Letter from the President
Disruptions certainly can feel unsettling – but they also can be powerful catalysts for innovation, and inspiration for growth as people in community.
Seek growth
“…by speaking the truth with love, let’s grow in every way into Christ.” – Ephesians 4:15b (CEB)
Dear Friends,
Undoubtedly, 2021 was filled with uprooting challenges. But just like the year before, the Everence® community came together – drawing on our enduring values to navigate these challenging times, caring for each other, and flourishing in new and exciting ways.
Ken Hochstetler, Everence President and Chief Executive Officer
A year of remarkable growth
Our assets under management increased by 20% in 2021, exceeding $6 billion at year end. We also experienced a noteworthy increase in members, helping more clients live out their values through responsible money management and unique community investing, grant-making, and charitable giving programs. We’re grateful to walk alongside our members and clients on their stewardship journeys.
Cultivating generosity
2021 was a record year for charitable giving, with members donating $180 million into Everence charitable giving accounts and distributing $72 million to some 3,000 nonprofits (while building capacity for ongoing generosity). Our MyNeighbor program contributed $444,000 to 560 charities and churches – the program’s highest annual level to date. And, we distributed $819,000 in Sharing Fund grants (matched by $1.2 million from churches) to lessen the financial burdens of thousands of families.
Nurturing digital touchpoints
We’re leveraging technology to enhance our products and services, better meet client needs, and offer seamless customer experiences. One example is Everence Federal Credit Union’s new digital banking suite, which augments our existing banking services and creates even more ways for members to practice stewardship – digitally and in person.
Participating in restoration
Diversity, equity, and inclusion are missionally important for Everence, and we’re cultivating several initiatives as part of this commitment – such as our Everence Community Investments. Developed in 2020 and piloted in Philadelphia in 2021, the program includes lending opportunities aimed at serving individuals often left out of formal financial systems.
Transforming the path forward
To stay adaptive to change and grow alongside our clients, it’s essential that we foster creativity across our organization. That’s why we’re purposefully investing in our workforce to nurture diversity of thought, experiences, and skills, to further bring out the best of our already dedicated staff when it comes to serving our members. We’re also implementing our new strategic plan, which builds on our mission, vision, and values to deliver clear financial guidance and distinctive generosity opportunities to clients through our accessible and differentiated products, services, and experiences.
Going to where we want to grow
Disruptions certainly can feel unsettling – but they also can be powerful catalysts for innovation – and inspiration for growth as people in community. It gives me hope to observe how Everence members, clients, staff, and partners channeled their faith and values in 2021, seeking growth for themselves and the world around them. I’m excited to see what’s in store for us in 2022, as we work together and go to where we want to grow.
Sincerely,
Kenneth D. Hochstetler
President and Chief Executive Officer