CEFCU REPORTS OUTSTANDING ACHIEVEMENTS AND A RECORD $40 MILLION EXTRAORDINARY DIVIDEND IN 2014
At CEFCU’s recent Annual Meeting, the Credit Union reported outstanding achievements for 2014. At the end of the year, assets were more than $5 billion, which is an increase of over 1.9% compared to 2013. Savings deposits and loans outstanding were at historic levels. And, total membership for 2014 grew by over 7,700 members.
CEFCU also distributed a record $40 million Extraordinary to Credit Union member/owners. The amount each member received was determined by dividends earned and interest paid during the first 11 months of the year, as of November 30, 2014.
At the Annual Meeting, Brad Arnold, 2014 Chairman of the Board of Directors, stated, “…CEFCU is one of the strongest financial institutions in the country. This strength is the result of nearly 80 years of both solid business practices and members who grew their business here, at the Credit Union. At CEFCU, we’re here to help members succeed.”
Credit Union Officers, Directors, Supervisory Committee members, and Associate Board members for 2015 will be: Joseph R. Needham – Chairman; Nancy M. Medendorp – Vice Chairman; Robert M. Metzinger – Vice Chairman; Todd C. Gwillim – Vice Chairman; Mark A. Spenny – President/CEO and Treasurer; Brad C. Arnold – Secretary; Todd W. Bryant; David M. Koehler; Angel G. Martinez; Thea M. Robinson; David E. Rossman; Kavita Sachdev; Sean D. Scranton; Grant M. Seshul; and Reed A. Stuedemann. Jennifer L. Quine serves as the Recording Secretary.
Topics discussed at the 2014 meeting included the transition to MasterCard Debit and Credit Cards. With this change, Debit cardholders gained numerous benefits including extended warranty insurance, price protection, fuel rewards, and more. Credit cardholders now enjoy additional options like trip cancellation insurance and ID theft resolution.
CEFCU’s website now features Web-Chat for increased member convenience. This new option allows website visitors swift communication with CEFCU staff during business hours.
Preparations began in 2014 to introduce an enhanced Mobile Banking in 2015. Included will be convenient options such as text banking, smartphone mobile check deposits, and more. Android, Apple, and tablet applications will be available.
Explored new locations for a CEFCU Member Center in the San Jose, California area. Anticipated to open late Fall of 2015, this office will provide even more convenience for members to conduct their financial business.
With assets just over $5 billion, CEFCU serves over 308,000 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 ATM Network; and the CU Service Center Shared Branch Network.