SRFSI Annual Reports

SRFSI Annual Report 2009

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I am pleased to present the 2009 annual report of the Salt River Financial Services Institution. Despite the uncertainties of the nation and the state's economies, SRFSI has had another successful year. We have continued to provide opportunities to Community members to refinance their home or purchase a new home and we have helped Community members obtain necessary financing to start that small business and expand existing businesses.

Because we are well capitalized, we expanded our mortgage portfolio, and have not charged-off any loans, and our delinquencies have been minor. Our experience as a lender reflects the character and caliber of those to whom we are lending. It is also the result of the attention that is paid by SRFSI to providing financial education and mentoring for all of our clients. Our program and one-on-one mentoring are unique among financial institutions and cannot be matched by any bank.

We are grateful to the leadership of the Salt River Pima-Maricopa Indian Community which has allowed us to be in an enviable position, poised to take advantage of market opportunities. But along with our goal of serving more clients, we also are committed to become more self-sustaining so we continue to secure more grants and create more funder partnerships. On behalf of the entire board, I am proud to be part of this successful organization.

Barbara Boone, Chairman, Salt River Financial Services Institution

SRFSI Annual Report 2008

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It is my pleasure to present the 2008 Annual Report update for Salt River Financial Services Institution (SRFSI). As you will see, 2008 proved to be a very strong year for SRFSI. Despite the uncertainty in the secondary mortgage market, we remain on track to meet our long-term goal of becoming a sustainable financial institution.

We are fortunate to have "patient capital" so we are able to make as many homeownership loans as are requested. We are also well positioned to support Community entrepreneurs as they identify new business opportunities. I am very pleased to report that we have no loans in default, an outstanding statistic given today's marketplace. Our zero default experience reflects both the caliber of people we are lending to and our philosophy of working with our customers. It is our policy to support our families and help them solve problems that can arise.

While SRFSI is not insulated from the larger financial problems that are buffeting our country, we are in an enviable position. We are extremely grateful that the leadership of the Salt River Pima-Maricopa Indian Community had the foresight to establish and fund SRFSI at a level that enables us to both make loans and provide necessary financial education. Nevertheless, our number one goal is to grow this institution so it will not be dependent upon the financial support of the Community and we are actively seeking partnerships from banks as well as grants from foundations.

On behalf of the board, we are proud that SRFSI is well-capitalized, has good financial strength and shows a strong balance sheet. SRFSI has had a very good year in 2008 and we look forward to an even stronger 2009.

Edward Celaya Chairman of the Board

SRFSI Annual Report 2006-2007

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Welcome to the Inaugural Annual Report for Salt River Financial Services Institution (SRFSI).

When SRFSI was funded by the Salt River Council, our goal was to bring financial education and funding to our Community. We knew that we needed both elements so more of our members could own their own homes and start and be successful with their own businesses. We also wanted to stop predatory lending and give people the knowledge to make the best financial decisions for themselves and their families. In short, we hoped that SRFSI would change lives.

As the following pages show, SRFSI is well on its way to exceeding our goals. Much of this success is due to the excellent Board of Directors that oversees the institution, and the professional staff that supports SRFSI. Since its inception, this institution has attracted outstanding individuals who have a vision for service.

It is exciting that so many Community members have sought out SRFSI, taking classes at SRU and applying for and receiving both home and business loans. In the future, we hope that many more Community members will turn to SRSFI and its resources, both to buy homes and to start and expand businesses. One of our long-range goals is to encourage and support Salt River community members to grow our own businesses so that, together, we can create a stronger and more diversified economy that serves our individual members and our larger Community.

Congratulations to SRFSI!

Diane Enos President, Salt River Pima-Maricopa Indian Community