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ACU reports financials at annual meeting

Published: Monday, May 5, 2014 11:19 a.m. CDT

Advantage Credit Union officials reported solid financial results at the credit union’s 76th Annual Meeting, held Saturday, April 26, in Newton. Additionally, there was the election of four members to key volunteer positions on the ACU Board of Directors.

“By participating this evening you are exercising the most important right you have as a member that bank customers do not have.  We, the board of directors are elected by you to represent all member-owners,” board chairman Ron Jones said while addressing the members in attendance.

The chairman detailed the solid financial results from the past year: 

• Assets grew to $56.8 million.

• The credit union now serves more than 5,400 members.

• More than $18 million was loaned to members in 2013.

• Responsible lending continues as evidenced by a loan delinquency rate of .91%.

• The credit union earned just over $568,000 in 2013.

The final part of the meeting was the election and announcement that four volunteer members were elected to the board of directors. Elected to the board were incumbents Kim Clark, Jennifer Patty, Jeremy Vesely and Hollie Vanwyk.  Nine volunteer directors will serve all Advantage members and help set the vision and policies of the credit union.

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