STOUGHTON - The Stoughton Credit Union (CU) held its 64th annual general meeting (AGM) on April 17 at the Stoughton branch of the Royal Canadian Legion.
Supper was prepared and served by a few legion members. Board president Greg Goudy was unable to attend due to illness, so director Darwin Fenn read Goudy’s remarks and lead the meeting.
Goudy reflected on 2023 and feels it was a fruitful year for Stoughton CU, regardless of the notable increase of the prime lending rates. They managed to surpass their mortgage loan growth target for the year, displaying resilience and adaptability in a dynamic financial landscape.
According to Goudy and general manager Christine Corscadden, the past two years brought a member loyalty program, which has been instrumental in fostering stronger bonds with their valued customers.
After another profitable year, the board approved a $50 rebate to every member in good standing. This was well received in the past and it is an opportunity to give back to the community.
The CU was pleased to announce a patronage payment for 2023. They will be returning two per cent on interest paid, subject to specific criteria outlined by the board.
The highlight of the evening for some was initiating a $75,000 sponsorship with the Stoughton Golf Course, spanning 15 years, which will give the CU naming rights. The money will be used to do upgrades to the interior of the golf course clubhouse. Darlene Bowen and Ralph Hemphill were on hand to receive the cheque on behalf of the golf course.
This reflects the credit union's commitment to supporting local endeavors and fostering community ties.
They also embarked on a two-year sponsorship of $5,500 with the Heward Community Complex. Douglas Trowell was present to receive the cheque.
Everyone seemed pleased with the sponsorships and looked forward to seeing the upgrades that will happen in the future.
Another highlight of the evening was Karla Gervais receiving her 10 years of service award. She is the marketing/projects manager in Stoughton.
Harold Johnston, Deric Reaney and Zandra Slater let their names stand for the board of directors and were acclaimed to the posts.
Johnston has served 21 years on the board of directors, and Reaney and Slatere each have 15 years of experience.
Throughout the year, the board of directors meets regularly, providing strategic direction and oversight to ensure the continued success and stability of the credit union.
Approximately 45 people were in attendance and each person received a Stoughton CU cooler bag for coming to the meeting.
Fenn thanked the staff for all their hard work and the members for attending. At this point, the meeting was adjourned.
