LUSELAND - Luseland Credit Union continues to give back to members and community. Now serving in their 60th year, Luseland Credit Union held their annual general meeting and were proud to present details attesting the year they had. LCU saw their total assets grow to $164.38M.
CEO Adam Franko tells the Unity-Wilkie Press-Herald, “Profitability was up for the year, partially due to rising interest rates. We also received a one-time dividend from SaskCentral related to the sale of Concentra Financial.”
LCU was proud to donate nearly $43,000 in the local community. As well, the board of directors approved a patronage payment of $250,000 back to members Feb. 7. This payment came from a bonus on the interest they received on their deposits and a rebate on the interest paid on member loans.
Some of the larger donations presented by LCU in 2022 included $10,000 to Pioneer Haven resident living quarters renovation project, the remaining $14,259 of $25,000 donation to Luseland Legion Park playground equipment and $5,000 to Luseland Pioneer Club for boiler repairs. These are just some of what was given back to the community.
Milestone recognitions were part of the AGM and included: Bob Prieston receiving a five-year award for his term on the board, with Brian Gottfriend receiving a 10-year award for his board service.
Three board seats were up for renewal and Dan Holman, Karen MItzel and Alan Olfert were re-elected by acclamation.
Staff years of service awards presented included:
- Angela Reiter 25 years of service
- Adam Franko 20 years of service
- Greg Mackie 10 years of service
- Mickayla Belliveau 5 years of service
- Ryley Magnus 5 years of service
LCU has nine staff employed. While the business does not track volunteer hours, they know that their staff not only help out with credit union run events in the community, but they also serve on boards, and volunteer with other community groups and organizations. The LCU team hosted a ‘Bounce Back to School’ event as the grand opening of the new playground equipment. LCU also partnered with Delta Co-op and Luseland Family Foods to put on the barbecue in conjunction with the Team Flahr MS Bike Tour event held in town. Staff also hosted a member appreciation barbecue in June and have facilitated a number of member education sessions throughout the year.
An entirely new online banking platform, including new mobile apps were launched in June of 2022.
LCU is celebrating their 60th anniversary in 2023. It was announced at the AGM that an anniversary celebration will take place Oct. 21 in the Luseland-Salvador Homecoming Hall that will include a catered supper, entertainment and door prizes. Members are asked to save the date and more details to come.
