John Edwards re-elected Nelson credit union chair

At its 64th annual general meeting held in Nelson on Tuesday, the Nelson and District Credit Union released positive financial results.

At its 64th annual general meeting held in Nelson on Tuesday, the Nelson and District Credit Union released positive financial results for 2014, introduced longterm employee service awards, and introduced elected and acclaimed directors.

The year’s high points were solid financial growth, the community investment program, which saw close to $142,000 distributed to over 150 local individuals and organizations, the credit union’s successful preparations for their recently completed banking system upgrade and the launch of its mobile app with the deposit anywhere feature.

“Over the past few years Nelson and District Credit Union has outlined the challenges to our credit union due to the low interest rate environment, slow economy and increased regulatory burden,” says CEO Doug Stoddart.

“Despite the ongoing challenges in the economy, 2014 was a growth year for your credit union with several highlights.”

Among the highlights, assets increased by three per cent to $187.4 million, members’ loans increased by 11 per cent to $135.2 million, members’ equity increased by six per cent to $15.1 million, and the community investment cumulative total reached $3.03 million, since 2000.

Subsidiaries Kootenay Insurance Services Ltd. and NDCU MoneyWorks also performed well. At the AGM, re-elected director Andy Chute was introduced, while new director Karina Farr and returning director John Edwards were elected by acclamation. Chute will serve as Nelson representative area while Farr will serve as Rossland representative area and Edwards will serve as director East Shore representative area, all for three-year terms.

One of the director Rossland representative area positions received no nominations and remains vacant. The board acknowledged outgoing directors Regina Day and Mark Martin for their dedicated service and passion towards the credit union system.

On Wednesday, the board of directors re-elected long-standing East Shore area director John Edwards as board chair. Edwards has 18 years experience on the board with three years as chair. Andy Chute was elected first vice-chair while director-at-large Laureen Barker was elected second vice-chair.

Nelson and District Credit Union was established in 1950 and has grown to over $187 million in assets and serves members throughout the Kootenay area. It is a financial co-operative that offers a full range of banking, financial planning (NDCU MoneyWorks) and general insurance (KIS Ltd) services. Its three community branches are located in Nelson, Rossland and Crawford Bay.

This year’s corporate reports available at

Just Posted

Selkirk College students protest proposed tuition increases

Sudents’ union says this year’s 2 per cent increase puts education out of reach for some

Nelson project funds rural schools in Nepal

Mountain trekker David Swain runs the Altitude Project

Trail area homicide investigation continues

Jan. 14 marked one year since Jordan Workman was discovered in the trunk of a burnt car

Leafs, Nitehawks settle for 4-4 tie

Nelson is now unbeaten in nine straight games

Former ski champ and MLA’s son hope to open Castlegar cannabis store next month

Felix Belczyk and Ben Conroy are in the approval process for local Spiritleaf outlet

UPDATE: B.C. legislature managers accused of excessive travel, personal expense claims

Clerk Craig James, security chief Gary Lenz call allegations ‘completely false’

B.C. man fined $10,000 after leaving moose to suffer before death

Surrey man was convicted last week on three Wildlife Act charges

‘Blue Monday’ isn’t real, but depression can be

CMHA encourages people to prioritize their mental health

Anti-pipeline group wants NEB to consider impact of emissions, climate change filed NEB motion asking to apply same standard to the project as it did with Energy East pipeline

B.C. man charged in 2014 snake venom death of toddler

Henry Thomas was taking care of the North Vancouver girl the day before she died

Parole granted for drunk driver who killed B.C. RCMP officer

Kenneth Jacob Fenton will be able to attend alcohol abuse treatment, nearly three years after crash that killed Const. Sarah Beckett

B.C.’s largest public-sector union wants inquiry into money laundering, drugs

Union officials say Premier John Horgan and Attorney General David Eby have not ruled out the possibility of a public inquiry

Teen in confrontation with Native American: I didn’t provoke

Nick Sandmann of Covington Catholic High School said he was trying to defuse the situation

New military armoury opens in Cranbrook

Military presence in the Key City a part of the 44th Engineer Squadron

Most Read