2016 Annual Report

SPERRY ASSOCIATES FEDERAL CREDIT UNION

In 2016, Sperry Associates Federal Credit Union reached significant goals on behalf of its Members – most
importantly, the NCUA upgraded the credit union to a CAMEL 2 rating. Sperry experienced another strong financial
year - with growth in Membership and capital ratio - led by our management team and staff, with guidance and support
from our Members, Board of Directors, and Supervisory Committee.

I am extremely proud of our CEO and Vice Chairman, Kevin Healy, whose commitment and determined
leadership, along with his hard working staff, has helped Sperry continue down the road of success. Under his direction,
the Board is confident that Sperry will remain to thrive and build a sustainable credit union for generations to come.

2016 marked 80 years of service to our Members and their families. We continue to uphold our tradition of
people helping people through consistently offering convenient services and competitive rates that add value to your
lives. I would like to thank all of you personally for your constant support and for your trust in us as your financial
partner. We are proud to have served this community for the past 80 years and we look forward to helping our Members
reach their financial goals for many years to come.

Gary Barello
Chairman of the Board of Directors

 80th Anniversary Celebration  Molloy College Athletics Dept.

 Boots On The Ground  New Hyde Park Street Fair

COMMUNITY  First Time Home Buyers Seminar  North Shore Sheltering Program
INVOLVEMENT
 Island Harvest  Ronald McDonald House of LI

 Maurer Foundation  Salvation Army

 Mineola Athletic Association  Sperry Annual College Scholarship

 Mineola Street Fair  Williston Park Street Fair



2016 signified another successful year for Sperry Associates Federal Credit Union with growth in both
Membership and capital. Most importantly, the NCUA raised Sperry to be one of the highest CAMEL ratings allowed
showcasing our remarkable achievements and resiliency over the past few years.

Through commitment and hard work, the Sperry Team has strived to consistently provide our Members with
value and convenience – from our competitive rates on loans and deposits, to our Online and Mobile Banking services.

November 11, 2016 marked Sperry’s 80th Anniversary. I thoroughly enjoyed celebrating the milestone with our
Members, their families, and our neighboring businesses at our 80th Anniversary Celebration at our branch in Garden
City Park. On behalf of the Sperry management and staff, we are very proud to have served Long Islanders and their
families for the past 80 years and look forward to continuing our financial partnership for many years to come. At the
heart of our credit union lies our membership and preserving our philosophy of people helping people within our
community is extremely important to us. We continually build upon our community service contributions each year by
attending local street fairs, awarding our annual college scholarship, and supporting Long Island charities, including the
Maurer Foundation and Boots on the Ground, Island Harvest, North Shore Sheltering Program, the Ronald McDonald
House of Long Island, Salvation Army and Long Island youth organizations including Mineola Athletic Association.

I would like to sincerely thank our Members, the Board, and the Supervisory Committee for your continual
support. As your CEO and Vice Chairman, I am proud of Sperry’s achievements and progress over the past few years. I
remain fully committed to leading us forward together – on the path of evergreen success in the years ahead.

Kevin J. Healy
CEO & Vice Chairman of the Board of Directors

The Supervisory Committee is a group of volunteers that ensures the Credit Union’s operations and policies are
compliant with state and federal regulations. Members of the Committee are selected by the Board of Directors, and our
main focus and responsibility is to Sperry Associate Federal Credit Union’s Membership. We verify that management is
executing proper internal controls consistently and that its practices and procedures adhere to generally accepted
accounting principles.

Albrecht, Viggiano, Zureck & Company, PC (AVZ) was retained to perform an annual financial audit and i2ss0u1e6
certified financial statements on the overall condition of Sperry. AVZ audited the financial statements in 2016, finding
true and accurate numbers.

The Committee also ensures that Member issues are handled properly and promptly. Member inquiries may be
sent to the Supervisory Committee at: Sperry Associates Federal Credit Union, PO Box 7875, Garden City, NY 11530.

We believe that the Committee’s consistent and objective evaluation of the Members’ interests, and our measures
to protect assets will aid in strengthening Sperry. We are grateful for the opportunity to volunteer at Sperry Associates
Federal Credit Union.

Rosaria Sasso
Chairperson, Supervisory Committee

In 2016 we celebrated our 80th Anniversary. 80 years of helping our Members and our community better their
financial lives. By offering competitive rates we hope to make the challenges of day-to-day life, retirement just a little
bit easier, and to make a new car or home more attainable.

The growth of our Membership indicates that other people believe in that message as well and that our
community is expanding. The fact that our assets and deposits continue to grow also lets us know that we are a positive
financial force in our Member’s lives.

One of our goals is to earn your financial trust every day. That trust includes offering the best rates and service
possible in order to provide our Members with value. Our service is also about upholding our tradition of “People
Helping People” which is a commitment we make daily to our Members and their families.

We are proud of our record and believe that we are well positioned to begin the journey towards the next 80
years of service to the Long Island community.

Doug Brinkman
Chief Financial Officer