MUSKEGO, Wis.– Corporate Central Credit Union held its Annual Meeting at the Kalahari Convention Center in Wisconsin Dells in conjunction with the Wisconsin Credit Union League’s Annual Convention & Exposition.
Chris Felton, President/CEO of Corporate Central noted, “Your patronage, commitment, and partnership with us – your credit union – drives us to be better, to innovate and to move with purpose.”
Addressing the membership in attendance, Chairman Kim Sponem reported, “With a strong financial position and growing membership we can’t help but be excited about our future together. Earnings and regulatory capital ratios remain at the very top in the nation. We also continue to pay the highest capital investment rates across the country.”
Corporate Central’s retained earnings ratio closed the year at 3.68%, with a year-end core capital ratio of 9.39% versus the regulatory well-capitalized requirements of 1.50% and 5.00% respectively.
Felton added, “Our strength affords us the opportunity to drive innovation and efficiencies. These efforts led to significant efficiency gains that translated to the elimination of over 100 service fees and fee reductions.”
Felton’s membership address focused on Corporate Central’s strategic initiatives as he announced the launch of two new Credit Union Service Organizations (CUSOs). Their technology CUSO EmergiFi will offer competitive and innovative cloud-based technology services to credit unions across the country. The corporate’s balance sheet optimization CUSO QuantyPhi will help members maximize performance by balancing risk and opportunity. Furthermore, the corporate’s CUSO InterLutions, formed in 2015, continues to help credit unions transition to a unique collaborative healthcare solution proven to reduce costs and lower risk. Felton played a brief video during his address to help members get a feel for how the corporate views their place in the credit union movement and where they are heading. Watch the video.
During the elections report, Peter Paulson – Corporate America Family Credit Union, Sally Dischler – Heartland Credit Union and Greg Hilbert – Fox Communities Credit Union were declared Directors of Corporate Central Credit Union for a three-year term.
At the Organizational Meeting held immediately after the Annual Meeting, the four Board members comprising the Executive Committee were determined. Chairman, Eric Chrisinger – Co-op Credit Union; Vice Chairman, Sally Dischler – Heartland Credit Union; Secretary, Ronald Vogel – Fort Community Credit Union; Treasurer, Jay Magulski – Landmark Credit Union.
Following the Annual Meeting, members also participated in a Town Hall Meeting led by Chris Felton and Brett Thompson, Wisconsin Credit Union League President/CEO.
Members in attendance gained insight from these two industry leaders on the state of the industry. This included information on strategic initiatives and both opportunities and challenges facing the credit union movement. The joint meeting made a clear statement on Corporate Central’s dedication to partnering and collaboration; core value pillars of the credit union movement.