Page Header Image

NCB Annual Report 2017

Welcome to the 2017 NCB Annual Report 





Read More


Read More


Read More


Read More


Read More

Investing in ourselves, our community and our customers.

A Letter from the President


We are proud to report that 2017 was another great year for National Cooperative Bank. We continued to provide excellent banking products and services to our customers. We invested in new technology and product enhancements. We partnered with other co-op organizations to increase our impact nationwide. In the process, we achieved strong financial results of $11.6 million in net income.



Investing in our Customers


NCB exists to help our cooperative customers, their members and other socially responsible organizations nationwide. Our lines of business with them generated $932 million in loans in 2017. This included:

  •  more than $625 million in financing for cooperatives, community associations and commercial real estate;
  •  $211 million in new loans for 836 residential unit owners; and
  •  $96 million for other commercial segments across the country.

Out of the totals, the team in our New York office arranged $498 million for cooperative building loans in the metropolitan area, which boasts the most cooperative housing communities in the nation. This region is a key market for the Bank, which captures the majority of the market share as the leading lender in the area.


In 2017, our Specialty Finance team worked with ROC USA and MetLife to assist three manufactured-home communities in converting to limited-equity cooperative housing. This $40 million financing program began in 2015. Successfully completed in 2017, it resulted in six transactions totaling $37.94 million and 839 new homeowners.


As of December 31, 2017, our deposits totaled $1.92 billion. Our deposit growth stemmed primarily from our real-estate lockbox and payment processing initiative as well as our credit union customers--both traditional and correspondent banking. In 2017, we saw an increase of $67 million in deposits related to lockbox and payment processing. We are continuing to enhance our product offerings to management companies, so they can become more efficient and create a great customer experience for their residents.


In September, we were fortunate once again to show the benefit of cooperative ownership by remitting a $19 million patronage refund to 1,795 cooperative shareholders nationwide, including $7.8 million in cash. We greatly value the business we have with our cooperative customers, many of which have been shareholders and committed to NCB’s success for a very long time. Our success is their success.


Launching new programs and enhancing technology


Our residential lending team worked diligently this year with the launch of a new program with the National Rural Utilities Cooperative Finance Corporation (CFC). This provides home-equity and consumer loans to electric co-op members who are interested in energy efficiency upgrades or solar panel installation.


We also worked to enhance our online capabilities for our consumer and mortgage loan applications. As a result, NCB can now offer unit owners the ability to apply for a mortgage or consumer loan using a smart phone or a tablet device.


In October 2017, we upgraded our online banking platform to a new provider. With this change, we can now offer mobile banking, mobile deposit and person-to-person payments for our consumer banking customers. We also launched CardValet for debit-card holders. This application helps reduce account fraud by allowing cardholders to monitor accounts with their smartphones and control how, when and where their debit card is used.


Investing in our Community


NCB’s cooperative and community development mission has guided us for 40 years and is a critical component in defining our institution. In 2017 alone, NCB made loans and investments totaling $200.4 million to benefit low- and moderate-income families and communities. These transactions across the country created 221 new jobs and $9.85 million in new co-op development.


Providing Financial Education


Financial education, both for students and adults, is critical. In 2013, we partnered with Everfi, an online financial education platform which we offer in four Ohio high schools. In 2017, 254 students completed NCB’s high school financial education program, totaling 1,470 hours of learning. Due to that program’s success, we launched our adult financial education platform in 2017. It has had great success in the first year, with 802 users accessing the online learning modules.

In April, NCB was recognized by Everfi with the Financial Capability Award. NCB was selected for the scale and reach of our financial education initiatives, the length of our commitment and unique employee-volunteering activities that supplement our online programs.


Corporate Contributions


In 2017, NCB gave $3.7 million in investments and grants to low- and moderate-income communities. NCB’s employee-driven corporate contributions committee distributed $137,178 to 60 non-profit organizations. Funds for this committee are made possible by a dollar-for-dollar match from NCB’s employee-giving campaign.

Making all of 2017’s success possible were NCB’s employees. They are dedicated and committed to our customers and mission, and I personally thank them for their hard work. Our work environment and culture are critical components of NCB’s success, and our efforts were validated by several honors. In 2017, NCB was named among the “Top Workplaces” by the Washington Post for the fourth consecutive year. We were recognized as one of the “Best Employers in Ohio” for the third year in a row. We also were honored as one of the “Best Adoption-Friendly Family Workplaces in America” by the Dave Thomas Foundation for Adoption. In addition, NCB received the “Nation’s Best and Brightest in Wellness®” for 2017 by the National Association for Business Resources.

By investing in ourselves, our customers and the community, we achieved financial success in 2017. That will grow even more in 2018 as we expand our product offerings and the use of new technology to improve the customer experience.


Thank you for your business. We look forward to a great 2018.


In Cooperation,


Charles E. Snyder
President and CEO


Corporate Responsibility

Since our inception, we have provided more than $6 billion in capital to support underserved communities and cooperative expansion initiatives.


NCB’s cooperative and community development mission has guided us for 40 years and is a critical component of what defines our institution. In 2017 alone, NCB made loans and investments totaling $200.4 million to benefit loan and moderate income families and communities.




$200.4 million serving low and moderate income communities


$3.7 Million in investments and grants to low and moderate income communities


$9.85 Million in new co-op development


221 new jobs created in low/ moderate income communities


$137,178 donated through NCB’s corporate contributions to 60 non-profit organizations


802 users of NCB’s adult online financial education program


254 students completed NCB’s high school financial education program totaling 1,470 hours of learning




2017 Financial Information

NCB is a cooperative financial institution with a mission to serve those that want to make a positive impact in their community.


















Our Board of Directors

NCB's Board of Directors help guide the core business decisions in order to provide value to our members.



Martin Lowery 4

Martin Lowery

NCB Board Chair
Executive Vice President, External Affairs

National Rural Electric Cooperative Association

Arlington, VA

Roger Collins 3

Roger Collins

NCB Board Vice Chair
Chief Executive Officer and Chairman

Harps Foods

Springdale, AR

Wilson bebe 2

Wilson Beebe

Former President

Thanexus, Inc.

Wall Township, NJ

Steve Cunningham 2

Steven F. Cunningham*


S.F. Cunningham, LLC

Vienna, VA

Paul Hazen 3

Paul Hazen

Executive Director

U.S. Overseas
Cooperative Development Council, Inc. 

Washington, DC 

Janis Herschkowitz 2

Janis Herschkowitz

President and Chief
Executive Officer

PRL, Inc.

Cornwall, PA

Debra Huddleston 3

Debra Huddleston

Managing Director

Centennial Bank 

New York, NY

Patrick Jury

Patrick Jury

President & CEO

Iowa Credit Union League

 Des Moines, IA

Peter Larkin 2

Peter Larkin

President and Chief
Executive Officer

National Grocers Association

Arlington, VA

Andrea Levere 2

Andrea Levere


Prosperity Now (Formerly CFED)

Washington, DC

Michael Mercer 2

Michael Mercer*

President and Chief
Executive Officer

Georgia Credit Union

Duluth, GA

Christine Neal 2

Christine Neal

Former Chief Financial Officer

Unified Grocers

Commerce, CA

Mary Ann Rothman 2

Mary Ann Rothman

Executive Director

Council of New York
Cooperatives &

New York, NY

Maurice Smith 2

Maurice Smith 


Local Government Federal
Credit Union

Raleigh, NC

David Swanson 3

David P. Swanson


Dorsey & Whitney LLP

Minneapolis, MN

David Vliet

David B. Vliet

Chief Executive Officer

Tiburcio Vasquez Health
Center, Inc. 

Hayward, CA 


* National Cooperative Bank, N.A. Board Member


Corporate Information

NCB works with customers across the United States providing banking products and services. Please contact us at one of our office locations for more information.




2011 Crystal Drive
Suite 800
Arlington, VA 22202

(800) 955-9622
(703) 302-8000

(703) 647-3460

Washington, DC

1901 Pennsylvania Ave., NW
Suite 300
Washington, DC 20006

(202) 349-7444

(202) 349-7443

New York

250 Park Avenue
Suite 900
New York, NY 10177

(212) 808-0880

(212) 808-4396


139 South High Street
Hillsboro, OH 45133

(800) 322-1251
(937) 393-4246

(937) 393-5711


583 East 36th Street
Suite 222
Anchorage, AK 99503

(907) 561-5744

(907) 561-5777



Account Information


You can view loan, stock and deposit account information in the online banking section of If you have specific questions regarding your account, please contact your loan administrator or NCB deposit operations.






For general information on NCB, please call (800) 955-9622.




About National Cooperative Bank: 

National Cooperative Bank is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. NCB provides financial products and services for the nation’s cooperatives, their members, and socially responsible organizations. Headquartered in Washington, DC, the Bank has offices in Alaska, California, New York, Ohio and Virginia.