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Annual Reports

Annual Reports

Each year, we invite our members and staff to gather and reflect on the previous year’s successes and events. We will review the financial state of the Credit Union, hear from our CEO, Chairman of the Board, Board of Directors, Supervisory Committee, and more. It gives you the chance to exercise your rights as a member-owner of the Credit Union by getting to know the Peninsula Credit Union team.


Peninsula Community Federal Credit Union 2024 Annual Meeting

5:30 p.m. Thursday, April 11, 2024 Shelton, Washington


I. Call to Order & Chair Comments

John Bolender, Board Chair

II. Annual Report

Jim Morrell, President/CEO

III. Supervisory Committee Report

Mendy Harlow, Supervisory Committee Chair

IV. Election

Lane Johnson, Secretary and Chair Nominating Committee

V. Door Prizes

Will Be Offered During Progresando Huntos Presentation

VI. Adjourn

John Bolender, Board Chair

Annual Meeting Minutes

April 13, 2023

The Annual Meeting for 2023 was held on Thursday, April 13, 2023 in our Shelton Branch Lobby.

The 87th Annual Meeting was called to order by Chair, John Bolender at 5:33 p.m. who welcomed those present.

Jim Morrell, CEO, ascertained that there was a quorum of members present.

For everyone present to review, the 2022 Annual Report and Minutes from the 2022 Annual Meeting were made available. A motion was made by Kathy Haigh and seconded by Kyle Lauderdale to approve the 2022 Annual Meeting minutes.

John made his initial comments and recognized the efforts of the Credit Union staff in 2022. He commended efforts made in 2022 towards our strategic initiatives of “Making it Easy”, “Building Trust”, and “+1% Difference”. John thanked Credit Union leadership, managers, and staff. He additionally thanked the Board of Directors and all volunteers for their service to the Credit Union over the past year.

Jim thanked John for his opening comments and shared a summary of the annual reports for 2022. He shared a conversation he recently had with staff from a Zimbabwe Credit Union on annual meeting attendance and thanked all members present for attending. Jim noted that in 2022 capital and net worth ratios were among the highest in Credit Union history. Jim highlighted financial education and community development events included in the Community Impact Report.

Lisa Perry, Supervisory Committee Chair gave the annual report for the Supervisory Committee. She introduced the members of the Committee and Internal Audit and thanked them. She explained the function of the Supervisory Committee and highlighted two audits that were positive; the information security audit and electronic payments audit.

Steve Wright, Vice Chair of the Board, thanked Lisa for her report and proceeded with the election of two Board positions. Having not received any petitions or new nominations from the floor, it was declared that the nominations are to be adopted.

Elected was:

Position #1 Lisa Perry Three Year Term

Position #4 John Bolender Three Year Term

In conclusion of the Annual Meeting, John reiterated a special thank you to Lisa Frazier for her service of over two decades to the Credit Union. John further described that Lisa started as a volunteer in 2001 with the Supervisory Committee and two years later joined the Board of Directors.

With there being no further business, the meeting was adjourned at 5:55pm


Annual Report

At Peninsula, our member-owners are our shareholders. We are committed to offering convenient access to financial information about their credit union.

Our Annual Reports give further insight into our financial condition, but also offer details about our community involvement, yearly business achievements and perspective into important issues affecting credit unions locally and nationally.


2023 Annual Report

2022 Annual Report

2023 Annual Report Cover

Volunteer and Make A Difference

Volunteers of Peninsula Credit Union have the opportunity to strengthen the economic well-being of the communities we serve to benefit everyone, whether low to moderate income or wealthy, unbanked or underbanked. Through strong understanding of financial challenges and opportunities that exist within our community, volunteers offer strategic direction that ensures the credit union will remain independent, viable, and always ready to protect and serve the interests of our members and our community.

When volunteers commit to the credit union, they receive ongoing professional development making them effective leaders; strong networking opportunities to get to know others who share their values; contribute to greater opportunity and improved well-being of the place where they live and work.

To volunteer please contact the credit union at

360-426-1601 or email

[email protected]

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