Credit Unions in Imperial, Holyoke note profitable year, elect board members

If you ask Randy Hale, president of Holyoke Community Federal Credit Union, his organization is “all about people and helping people.”
The credit union, after all, was first created in 1938 by residents cooperating, stepping up in lieu of the banks to provide financial services in Holyoke, Colorado.
By the late ‘90s, it added a new branch in Imperial, appropriately titled Imperial Credit Union.
And, if the organization’s annual meeting is any indication, ending the day with chances to win cash either by catching flying dollar bills in the Money Machine or spinning the Wheel of Fortune certainly doesn’t hurt.
Moving into its 85th anniversary, the credit union brought together 160 people from the Holyoke and Imperial areas to the Phillips County Event Center Monday evening, both to update its members and elect people for its board of directors.
Following a dinner provided by Happy Jacks, Secretary Brenda Krueger regained her spot without opposition and Imperial candidate Jill Mays joined the board, also unopposed.
Krueger, a member of the credit union for more than 50 years, acts as part of a family-owned farming corporation and is a 15-year veteran of the Holyoke School District.
Mays, who considers herself “chaos coordinator” in her role in the administrative office of Chase County Schools – eight years and counting – joined the credit union in 2001. She also served as a teller and loan officer at Imperial Credit Union.
The credit union, following a “profitable year,” in the words of Hale, has experienced a more than 10% increase in total assets from 2021-22, or a $41.2 million to $45.7 million jump.
Total loans approved by the organization equal an estimated $9.6 million, with about $3.8 million through consumer loans and about $5.8 through real estate loans.
He made special note of outgoing board member Jan Graham of Imperial, who volunteered for the credit union’s outside loan officer committee after retiring from the Imperial branch as a loan officer.
When that committee disbanded, Hale continued, she rejoined again as a supervisory committee member. Then, she kept a spot in the organization on the board of directors.
“It makes me sad to say that Jan is up for reelection this year and has decided to release her seat at the board table,” he said. “Please help me give a big thank you to Jan for her service.”
While Hale projects a continued profit going into 2023, he expects it to be smaller, due to the uncertain financial climate following the collapse of the Silicon Valley and Signature Banks.
“The increase in interest rates has caused the money supply to tighten up,” he said.   

     “As the money supply tightens, the daily operations of financial institutions will need to modify. I expect member deposits to continue to be in high demand.”
That said, both the Holyoke and Imperial branches have remodeled their look and do not plan on moving anywhere. Their plan, Hale said, is “solidify, fine-tune, strengthen and modify.”
“After all,” he said, “your future is our future.”
For more information on the credit union, go to hcfcu.org.