2020 Annual Meeting
Due to COVID-19 social distancing restrictions, our 2020 Annual Meeting held on May 19, 2020 was online via a Zoom meeting. Your health, safety and welfare are our highest priority.
Members registered in advance by sending an email to the credit union. Registered members were then emailed digital copies of the 2019 Annual Meeting minutes and the 2019 Annual Report.
Three open Board positions were approved by acclamation: Wilbon Cooper, James Mullineaux and Alan Raymond.
As a result of transitioning the meeting from in-person to virtual, we were able to save on not renting a facility, providing refreshments and producing a digital versus printed annual report. We were proud to donate $1,000 of these cost savings to help our neighbors who COVID-19 has impacted to a further extent through Operation Food Search, a St. Louis-based non-profit organization dedicated to ending hunger in the greater St. Louis metropolitan area. Established in 1981, they are the largest distributor of free food in the bi-state region, distributing more than 3 million dollars worth of food and household essentials, reaching 200,000 people in need each month – nearly one-third of whom are children. They are able to leverage donations so that every $1 donated provides $10 in food and services. That means our $1,000 donation will provide a $10,000 impact to our community.
What Is A Credit Union's Annual Meeting?
By attending your credit union's annual meeting, you have a voice in the direction of your credit union. The annual meeting provides a forum for members to give their opinions, ask questions and receive financial information about their credit union’s performance.
Through an annual report that is released at the annual meeting, the credit union provides an overall financial review of its performance. The annual report specifically outlines members’ deposits and loans, as well as the assets and operating costs of the credit union from the prior year.
All members are invited and encouraged to attend the annual meeting, since the information that’s shared impacts the dividends that are paid, the rates that are received, the products that solve life needs, the fees that are sometimes applicable and the reasons that those fees exist, not to mention the investments in technology, branches, ATMs and more.