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Executive VP/COO April Report

April 12, 2021

Adapting & Moving Forward...

Fiscal Year 2020 was a year of great personal and business adaptation for all. We experienced a truly unprecedented situation with the coronavirus global pandemic affecting every aspect of our lives from our communities, our members, our producers, our team members and our partners.

During this year of challenges and the unknown, GCU rose to the occasion to lead our business forward by being creative, innovative and agile. Credit for these results goes to all of our GCU team members, who have demonstrated incredible creativity, agility and commitment to serving members and producers every day during this crisis period.

Before I go into more detail on our Fiscal Year 2020 & 2021 strategy, I want to briefly outline the immediate priorities, we established to carry us through the pandemic:
1.) Protect the health and well-being of GCU team members;
2.) Provide innovative solutions to our members and agents to provide the service that you expect;
3.) Support the communities, relief agencies, the faith and people on the front lines of this global pandemic.

In 2020, GCU reached another milestone of $2.2 Billion in assets through our Life and Annuity growth. Life premium grew 62% over 2019, Annuity Premium grew 1% over 2019 (with the overall Fixed Annuity Industry decreasing by 11%), distribution agency recruiting grew 295%, and individual producer recruiting grew 114%.

A new year is upon us, bringing with it great optimism, new opportunities, new challenges, and – I can confidently predict – new GCU milestones and accomplishments. Our strategy is unwavering, and it’s delivering strong, balanced growth and value creation. GCU works diligently to adapt to new circumstances while planning for the future. We continue to develop a more empowered, agile and accountable organization.

As a progressive financial institution, we have set six key strategic goals:
1.) Grow our Life Business!
2.) Grow our Annuity Business!
3.) Continue to Design & Implement our New “OIPA” Strategic Administrative System Platform!
4.) Upgrade our current Rating from a BBB+ to A-!
5.) Continue to increase our profitability!
6.) Continue to Invest in “YOU & YOUR” Community!

GCU is committed to continue growing our Life & Annuity business lines. As an Organization, we are revamping and increasing our Life & Annuity Business to diversify our product mix. We have successfully developed and implemented the Eternal Advantage Final Expense Life product on our new OIPA administrative system.

GCU is in its third year of investing in a new modern, agile administrative system to ensure our competitive advantage. Our new system will be focused on delivering a “Wow!” member and agent experience to ensure ease of doing business with GCU. It will be a new digital transformation in this modern era.

Our entire organization will continue to lead and manage a well-controlled business environment as well as strong financial stability. We continue to have our solvency higher than the average top 25 leading Life Companies. With our strong financial balance sheet and successes, we will be able to obtain an A- rating in the near future.

Finally, GCU is devoted to investing in “You” & “Your” Community! GCU will continue to Invest in the Goodness of Community. Nothing we do is possible without “You” our strong member community. Members who are passionate enough to volunteer their time to a common effort and commitment to a cause. We thank “You” for your tireless hours and “Your” effortless contributions to charity.

I look forward to sharing GCU’s 2021 successes and accomplishments. Our goal is to seek to understand how we can evolve and better serve our members to strengthen the organization’s outstanding legacy.

Our members are the heart of GCU. We are very grateful to you and your ongoing support this past year. We simply say “Thank You” for everything!

Have a Great Spring!
Fraternally Yours,
Scott W. Schuetz, Chief Operating Officer

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