On Tuesday, April 17, all members are invited to Verity’s 85th annual meeting and learn about the state of the credit union.
Holding an annual meeting is common for credit unions because all credit union members have a say in what happens to their money and how the credit union operates.
Credit unions are financial cooperatives, meaning all members are owners. There are no stock holders–members ARE the share holders. There are no profits being disseminated to board members. As not-for-profit financial institutions, credit unions reinvest profits back to members through lower fees, higher deposit interest rates, lower loan rates, and other unique benefits.
And, most-uniquely, credit unions are democratically controlled. The board of directors are volunteers who are elected to their positions by Verity’s members.
A great way to experience all of those things that make credit unions unique is by attending the annual meeting. During the gathering, Verity’s CEO John Zmolek will talk about how things went last year as well as provide updates to what we’re doing to grow the credit union. The board of directors will share their vision for the credit union and how they are directing and supporting Verity’s staff to fulfill those visions. Also at the annual meeting, new board members will be approved–this year there are the same number of candidates as open seats on the board of directors and supervisory committee. There will also be open time for members in attendance to ask questions, offer feedback, and share their innovative ideas…