Credit union reports growth, success
Holyoke Community Federal Credit Union and Imperial Credit Union had much to celebrate with members as they reported a successful year at their annual meeting at the Phillips County Event Center in Holyoke Monday night.
“2016 was a successful year for our credit union. We feel that a slow, controlled growth rate and positive income each year will continue to help our credit union strengthen over time,” said board chairperson Steve Starkebaum.
“‘People helping people’ is what we continue to strive for,” he said. “Keeping your money invested locally helps our community stay strong.”
Starkebaum emphasized that the credit union continues to look for and offer new services to ensure convenience without compromising safety or customer service.
President Randy Hale detailed some of those new services and changes at the credit union.
In March 2016, they launched mobile banking and remote deposit capture for smartphones, and last July, the credit union began rolling out debit cards that can be used with new chip readers.
“Although challenging, changes are most often for the better,” said Hale.
“The goals we have set for the next three years show continued growth and continued profitability,” he said.
He reported the credit union grew in member savings, individual retirement accounts, checking, money markets/health savings accounts, loans, total assets, regular reserve, undivided earnings, net income and total dividends paid.
The only area that did not see growth was share certificates.
“I believe that our credit union is positioned well for the future, and with conservative management, we will be having this same conversation next year,” said Hale.
The president gave credit to the many people who volunteer their time to oversee the work of the credit union. He also thanked the employees for their support.
“People helping people is a way of life at the credit union,” he said.
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