Annual Meeting

2021 Virtual Annual Meeting

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
2021 Annual Meeting
5:00 p.m. Thursday, April 15, 2021
Shelton, Washington

1. Call to Order
John Bolender, Board Chair

2. Annual Report
Jim Morrell, President/CEO

3. Elections
Sue Barnard, Secretary & Chair Nominating Committee

4. Adjourn
John Bolender, Board Chair

Annual Meeting Minutes

July 21, 2020

The Annual Meeting for 2020 was held on Tuesday, July 21, 2020 at the Shelton Branch Office.

The 84th Annual Meeting was called to order by Chair, John Bolender at 5:40 p.m. who welcomed those present.

Jim Morrell welcomed everyone to the unique annual meeting in the face of COVID-19 everyone wearing masks and socially distanced throughout the room. Jim introduced volunteers and staff members and thanked everyone for attending.

Sue Barnard, Secretary ascertained that there was a quorum of members present.

The minutes from the 2019 Annual Meeting were available for everyone present to review.  A motion was made and seconded to approve the 2019 Annual Meeting minutes.

Steve Wright gave the Nominating Committee report stating that two members had been nominated to serve on the Board of Directors and there were no other nominations received or petitions challenging either of the nominated candidates. He then asked that a unanimous ballot be cast for those candidates for the Peninsula Community Federal Credit Union Board of Directors. A nomination to cast a unanimous ballot was made and seconded.  All present were in favor of this motion.

Elected was:

Position #1-Lisa Frazier-Three Year Term
Position #4-John Bolender-Three Year Term

John gave the Report of the Chairman noting that PCFCU ended the year on a positive financial note with long term financial plans creating a healthier and positive trajectory in the community.  John noted that we are available to all members in the community targeting populations that benefit from solid financial literacy support and that PCFCU plays a vibrant role in the community.  John thanked everyone for the success of the credit union and stated that the solid foundation built has helped in the COVID-19 era.  The fact Peninsula is being recognized in the community and the many stories of how PCFCU has helped build trust.  John referred to the President’s, Chairman’s and Supervisory Committee’s report in the Annual Report for 2019.  John entertained questions, there were none.

John Lester, Supervisory Committee Chair referred to the annual report.

Jim Morrell, CEO noted that 2019 was a successful year and with that PCFCU was in a better starting place going into 2020. Staff has been adaptable pivoting many times over the past several months to adapt to all the changes related to COVID.  Jim noted that it has been a different year, however, efficiencies have been created which will sustain us throughout the remainder of the year.  Jim thanked everyone present and entertained questions, there were none.

There being no further business, the meeting was adjourned at 5:51 p.m.


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.

2020 Annual Report
2019 Annual Report
2018 Annual Report

2020 Annual Report Cover Image

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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