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The Nelson and District Credit Union board held its 61st annual general meeting in Rossland on Tuesday night where it released financial results for 2011 and introduced new board members.
The year’s high points were the Community Investment Program, which saw close to $270,000 distributed to over 140 local individuals and organizations, NDCU’s successful banking system upgrade called “SWITCH” and the 70th anniversary celebration of a credit union in the community of Rossland.
“Looking ahead, Nelson and District Credit Union will be completing its migration to chip payment technology by the end of 2012,” said Doug Stoddart, credit union CEO.
“Despite the ongoing challenges in the economy, 2011 was a progressive year for your credit union. We appreciate the great job our employees did to serve the members and help us transition to our next-generation banking system. To the members, thank you for continuing to support your local credit union. And as CEO, I thank the board for their oversight and strategic direction. Our job is to serve in the best interests of the membership; without you, we are not relevant! I encourage all members of our communities and our credit union to consider us first for a great rate, community based mortgage.”
At the AGM, incumbent director Andy Chute was re-elected while directors John Edwards, Mark Martin and Lorne Westnedge were elected by acclamation. Chute will serve the Nelson representative area, Edwards will serve the East Shore representative area and Martin will serve the Rossland representative area and Westnedge will serve as director at large.
The board elected Nelson business owner John Malakoff to the position of chair. Malakoff has several years experience in the role as chair of NDCU.
Nelson and District Credit Union was established in 1950 and has grown to over $167 million in assets and serves over 12,500 members throughout the Kootenay area. The credit union is a community based financial co-operative that offers a full range of banking and financial, wealth management and insurance services. Their three community branches are located in Nelson, Rossland and Crawford Bay. Please visit www.nelsoncu.com.
If you would like to take a moment and review this year’s corporate reports, they can be found online at nelsoncu.com/corporate_reports.