Thursday, June 5, 2014

CEFCU Reports Outstanding Achievements and a Record Extraordinary Dividend in 2013

At CEFCU’s recent Annual Meeting, the Credit Union reported outstanding achievements for 2013.  At the end of the year, Assets were more than       $4.9 billion, which is an increase of over 2.5% compared to 2012.  Savings deposits and loans outstanding were at historic levels.  And, total membership for 2013 grew by over 5,500 members.

               At the Annual Meeting, Thea Robinson, 2013 Chairman of the Board of Directors, stated, “In recognition of strong member loyalty, combined with staff controlling expenses while making solid business lending and investment decisions, the Board of Directors authorized a RECORD $12 million Extraordinary Dividend to members at year end.  Over the past 14 years, CEFCU has returned $75 million in Extraordinary Dividends to member/owners. ”  Keeping true to the insight that launched CEFCU 75 years ago, it just proves that together, we’re better.

            Credit Union Officers, Directors, Supervisory Committee members, and Associate Board members for 2014 will be:  Brad C. Arnold – Chairman; Joseph R. Needham – Vice Chairman; Nancy M. Medendorp – Vice Chairman; Robert M. Metzinger – Vice Chairman; Mark A. Spenny – President/CEO and Treasurer; Thea M. Robinson – Secretary; Todd W. Bryant; Bruce G. Dimler; James L. Gleich; Todd C. Gwillim; David M. Koehler; David E. Rossman; Kavita Sachdev; Sean D. Scranton; Grant M. Seshul; and Reed A. Stuedemann.  Jennifer L. Quine serves as the Recording Secretary.

               In 2013, CEFCU contracted with MasterCard and staff began working on preparations to transition debit and credit card products from Visa to MasterCard.  Partnering with MasterCard will offer significantly more benefits to members at no cost to them.

               In December, the new Germantown Hills Member Center opened its doors.  The facility is located directly across from the former Jubilee Foods grocery store in the Germantown Crossing Shopping Center.  The free-standing Member Center is 4,500 square-feet and includes Member Service Representatives to process loans, conduct account transactions, and assist both members and business members with all their financial needs.

            The East Peoria Member Center redesign — which included adding walls to the Member Service Representative offices, and dividers at the teller counter — provides enhanced privacy for members to discuss their financial needs and grow their CEFCU relationships. The outside landscaping was also updated, and the member entrance was enhanced.

            With assets over $5 billion, CEFCU serves over 300,000 members through 20 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, cefcu.com; CEFCU’s Mobile website, m.cefcu.com; the surcharge-free CO-OP Network ATM; and the CU Service Center Shared Branch Network.

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