Members of Sterling Federal Credit Union convened for lunch on Saturday April 20, 2014 at the Hays Student Center Ballroom on the NJC Campus for the 76th Annual Membership Meeting.
President Byczkowski welcomed the membership. He stated that many in attendance have been members for a long time, and never miss a meeting. The loyal attendance of the membership mirrors their support of the credit union.
“Helping our Communities G.R.O.W one day at a time” was the theme for the meeting. Created by the employees of the Fort Morgan Branch office, they cleverly created the anagram GROW and correlated it with credit union philosophy and essential components of success.
G stands for Giving Back…
Giving back to members comes in the form of lower loan rates, competitive dividends, lower service fees or the absence of fees, interest refunds and bonus dividends.
Giving back to our communities…
The credit union supports community events with monetary sponsorships and donations. We also support singular school activities such as yearbooks and after prom activities. Our signature pledge to education is our scholarship program.
R stands for Rising towards success…
Sterling Federal Credit Union is no stranger to success. Since 1938 dedicated volunteers with a purposeful vision, committed management and employees in concert with a loyal membership have aspired to and attained success. Measurements of the credit union’s success is the steady increase in capital and assets. Since organization, loan losses have been minimal due to a well performing loan portfolio: loyal members with the commitment to repay their loans.
O stands for Outstanding Member Service…
Outstanding member service is the mantra of all credit union employees and volunteers. We strive to provide members with the best possible service. Our purpose is to serve you, the member owner. In addition, the credit union industry ranks well above banks for service in consumer satisfaction surveys. The American Customer Satisfaction Index reported consumer satisfaction with credit unions broke all records in 2011 and remained well above the bank average in 2012. For 21 years in a row, the American Banker newspaper did a consumer satisfaction survey of banks, thrifts and credit unions. Credit unions came in first every year. In 2005, American Bankers discontinued taking the survey!
W is for Winning choice, your credit union…
Who would not choose to win? Members win more times than not when choosing to do business with their credit union over other financial providers. Members win at their credit union in many ways. They are member-owners, electors, and share in the profits of the cooperative. This spells win to credit union members!
Reports of the Board Chairman, Mr. Mike Lauer and President, Mr. John Byczkowski included the credit unions growth, financial strength, accomplishments over the last year, and endeavors scheduled for the remainder of the year.
Treasurer, Mr. Randy Bang reported credit union assets increased from $116 million at the end of 2012 to more than $122 million at the end of 2013. He complimented the membership for their commitment in repaying amounts borrowed from the credit union. In 2012, the loan portfolio exceed $38 million. The only loss sustained was a negligible amount of $2,326.
Ms. Kristen Hummel gave the Supervisory Committee Report, noting the positive ratings the credit union received from internal and external audits.
Chairwoman Wendy Smithgall of the Nominating Committee presented incumbent directors Messrs. Randy Bang and Doug Kaufman for re-election to three-year terms. The gentlemen were placed into office by acclamation. They join fellow directors Messrs. Mike Lauer, Howard Combs, Mike Hettinger, Rick Hinojos and Joe McGee.
Guest Speaker Mr. Kean Boucher of Boucher Wealth Management Group gave a presentation on economic fundamentals and investment strategies. His firm has partnered with the credit union to provide financial and estate planning to the membership.
The credit union recognized volunteers and employees for their years of dedicated service to the organization:
Howard Combs, Board Director 35 years
Linda S. Meisner, Vice President 36 years
Terri Ransdell, Card Services 25 years
Tammy Pollart, ACH and Accounting Services, 20 years
Theresa Northrup, Loan Processor, 15 years
Dan Kaus, Vice President of Lending 30 years
Prior to adjournment the following members won $25 cash prizes:
Linda Buescher, Dan Carey, Yvonne Hanson, Luella Hershberger, Kathi Hutt,Les Kuhlman, Nancy Lindstrom, Barbara Malaby, Dorene Moulton, Kay Myers, Mary Muggli, Kenny Phipps, Betty Scharf, Bob Slonecker, Jim Stansbury, Delores Stumpf, Judy Vandagriff, Shanna Wisdom, Bill Wuerz and Pete Youngers
Mr. Bill Myers won the centerpiece and the meeting was adjourned.