-INTEREST INCOME

Fee Income

Other Operating Income

$25868980

$3394223

3267766

TOTAL NON-INTEREST INCOME

NON-INTEREST EXPENSE

Salaries and Benefts

Other Expenses

$6661989

$16771209

17004950

TOTAL NON-INTEREST EXPENSE

Total Non-Operating Income(Expense)

NCUSIF share insurance premium amp Temporary

Corporate Credit Union Stabilization Expenses

$33776159

3086343

524326

NCUA amp Stabilization Expenses $1841153

NET INCOME $1316827

12

fnancials CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

Unaudited Financial Statements 123113

ASSETS 2013

Net Loans $686921760

Cash 36613701

Total Investments 21631487

Other Assets 61822603

TOTAL ASSETS $806989551

LIABILITIES amp MEMBERSrsquo EQUITY

LIABILITIES

Notes Payable $58000000

Other Liabilities 6530576

TOTAL LIABILITIES $64530576

MEMBERSrsquo EQUITY

Member Savings $664012199

Non-Member Savings 0

TOTAL SAVINGS 664012199

NET EQUITY 78446776

TOTAL LIABILITIES amp EQUITY $806989551

For the independent auditorrsquos report and opinion please visit our website at xfcuorg or contact us at 800XFCU222

13

If I had to single out just one thing to describe the Credit Unionrsquos priorities a message from THE PRESIDENT amp CHIEF EXECUTIVE

in 2013 I would say it was the year of putting more money back in our membersrsquo pockets While members started to feel more optimistic about the slowly-improving economy it was a cautious optimism The Credit Union responded to that sentiment by redoubling our efforts to deliver even more value for Xceed Financial membership and give members more reasons than ever to make us the institution they turn to for all of their fnancial needs

We launched a series of special certifcate promotions offering members the opportunity to earn super-competitive returns on their savings On the lending side we rolled out a continuous stream of deals to make it more affordable for members to buy a car tap the equity in their home pay down debt and take out a personal loan

Members responded enthusiastically to these and other efforts to make their money go farther and work harder Loan balances reached more than $686 million deposits hit record levels and we ended the year with total assets of $807 million

Wersquore proud that those who trust us with their nest eggs can be confdent that their credit union continues to be a rock solid fnancial partner Periodically credit unions are examined for soundness by the National Credit Union Association (NCUA) as well as third-party auditors We successfully completed both in 2013 and with fying colors

This annual report will take you on a road trip through Xceed Financialrsquos key priorities and activities during 2013 As you journey through the yearrsquos events and innovations we hope itrsquos clear that in everything we do we aim to ensure that the Credit Unionrsquos members are in the driverrsquos seat

Teresa Y Freeborn President amp Chief Executive

3

supervisory COMMITTEE REPORT

The Supervisory Committee a group of appointed volunteers is primarily responsible for overseeing the overall safety and soundness of Xceed Financial as well as the credit unionrsquos adherence to operating policies and procedures Each year we reaffrm our commitment to ensuring that your credit union is fnancially stable and maintains the highest member service standards possible

The Supervisory Committee annually conducts a number of on-site audits of Financial Centers and other credit union areas Additionally we review member account records to verify their accuracy and oversee the audit performed by our independent auditing frm Moss Adams LLP Certifed Public Accountants As a result of these combined efforts I am proud to report that Xceed Financial Credit Union and its assets remain fnancially sound and secure

Gretchen Valentine Supervisory Committee Chair

4

employer group EXCURSIONS

Members are busy Sometimes the best way to help them chart a course for reaching their fnancial goals is to come to them where they spend most of their timemdashthe workplace So throughout the year our associates logged the miles visiting our employer group partners and supporting events that are important to them Here are just a few points of interest along the way

Lower Your Payment Members at Wyndham Worldwide drove off with major auto loan savings when we staged a 10-day Lower Your Payment campaign at the companyrsquos headquarters We guaranteed Wyndham associates that if they switched their auto loans to Xceed Financial we would lower their auto loan paymentshellip or give them $50 The event saved Wyndham associates more than $40000 over the lives of their loans

Xerox Diversity Groups Wersquove been proud travel companions with Xerox Corporationrsquos diversity groups for more years than we can count In 2013 we continued to support their aspirations through sponsorships of the Black Womenrsquos Leadership Council (BWLC) Hispanic Association for Professional Advancement (HAPA) and a strong presence at The Womenrsquos Alliance (TWA) International Conference that included one-on-one sessions with Xceed Money Coaches

Easter Seals ldquoWalk with Merdquo We love a good cause and in 2013 we welcomed a great one ndash Easter Seals ndash to the Xceed Financial family To celebrate our associates participated in Easter Sealsrsquo Walk with Me event to raise awareness and support for families living with disabilities We added to the festivities with an attention-getting raffe and lots of fun giveaways

iXceed Fiscal Fitness Challenges This friendly competition in which members compete to increase savings and reduce debt ndash and win a $1000 cash prize ndash grows more popular every year This past year we organized iXceed events with Wyndham Worldwide and The Womenrsquos Alliance (TWA) as well as Xceed Financial associates Cheers to our winners Denise Chrin Brenda Cosimar and Czarina Rojas

5

touring WITH TECHNOLOGY

Xceed Mobile Deposit

Xceed Online

Xceed Mobile

App

Vme from

VISAreg

Many of our employer group partners are well-known technology innovators so of course we have to make sure we deliver the latest industry-leading stuff to make our membersrsquo fnancial lives easier In 2013 it was all about going mobile with new features and capabilities that let members take their credit union with themhellipwherever their journeys led

Xceed Mobile Deposit When we launched Xceed Mobile Deposit (XMD) this past year we really put the Credit Union in our membersrsquo pockets like never before A feature within the Xceed Mobile app XMD allows iPhone iPad or Android users to snap a photo of a paper check and send it to us Since members must log-in to their mobile accounts to use the service itrsquos as secure as online banking

Xceed Mobile App Whether members were addicted to Android or diehard for iPhone or iPad we constantly tweaked our mobile apps to give them a better experience We completed our mobile app portfolio by rolling-out an app for Android-based tablets containing all the functionality of the iPad app as well as the capability to open new accounts and apply for loans

Vme from VISAreg

Just in time for the holiday shopping season we introduced members to our new ldquodigital walletrdquo Available at no cost to members it can help them speed through online checkout while protecting debit and credit card information

Xceed Online We came pretty close to making it fun to pay bills with a redesigned bill pay page that rocks a sleek new look and has lots more intuitive features to get the job done faster and easier We also made it simpler for members to manage their Xceed Financial Visareg with a new credit card page that lets them schedule payments set up alerts and notify us of upcoming travel plans for example as well as download account activities and statements to Quicken QuickBooks and Money

6

roadmap FOR INVESTING

HEALTHCARE

Cost Plannin

g

AFFORD ABLE

COLLEGE

MA

KIN

G

+LONG-TERM CAREI NSURANCE

Itrsquos easy to take a wrong turn and get side-tracked on the road to retirement Our Investment Services group provides savvy guidance to help members map out sound customized strategies to achieve their fnancial goals

Thatrsquos one of the great things about Xceed Financial membershipmdash whether yoursquore just starting out or an experienced investor our seasoned Financial Consultants can help you prepare for lifersquos milestones

One of the ways we do this is by hosting ldquoLunch and Learnrdquo seminars at employer group workplaces and evening seminars at our Financial Centers Throughout 2013 these events were well-attended by members and their families who learned about topics like

bull Healthcare Cost Planning

bull Long-Term Care Insurance

bull Family Asset Management

bull Making College Affordable

bull Social Security Beneft Strategies

bull Ensuring Sustainable Income During Retirement

bull Innovative Investment Strategies

bull Past Present and Future for Investing

Itrsquos pretty clear that members like the fnancial education personal service and independent advice they get from Xceed Financial Consultants Last year the Investment Services group far surpassed even our high expectations adding $282 million in assets under management

SOCI

AL SECURITY

BENE FI T STR A

7

driving AWAY WITH SAVINGS

When we noticed that quite a few Xceed Financial members were missing out on the great deals the Credit Union offers on loans we had to pull over and see if we could fx that situation Throughout the year we invited members to get behind the wheel take out personal loans transfer credit card balances and tap the equity in their homes with super attractive rates and terms

Beat Your Ratehellipby up to 2 We helped members save big over the lives of their auto and personal loans and lines of credit with our ldquoBeat Your Raterdquo campaign Depending on the rate they had with another lender we offered rate reductions of up to 2 when members refnanced those loans with the Credit Union

A Better Credit Card In 2013 we made the Xceed Platinum Visareg credit card an even better value with balance transfer promotions that encouraged members to ditch high-interest cards and better manage their credit card debt by transferring their balances to our card

Letting Your Home Pay You This past year members in many parts of the country saw their home values increase We all cheered that news And we one-upped it by making it affordable for members to tap their equity with low-rate home equity loans and Home Equity Lines of Credit (HELOCs)

$ $$$$

$ 8

points OF INTEREST

Whether yoursquore running a small business or putting money aside for the down payment on a home when it comes to reaching savings goals there really are no shortcuts So in 2013 we helped all members get a better return on the money they set aside and worked with business members to ramp up their fscal ftness

Share Certifcates With both shorter and longer term options and excellent dividend rates the Credit Unionrsquos share certifcates shifted both consumer member and business member savings into high gear

Affordable Care Act The Affordable Care Act has caused concern for a lot of small business owners who were unsure about how the law might affect them We helped our Rochester-area business members prepare for the new health care lawrsquos requirements with a seminar at our Pittsford Financial Center

Small Business Week At Xceed Financial small business is a very big deal We showed our support for the people who own and work for those engines of economic growth by celebrating Small Business Week June 17-21

SOHO Expo When Rochesterrsquos entrepreneurs gathered for the Small Offce Home Offce (SOHO) Expo our Business Bankers were on hand to share how the Credit Union can help them start or grow their businesses

9

venturing out INTO THE COMMUNITY

Credit unions are all about ldquopeople helping peoplerdquo and for Xceed Financial that also means going the extra mile for our community In 2013 we led and participated in numerous events to raise funds for charity and raise awareness about causes that are important to our members Here are just a few highlights

Take Our Daughters and Sons to Work Day Who counts the money How can I get rich The more than 150 children who visited Financial Centers and our corporate headquarters got answers to those questions and more at Take Our Daughters and Sons to Work Dayreg Those who visited corporate headquarters also got a visit from Numbers Guy Xceedrsquos fnancial superhero and a peek inside the vault at the nearby Douglas Financial Center

Childrenrsquos Miracle Network Hospitals All year long associates companywide organized and supported local and national events raising $46232 in support of our charity of choicemdashChildrenrsquos Miracle Network Hospitals These included the 3rd Annual SACTOWN Ten-Mile Run in Sacramento California Happy Hour for a Cause in El Segundo California and Lunch for a Cause at El Segundo Headquarters which featured an In-N-Out burger truck raffe and visit from Numbers Guy We even cooked for the cause hosting bake sales to raise money

Romeo Doty Scholarships Ten talented high school seniors each received a $1000 scholarship

PEOPLE

HELP ING P

EOPLE XCEED

COMMUNITYgoing the extra mile

from Xceed Financial in honor of the late Romeo Doty a dedicated board member who was also a strong proponent of making higher education accessible for all students

10

driving MEMBER SATISFACTION

Our members the people who own the Credit Union are the reason we exist Throughout the year we keep the pedal to the metal working to offer top-quality products deliver exceptional personal service and show members that theyrsquore always in the driverrsquos seat at Xceed Financial

Making Our Fans Happy Our efforts to give members great products at a great value showed up in our member satisfaction surveys More than 90 of those surveyed during 2013 told us they were either ldquoSatisfedrdquo or ldquoVery Satisfedrdquo with their credit union but wersquore shooting for 100

Member Appreciation Day We declared Member Appreciation Day in March honoring the members who joined us last year when we welcomed Safeway Los Angeles Federal Credit Union to the Xceed family Celebrating with food fun and prizes at the Firestone Financial Center (formerly the Safeway branch) we also staged a drawing that let one lucky member walk away with an iPad mini

Refer a Friend The great deals our members get are too good to keep to ourselves In 2013 we staged referral sweepstakes events that gave members more encouragement to spread the word about Credit Union membership Each time a member referred a friend family member or colleague they were automatically entered to win a $500 Visa gift card Congratulations to our members Jaime Parkinson Natasha Chilingerian and Carol Edwardshellipand to the many friends who are now enjoying way better deals on savings and loans than they got with their old banks

11

fnancials CONSOLIDATED STATEMENT OF INCOME

Unaudited Financial Statements 123113

INTEREST INCOME 2013

Total Interest on Loans $29201330

Total Interest on Investments 682491

TOTAL INTEREST INCOME $29883821

INTEREST EXPENSE

Total Dividends on Member Savings $3511002

Other Interest Expense 778839

TOTAL INTEREST EXPENSE

NET INTEREST INCOME

PROVISION FOR LOAN LOSSES

$4289841

$25593980

-$275000

NET INTEREST INCOME AFTER PROVISION

NON-INTEREST INCOME

Fee Income

Other Operating Income

$25868980

$3394223

3267766

TOTAL NON-INTEREST INCOME

NON-INTEREST EXPENSE

Salaries and Benefts

Other Expenses

$6661989

$16771209

17004950

TOTAL NON-INTEREST EXPENSE

Total Non-Operating Income(Expense)

NCUSIF share insurance premium amp Temporary

Corporate Credit Union Stabilization Expenses

$33776159

3086343

524326

NCUA amp Stabilization Expenses $1841153

NET INCOME $1316827

12

fnancials CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

Unaudited Financial Statements 123113

ASSETS 2013

Net Loans $686921760

Cash 36613701

Total Investments 21631487

Other Assets 61822603

TOTAL ASSETS $806989551

LIABILITIES amp MEMBERSrsquo EQUITY

LIABILITIES

Notes Payable $58000000

Other Liabilities 6530576

TOTAL LIABILITIES $64530576

MEMBERSrsquo EQUITY

Member Savings $664012199

Non-Member Savings 0

TOTAL SAVINGS 664012199

NET EQUITY 78446776

TOTAL LIABILITIES amp EQUITY $806989551

For the independent auditorrsquos report and opinion please visit our website at xfcuorg or contact us at 800XFCU222

13

supervisory COMMITTEE REPORT

The Supervisory Committee a group of appointed volunteers is primarily responsible for overseeing the overall safety and soundness of Xceed Financial as well as the credit unionrsquos adherence to operating policies and procedures Each year we reaffrm our commitment to ensuring that your credit union is fnancially stable and maintains the highest member service standards possible

The Supervisory Committee annually conducts a number of on-site audits of Financial Centers and other credit union areas Additionally we review member account records to verify their accuracy and oversee the audit performed by our independent auditing frm Moss Adams LLP Certifed Public Accountants As a result of these combined efforts I am proud to report that Xceed Financial Credit Union and its assets remain fnancially sound and secure

Gretchen Valentine Supervisory Committee Chair

4

employer group EXCURSIONS

Members are busy Sometimes the best way to help them chart a course for reaching their fnancial goals is to come to them where they spend most of their timemdashthe workplace So throughout the year our associates logged the miles visiting our employer group partners and supporting events that are important to them Here are just a few points of interest along the way

Lower Your Payment Members at Wyndham Worldwide drove off with major auto loan savings when we staged a 10-day Lower Your Payment campaign at the companyrsquos headquarters We guaranteed Wyndham associates that if they switched their auto loans to Xceed Financial we would lower their auto loan paymentshellip or give them $50 The event saved Wyndham associates more than $40000 over the lives of their loans

Xerox Diversity Groups Wersquove been proud travel companions with Xerox Corporationrsquos diversity groups for more years than we can count In 2013 we continued to support their aspirations through sponsorships of the Black Womenrsquos Leadership Council (BWLC) Hispanic Association for Professional Advancement (HAPA) and a strong presence at The Womenrsquos Alliance (TWA) International Conference that included one-on-one sessions with Xceed Money Coaches

Easter Seals ldquoWalk with Merdquo We love a good cause and in 2013 we welcomed a great one ndash Easter Seals ndash to the Xceed Financial family To celebrate our associates participated in Easter Sealsrsquo Walk with Me event to raise awareness and support for families living with disabilities We added to the festivities with an attention-getting raffe and lots of fun giveaways

iXceed Fiscal Fitness Challenges This friendly competition in which members compete to increase savings and reduce debt ndash and win a $1000 cash prize ndash grows more popular every year This past year we organized iXceed events with Wyndham Worldwide and The Womenrsquos Alliance (TWA) as well as Xceed Financial associates Cheers to our winners Denise Chrin Brenda Cosimar and Czarina Rojas

5

touring WITH TECHNOLOGY

Xceed Mobile Deposit

Xceed Online

Xceed Mobile

App

Vme from

VISAreg

Many of our employer group partners are well-known technology innovators so of course we have to make sure we deliver the latest industry-leading stuff to make our membersrsquo fnancial lives easier In 2013 it was all about going mobile with new features and capabilities that let members take their credit union with themhellipwherever their journeys led

Xceed Mobile Deposit When we launched Xceed Mobile Deposit (XMD) this past year we really put the Credit Union in our membersrsquo pockets like never before A feature within the Xceed Mobile app XMD allows iPhone iPad or Android users to snap a photo of a paper check and send it to us Since members must log-in to their mobile accounts to use the service itrsquos as secure as online banking

Xceed Mobile App Whether members were addicted to Android or diehard for iPhone or iPad we constantly tweaked our mobile apps to give them a better experience We completed our mobile app portfolio by rolling-out an app for Android-based tablets containing all the functionality of the iPad app as well as the capability to open new accounts and apply for loans

Vme from VISAreg

Just in time for the holiday shopping season we introduced members to our new ldquodigital walletrdquo Available at no cost to members it can help them speed through online checkout while protecting debit and credit card information

Xceed Online We came pretty close to making it fun to pay bills with a redesigned bill pay page that rocks a sleek new look and has lots more intuitive features to get the job done faster and easier We also made it simpler for members to manage their Xceed Financial Visareg with a new credit card page that lets them schedule payments set up alerts and notify us of upcoming travel plans for example as well as download account activities and statements to Quicken QuickBooks and Money

6

roadmap FOR INVESTING

HEALTHCARE

Cost Plannin

g

AFFORD ABLE

COLLEGE

MA

KIN

G

+LONG-TERM CAREI NSURANCE

Itrsquos easy to take a wrong turn and get side-tracked on the road to retirement Our Investment Services group provides savvy guidance to help members map out sound customized strategies to achieve their fnancial goals

Thatrsquos one of the great things about Xceed Financial membershipmdash whether yoursquore just starting out or an experienced investor our seasoned Financial Consultants can help you prepare for lifersquos milestones

One of the ways we do this is by hosting ldquoLunch and Learnrdquo seminars at employer group workplaces and evening seminars at our Financial Centers Throughout 2013 these events were well-attended by members and their families who learned about topics like

bull Healthcare Cost Planning

bull Long-Term Care Insurance

bull Family Asset Management

bull Making College Affordable

bull Social Security Beneft Strategies

bull Ensuring Sustainable Income During Retirement

bull Innovative Investment Strategies

bull Past Present and Future for Investing

Itrsquos pretty clear that members like the fnancial education personal service and independent advice they get from Xceed Financial Consultants Last year the Investment Services group far surpassed even our high expectations adding $282 million in assets under management

SOCI

AL SECURITY

BENE FI T STR A

7

driving AWAY WITH SAVINGS

When we noticed that quite a few Xceed Financial members were missing out on the great deals the Credit Union offers on loans we had to pull over and see if we could fx that situation Throughout the year we invited members to get behind the wheel take out personal loans transfer credit card balances and tap the equity in their homes with super attractive rates and terms

Beat Your Ratehellipby up to 2 We helped members save big over the lives of their auto and personal loans and lines of credit with our ldquoBeat Your Raterdquo campaign Depending on the rate they had with another lender we offered rate reductions of up to 2 when members refnanced those loans with the Credit Union

A Better Credit Card In 2013 we made the Xceed Platinum Visareg credit card an even better value with balance transfer promotions that encouraged members to ditch high-interest cards and better manage their credit card debt by transferring their balances to our card

Letting Your Home Pay You This past year members in many parts of the country saw their home values increase We all cheered that news And we one-upped it by making it affordable for members to tap their equity with low-rate home equity loans and Home Equity Lines of Credit (HELOCs)

$ $$$$

$ 8

points OF INTEREST

Whether yoursquore running a small business or putting money aside for the down payment on a home when it comes to reaching savings goals there really are no shortcuts So in 2013 we helped all members get a better return on the money they set aside and worked with business members to ramp up their fscal ftness

Share Certifcates With both shorter and longer term options and excellent dividend rates the Credit Unionrsquos share certifcates shifted both consumer member and business member savings into high gear

Affordable Care Act The Affordable Care Act has caused concern for a lot of small business owners who were unsure about how the law might affect them We helped our Rochester-area business members prepare for the new health care lawrsquos requirements with a seminar at our Pittsford Financial Center

Small Business Week At Xceed Financial small business is a very big deal We showed our support for the people who own and work for those engines of economic growth by celebrating Small Business Week June 17-21

SOHO Expo When Rochesterrsquos entrepreneurs gathered for the Small Offce Home Offce (SOHO) Expo our Business Bankers were on hand to share how the Credit Union can help them start or grow their businesses

9

venturing out INTO THE COMMUNITY

Credit unions are all about ldquopeople helping peoplerdquo and for Xceed Financial that also means going the extra mile for our community In 2013 we led and participated in numerous events to raise funds for charity and raise awareness about causes that are important to our members Here are just a few highlights

Take Our Daughters and Sons to Work Day Who counts the money How can I get rich The more than 150 children who visited Financial Centers and our corporate headquarters got answers to those questions and more at Take Our Daughters and Sons to Work Dayreg Those who visited corporate headquarters also got a visit from Numbers Guy Xceedrsquos fnancial superhero and a peek inside the vault at the nearby Douglas Financial Center

Childrenrsquos Miracle Network Hospitals All year long associates companywide organized and supported local and national events raising $46232 in support of our charity of choicemdashChildrenrsquos Miracle Network Hospitals These included the 3rd Annual SACTOWN Ten-Mile Run in Sacramento California Happy Hour for a Cause in El Segundo California and Lunch for a Cause at El Segundo Headquarters which featured an In-N-Out burger truck raffe and visit from Numbers Guy We even cooked for the cause hosting bake sales to raise money

Romeo Doty Scholarships Ten talented high school seniors each received a $1000 scholarship

PEOPLE

HELP ING P

EOPLE XCEED

COMMUNITYgoing the extra mile

from Xceed Financial in honor of the late Romeo Doty a dedicated board member who was also a strong proponent of making higher education accessible for all students

10

driving MEMBER SATISFACTION

Our members the people who own the Credit Union are the reason we exist Throughout the year we keep the pedal to the metal working to offer top-quality products deliver exceptional personal service and show members that theyrsquore always in the driverrsquos seat at Xceed Financial

Making Our Fans Happy Our efforts to give members great products at a great value showed up in our member satisfaction surveys More than 90 of those surveyed during 2013 told us they were either ldquoSatisfedrdquo or ldquoVery Satisfedrdquo with their credit union but wersquore shooting for 100

Member Appreciation Day We declared Member Appreciation Day in March honoring the members who joined us last year when we welcomed Safeway Los Angeles Federal Credit Union to the Xceed family Celebrating with food fun and prizes at the Firestone Financial Center (formerly the Safeway branch) we also staged a drawing that let one lucky member walk away with an iPad mini

Refer a Friend The great deals our members get are too good to keep to ourselves In 2013 we staged referral sweepstakes events that gave members more encouragement to spread the word about Credit Union membership Each time a member referred a friend family member or colleague they were automatically entered to win a $500 Visa gift card Congratulations to our members Jaime Parkinson Natasha Chilingerian and Carol Edwardshellipand to the many friends who are now enjoying way better deals on savings and loans than they got with their old banks

11

fnancials CONSOLIDATED STATEMENT OF INCOME

Unaudited Financial Statements 123113

INTEREST INCOME 2013

Total Interest on Loans $29201330

Total Interest on Investments 682491

TOTAL INTEREST INCOME $29883821

INTEREST EXPENSE

Total Dividends on Member Savings $3511002

Other Interest Expense 778839

TOTAL INTEREST EXPENSE

NET INTEREST INCOME

PROVISION FOR LOAN LOSSES

$4289841

$25593980

-$275000

NET INTEREST INCOME AFTER PROVISION

NON-INTEREST INCOME

Fee Income

Other Operating Income

$25868980

$3394223

3267766

TOTAL NON-INTEREST INCOME

NON-INTEREST EXPENSE

Salaries and Benefts

Other Expenses

$6661989

$16771209

17004950

TOTAL NON-INTEREST EXPENSE

Total Non-Operating Income(Expense)

NCUSIF share insurance premium amp Temporary

Corporate Credit Union Stabilization Expenses

$33776159

3086343

524326

NCUA amp Stabilization Expenses $1841153

NET INCOME $1316827

12

fnancials CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

Unaudited Financial Statements 123113

ASSETS 2013

Net Loans $686921760

Cash 36613701

Total Investments 21631487

Other Assets 61822603

TOTAL ASSETS $806989551

LIABILITIES amp MEMBERSrsquo EQUITY

LIABILITIES

Notes Payable $58000000

Other Liabilities 6530576

TOTAL LIABILITIES $64530576

MEMBERSrsquo EQUITY

Member Savings $664012199

Non-Member Savings 0

TOTAL SAVINGS 664012199

NET EQUITY 78446776

TOTAL LIABILITIES amp EQUITY $806989551

For the independent auditorrsquos report and opinion please visit our website at xfcuorg or contact us at 800XFCU222

13

employer group EXCURSIONS

Members are busy Sometimes the best way to help them chart a course for reaching their fnancial goals is to come to them where they spend most of their timemdashthe workplace So throughout the year our associates logged the miles visiting our employer group partners and supporting events that are important to them Here are just a few points of interest along the way

Lower Your Payment Members at Wyndham Worldwide drove off with major auto loan savings when we staged a 10-day Lower Your Payment campaign at the companyrsquos headquarters We guaranteed Wyndham associates that if they switched their auto loans to Xceed Financial we would lower their auto loan paymentshellip or give them $50 The event saved Wyndham associates more than $40000 over the lives of their loans

Xerox Diversity Groups Wersquove been proud travel companions with Xerox Corporationrsquos diversity groups for more years than we can count In 2013 we continued to support their aspirations through sponsorships of the Black Womenrsquos Leadership Council (BWLC) Hispanic Association for Professional Advancement (HAPA) and a strong presence at The Womenrsquos Alliance (TWA) International Conference that included one-on-one sessions with Xceed Money Coaches

Easter Seals ldquoWalk with Merdquo We love a good cause and in 2013 we welcomed a great one ndash Easter Seals ndash to the Xceed Financial family To celebrate our associates participated in Easter Sealsrsquo Walk with Me event to raise awareness and support for families living with disabilities We added to the festivities with an attention-getting raffe and lots of fun giveaways

iXceed Fiscal Fitness Challenges This friendly competition in which members compete to increase savings and reduce debt ndash and win a $1000 cash prize ndash grows more popular every year This past year we organized iXceed events with Wyndham Worldwide and The Womenrsquos Alliance (TWA) as well as Xceed Financial associates Cheers to our winners Denise Chrin Brenda Cosimar and Czarina Rojas

5

touring WITH TECHNOLOGY

Xceed Mobile Deposit

Xceed Online

Xceed Mobile

App

Vme from

VISAreg

Many of our employer group partners are well-known technology innovators so of course we have to make sure we deliver the latest industry-leading stuff to make our membersrsquo fnancial lives easier In 2013 it was all about going mobile with new features and capabilities that let members take their credit union with themhellipwherever their journeys led

Xceed Mobile Deposit When we launched Xceed Mobile Deposit (XMD) this past year we really put the Credit Union in our membersrsquo pockets like never before A feature within the Xceed Mobile app XMD allows iPhone iPad or Android users to snap a photo of a paper check and send it to us Since members must log-in to their mobile accounts to use the service itrsquos as secure as online banking

Xceed Mobile App Whether members were addicted to Android or diehard for iPhone or iPad we constantly tweaked our mobile apps to give them a better experience We completed our mobile app portfolio by rolling-out an app for Android-based tablets containing all the functionality of the iPad app as well as the capability to open new accounts and apply for loans

Vme from VISAreg

Just in time for the holiday shopping season we introduced members to our new ldquodigital walletrdquo Available at no cost to members it can help them speed through online checkout while protecting debit and credit card information

Xceed Online We came pretty close to making it fun to pay bills with a redesigned bill pay page that rocks a sleek new look and has lots more intuitive features to get the job done faster and easier We also made it simpler for members to manage their Xceed Financial Visareg with a new credit card page that lets them schedule payments set up alerts and notify us of upcoming travel plans for example as well as download account activities and statements to Quicken QuickBooks and Money

6

roadmap FOR INVESTING

HEALTHCARE

Cost Plannin

g

AFFORD ABLE

COLLEGE

MA

KIN

G

+LONG-TERM CAREI NSURANCE

Itrsquos easy to take a wrong turn and get side-tracked on the road to retirement Our Investment Services group provides savvy guidance to help members map out sound customized strategies to achieve their fnancial goals

Thatrsquos one of the great things about Xceed Financial membershipmdash whether yoursquore just starting out or an experienced investor our seasoned Financial Consultants can help you prepare for lifersquos milestones

One of the ways we do this is by hosting ldquoLunch and Learnrdquo seminars at employer group workplaces and evening seminars at our Financial Centers Throughout 2013 these events were well-attended by members and their families who learned about topics like

bull Healthcare Cost Planning

bull Long-Term Care Insurance

bull Family Asset Management

bull Making College Affordable

bull Social Security Beneft Strategies

bull Ensuring Sustainable Income During Retirement

bull Innovative Investment Strategies

bull Past Present and Future for Investing

Itrsquos pretty clear that members like the fnancial education personal service and independent advice they get from Xceed Financial Consultants Last year the Investment Services group far surpassed even our high expectations adding $282 million in assets under management

SOCI

AL SECURITY

BENE FI T STR A

7

driving AWAY WITH SAVINGS

When we noticed that quite a few Xceed Financial members were missing out on the great deals the Credit Union offers on loans we had to pull over and see if we could fx that situation Throughout the year we invited members to get behind the wheel take out personal loans transfer credit card balances and tap the equity in their homes with super attractive rates and terms

Beat Your Ratehellipby up to 2 We helped members save big over the lives of their auto and personal loans and lines of credit with our ldquoBeat Your Raterdquo campaign Depending on the rate they had with another lender we offered rate reductions of up to 2 when members refnanced those loans with the Credit Union

A Better Credit Card In 2013 we made the Xceed Platinum Visareg credit card an even better value with balance transfer promotions that encouraged members to ditch high-interest cards and better manage their credit card debt by transferring their balances to our card

Letting Your Home Pay You This past year members in many parts of the country saw their home values increase We all cheered that news And we one-upped it by making it affordable for members to tap their equity with low-rate home equity loans and Home Equity Lines of Credit (HELOCs)

$ $$$$

$ 8

points OF INTEREST

Whether yoursquore running a small business or putting money aside for the down payment on a home when it comes to reaching savings goals there really are no shortcuts So in 2013 we helped all members get a better return on the money they set aside and worked with business members to ramp up their fscal ftness

Share Certifcates With both shorter and longer term options and excellent dividend rates the Credit Unionrsquos share certifcates shifted both consumer member and business member savings into high gear

Affordable Care Act The Affordable Care Act has caused concern for a lot of small business owners who were unsure about how the law might affect them We helped our Rochester-area business members prepare for the new health care lawrsquos requirements with a seminar at our Pittsford Financial Center

Small Business Week At Xceed Financial small business is a very big deal We showed our support for the people who own and work for those engines of economic growth by celebrating Small Business Week June 17-21

SOHO Expo When Rochesterrsquos entrepreneurs gathered for the Small Offce Home Offce (SOHO) Expo our Business Bankers were on hand to share how the Credit Union can help them start or grow their businesses

9

venturing out INTO THE COMMUNITY

Credit unions are all about ldquopeople helping peoplerdquo and for Xceed Financial that also means going the extra mile for our community In 2013 we led and participated in numerous events to raise funds for charity and raise awareness about causes that are important to our members Here are just a few highlights

Take Our Daughters and Sons to Work Day Who counts the money How can I get rich The more than 150 children who visited Financial Centers and our corporate headquarters got answers to those questions and more at Take Our Daughters and Sons to Work Dayreg Those who visited corporate headquarters also got a visit from Numbers Guy Xceedrsquos fnancial superhero and a peek inside the vault at the nearby Douglas Financial Center

Childrenrsquos Miracle Network Hospitals All year long associates companywide organized and supported local and national events raising $46232 in support of our charity of choicemdashChildrenrsquos Miracle Network Hospitals These included the 3rd Annual SACTOWN Ten-Mile Run in Sacramento California Happy Hour for a Cause in El Segundo California and Lunch for a Cause at El Segundo Headquarters which featured an In-N-Out burger truck raffe and visit from Numbers Guy We even cooked for the cause hosting bake sales to raise money

Romeo Doty Scholarships Ten talented high school seniors each received a $1000 scholarship

PEOPLE

HELP ING P

EOPLE XCEED

COMMUNITYgoing the extra mile

from Xceed Financial in honor of the late Romeo Doty a dedicated board member who was also a strong proponent of making higher education accessible for all students

10

driving MEMBER SATISFACTION

Our members the people who own the Credit Union are the reason we exist Throughout the year we keep the pedal to the metal working to offer top-quality products deliver exceptional personal service and show members that theyrsquore always in the driverrsquos seat at Xceed Financial

Making Our Fans Happy Our efforts to give members great products at a great value showed up in our member satisfaction surveys More than 90 of those surveyed during 2013 told us they were either ldquoSatisfedrdquo or ldquoVery Satisfedrdquo with their credit union but wersquore shooting for 100

Member Appreciation Day We declared Member Appreciation Day in March honoring the members who joined us last year when we welcomed Safeway Los Angeles Federal Credit Union to the Xceed family Celebrating with food fun and prizes at the Firestone Financial Center (formerly the Safeway branch) we also staged a drawing that let one lucky member walk away with an iPad mini

Refer a Friend The great deals our members get are too good to keep to ourselves In 2013 we staged referral sweepstakes events that gave members more encouragement to spread the word about Credit Union membership Each time a member referred a friend family member or colleague they were automatically entered to win a $500 Visa gift card Congratulations to our members Jaime Parkinson Natasha Chilingerian and Carol Edwardshellipand to the many friends who are now enjoying way better deals on savings and loans than they got with their old banks

11

fnancials CONSOLIDATED STATEMENT OF INCOME

Unaudited Financial Statements 123113

INTEREST INCOME 2013

Total Interest on Loans $29201330

Total Interest on Investments 682491

TOTAL INTEREST INCOME $29883821

INTEREST EXPENSE

Total Dividends on Member Savings $3511002

Other Interest Expense 778839

TOTAL INTEREST EXPENSE

NET INTEREST INCOME

PROVISION FOR LOAN LOSSES

$4289841

$25593980

-$275000

NET INTEREST INCOME AFTER PROVISION

NON-INTEREST INCOME

Fee Income

Other Operating Income

$25868980

$3394223

3267766

TOTAL NON-INTEREST INCOME

NON-INTEREST EXPENSE

Salaries and Benefts

Other Expenses

$6661989

$16771209

17004950

TOTAL NON-INTEREST EXPENSE

Total Non-Operating Income(Expense)

NCUSIF share insurance premium amp Temporary

Corporate Credit Union Stabilization Expenses

$33776159

3086343

524326

NCUA amp Stabilization Expenses $1841153

NET INCOME $1316827

12

fnancials CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

Unaudited Financial Statements 123113

ASSETS 2013

Net Loans $686921760

Cash 36613701

Total Investments 21631487

Other Assets 61822603

TOTAL ASSETS $806989551

LIABILITIES amp MEMBERSrsquo EQUITY

LIABILITIES

Notes Payable $58000000

Other Liabilities 6530576

TOTAL LIABILITIES $64530576

MEMBERSrsquo EQUITY

Member Savings $664012199

Non-Member Savings 0

TOTAL SAVINGS 664012199

NET EQUITY 78446776

TOTAL LIABILITIES amp EQUITY $806989551

For the independent auditorrsquos report and opinion please visit our website at xfcuorg or contact us at 800XFCU222

13

touring WITH TECHNOLOGY

Xceed Mobile Deposit

Xceed Online

Xceed Mobile

App

Vme from

VISAreg

Many of our employer group partners are well-known technology innovators so of course we have to make sure we deliver the latest industry-leading stuff to make our membersrsquo fnancial lives easier In 2013 it was all about going mobile with new features and capabilities that let members take their credit union with themhellipwherever their journeys led

Xceed Mobile Deposit When we launched Xceed Mobile Deposit (XMD) this past year we really put the Credit Union in our membersrsquo pockets like never before A feature within the Xceed Mobile app XMD allows iPhone iPad or Android users to snap a photo of a paper check and send it to us Since members must log-in to their mobile accounts to use the service itrsquos as secure as online banking

Xceed Mobile App Whether members were addicted to Android or diehard for iPhone or iPad we constantly tweaked our mobile apps to give them a better experience We completed our mobile app portfolio by rolling-out an app for Android-based tablets containing all the functionality of the iPad app as well as the capability to open new accounts and apply for loans

Vme from VISAreg

Just in time for the holiday shopping season we introduced members to our new ldquodigital walletrdquo Available at no cost to members it can help them speed through online checkout while protecting debit and credit card information

Xceed Online We came pretty close to making it fun to pay bills with a redesigned bill pay page that rocks a sleek new look and has lots more intuitive features to get the job done faster and easier We also made it simpler for members to manage their Xceed Financial Visareg with a new credit card page that lets them schedule payments set up alerts and notify us of upcoming travel plans for example as well as download account activities and statements to Quicken QuickBooks and Money

6

roadmap FOR INVESTING

HEALTHCARE

Cost Plannin

g

AFFORD ABLE

COLLEGE

MA

KIN

G

+LONG-TERM CAREI NSURANCE

Itrsquos easy to take a wrong turn and get side-tracked on the road to retirement Our Investment Services group provides savvy guidance to help members map out sound customized strategies to achieve their fnancial goals

Thatrsquos one of the great things about Xceed Financial membershipmdash whether yoursquore just starting out or an experienced investor our seasoned Financial Consultants can help you prepare for lifersquos milestones

One of the ways we do this is by hosting ldquoLunch and Learnrdquo seminars at employer group workplaces and evening seminars at our Financial Centers Throughout 2013 these events were well-attended by members and their families who learned about topics like

bull Healthcare Cost Planning

bull Long-Term Care Insurance

bull Family Asset Management

bull Making College Affordable

bull Social Security Beneft Strategies

bull Ensuring Sustainable Income During Retirement

bull Innovative Investment Strategies

bull Past Present and Future for Investing

Itrsquos pretty clear that members like the fnancial education personal service and independent advice they get from Xceed Financial Consultants Last year the Investment Services group far surpassed even our high expectations adding $282 million in assets under management

SOCI

AL SECURITY

BENE FI T STR A

7

driving AWAY WITH SAVINGS

When we noticed that quite a few Xceed Financial members were missing out on the great deals the Credit Union offers on loans we had to pull over and see if we could fx that situation Throughout the year we invited members to get behind the wheel take out personal loans transfer credit card balances and tap the equity in their homes with super attractive rates and terms

Beat Your Ratehellipby up to 2 We helped members save big over the lives of their auto and personal loans and lines of credit with our ldquoBeat Your Raterdquo campaign Depending on the rate they had with another lender we offered rate reductions of up to 2 when members refnanced those loans with the Credit Union

A Better Credit Card In 2013 we made the Xceed Platinum Visareg credit card an even better value with balance transfer promotions that encouraged members to ditch high-interest cards and better manage their credit card debt by transferring their balances to our card

Letting Your Home Pay You This past year members in many parts of the country saw their home values increase We all cheered that news And we one-upped it by making it affordable for members to tap their equity with low-rate home equity loans and Home Equity Lines of Credit (HELOCs)

$ $$$$

$ 8

points OF INTEREST

Whether yoursquore running a small business or putting money aside for the down payment on a home when it comes to reaching savings goals there really are no shortcuts So in 2013 we helped all members get a better return on the money they set aside and worked with business members to ramp up their fscal ftness

Share Certifcates With both shorter and longer term options and excellent dividend rates the Credit Unionrsquos share certifcates shifted both consumer member and business member savings into high gear

Affordable Care Act The Affordable Care Act has caused concern for a lot of small business owners who were unsure about how the law might affect them We helped our Rochester-area business members prepare for the new health care lawrsquos requirements with a seminar at our Pittsford Financial Center

Small Business Week At Xceed Financial small business is a very big deal We showed our support for the people who own and work for those engines of economic growth by celebrating Small Business Week June 17-21

SOHO Expo When Rochesterrsquos entrepreneurs gathered for the Small Offce Home Offce (SOHO) Expo our Business Bankers were on hand to share how the Credit Union can help them start or grow their businesses

9

venturing out INTO THE COMMUNITY

Credit unions are all about ldquopeople helping peoplerdquo and for Xceed Financial that also means going the extra mile for our community In 2013 we led and participated in numerous events to raise funds for charity and raise awareness about causes that are important to our members Here are just a few highlights

Take Our Daughters and Sons to Work Day Who counts the money How can I get rich The more than 150 children who visited Financial Centers and our corporate headquarters got answers to those questions and more at Take Our Daughters and Sons to Work Dayreg Those who visited corporate headquarters also got a visit from Numbers Guy Xceedrsquos fnancial superhero and a peek inside the vault at the nearby Douglas Financial Center

Childrenrsquos Miracle Network Hospitals All year long associates companywide organized and supported local and national events raising $46232 in support of our charity of choicemdashChildrenrsquos Miracle Network Hospitals These included the 3rd Annual SACTOWN Ten-Mile Run in Sacramento California Happy Hour for a Cause in El Segundo California and Lunch for a Cause at El Segundo Headquarters which featured an In-N-Out burger truck raffe and visit from Numbers Guy We even cooked for the cause hosting bake sales to raise money

Romeo Doty Scholarships Ten talented high school seniors each received a $1000 scholarship

PEOPLE

HELP ING P

EOPLE XCEED

COMMUNITYgoing the extra mile

from Xceed Financial in honor of the late Romeo Doty a dedicated board member who was also a strong proponent of making higher education accessible for all students

10

driving MEMBER SATISFACTION

Our members the people who own the Credit Union are the reason we exist Throughout the year we keep the pedal to the metal working to offer top-quality products deliver exceptional personal service and show members that theyrsquore always in the driverrsquos seat at Xceed Financial

Making Our Fans Happy Our efforts to give members great products at a great value showed up in our member satisfaction surveys More than 90 of those surveyed during 2013 told us they were either ldquoSatisfedrdquo or ldquoVery Satisfedrdquo with their credit union but wersquore shooting for 100

Member Appreciation Day We declared Member Appreciation Day in March honoring the members who joined us last year when we welcomed Safeway Los Angeles Federal Credit Union to the Xceed family Celebrating with food fun and prizes at the Firestone Financial Center (formerly the Safeway branch) we also staged a drawing that let one lucky member walk away with an iPad mini

Refer a Friend The great deals our members get are too good to keep to ourselves In 2013 we staged referral sweepstakes events that gave members more encouragement to spread the word about Credit Union membership Each time a member referred a friend family member or colleague they were automatically entered to win a $500 Visa gift card Congratulations to our members Jaime Parkinson Natasha Chilingerian and Carol Edwardshellipand to the many friends who are now enjoying way better deals on savings and loans than they got with their old banks

11

fnancials CONSOLIDATED STATEMENT OF INCOME

Unaudited Financial Statements 123113

INTEREST INCOME 2013

Total Interest on Loans $29201330

Total Interest on Investments 682491

TOTAL INTEREST INCOME $29883821

INTEREST EXPENSE

Total Dividends on Member Savings $3511002

Other Interest Expense 778839

TOTAL INTEREST EXPENSE

NET INTEREST INCOME

PROVISION FOR LOAN LOSSES

$4289841

$25593980

-$275000

NET INTEREST INCOME AFTER PROVISION

NON-INTEREST INCOME

Fee Income

Other Operating Income

$25868980

$3394223

3267766

TOTAL NON-INTEREST INCOME

NON-INTEREST EXPENSE

Salaries and Benefts

Other Expenses

$6661989

$16771209

17004950

TOTAL NON-INTEREST EXPENSE

Total Non-Operating Income(Expense)

NCUSIF share insurance premium amp Temporary

Corporate Credit Union Stabilization Expenses

$33776159

3086343

524326

NCUA amp Stabilization Expenses $1841153

NET INCOME $1316827

12

fnancials CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

Unaudited Financial Statements 123113

ASSETS 2013

Net Loans $686921760

Cash 36613701

Total Investments 21631487

Other Assets 61822603

TOTAL ASSETS $806989551

LIABILITIES amp MEMBERSrsquo EQUITY

LIABILITIES

Notes Payable $58000000

Other Liabilities 6530576

TOTAL LIABILITIES $64530576

MEMBERSrsquo EQUITY

Member Savings $664012199

Non-Member Savings 0

TOTAL SAVINGS 664012199

NET EQUITY 78446776

TOTAL LIABILITIES amp EQUITY $806989551

For the independent auditorrsquos report and opinion please visit our website at xfcuorg or contact us at 800XFCU222

13

roadmap FOR INVESTING

HEALTHCARE

Cost Plannin

g

AFFORD ABLE

COLLEGE

MA

KIN

G

+LONG-TERM CAREI NSURANCE

Itrsquos easy to take a wrong turn and get side-tracked on the road to retirement Our Investment Services group provides savvy guidance to help members map out sound customized strategies to achieve their fnancial goals

Thatrsquos one of the great things about Xceed Financial membershipmdash whether yoursquore just starting out or an experienced investor our seasoned Financial Consultants can help you prepare for lifersquos milestones

One of the ways we do this is by hosting ldquoLunch and Learnrdquo seminars at employer group workplaces and evening seminars at our Financial Centers Throughout 2013 these events were well-attended by members and their families who learned about topics like

bull Healthcare Cost Planning

bull Long-Term Care Insurance

bull Family Asset Management

bull Making College Affordable

bull Social Security Beneft Strategies

bull Ensuring Sustainable Income During Retirement

bull Innovative Investment Strategies

bull Past Present and Future for Investing

Itrsquos pretty clear that members like the fnancial education personal service and independent advice they get from Xceed Financial Consultants Last year the Investment Services group far surpassed even our high expectations adding $282 million in assets under management

SOCI

AL SECURITY

BENE FI T STR A

7

driving AWAY WITH SAVINGS

When we noticed that quite a few Xceed Financial members were missing out on the great deals the Credit Union offers on loans we had to pull over and see if we could fx that situation Throughout the year we invited members to get behind the wheel take out personal loans transfer credit card balances and tap the equity in their homes with super attractive rates and terms

Beat Your Ratehellipby up to 2 We helped members save big over the lives of their auto and personal loans and lines of credit with our ldquoBeat Your Raterdquo campaign Depending on the rate they had with another lender we offered rate reductions of up to 2 when members refnanced those loans with the Credit Union

A Better Credit Card In 2013 we made the Xceed Platinum Visareg credit card an even better value with balance transfer promotions that encouraged members to ditch high-interest cards and better manage their credit card debt by transferring their balances to our card

Letting Your Home Pay You This past year members in many parts of the country saw their home values increase We all cheered that news And we one-upped it by making it affordable for members to tap their equity with low-rate home equity loans and Home Equity Lines of Credit (HELOCs)

$ $$$$

$ 8

points OF INTEREST

Whether yoursquore running a small business or putting money aside for the down payment on a home when it comes to reaching savings goals there really are no shortcuts So in 2013 we helped all members get a better return on the money they set aside and worked with business members to ramp up their fscal ftness

Share Certifcates With both shorter and longer term options and excellent dividend rates the Credit Unionrsquos share certifcates shifted both consumer member and business member savings into high gear

Affordable Care Act The Affordable Care Act has caused concern for a lot of small business owners who were unsure about how the law might affect them We helped our Rochester-area business members prepare for the new health care lawrsquos requirements with a seminar at our Pittsford Financial Center

Small Business Week At Xceed Financial small business is a very big deal We showed our support for the people who own and work for those engines of economic growth by celebrating Small Business Week June 17-21

SOHO Expo When Rochesterrsquos entrepreneurs gathered for the Small Offce Home Offce (SOHO) Expo our Business Bankers were on hand to share how the Credit Union can help them start or grow their businesses

9

venturing out INTO THE COMMUNITY

Credit unions are all about ldquopeople helping peoplerdquo and for Xceed Financial that also means going the extra mile for our community In 2013 we led and participated in numerous events to raise funds for charity and raise awareness about causes that are important to our members Here are just a few highlights

Take Our Daughters and Sons to Work Day Who counts the money How can I get rich The more than 150 children who visited Financial Centers and our corporate headquarters got answers to those questions and more at Take Our Daughters and Sons to Work Dayreg Those who visited corporate headquarters also got a visit from Numbers Guy Xceedrsquos fnancial superhero and a peek inside the vault at the nearby Douglas Financial Center

Childrenrsquos Miracle Network Hospitals All year long associates companywide organized and supported local and national events raising $46232 in support of our charity of choicemdashChildrenrsquos Miracle Network Hospitals These included the 3rd Annual SACTOWN Ten-Mile Run in Sacramento California Happy Hour for a Cause in El Segundo California and Lunch for a Cause at El Segundo Headquarters which featured an In-N-Out burger truck raffe and visit from Numbers Guy We even cooked for the cause hosting bake sales to raise money

Romeo Doty Scholarships Ten talented high school seniors each received a $1000 scholarship

PEOPLE

HELP ING P

EOPLE XCEED

COMMUNITYgoing the extra mile

from Xceed Financial in honor of the late Romeo Doty a dedicated board member who was also a strong proponent of making higher education accessible for all students

10

driving MEMBER SATISFACTION

Our members the people who own the Credit Union are the reason we exist Throughout the year we keep the pedal to the metal working to offer top-quality products deliver exceptional personal service and show members that theyrsquore always in the driverrsquos seat at Xceed Financial

Making Our Fans Happy Our efforts to give members great products at a great value showed up in our member satisfaction surveys More than 90 of those surveyed during 2013 told us they were either ldquoSatisfedrdquo or ldquoVery Satisfedrdquo with their credit union but wersquore shooting for 100

Member Appreciation Day We declared Member Appreciation Day in March honoring the members who joined us last year when we welcomed Safeway Los Angeles Federal Credit Union to the Xceed family Celebrating with food fun and prizes at the Firestone Financial Center (formerly the Safeway branch) we also staged a drawing that let one lucky member walk away with an iPad mini

Refer a Friend The great deals our members get are too good to keep to ourselves In 2013 we staged referral sweepstakes events that gave members more encouragement to spread the word about Credit Union membership Each time a member referred a friend family member or colleague they were automatically entered to win a $500 Visa gift card Congratulations to our members Jaime Parkinson Natasha Chilingerian and Carol Edwardshellipand to the many friends who are now enjoying way better deals on savings and loans than they got with their old banks

11

fnancials CONSOLIDATED STATEMENT OF INCOME

Unaudited Financial Statements 123113

INTEREST INCOME 2013

Total Interest on Loans $29201330

Total Interest on Investments 682491

TOTAL INTEREST INCOME $29883821

INTEREST EXPENSE

Total Dividends on Member Savings $3511002

Other Interest Expense 778839

TOTAL INTEREST EXPENSE

NET INTEREST INCOME

PROVISION FOR LOAN LOSSES

$4289841

$25593980

-$275000

NET INTEREST INCOME AFTER PROVISION

NON-INTEREST INCOME

Fee Income

Other Operating Income

$25868980

$3394223

3267766

TOTAL NON-INTEREST INCOME

NON-INTEREST EXPENSE

Salaries and Benefts

Other Expenses

$6661989

$16771209

17004950

TOTAL NON-INTEREST EXPENSE

Total Non-Operating Income(Expense)

NCUSIF share insurance premium amp Temporary

Corporate Credit Union Stabilization Expenses

$33776159

3086343

524326

NCUA amp Stabilization Expenses $1841153

NET INCOME $1316827

12

fnancials CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

Unaudited Financial Statements 123113

ASSETS 2013

Net Loans $686921760

Cash 36613701

Total Investments 21631487

Other Assets 61822603

TOTAL ASSETS $806989551

LIABILITIES amp MEMBERSrsquo EQUITY

LIABILITIES

Notes Payable $58000000

Other Liabilities 6530576

TOTAL LIABILITIES $64530576

MEMBERSrsquo EQUITY

Member Savings $664012199

Non-Member Savings 0

TOTAL SAVINGS 664012199

NET EQUITY 78446776

TOTAL LIABILITIES amp EQUITY $806989551

For the independent auditorrsquos report and opinion please visit our website at xfcuorg or contact us at 800XFCU222

13

driving AWAY WITH SAVINGS

When we noticed that quite a few Xceed Financial members were missing out on the great deals the Credit Union offers on loans we had to pull over and see if we could fx that situation Throughout the year we invited members to get behind the wheel take out personal loans transfer credit card balances and tap the equity in their homes with super attractive rates and terms

Beat Your Ratehellipby up to 2 We helped members save big over the lives of their auto and personal loans and lines of credit with our ldquoBeat Your Raterdquo campaign Depending on the rate they had with another lender we offered rate reductions of up to 2 when members refnanced those loans with the Credit Union

A Better Credit Card In 2013 we made the Xceed Platinum Visareg credit card an even better value with balance transfer promotions that encouraged members to ditch high-interest cards and better manage their credit card debt by transferring their balances to our card

Letting Your Home Pay You This past year members in many parts of the country saw their home values increase We all cheered that news And we one-upped it by making it affordable for members to tap their equity with low-rate home equity loans and Home Equity Lines of Credit (HELOCs)

$ $$$$

$ 8

points OF INTEREST

Whether yoursquore running a small business or putting money aside for the down payment on a home when it comes to reaching savings goals there really are no shortcuts So in 2013 we helped all members get a better return on the money they set aside and worked with business members to ramp up their fscal ftness

Share Certifcates With both shorter and longer term options and excellent dividend rates the Credit Unionrsquos share certifcates shifted both consumer member and business member savings into high gear

Affordable Care Act The Affordable Care Act has caused concern for a lot of small business owners who were unsure about how the law might affect them We helped our Rochester-area business members prepare for the new health care lawrsquos requirements with a seminar at our Pittsford Financial Center

Small Business Week At Xceed Financial small business is a very big deal We showed our support for the people who own and work for those engines of economic growth by celebrating Small Business Week June 17-21

SOHO Expo When Rochesterrsquos entrepreneurs gathered for the Small Offce Home Offce (SOHO) Expo our Business Bankers were on hand to share how the Credit Union can help them start or grow their businesses

9

venturing out INTO THE COMMUNITY

Credit unions are all about ldquopeople helping peoplerdquo and for Xceed Financial that also means going the extra mile for our community In 2013 we led and participated in numerous events to raise funds for charity and raise awareness about causes that are important to our members Here are just a few highlights

Take Our Daughters and Sons to Work Day Who counts the money How can I get rich The more than 150 children who visited Financial Centers and our corporate headquarters got answers to those questions and more at Take Our Daughters and Sons to Work Dayreg Those who visited corporate headquarters also got a visit from Numbers Guy Xceedrsquos fnancial superhero and a peek inside the vault at the nearby Douglas Financial Center

Childrenrsquos Miracle Network Hospitals All year long associates companywide organized and supported local and national events raising $46232 in support of our charity of choicemdashChildrenrsquos Miracle Network Hospitals These included the 3rd Annual SACTOWN Ten-Mile Run in Sacramento California Happy Hour for a Cause in El Segundo California and Lunch for a Cause at El Segundo Headquarters which featured an In-N-Out burger truck raffe and visit from Numbers Guy We even cooked for the cause hosting bake sales to raise money

Romeo Doty Scholarships Ten talented high school seniors each received a $1000 scholarship

PEOPLE

HELP ING P

EOPLE XCEED

COMMUNITYgoing the extra mile

from Xceed Financial in honor of the late Romeo Doty a dedicated board member who was also a strong proponent of making higher education accessible for all students

10

driving MEMBER SATISFACTION

Our members the people who own the Credit Union are the reason we exist Throughout the year we keep the pedal to the metal working to offer top-quality products deliver exceptional personal service and show members that theyrsquore always in the driverrsquos seat at Xceed Financial

Making Our Fans Happy Our efforts to give members great products at a great value showed up in our member satisfaction surveys More than 90 of those surveyed during 2013 told us they were either ldquoSatisfedrdquo or ldquoVery Satisfedrdquo with their credit union but wersquore shooting for 100

Member Appreciation Day We declared Member Appreciation Day in March honoring the members who joined us last year when we welcomed Safeway Los Angeles Federal Credit Union to the Xceed family Celebrating with food fun and prizes at the Firestone Financial Center (formerly the Safeway branch) we also staged a drawing that let one lucky member walk away with an iPad mini

Refer a Friend The great deals our members get are too good to keep to ourselves In 2013 we staged referral sweepstakes events that gave members more encouragement to spread the word about Credit Union membership Each time a member referred a friend family member or colleague they were automatically entered to win a $500 Visa gift card Congratulations to our members Jaime Parkinson Natasha Chilingerian and Carol Edwardshellipand to the many friends who are now enjoying way better deals on savings and loans than they got with their old banks

11

fnancials CONSOLIDATED STATEMENT OF INCOME

Unaudited Financial Statements 123113

INTEREST INCOME 2013

Total Interest on Loans $29201330

Total Interest on Investments 682491

TOTAL INTEREST INCOME $29883821

INTEREST EXPENSE

Total Dividends on Member Savings $3511002

Other Interest Expense 778839

TOTAL INTEREST EXPENSE

NET INTEREST INCOME

PROVISION FOR LOAN LOSSES

$4289841

$25593980

-$275000

NET INTEREST INCOME AFTER PROVISION

NON-INTEREST INCOME

Fee Income

Other Operating Income

$25868980

$3394223

3267766

TOTAL NON-INTEREST INCOME

NON-INTEREST EXPENSE

Salaries and Benefts

Other Expenses

$6661989

$16771209

17004950

TOTAL NON-INTEREST EXPENSE

Total Non-Operating Income(Expense)

NCUSIF share insurance premium amp Temporary

Corporate Credit Union Stabilization Expenses

$33776159

3086343

524326

NCUA amp Stabilization Expenses $1841153

NET INCOME $1316827

12

fnancials CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

Unaudited Financial Statements 123113

ASSETS 2013

Net Loans $686921760

Cash 36613701

Total Investments 21631487

Other Assets 61822603

TOTAL ASSETS $806989551

LIABILITIES amp MEMBERSrsquo EQUITY

LIABILITIES

Notes Payable $58000000

Other Liabilities 6530576

TOTAL LIABILITIES $64530576

MEMBERSrsquo EQUITY

Member Savings $664012199

Non-Member Savings 0

TOTAL SAVINGS 664012199

NET EQUITY 78446776

TOTAL LIABILITIES amp EQUITY $806989551

For the independent auditorrsquos report and opinion please visit our website at xfcuorg or contact us at 800XFCU222

13

points OF INTEREST

Whether yoursquore running a small business or putting money aside for the down payment on a home when it comes to reaching savings goals there really are no shortcuts So in 2013 we helped all members get a better return on the money they set aside and worked with business members to ramp up their fscal ftness

Share Certifcates With both shorter and longer term options and excellent dividend rates the Credit Unionrsquos share certifcates shifted both consumer member and business member savings into high gear

Affordable Care Act The Affordable Care Act has caused concern for a lot of small business owners who were unsure about how the law might affect them We helped our Rochester-area business members prepare for the new health care lawrsquos requirements with a seminar at our Pittsford Financial Center

Small Business Week At Xceed Financial small business is a very big deal We showed our support for the people who own and work for those engines of economic growth by celebrating Small Business Week June 17-21

SOHO Expo When Rochesterrsquos entrepreneurs gathered for the Small Offce Home Offce (SOHO) Expo our Business Bankers were on hand to share how the Credit Union can help them start or grow their businesses

9

venturing out INTO THE COMMUNITY

Credit unions are all about ldquopeople helping peoplerdquo and for Xceed Financial that also means going the extra mile for our community In 2013 we led and participated in numerous events to raise funds for charity and raise awareness about causes that are important to our members Here are just a few highlights

Take Our Daughters and Sons to Work Day Who counts the money How can I get rich The more than 150 children who visited Financial Centers and our corporate headquarters got answers to those questions and more at Take Our Daughters and Sons to Work Dayreg Those who visited corporate headquarters also got a visit from Numbers Guy Xceedrsquos fnancial superhero and a peek inside the vault at the nearby Douglas Financial Center

Childrenrsquos Miracle Network Hospitals All year long associates companywide organized and supported local and national events raising $46232 in support of our charity of choicemdashChildrenrsquos Miracle Network Hospitals These included the 3rd Annual SACTOWN Ten-Mile Run in Sacramento California Happy Hour for a Cause in El Segundo California and Lunch for a Cause at El Segundo Headquarters which featured an In-N-Out burger truck raffe and visit from Numbers Guy We even cooked for the cause hosting bake sales to raise money

Romeo Doty Scholarships Ten talented high school seniors each received a $1000 scholarship

PEOPLE

HELP ING P

EOPLE XCEED

COMMUNITYgoing the extra mile

from Xceed Financial in honor of the late Romeo Doty a dedicated board member who was also a strong proponent of making higher education accessible for all students

10

driving MEMBER SATISFACTION

Our members the people who own the Credit Union are the reason we exist Throughout the year we keep the pedal to the metal working to offer top-quality products deliver exceptional personal service and show members that theyrsquore always in the driverrsquos seat at Xceed Financial

Making Our Fans Happy Our efforts to give members great products at a great value showed up in our member satisfaction surveys More than 90 of those surveyed during 2013 told us they were either ldquoSatisfedrdquo or ldquoVery Satisfedrdquo with their credit union but wersquore shooting for 100

Member Appreciation Day We declared Member Appreciation Day in March honoring the members who joined us last year when we welcomed Safeway Los Angeles Federal Credit Union to the Xceed family Celebrating with food fun and prizes at the Firestone Financial Center (formerly the Safeway branch) we also staged a drawing that let one lucky member walk away with an iPad mini

Refer a Friend The great deals our members get are too good to keep to ourselves In 2013 we staged referral sweepstakes events that gave members more encouragement to spread the word about Credit Union membership Each time a member referred a friend family member or colleague they were automatically entered to win a $500 Visa gift card Congratulations to our members Jaime Parkinson Natasha Chilingerian and Carol Edwardshellipand to the many friends who are now enjoying way better deals on savings and loans than they got with their old banks

11

fnancials CONSOLIDATED STATEMENT OF INCOME

Unaudited Financial Statements 123113

INTEREST INCOME 2013

Total Interest on Loans $29201330

Total Interest on Investments 682491

TOTAL INTEREST INCOME $29883821

INTEREST EXPENSE

Total Dividends on Member Savings $3511002

Other Interest Expense 778839

TOTAL INTEREST EXPENSE

NET INTEREST INCOME

PROVISION FOR LOAN LOSSES

$4289841

$25593980

-$275000

NET INTEREST INCOME AFTER PROVISION

NON-INTEREST INCOME

Fee Income

Other Operating Income

$25868980

$3394223

3267766

TOTAL NON-INTEREST INCOME

NON-INTEREST EXPENSE

Salaries and Benefts

Other Expenses

$6661989

$16771209

17004950

TOTAL NON-INTEREST EXPENSE

Total Non-Operating Income(Expense)

NCUSIF share insurance premium amp Temporary

Corporate Credit Union Stabilization Expenses

$33776159

3086343

524326

NCUA amp Stabilization Expenses $1841153

NET INCOME $1316827

12

fnancials CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

Unaudited Financial Statements 123113

ASSETS 2013

Net Loans $686921760

Cash 36613701

Total Investments 21631487

Other Assets 61822603

TOTAL ASSETS $806989551

LIABILITIES amp MEMBERSrsquo EQUITY

LIABILITIES

Notes Payable $58000000

Other Liabilities 6530576

TOTAL LIABILITIES $64530576

MEMBERSrsquo EQUITY

Member Savings $664012199

Non-Member Savings 0

TOTAL SAVINGS 664012199

NET EQUITY 78446776

TOTAL LIABILITIES amp EQUITY $806989551

For the independent auditorrsquos report and opinion please visit our website at xfcuorg or contact us at 800XFCU222

13

venturing out INTO THE COMMUNITY

Credit unions are all about ldquopeople helping peoplerdquo and for Xceed Financial that also means going the extra mile for our community In 2013 we led and participated in numerous events to raise funds for charity and raise awareness about causes that are important to our members Here are just a few highlights

Take Our Daughters and Sons to Work Day Who counts the money How can I get rich The more than 150 children who visited Financial Centers and our corporate headquarters got answers to those questions and more at Take Our Daughters and Sons to Work Dayreg Those who visited corporate headquarters also got a visit from Numbers Guy Xceedrsquos fnancial superhero and a peek inside the vault at the nearby Douglas Financial Center

Childrenrsquos Miracle Network Hospitals All year long associates companywide organized and supported local and national events raising $46232 in support of our charity of choicemdashChildrenrsquos Miracle Network Hospitals These included the 3rd Annual SACTOWN Ten-Mile Run in Sacramento California Happy Hour for a Cause in El Segundo California and Lunch for a Cause at El Segundo Headquarters which featured an In-N-Out burger truck raffe and visit from Numbers Guy We even cooked for the cause hosting bake sales to raise money

Romeo Doty Scholarships Ten talented high school seniors each received a $1000 scholarship

PEOPLE

HELP ING P

EOPLE XCEED

COMMUNITYgoing the extra mile

from Xceed Financial in honor of the late Romeo Doty a dedicated board member who was also a strong proponent of making higher education accessible for all students

10

driving MEMBER SATISFACTION

Our members the people who own the Credit Union are the reason we exist Throughout the year we keep the pedal to the metal working to offer top-quality products deliver exceptional personal service and show members that theyrsquore always in the driverrsquos seat at Xceed Financial

Making Our Fans Happy Our efforts to give members great products at a great value showed up in our member satisfaction surveys More than 90 of those surveyed during 2013 told us they were either ldquoSatisfedrdquo or ldquoVery Satisfedrdquo with their credit union but wersquore shooting for 100

Member Appreciation Day We declared Member Appreciation Day in March honoring the members who joined us last year when we welcomed Safeway Los Angeles Federal Credit Union to the Xceed family Celebrating with food fun and prizes at the Firestone Financial Center (formerly the Safeway branch) we also staged a drawing that let one lucky member walk away with an iPad mini

Refer a Friend The great deals our members get are too good to keep to ourselves In 2013 we staged referral sweepstakes events that gave members more encouragement to spread the word about Credit Union membership Each time a member referred a friend family member or colleague they were automatically entered to win a $500 Visa gift card Congratulations to our members Jaime Parkinson Natasha Chilingerian and Carol Edwardshellipand to the many friends who are now enjoying way better deals on savings and loans than they got with their old banks

11

fnancials CONSOLIDATED STATEMENT OF INCOME

Unaudited Financial Statements 123113

INTEREST INCOME 2013

Total Interest on Loans $29201330

Total Interest on Investments 682491

TOTAL INTEREST INCOME $29883821

INTEREST EXPENSE

Total Dividends on Member Savings $3511002

Other Interest Expense 778839

TOTAL INTEREST EXPENSE

NET INTEREST INCOME

PROVISION FOR LOAN LOSSES

$4289841

$25593980

-$275000

NET INTEREST INCOME AFTER PROVISION

NON-INTEREST INCOME

Fee Income

Other Operating Income

$25868980

$3394223

3267766

TOTAL NON-INTEREST INCOME

NON-INTEREST EXPENSE

Salaries and Benefts

Other Expenses

$6661989

$16771209

17004950

TOTAL NON-INTEREST EXPENSE

Total Non-Operating Income(Expense)

NCUSIF share insurance premium amp Temporary

Corporate Credit Union Stabilization Expenses

$33776159

3086343

524326

NCUA amp Stabilization Expenses $1841153

NET INCOME $1316827

12

fnancials CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

Unaudited Financial Statements 123113

ASSETS 2013

Net Loans $686921760

Cash 36613701

Total Investments 21631487

Other Assets 61822603

TOTAL ASSETS $806989551

LIABILITIES amp MEMBERSrsquo EQUITY

LIABILITIES

Notes Payable $58000000

Other Liabilities 6530576

TOTAL LIABILITIES $64530576

MEMBERSrsquo EQUITY

Member Savings $664012199

Non-Member Savings 0

TOTAL SAVINGS 664012199

NET EQUITY 78446776

TOTAL LIABILITIES amp EQUITY $806989551

For the independent auditorrsquos report and opinion please visit our website at xfcuorg or contact us at 800XFCU222

13

driving MEMBER SATISFACTION

Our members the people who own the Credit Union are the reason we exist Throughout the year we keep the pedal to the metal working to offer top-quality products deliver exceptional personal service and show members that theyrsquore always in the driverrsquos seat at Xceed Financial

Making Our Fans Happy Our efforts to give members great products at a great value showed up in our member satisfaction surveys More than 90 of those surveyed during 2013 told us they were either ldquoSatisfedrdquo or ldquoVery Satisfedrdquo with their credit union but wersquore shooting for 100

Member Appreciation Day We declared Member Appreciation Day in March honoring the members who joined us last year when we welcomed Safeway Los Angeles Federal Credit Union to the Xceed family Celebrating with food fun and prizes at the Firestone Financial Center (formerly the Safeway branch) we also staged a drawing that let one lucky member walk away with an iPad mini

Refer a Friend The great deals our members get are too good to keep to ourselves In 2013 we staged referral sweepstakes events that gave members more encouragement to spread the word about Credit Union membership Each time a member referred a friend family member or colleague they were automatically entered to win a $500 Visa gift card Congratulations to our members Jaime Parkinson Natasha Chilingerian and Carol Edwardshellipand to the many friends who are now enjoying way better deals on savings and loans than they got with their old banks

11

fnancials CONSOLIDATED STATEMENT OF INCOME

Unaudited Financial Statements 123113

INTEREST INCOME 2013

Total Interest on Loans $29201330

Total Interest on Investments 682491

TOTAL INTEREST INCOME $29883821

INTEREST EXPENSE

Total Dividends on Member Savings $3511002

Other Interest Expense 778839

TOTAL INTEREST EXPENSE

NET INTEREST INCOME

PROVISION FOR LOAN LOSSES

$4289841

$25593980

-$275000

NET INTEREST INCOME AFTER PROVISION

NON-INTEREST INCOME

Fee Income

Other Operating Income

$25868980

$3394223

3267766

TOTAL NON-INTEREST INCOME

NON-INTEREST EXPENSE

Salaries and Benefts

Other Expenses

$6661989

$16771209

17004950

TOTAL NON-INTEREST EXPENSE

Total Non-Operating Income(Expense)

NCUSIF share insurance premium amp Temporary

Corporate Credit Union Stabilization Expenses

$33776159

3086343

524326

NCUA amp Stabilization Expenses $1841153

NET INCOME $1316827

12

fnancials CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

Unaudited Financial Statements 123113

ASSETS 2013

Net Loans $686921760

Cash 36613701

Total Investments 21631487

Other Assets 61822603

TOTAL ASSETS $806989551

LIABILITIES amp MEMBERSrsquo EQUITY

LIABILITIES

Notes Payable $58000000

Other Liabilities 6530576

TOTAL LIABILITIES $64530576

MEMBERSrsquo EQUITY

Member Savings $664012199

Non-Member Savings 0

TOTAL SAVINGS 664012199

NET EQUITY 78446776

TOTAL LIABILITIES amp EQUITY $806989551

For the independent auditorrsquos report and opinion please visit our website at xfcuorg or contact us at 800XFCU222

13

fnancials CONSOLIDATED STATEMENT OF INCOME

Unaudited Financial Statements 123113

INTEREST INCOME 2013

Total Interest on Loans $29201330

Total Interest on Investments 682491

TOTAL INTEREST INCOME $29883821

INTEREST EXPENSE

Total Dividends on Member Savings $3511002

Other Interest Expense 778839

TOTAL INTEREST EXPENSE

NET INTEREST INCOME

PROVISION FOR LOAN LOSSES

$4289841

$25593980

-$275000

NET INTEREST INCOME AFTER PROVISION

NON-INTEREST INCOME

Fee Income

Other Operating Income

$25868980

$3394223

3267766

TOTAL NON-INTEREST INCOME

NON-INTEREST EXPENSE

Salaries and Benefts

Other Expenses

$6661989

$16771209

17004950

TOTAL NON-INTEREST EXPENSE

Total Non-Operating Income(Expense)

NCUSIF share insurance premium amp Temporary

Corporate Credit Union Stabilization Expenses

$33776159

3086343

524326

NCUA amp Stabilization Expenses $1841153

NET INCOME $1316827

12

fnancials CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

Unaudited Financial Statements 123113

ASSETS 2013

Net Loans $686921760

Cash 36613701

Total Investments 21631487

Other Assets 61822603

TOTAL ASSETS $806989551

LIABILITIES amp MEMBERSrsquo EQUITY

LIABILITIES

Notes Payable $58000000

Other Liabilities 6530576

TOTAL LIABILITIES $64530576

MEMBERSrsquo EQUITY

Member Savings $664012199

Non-Member Savings 0

TOTAL SAVINGS 664012199

NET EQUITY 78446776

TOTAL LIABILITIES amp EQUITY $806989551

For the independent auditorrsquos report and opinion please visit our website at xfcuorg or contact us at 800XFCU222

13

fnancials CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

Unaudited Financial Statements 123113

ASSETS 2013

Net Loans $686921760

Cash 36613701

Total Investments 21631487

Other Assets 61822603

TOTAL ASSETS $806989551

LIABILITIES amp MEMBERSrsquo EQUITY

LIABILITIES

Notes Payable $58000000

Other Liabilities 6530576

TOTAL LIABILITIES $64530576

MEMBERSrsquo EQUITY

Member Savings $664012199

Non-Member Savings 0

TOTAL SAVINGS 664012199

NET EQUITY 78446776

TOTAL LIABILITIES amp EQUITY $806989551

For the independent auditorrsquos report and opinion please visit our website at xfcuorg or contact us at 800XFCU222

13

BOARD OF DIRECTORSleadership

Dennis Roni Raleigh Dea Ruffner Crichton Steinbach Benson

John Judy Gretchen Buttrill Novak Valentine

OTHER VOLUNTEERS

Mark Heather Cunningham Smith

EXECUTIVE MANAGEMENT TEAM

Teresa Y Ray Mary Fabiana Freeborn Shams Roberts Burkett

14

offcers amp DIRECTORS

LEADERSHIP

COMMITTEES

Board of Directors

Dennis Ruffner Chair Roni Crichton Vice Chair Raleigh Steinbach Secretary Dea Benson John Buttrill Judy Novak Gretchen Valentine

Board of Directors

Dennis Ruffner Chair Roni Crichton Vice Chair Raleigh Steinbach Secretary Dea Benson John Buttrill Judy Novak Gretchen Valentine

Executive Committee

Dennis Ruffner Chair Roni Crichton Vice Chair Raleigh Steinbach Secretary

Executive Management Team

Teresa Y Freeborn President amp Chief Executive Ray Shams Chief Operating Offcer Mary Roberts Chief Financial Offcer Fabiana Burkett Chief Risk Offcer

Other Volunteers

Mark Cunningham Heather Smith

Supervisory Committee

Gretchen Valentine Chair Mark Cunningham Heather Smith

Nominating Committee

Raleigh Steinbach Chair Dea Benson Dennis Ruffner

Finance amp Investment Committee

John Buttrill Chair Dea Benson Judy Novak

15

Select Employer Groups bull Xerox -Rochester bull Xerox - Fuji bull Aero Wheel and Brake Service bull Air Tahiti Nui bull Airport Center Family Dental Offce bull Associated Health Professionals Inc AvisBudget Group Inc CA bull Avnet Inc bull Bell Industries bull Cee Baileyrsquos Aircraft Plastics bull Centinela Hospital Medical Center bull Consolidators International bull Costco Wholesale bull Desser Tire amp Rubber Company Equant Inc bull Hacienda Hotel bull Hankyu International bull HITCO Carbon Composites Inc bull Kerlan-Jobe Orthopaedic Clinic bull Peterson Spinning amp Stamping bull Platinum Healthcare Staffng Inc Q-TECH Corporation bull Radisson Hotel LAX bull Radisson Hotel Westside bull RETRAN bull Signature Escrow bull Sodexho Health Care Services bull Sousa Court Reporters bull The Bus Service Center The COMDYN Group Inc bull Trans Group Express bull Transport Drivers Inc bull Travelodge Hotel bull UIW- United Industrial Workers bull The Queen Mary bull Vivitar Corporation bull Vivitar Security Systems Westside Childrenrsquos Center bull Sizzler USA Inc bull All Transport Packing bull Cooke Center for Learning amp Development bull Federation of Catholic Teachers bull Franklen Glass bull Faith Missions Crisis Rehab Center Greater Ridgewood Youth Council bull China Airlines Bldg 76 bull H amp M Brokerage bull Halmar AMB Cargo Ctr - Multi Tenant bull New York Racing Association bull North American Airlines bull Marsh Corporation Meikle Automation bull Condor Electronics Corporation bull Comforce Information Tech bull Cision INC bull Heberle Disposal Service Inc bull Tanksley Group bull Airpot Corporation bull AvisBudget Group- NJ CDI Corporation bull Johnson Controls Inc bull Xerox Sales AgentOwners bull Inference Corporation bull Industrial Indemnity bull Alliance Precision Plastics bull Aramark bull Leo J Roth Corporation Rochester Davis-Fetch Corp bull Printing by Design bull Nesco ResourceLehigh Design bull Technisource bull Whitenack Consulting Inc bull Ajilon bull HighSoft Inc bull P amp R Industries bull Arthur J Rogers amp Co Arnold Magnetic Technologies bull Light Fabrications bull Nordon Tool amp Mold Inc bull Gupta Technologies bull Tapecon Inc bull The Pike Company Inc bull Mercury Print Productions Inc bull Hazlow Electronics Canfeld amp Tack bull Gillette Machine and Tool Co Inc bull Masline Electronics bull Connors-Haas Inc bull Rogers Assoc Machine Tool Corp bull RP Fedder Corporation bull Boulter Rigging Corp Postler amp Jaeckle Corp bull ACE bull Crum and Forster Corporation bull Zeller Corporation bull Woodcliff The Lodge bull Horizon Solutions bull Securitas (Formerly Pinkerton Security) bull Computer Aid Inc bull Ciber Inc Accustaff bull Superior Tech ResourcesSuperior Staffng bull Dartnell Enterprises Inc (DEI) bull New line Noosh bull Adecco bull Croop-LaFrance Inc bull Weyerhaeuser bull Ultrafab Inc bull FSH Delivery Service Inc OffceMax - Naperville IL bull Advantage Human Resourcing bull Allstate bull Spectra Services Inc bull Securitas (Formerly Pinkerton - Rochester) bull Tucker Printers bull Sierra Systems bull Seneca Park Zoo Society Dynalab Corp bull Xerox Capital Services bull Allworx bull Velocity Networks bull Gerber Collision and Glass bull Standard Data Corporation bull NHA (National healthcareer Association) bull Advance High-Tech Corporation (AHT) Stanford MU Corporation bull Tree Musketeers bull Decision One bull Trident Precision Manufacturing bull Heal The Bay bull Friends of the Webster Public Library bull Buffalo Zoo bull St Joseph Catholic Church J Roberts Scott Inc bull St Josephrsquos Villa of Rochester bull Glovia International bull Praxair bull Charter Partners bull Nippon Express bull SD amp A Teleservices Inc bull Guidemark Inc bull Underserved - Lewisville Underserved - Farmerrsquos Branch Carrollton bull Underserved - St Petersburg bull Underserved - Rosemont bull Underserved - Irving bull Underserved - Dallas bull Underserved - Rochester bull Underserved - San Jose Paradigm Engineering Ltd bull Fairport Baptist Home bull Realogy bull TRG - Realogy bull Travelport bull Wyndham Worldwide bull Broccolo Tree amp Lawn Care bull Davidson Fink LLP bull Isaac Heating amp Air Conditioning Monroe Veterinary Associates(Animal Hos of Pitts) bull SIGMA Marketing Group bull Hyatt Regency Rochester bull Bryant amp Stratton College bull Manpower bull Raytec Group bull West Coast Escrow bull Securitas Barkley Court Reporters bull WXXI Public Broadcasting Council bull Hoselton Auto Mall bull Ignited bull Web Title Agency bull Davie Kaplan CPA PC bull Pulsafeeder Inc bull The Friendly Home bull St Annrsquos Community bull Penske Cadillac Hummer South Bay bull Medical Motor Service bull Time Warner Cable bull Rene Isip Toyota of Lewisville bull IEC Electronics Wire and Cable Inc bull Global Imaging Systems Inc Airport Suzuki bull Lewisville Mitsubishi bull Southwest Kia bull Precision Dialing Services bull Lockton Insurance Brokers LLC bull Juanitarsquos Foods bull Enterprise Rent A Car - Upstate NY bull Central Kia of Irving Central Kia of Lewisville bull Rochester Riverside Convention Center bull Texas Nissan of Grapevine bull Learning Tree International bull Concourse Concession Inc bull Ametek Power Instruments Jewish Home of Rochester bull Hampton Inn Rochester North bull Adecco-Rochester NY bull Moersquos Southwest Grill of RochesterBuffalo bull Silicon Valley Community Foundation bull Sharp Edgez Barber Institute Sylvan Learning Center bull Milbank Real Estate bull Innovative Solutions bull Oak Crest Institute of Science bull Keystone Insurers Group Inc bull Myers Pest amp Termite Services Inc bull Hemisphere Management WebLife Media LLC bull Stokes Visca amp Company bull CPA Payroll Inc bull Spinergy bull Law Offces of Richard Kroll bull Nothnagle Realtors bull Young amp Company CPAs LLP bull 717 bull Xerox - XBS Neato Robotics bull Department of Motor Vehicle Driver Safety bull Disabled Veterans Charities bull Heather Heights of Pittsford Inc bull Rochester Yacht Club bull Catholic Family Center bull South Bay Center for Counseling Woods Oviatt Gilman LLP bull Teledyne Controls bull The School of the Holy Childhood bull YMCA of Greater Rochester bull BampZ Manufacturing bull Dixon Schwabl bull Rochester Business Alliance Crosby-brownlie INC bull Pyramyd Air bull PENSCO Incorporated bull Crossfeld Heating and Air Conditioning Inc bull JTR Company bull Builders Exchange of Rochester bull Cellotape bull EPampG Flames Group KMVT Television bull The Black Chamber of Silicon Valley bull Darcoid Nor-Cal Seal bull Caban Resources LLC bull Scott Miller Salon bull Familiar Surrondings bull Hobergrsquos Club Resort bull Three Flames Restaurant KARL STORZ bull Supportcom bull Wpromote bull Safeway SEG bull MMR Technologies bull 3-V Fasteners Inc bull Ability Pathways bull California Orthopaedic Lab bull Del Rio Sanitarium Inc bull Gardner Asphalt Products Hawaiian Gardens Casino bull Hawk Industries bull Heraeus Metal Processing Inc bull Kaiser Aluminum bull Lakewood Gardens bull Lawrence Roll-Up Doors Inc bull Longwood Management bull Newport Exterminating Norwalk Power Equipment Co bull Pacifc Piston Ring Co bull Quaker City Plating bull Quality Foam Packaging bull Romac Supply bull Sango America Inc bull Santa Fe Spgs Chamber bull Steven Label Systems Transport bull The Whole Child- New Name for ICG bull Thistle Roller Company bull Training amp Research Founda bull Trico Converting bull Trojan Professional Services bull Vintage Cerritos (formerly Avalon at Ce) Zee Medical bull Xceed Associates bull Easter Seals bull Lifespan bull Xerox Retirees bull 4WHOLESALE CORP bull First Focus Learning bull Rochester Postal Service bull Optimax Systems Inc

800XFCU222 bull xfcuorg Corporate Headquarters 888 N Nash Street El Segundo CA 90245 bull Regional Headquarters 3330 Monroe Avenue Rochester NY 14618

offcers amp DIRECTORS

LEADERSHIP

COMMITTEES

Board of Directors

Dennis Ruffner Chair Roni Crichton Vice Chair Raleigh Steinbach Secretary Dea Benson John Buttrill Judy Novak Gretchen Valentine

Board of Directors

Dennis Ruffner Chair Roni Crichton Vice Chair Raleigh Steinbach Secretary Dea Benson John Buttrill Judy Novak Gretchen Valentine

Executive Committee

Dennis Ruffner Chair Roni Crichton Vice Chair Raleigh Steinbach Secretary

Executive Management Team

Teresa Y Freeborn President amp Chief Executive Ray Shams Chief Operating Offcer Mary Roberts Chief Financial Offcer Fabiana Burkett Chief Risk Offcer

Other Volunteers

Mark Cunningham Heather Smith

Supervisory Committee

Gretchen Valentine Chair Mark Cunningham Heather Smith

Nominating Committee

Raleigh Steinbach Chair Dea Benson Dennis Ruffner

Finance amp Investment Committee

John Buttrill Chair Dea Benson Judy Novak

15

Select Employer Groups bull Xerox -Rochester bull Xerox - Fuji bull Aero Wheel and Brake Service bull Air Tahiti Nui bull Airport Center Family Dental Offce bull Associated Health Professionals Inc AvisBudget Group Inc CA bull Avnet Inc bull Bell Industries bull Cee Baileyrsquos Aircraft Plastics bull Centinela Hospital Medical Center bull Consolidators International bull Costco Wholesale bull Desser Tire amp Rubber Company Equant Inc bull Hacienda Hotel bull Hankyu International bull HITCO Carbon Composites Inc bull Kerlan-Jobe Orthopaedic Clinic bull Peterson Spinning amp Stamping bull Platinum Healthcare Staffng Inc Q-TECH Corporation bull Radisson Hotel LAX bull Radisson Hotel Westside bull RETRAN bull Signature Escrow bull Sodexho Health Care Services bull Sousa Court Reporters bull The Bus Service Center The COMDYN Group Inc bull Trans Group Express bull Transport Drivers Inc bull Travelodge Hotel bull UIW- United Industrial Workers bull The Queen Mary bull Vivitar Corporation bull Vivitar Security Systems Westside Childrenrsquos Center bull Sizzler USA Inc bull All Transport Packing bull Cooke Center for Learning amp Development bull Federation of Catholic Teachers bull Franklen Glass bull Faith Missions Crisis Rehab Center Greater Ridgewood Youth Council bull China Airlines Bldg 76 bull H amp M Brokerage bull Halmar AMB Cargo Ctr - Multi Tenant bull New York Racing Association bull North American Airlines bull Marsh Corporation Meikle Automation bull Condor Electronics Corporation bull Comforce Information Tech bull Cision INC bull Heberle Disposal Service Inc bull Tanksley Group bull Airpot Corporation bull AvisBudget Group- NJ CDI Corporation bull Johnson Controls Inc bull Xerox Sales AgentOwners bull Inference Corporation bull Industrial Indemnity bull Alliance Precision Plastics bull Aramark bull Leo J Roth Corporation Rochester Davis-Fetch Corp bull Printing by Design bull Nesco ResourceLehigh Design bull Technisource bull Whitenack Consulting Inc bull Ajilon bull HighSoft Inc bull P amp R Industries bull Arthur J Rogers amp Co Arnold Magnetic Technologies bull Light Fabrications bull Nordon Tool amp Mold Inc bull Gupta Technologies bull Tapecon Inc bull The Pike Company Inc bull Mercury Print Productions Inc bull Hazlow Electronics Canfeld amp Tack bull Gillette Machine and Tool Co Inc bull Masline Electronics bull Connors-Haas Inc bull Rogers Assoc Machine Tool Corp bull RP Fedder Corporation bull Boulter Rigging Corp Postler amp Jaeckle Corp bull ACE bull Crum and Forster Corporation bull Zeller Corporation bull Woodcliff The Lodge bull Horizon Solutions bull Securitas (Formerly Pinkerton Security) bull Computer Aid Inc bull Ciber Inc Accustaff bull Superior Tech ResourcesSuperior Staffng bull Dartnell Enterprises Inc (DEI) bull New line Noosh bull Adecco bull Croop-LaFrance Inc bull Weyerhaeuser bull Ultrafab Inc bull FSH Delivery Service Inc OffceMax - Naperville IL bull Advantage Human Resourcing bull Allstate bull Spectra Services Inc bull Securitas (Formerly Pinkerton - Rochester) bull Tucker Printers bull Sierra Systems bull Seneca Park Zoo Society Dynalab Corp bull Xerox Capital Services bull Allworx bull Velocity Networks bull Gerber Collision and Glass bull Standard Data Corporation bull NHA (National healthcareer Association) bull Advance High-Tech Corporation (AHT) Stanford MU Corporation bull Tree Musketeers bull Decision One bull Trident Precision Manufacturing bull Heal The Bay bull Friends of the Webster Public Library bull Buffalo Zoo bull St Joseph Catholic Church J Roberts Scott Inc bull St Josephrsquos Villa of Rochester bull Glovia International bull Praxair bull Charter Partners bull Nippon Express bull SD amp A Teleservices Inc bull Guidemark Inc bull Underserved - Lewisville Underserved - Farmerrsquos Branch Carrollton bull Underserved - St Petersburg bull Underserved - Rosemont bull Underserved - Irving bull Underserved - Dallas bull Underserved - Rochester bull Underserved - San Jose Paradigm Engineering Ltd bull Fairport Baptist Home bull Realogy bull TRG - Realogy bull Travelport bull Wyndham Worldwide bull Broccolo Tree amp Lawn Care bull Davidson Fink LLP bull Isaac Heating amp Air Conditioning Monroe Veterinary Associates(Animal Hos of Pitts) bull SIGMA Marketing Group bull Hyatt Regency Rochester bull Bryant amp Stratton College bull Manpower bull Raytec Group bull West Coast Escrow bull Securitas Barkley Court Reporters bull WXXI Public Broadcasting Council bull Hoselton Auto Mall bull Ignited bull Web Title Agency bull Davie Kaplan CPA PC bull Pulsafeeder Inc bull The Friendly Home bull St Annrsquos Community bull Penske Cadillac Hummer South Bay bull Medical Motor Service bull Time Warner Cable bull Rene Isip Toyota of Lewisville bull IEC Electronics Wire and Cable Inc bull Global Imaging Systems Inc Airport Suzuki bull Lewisville Mitsubishi bull Southwest Kia bull Precision Dialing Services bull Lockton Insurance Brokers LLC bull Juanitarsquos Foods bull Enterprise Rent A Car - Upstate NY bull Central Kia of Irving Central Kia of Lewisville bull Rochester Riverside Convention Center bull Texas Nissan of Grapevine bull Learning Tree International bull Concourse Concession Inc bull Ametek Power Instruments Jewish Home of Rochester bull Hampton Inn Rochester North bull Adecco-Rochester NY bull Moersquos Southwest Grill of RochesterBuffalo bull Silicon Valley Community Foundation bull Sharp Edgez Barber Institute Sylvan Learning Center bull Milbank Real Estate bull Innovative Solutions bull Oak Crest Institute of Science bull Keystone Insurers Group Inc bull Myers Pest amp Termite Services Inc bull Hemisphere Management WebLife Media LLC bull Stokes Visca amp Company bull CPA Payroll Inc bull Spinergy bull Law Offces of Richard Kroll bull Nothnagle Realtors bull Young amp Company CPAs LLP bull 717 bull Xerox - XBS Neato Robotics bull Department of Motor Vehicle Driver Safety bull Disabled Veterans Charities bull Heather Heights of Pittsford Inc bull Rochester Yacht Club bull Catholic Family Center bull South Bay Center for Counseling Woods Oviatt Gilman LLP bull Teledyne Controls bull The School of the Holy Childhood bull YMCA of Greater Rochester bull BampZ Manufacturing bull Dixon Schwabl bull Rochester Business Alliance Crosby-brownlie INC bull Pyramyd Air bull PENSCO Incorporated bull Crossfeld Heating and Air Conditioning Inc bull JTR Company bull Builders Exchange of Rochester bull Cellotape bull EPampG Flames Group KMVT Television bull The Black Chamber of Silicon Valley bull Darcoid Nor-Cal Seal bull Caban Resources LLC bull Scott Miller Salon bull Familiar Surrondings bull Hobergrsquos Club Resort bull Three Flames Restaurant KARL STORZ bull Supportcom bull Wpromote bull Safeway SEG bull MMR Technologies bull 3-V Fasteners Inc bull Ability Pathways bull California Orthopaedic Lab bull Del Rio Sanitarium Inc bull Gardner Asphalt Products Hawaiian Gardens Casino bull Hawk Industries bull Heraeus Metal Processing Inc bull Kaiser Aluminum bull Lakewood Gardens bull Lawrence Roll-Up Doors Inc bull Longwood Management bull Newport Exterminating Norwalk Power Equipment Co bull Pacifc Piston Ring Co bull Quaker City Plating bull Quality Foam Packaging bull Romac Supply bull Sango America Inc bull Santa Fe Spgs Chamber bull Steven Label Systems Transport bull The Whole Child- New Name for ICG bull Thistle Roller Company bull Training amp Research Founda bull Trico Converting bull Trojan Professional Services bull Vintage Cerritos (formerly Avalon at Ce) Zee Medical bull Xceed Associates bull Easter Seals bull Lifespan bull Xerox Retirees bull 4WHOLESALE CORP bull First Focus Learning bull Rochester Postal Service bull Optimax Systems Inc

800XFCU222 bull xfcuorg Corporate Headquarters 888 N Nash Street El Segundo CA 90245 bull Regional Headquarters 3330 Monroe Avenue Rochester NY 14618

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800XFCU222 bull xfcuorg Corporate Headquarters 888 N Nash Street El Segundo CA 90245 bull Regional Headquarters 3330 Monroe Avenue Rochester NY 14618