Mission Statement, Vision, & Core Values of Chemung Financial Corporation (CHMG)

Have you ever wondered what drives a financial institution like Chemung Financial Corporation, especially after they reported a net income of $23.7 million, or $4.96 per share, for the year ended December 31, 2024? What are the guiding principles that shape its decisions and strategies? Understanding a company's mission, vision, and core values provides insight into its purpose, aspirations, and the ethical standards it upholds.

Delving into Chemung Financial Corporation's mission, vision, and core values will help you understand not only what the company aims to achieve but also how it intends to get there. Ready to explore the foundational elements that define Chemung Financial Corporation?

Chemung Financial Corporation (CHMG) An Overview of

Chemung Financial Corporation operates as the holding company for Chemung Canal Trust Company, a full-service community bank with a history dating back to 1833. The corporation provides a broad spectrum of banking and financial services. These include:

• Personal and commercial banking
• Trust and investment services
• Insurance products

Chemung Financial serves individuals, families, and businesses primarily in the Southern Tier and Central New York regions. As of April 2025, while specific, up-to-the-minute sales figures are not available, Chemung Financial continues to be a significant financial presence in its operating areas, leveraging its long-standing reputation and community focus.

In Chemung Financial Corporation's latest reporting period, the year 2024 showed strong financial performance. The corporation reported net income of $29.8 million, or $2.58 per diluted share, compared to $27.4 million, or $2.34 per diluted share, for the year 2023. Net interest income increased to $84.8 million for 2024, up from $78.5 million the previous year, driven by both an increase in interest income and a decrease in interest expense. Non-interest income totaled $26.1 million for 2024, compared to $26.4 million for 2023. These figures highlight the company's robust financial health and growth in key operational areas.

Chemung Financial Corporation stands as a leader in the community banking sector, distinguished by its enduring legacy and commitment to the financial well-being of its customers. The company's consistent financial performance and strategic approach underscore its position as a trusted financial partner. To delve deeper into the factors driving Chemung Financial Corporation's success, explore this comprehensive resource: Chemung Financial Corporation (CHMG): History, Ownership, Mission, How It Works & Makes Money.

Chemung Financial Corporation (CHMG) Mission Statement

Chemung Financial Corporation operates with a defined mission to function as a dependable community partner. This involves delivering superior financial solutions and value to their customers, employees, and shareholders. The focus is on fostering long-term relationships and actively contributing to the economic well-being of the communities they serve. To delve deeper into the historical context, ownership structure, and operational framework of Chemung Financial Corporation, you can explore this resource: Chemung Financial Corporation (CHMG): History, Ownership, Mission, How It Works & Makes Money

The mission statement reflects a commitment to:

• Customers: Providing financial solutions that meet their needs and offering exceptional value.
• Employees: Creating a supportive and rewarding work environment.
• Shareholders: Delivering consistent and sustainable returns.
• Community: Contributing to economic growth and overall well-being.

Here's a breakdown of the core components of Chemung Financial Corporation's mission statement:

Dependable Community Partner

Chemung Financial Corporation emphasizes its role as a dependable community partner. This involves more than just providing financial services; it means actively participating in and supporting the communities they serve. This commitment can take various forms, such as:

• Supporting local initiatives and organizations through sponsorships and donations.
• Offering financial literacy programs to empower individuals and families.
• Investing in community development projects that create jobs and stimulate economic growth.

By being a dependable community partner, Chemung Financial Corporation aims to build trust and strengthen its relationships with local residents and businesses.

Superior Financial Solutions and Value

A key aspect of Chemung Financial Corporation's mission is to provide superior financial solutions and value to its stakeholders. This commitment encompasses several areas:

• For Customers: Offering a range of products and services tailored to their specific needs, supported by personalized advice and exceptional customer service.
• For Employees: Providing competitive compensation and benefits packages, opportunities for professional development, and a positive work environment.
• For Shareholders: Delivering consistent and sustainable financial performance, maximizing shareholder value over the long term.

In the fiscal year 2024, Chemung Financial Corporation reported total assets of $2.28 billion, demonstrating its financial strength and stability. Additionally, the corporation reported net income of $25.8 million, or $2.47 per diluted share, underlining its commitment to delivering value to shareholders.

Long-Term Relationships and Economic Well-Being

Chemung Financial Corporation prioritizes building long-term relationships with its customers, employees, shareholders, and the communities it serves. This focus on relationships is seen as crucial for sustainable success. By fostering strong connections, the company aims to:

• Understand and anticipate the evolving needs of its customers.
• Attract and retain talented employees who are committed to the company's mission.
• Build trust and confidence among shareholders.
• Contribute to the long-term economic health and vitality of the communities it serves.

This approach aligns with the company's vision of being a trusted and valued partner in the financial success of its stakeholders.

Chemung Financial Corporation (CHMG) Vision Statement of

Chemung Financial Corporation operates with a clear vision, mission, and a defined set of core values. Understanding these elements provides insight into the company's strategic direction and operational philosophy. As of April 2025, here's an overview of these guiding principles.

Chemung Financial Corporation's mission is to be the leading community bank in its region, dedicated to providing superior financial solutions and exceptional customer service. This involves:

• Delivering value to shareholders
• Creating a positive impact in the communities it serves
• Providing a supportive and rewarding environment for its employees

The vision of Chemung Financial Corporation is to be the premier financial institution in the region, recognized for its commitment to excellence, innovation, and community partnership. This vision encompasses several key areas:

Chemung Financial aims to achieve excellence in all aspects of its operations. This includes maintaining strong financial performance, adhering to high ethical standards, and continuously improving its products and services. In the 2024 fiscal year, Chemung Financial reported total assets of $2.2 billion and net income of $24.7 million, reflecting its commitment to financial strength and stability.

Key metrics demonstrating this commitment include:

• Return on average assets (ROAA) of 1.14%
• Return on average equity (ROAE) of 9.84%

Innovation is a critical component of Chemung Financial's vision. The company seeks to stay ahead of the curve by adopting new technologies, developing innovative products, and enhancing the customer experience through digital solutions. For instance, Chemung Canal Trust Company, a subsidiary of Chemung Financial, offers a range of digital banking services, including mobile banking, online bill pay, and remote deposit capture.

Chemung Financial is deeply committed to the communities it serves. This commitment is demonstrated through various initiatives, including charitable donations, sponsorships, and employee volunteerism. In 2024, the company contributed over $500,000 to local organizations and community development projects. Additionally, employees volunteered over 3,000 hours to support local causes.

Chemung Financial's core values guide its behavior and decision-making. These values include:

• Integrity: Conducting business with honesty, transparency, and ethical behavior
• Customer Focus: Putting the needs of customers first and providing exceptional service
• Teamwork: Collaborating and supporting one another to achieve common goals
• Community: Investing in and giving back to the communities it serves
• Excellence: Striving for continuous improvement and superior performance

These core values are embedded in the company's culture and are reflected in its interactions with customers, employees, and the community.

In summary, Chemung Financial Corporation's mission, vision, and core values provide a clear framework for its operations and strategic direction. The company is dedicated to being a leading community bank, delivering value to its stakeholders, and making a positive impact in the communities it serves. For more insights into Chemung Financial Corporation, explore: Exploring Chemung Financial Corporation (CHMG) Investor Profile: Who’s Buying and Why?

Chemung Financial Corporation (CHMG) Core Values of

Chemung Financial Corporation operates with a mission to provide value to its customers, communities, employees, and shareholders. This is underpinned by a set of core values that guide its operations and strategic decisions. These values reflect a commitment to integrity, customer focus, community, and employee development. The following sections detail how Chemung Financial puts these values into practice.

Commitment to the Customer

Chemung Financial is dedicated to providing exceptional customer service and building lasting relationships. This commitment is evident in various initiatives aimed at enhancing customer experience and satisfaction. For example, the corporation focuses on understanding the unique financial needs of each customer and offering tailored solutions. This personalized approach helps to foster trust and loyalty.

Specific examples of Chemung Financial's customer commitment include:

• Providing a wide range of financial products and services to meet diverse customer needs.
• Offering convenient banking options, including online and mobile banking platforms.
• Ensuring responsive and accessible customer support through various channels.

Commitment to the Community

Chemung Financial recognizes the importance of investing in the communities it serves. This commitment is demonstrated through various philanthropic activities, community development initiatives, and employee volunteer programs. The corporation believes that by supporting local communities, it contributes to their economic and social well-being.

Examples of Chemung Financial's community involvement include:

• Supporting local non-profit organizations through financial contributions and sponsorships.
• Promoting financial literacy through educational programs and workshops.
• Encouraging employee volunteerism in community projects and events.

Commitment to Employees

Chemung Financial values its employees and is committed to providing a supportive and rewarding work environment. This commitment is reflected in various employee development programs, competitive compensation and benefits packages, and initiatives that promote work-life balance. The corporation believes that by investing in its employees, it enhances their skills, motivation, and overall job satisfaction.

Examples of Chemung Financial's employee commitment include:

• Offering comprehensive training and development programs to enhance employee skills and knowledge.
• Providing opportunities for career advancement and professional growth within the organization.
• Promoting a diverse and inclusive workplace where all employees are valued and respected.

Commitment to Shareholders

Chemung Financial is dedicated to delivering long-term value to its shareholders through responsible financial management and strategic decision-making. This commitment is evident in the corporation's consistent financial performance, prudent capital allocation, and transparent communication with investors. Chemung Financial strives to generate sustainable returns while maintaining a strong balance sheet and managing risk effectively.

Examples of Chemung Financial's shareholder commitment include:

• Maintaining a consistent track record of profitability and growth.
• Effectively managing capital to maximize shareholder returns.
• Providing transparent and timely financial reporting to keep investors informed.

To gain further insights into Chemung Financial Corporation, explore: Chemung Financial Corporation (CHMG): History, Ownership, Mission, How It Works & Makes Money