We invite Members to attend each year in order meet with their Board of Directors and review the highlights of the previous year. The AGM is a great opportunity to learn more about RCU and ask questions directly to your Board. Procedures for our AGM will be discussed at the meeting, click for links to the 2023 Financial Statements and Annual Reports.
Our AGM takes place on Tuesday April 9, 2024 at 7:30 PM local time (Pacific DST).
The 2024 AGM will be in person at the Revelstoke
Senior Centre, 603 Connaught Avenue.
Revelstoke Senior Centre is connected to the Community Centre.
The 70th Annual General Meeting of Revelstoke Credit Union was held virtually via Teams on Tuesday, April 18th, 2023.
Chair Alan Chell called the meeting to order at 7:30 p.m.
A total of 57 Members and 6 Non-Members were in attendance.
Chair Alan Chell welcomed everyone and introduced himself, and the Head Table as noted below.
| Auditor | David Adams |
| Chief Executive Officer | Michelle Hardy |
| Recording Secretary | Erin Russell |
Michelle introduced the Management team.
We would like to acknowledge and honour the four nations on whose traditional land we gather: the Sinixt, the Ktunaxa, the Secwepemc and the Syilx.
Moved by David Raven and seconded by Dennis Grey to appoint Erin Russell as Recording Secretary.
CARRIED
Agenda and Rules of Order were provided on our website as part of our pre-meeting package.
Moved by David Raven and Seconded by Dennis Grey to adopt the Agenda and Rules of Order as presented.
CARRIED
The Minutes of the last Annual General Meeting were provided on our website as part of our pre-meeting package and were reviewed by the members and approved as presented.
Moved by David Raven and Seconded by Dennis Grey to adopt the Minutes of the last Annual General Meeting of April 12, 2022 as presented.
CARRIED
None.
2022 was a very successful year for RCU, we saw a growth of $7.8 million in our loan portfolio and deposit growth of $10.2 million. The board is very proud to be a part of the credit union family and take our roles seriously. Our board is structured to have regular committee and board meetings and includes further education so as to serve our members to the best of our abilities.
We’re happy to be nearing the end of our branch renovations, we believe in investing in our members and our community.
Michelle thanked everyone for joining us at our virtual AGM. 2022 was a successful year with assets growing to $266.7 million. Capital is stable and strong with the addition of $1.1 million to retained earnings after contributing $200 thousand to Member Rewards and $150 thousand to our Community Giving Projects. We are always excited and proud to share our success with our members and community.
We are continuing to invest in enhancing our digital programs, cyber security, and advisory services. We value and appreciate our members patience as we work through our transition and implement new programs to protect member assets and improve their experience with us. On behalf of the entire team at RCU, Michelle thanked our members for trusting us with their financial wellbeing and for choosing RCU as their local credit union. Michelle also extended her gratitude and appreciation to our staff and Board for their dedication and support.
David Adams presented the auditor’s report, the scope of the audit, and a slideshow comparing assets, liabilities, and members equity over the past 5 years along with income and expenses, and allocation of earnings.
Moved by David Raven and seconded by Dennis Grey that we approve the Auditor’s Report.
CARRIED
Moved by David Raven and seconded by Dennis Grey that we appoint Adams Wooley as our Auditors for the next fiscal year, and that the Board of Directors be authorized to set the fees.
CARRIED
None.
None
Alan Chell, member of the Nominating Committee announced our election results. Our nomination process was conducted by our Nominating Committee in accordance with our rules. Alan congratulated David Raven, Chandra Kerry, and Bruce Granstrom on being re-elected by acclamation.
Alan Chell reviewed our Capital Giving and Community Giving projects that received $150,000 in funding. Member Rewards were paid out in March totaling $200,000.
Chair Alan Chell thanked everyone for coming, and asked Barb Tetrault to make the draw for our $100 Gift Card to a local restaurant. The winner was Collette Poirier.
Alan thanked the staff at Revelstoke Credit Union for organizing our Virtual AGM. Moved by Barb Tetrault and Seconded by Michelle Hardy to adjourn the meeting at 8:08 p.m.
CARRIED
Respectfully submitted,
Erin Russell,
Recording Secretary
Revelstoke Credit Union is a member-owned financial institution with nearly 5,000 members. We have been providing services to the community of Revelstoke since 1953. We offer a full range of products and services including commercial lending, wealth management, and life insurance (through RCU Insurance Services Ltd.) Revelstoke Credit Union is a "Community Partner" committed to contributing to the economic, cultural and social well-being of our community.
Revelstoke Credit Union is open to anyone looking for a more personal way of handling their financial affairs. We invite you to experience the Revelstoke Credit Union difference today!
