Nelson & District Credit Union continues to grow
By Nelson Daily Staff
Members of the Nelson & District Credit Union (NDCU) heard the finanicial institution continues to be a major player in the Heritage City despite the lower interest rate environment during the 62nd Annual General Meeting Wednesday.
The year’s high points were the Community Investment Program, which saw close to $160,000 distributed to over 150 local individuals and organizations, NDCU’s successful chip Member Card® debit card roll-out and the 2012 celebration for the International Year of Co-operatives.
Members can take a moment and review this year’s corporate reports which are available online at www.nelsoncu.com/corporate_reports.
“In the past year, the biggest financial challenge continued to be the low interest rate environment,” said Doug Stoddart, CEO of NDCU.
“Despite the ongoing challenges in the economy, 2012 was a growth year for your credit union with many collaborative initiatives contributing to our success,” Stoddart added.
“We appreciate the great job our employees did to help us reach our strategic goals. To the members, thank you for continuing to support your local credit union. And as CEO, I thank the board for their oversight and direction. Our job is to serve in the best interests of the membership; without you, we are not relevant.”
At the AGM it was announced that director Laureen Barker was re-elected while director Colin McClure and returning director Michael Bancroft were elected by acclamation.
McClure and Bancroft will serve the Nelson representative area and Barker will serve as director at large, each for three-year terms. Thank you to the members that ran for director at positions and those that participated in the election process.
The board elected long-standing East Shore representative area director John Edwards to the position of chair. Edwards is an East Shore resident and has 16 years experience on the board of NDCU.
Nelson & District Credit Union was established in 1950 and has grown to over $174 million in assets and serves over 10,600 members throughout the Kootenay area.
NDCU is a community based financial co-operative that offers a full range of banking and financial, wealth management and insurance services. Our three community branches are located in Nelson, Rossland and Crawford Bay. Please visit www.nelsoncu.com.
