Annual Reports
Annual Reports
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
PENINSULA COMMUNITY FEDERAL CREDIT UNION
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
Handouts
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.
