As a Member, you are an owner of the Credit Union. You've probably heard that before, but what exactly does it mean? It means you are important and have a voting right to help keep the Credit Union moving in the right direction... UPWARD and FORWARD.
As a not-for-profit that is cooperatively owned by you (our members), we all benefit when you engage and participate in credit union ownership. That’s why we are inviting you to attend our 2019 Annual Meeting. It’s an opportunity for you to meet your management, elected board, and many CB&I employees who serve our membership. We will use this meeting to report on last year's performance and discuss future plans for CBI Federal Credit Union.
Your Voice Literally Counts
When you opened your first account with CBI Federal Credit Union, you deposited a small amount into your savings for which has stayed locked into that account ever since. This deposit represents a share of ownership, giving you rights and privileges as an owner of the credit union.
One of those rights is a vote to elect the Board of Directors, your representatives, at the Annual Meeting. This is what sets credit unions apart from other financial institutions like banks. It's the Board of Directors responsibility to oversee the credit union and serve its membership with decisions based on what will best benefit the credit union’s near and long-term direction while ensuring these decisions are in the best interest of the membership at large. As a member/owner, you elect the group of volunteers that truly set the direction of our future. This is why we say It's All About We.
The CBI Federal Credit Union held its 55th Annual Membership Meeting on Wednesday, March 13, 2019 at 4:30 PM in Illinois and Texas conference rooms. Thank you to those who were able to attend! Check out our Annual Report.
Annual Meeting Highlights:
- Chairman Dave Lacey discussed how the credit union’s core purpose is to serve people who advance and promote the interests of the public. He remarked on how difficult and competitive it is to be in the financial services business and he stated that the credit union is secure, safe and sound. He discussed the Credit Union’s core value and vision statement and how the credit union provides value to its memberships. He thanked the volunteers, board, and staff for their commitment and leadership and the membership for their support.
- Treasurer Robert Doty, presented the treasurer’s report and stated the Credit Union is financially strong even thou we encountered some losses on loans but does see this turning around for the coming year.
- Manager, Michele Timpe discussed the remote services that are available to the members and how important it is for the Credit Union to invest its member’s money into services that members will use.
- Nominating Committee Dick Poirier presented the Nominating Committee report noting that there were 3 candidates submitted for nomination by the Nominating Committee for 3 positions. Having received no petitions, Dave Lacey, Robert Doty and Thomas Mullen were elected to the Board by acclamation to serve a 3-year term.
Thank you for your loyal membership.