It has been another great year for TLC Federal Credit Union. We continue to see growth in assets and members. The Credit Union continues to focus on our Mission Statement which is to "To Make a Positive Impact on our Communities". We sponsored or donated more than $70,000 throughout the Clatsop, Tillamook and Lincoln Counties.

Our employees spent literally thousands of hours volunteering for special events, fund raisers, community projects and within our local schools. TLC is part of the community and as both an employer and as employees we want to help out in ways that we feel can really make a difference. The great thing is that as members of the Credit Union you are also helping out your community. Just by being a member of TLC allows us to do more and to have more of a positive impact then before. So encourage your family and friends to join; working together we can all make the North Coast a better place to live.

TLC Federal Credit Union is now 48 years old and with that we hit a couple of milestones. First we finally have a new branch in Newport, Oregon. It is a beautiful 4,000 square foot office with two drive ups and a drive through ATM. We have been at our old branch for the last 15 years so a change was long over due. The other milestone was reaching the $80 million mark in total assets. It took us 40 years to reach the $40 million dollar mark and then took us less than 9 years to double that amount.

Great service, impacting our communities, continued growth, new products, new branches; TLC is on the move and going strong. Watch for 2006 to be another great year for your Credit Union.

Respectfully Submitted,

Mike Pierce, CEO