Credit union sees bright future

On Monday, it was a chance for the Holyoke Community Federal Credit Union and Imperial Credit Union to look back at the successes of 2019 and look ahead to the promising future of 2020.
The credit union invited members to its annual meeting at the Phillips County Event Center in Holyoke, Colorado.
The evening’s presentations included the president’s report by Randy Hale and the chairperson’s report by Steve Starkebaum.
“Our loan officers have been busy again this year,” said Hale. In 2019, between the two branches, 308 loans were approved, totaling $9,004,838.44.
As of Dec. 31, 2019, loans to members totaled $27,582,001.21, which represents an increase of $1,198,676.97 for 2019.
Total loans written off were $28,537.57, while recoveries totaled $1,076.81 for a net loan write-off of $27,460.76.
“The credit union’s asset size has grown steadliy since 2016 and has achieved steady growth in undivided earnings,” said Starkebaum. 2019’s total assets were $34,223,015.89, and the undivided earnings were $2,056,460.80.
Hale reported that he expects the credit union’s asset growth to slow slightly in 2020. While the cooperative  has been profitable over the last several years, its asset growth has outpaced the income growth, he said.
Starkebaum emphasized that 2019 dividends paid to members increased by more than $151,000 from 2018, and dividends paid to members have nearly tripled since 2016. Total dividends paid for 2019 were reported as $369,972.64.
“Our credit union ended 2019 larger than any other year end to date,” said Starkebaum. “The outlook for 2020 is very stable.”
Hale said the credit union offers progressive programs for people in all age groups. This year, efforts will be more focused on promoting the benefits of membership to a wider audience. He would like to see the credit union continue to grow by adding new members, especially younger members who will help ensure the future health of the credit union, while also maintaining and caring for the current members.
Staff members are dedicated to protecting members from scams, forged checks and more, said Hale. The number of methods criminals use grows every day, and he’s proud of the way his team has handled the constant changes.
Hale emphasized the credit union’s commitment to increasing community involvement as well, noting he believes the credit union is a key piece of encouraging community growth and prosperity.
Hale’s goals for 2020 are to solidify, fine tune, strengthen and magnify. “After all, your future is our future,” he said.
Krueger, Sandquist,
Graham elected to board
Starkebaum and Diana Baeza were thanked for their service as credit union board members at Monday’s meeting. Both chose not to run for reelection this year.
Three people vied for two seats to represent Holyoke on the board. Brenda Krueger and John Sandquist were elected. Two people vied for one seat to represent Imperial, and Jan Graham was elected. These three board members will all be serving three-year terms.
Others on the board are Corey Zeiler, Jes-c French, Josh Martin and Lisa Schilke.
Christine Hadeen gave a report on behalf of the supervisory committee, which meets once a month to review loans, check insider accounts, etc. Others who served on the committee in 2019 were Fletcher Hinck, Janel Wailes, Graham, Randy Hayes and Roger Phillips. They worked with Petersen and Associates of Papillion, to ensure the credit union is safe and compliant.
Hale introduced new credit union employees, including member services specialist Jessica Sisseck, financial service specialist Sharon Bernard and loan officer Eric Gonzalez. He also announced that last October Gonzalez received the HOPE Award — Helping Our People Everyday — from the High Plains Chapter of the Mountain West Credit Union Association.
Hale also told members that Nancy Krier, a teller in the Holyoke branch, will be retiring this month after 33 1/2 years in the financial industry.
A special part of Monday evening was when the credit union recognized those who have been members for 50 years.
Prior to Monday’s meeting, a dinner was catered by Happy Jacks Barbeque. Challengers 4-H Club helped serve the meal and entertained young members with kids’ activities.
For the finale of the evening, members waited for their ticket to be drawn for the chance to grab some cash in the money machine or spin the wheel for big bucks to take home from the meeting.