A Message from the President
Strength Through Safety, Soundness and Service

This economy we're experiencing has not been a lot of fun lately for most families, businesses and government agencies. After all, there is not a lot of joy to be found when the news seems focused on rising prices on gas and food, falling home values and increasing unemployment. In fact, it's gotten so tough that if you travel by airline, you almost have to purchase a separate ticket just for your luggage. (And don't even think about asking for a free bag of peanuts or soda!)

Financial institutions have certainly not been immune to these economic conditions, as evidenced by a few recent well chronicled, high profile events. And although Greater Nevada is by no means unaffected by the current environment, we remain a sound, secure, service-oriented financial institution that continues to grow in assets and increase in membership. We also remain focused on serving you, the member/owners of this credit union.

The capital base of Greater Nevada, which is the money that provides a cushion against economic downturns and short-term financial challenges, remains strong. That capital has been built solely from the accumulated earnings of the credit union over the course of its 60-year history. This healthy capital position represents the ultimate measurement of financial soundness and allows the credit union to withstand the challenges presented by trying economic times. Since its inception in 1949, GNCU has successfully weathered such conditions on multiple occasions. Your credit union remains well positioned for this situation as well.

Greater Nevada also continues to grow exceptionally well in both assets and membership. Through the first half of 2008, our asset base grew by over $30 million, which was a very strong growth rate of over 11%. The credit union also continues to attract new member/owners, with membership increasing by more than 1,000 since the beginning of the year. As a result, that membership now stands at more than 53,000. Even in this time of economic uncertainty, Greater Nevada remains a strong and vibrant company.

Beyond the dollars and cents, a vital yardstick for any company is how well it does in delivering service. This is where many financial institutions that focus mainly on generating profits have fallen short of the mark. While they may talk about service, people often find that those words ring hollow at the times when they need them the most. Yet through the feedback Greater Nevada's members provide, you've told us time and again that not only are we serving you well, but we're continuing to get better. In fact, more and more of you have told us that you are willing to recommend Greater Nevada to your family, friends and co-workers.

That response is encouraging, because we realize that serving people is ultimately our one and only business. Regardless of the financial circumstances that may be facing all of us, our desire to serve you better today than we did yesterday always remains the same. We understand that we can't always succeed in meeting your every need, but that won't stop us from trying.

So no matter what type of service you desire, please let us know. Whether its help with the opening of a new checking account or debit card, getting information on buying a car or home, assistance in managing existing debts that may be causing you concern, or anything else on your mind, just ask any of our people. I won't promise you that we all immediately know all the answers, but I can tell you that all of us will work to get them for you. After all, we're all here to serve you.

Best Regards and God Bless