Tuesday, May 31, 2011

CEFCU Reports Record Achievements in 2010

At CEFCU’s recent Annual Meeting, the Credit Union reported record achievements for 2010.  At the end of the year, Assets were over $4.4 billion, which is an increase of over 5% compared to 2009.  Savings deposits also increased over 5% from last year, and loans outstanding grew 1%.

At the Annual Meeting, Robert Metzinger, 2010 Chairman of the Board of Directors, stated, “… the continued support of members like you, along with the commitment to provide quality member service from your volunteer Board and professional Staff, resulted in solid growth for your Credit Union.

Todd Bryant and Matthew Jolliff were named as Associate Board Members, and CEFCU members re-elected Patricia Hampton, Richard Hermann, David Koehler, and Robert Metzinger to the Board of Directors.

Credit Union Officers, Directors, Supervisory Committee members, and Associate Board members for 2011 will be:  Bruce G. Dimler – Chairman, Patricia J. Hampton – Vice Chairman, Thea M. Robinson – Vice Chairman, Helen J. Young – Vice Chairman, Mark A. Spenny – President/CEO and Treasurer, Robert M. Metzinger – Secretary, Brad C. Arnold, Todd W. Bryant, James L. Gleich, Richard G. Hermann, Matthew D. Jolliff, David M. Koehler, Nancy M. Medendorp, Joseph R. Needham, and Reed A. Stuedemann.  Therese Peck serves as the Recording Secretary.

Credit Union officials reflected on highlights from 2010.  In recognition of strong member confidence, combined with staff controlling expenses while making solid lending and investment decisions, in December, the Board of Directors authorized a $7 million Extraordinary Dividend.  Over the past 11 years, CEFCU has returned $50 million in Extraordinary Dividends to member/owners.

During the year, CEFCU opened a Member Center in Eureka, Illinois, inside the IGA Grocery Store on Center Street.  This Member Center includes a full-service teller counter, Member Service Representatives, a Fast Track Teller, and a Money Center 24 ATM conveniently located in the grocery store parking lot.

Construction was completed on the new Sheridan Village Member Center in Peoria, Illinois, in March 2010.  In Springfield, Illinois, the first LEED-certified, “green” Member Center will open in the fall of 2011.  And, construction will begin this year on the new Chillicothe, Illinois, Member Center, which is scheduled to open in early 2012, and will also be LEED-certified.

Developed in 2010, CEFCU’s new Private Student Loan was made available in 2011.  This new loan product offers college-aged members, who attend any college or university, another financial option after federal aid, scholarships, and grant monies have been exhausted.        

With assets totaling over $4.5 billion, CEFCU serves 280,000 members through 19 Central Illinois Member Centers and 3 Member Centers in Santa Clara County, California; the CEFCU Financial Center; the Money Center 24 ATM Network; CEFCU’s website, www.cefcu.com; cefcu.mobi; the surcharge-free CO-OP Network ATMs; and the CU Service Center Shared Branch Network.

         
 

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.