On the evening of Tuesday, April 21, the staff, board of directors and many clients of North Valley Credit Union, met together at the Royal Canadian Legion Hall in Esterhazy for the 17th Annual General Meeting. Registration was at 6:30 p.m., followed by the meal at 7:00 p.m (catered by Esterhazy Bowlarena), with the main meeting running from 8:00 p.m. to 9:03 p.m.
The meeting included the usual formalities, such as call to order, selection of chairperson, appointment of recording secretary, and the adoption of the agenda. Proof of quorum was also affirmed, and affidavits were presented, including notice of annual meeting, availability of reports, and requests for nominations. The minutes of the previous AGM were also read and adopted, and then the first round of door prizes was drawn.
Reports were then read. These included the President’s report, General Manager’s report, management discussion and analysis, presentation of charts and graphs, the Loans Manager’s report, and the Auditor’s report and review of financial statements.
Some interesting facts came to light in these reports. For example…
- NVCU management and staff donated more than 723 volunteer hours to the community
- NVCU Board of Director members donated more than 1,868 volunteer hours to the community
- In 2014 NVCU donated $25,000 to St. Anthony’s Building fund
- In 2015 NVCU is budgeting another $20,000 to St. Anthony’s
- Two scholarships were given to students graduating in grade 12
- in 2014, total assets under administration exceeded $92 million
In his report, CEO and General Manager, Roy Spence outlined some of the larger economic issues that credit unions have to face. These included,
- Historically low interest rates
- The advancement of technology
- Increasing regulations
- Over-saturation of service providers vying for the same business
Roy Spence concluded, “Notwithstanding all of the challenges we face today, North Valley Credit Union continues to move forward. We are growing the company and, in fact, our credit union achieved its highest level of both on-balance sheet assets and also total assets under administration at the end of 2014.”
Spence also paid tribute to both his capable staff and the committed board of directors, and group pictures were taken of each body. A long-term service award was also given to Angie Herperger for completing 30 years of service to NVCU.
Below are some pictures taken at the event. Open the image viewer by clicking on any thumbnail.