Hudson Bay Credit Union held its 55th Annual General Meeting on April 15, 2010 at Brooks Hall. 

Financial highlights for year-end December 31, 2009 were reported at the annual general meeting.   The credit union reported they did not experience the huge growth in assets of 2008, but despite the economic challenges, their assets totaled $57,974,191 up slightly from 2008’s total of $57,308,966.  Hudson Bay Credit Union reached a milestone in 2009 with their loan portfolio reaching the $40 million mark.
  
The credit union reported that they must continue to be focused on building their capital base to ensure our credit union remains strong in the long-term.  In the best interests of their members, and in order to maintain their financial strength and capital position, the Board of Hudson Bay Credit Union made the decision to forego payment of a patronage for 2009.    After carefully reviewing the credit union’s 2009 financial results, the Board made this prudent decision to ensure the credit union’s capital is maintained in a strong position for the future. 

Lucille Tetarenko, General Manager presented a number of graphs and charts that highlighted the credit union financial trends over the last number of years and demonstrated the progress of Hudson Bay Credit Union.  It was also reported that the financial statements can be found on the credit union’s web site at www.hudsonbaycu.com.  2009 Year in pictures can also be found on the web site.

Service award pins for Hudson Bay Credit Union board service were handed out to John Daisley for his 20 years of service.  Lucille Tetarenko presented and congratulated staff receiving service awards.

– John Daisley receiving his 20 year pin from Caron Hallen

 Cindy Binkley receiving 30 years of service pin from Lucille Tetarenko

Laura Hahn receiving 20 years of service pin from Lucille Tetarenko
The Credit Union also updated the membership of board activities for 2009 and the committee work the board is involved in.  The board was commended on their commitment to the credit union and the community.

The 2010 board of directors will be Dean Smith, Conrad Paskell, Darcy Parkman John Daisley, Caron Hallen, Denis Van Dale, Larry Sieben, and Myra Paslowski.

Focusing on being Green continued to be an important strategy for Hudson Bay Credit Union and they shared some of their successes at the annual meeting.
Everyone ate a delicious supper served on glass plates to save on paper plates and each attendee received a recycled shopping bag.  The door prizes were also related to growing green as the credit union announced the month of April as their Growing Green month.  The High School Green Committee helped clean up after supper and it was reported at the meeting that their partnership with the credit union continued during 2009 and will move forward into 2010.  One of the first items in 2010 will be creating the credit union’s “Growing Green” web page which will highlight the high school’s green committee’s activities and community support.  The credit union also reports that within their offices – they continue to reduce, reuse and recycle as part of their “growing green” initiative and use a staff committee organizing the in-house activities and the credit union will continue to be a drop off point for recycling plastic bags

The credit union announced several new products in 2009 which included developing a “Green” Account Package plus a “Value” account package for members that do minimal transactions within their account.  The credit union also introduced “Mobile Banking” was whereby a person can text their account at the credit union and find out balances and other features at anytime from anywhere – 24/7.  Tax Free Savings Accounts were added into their products and services to help members take advantage take advantage of saving tax-free

Lucille Tetarenko, General Manager stated that “As a community based organization, Hudson Bay Credit Union is proud to contribute and be a leader in supporting local community events.”   The Credit Union reported that they continue to contribute dollars and support to the community and indicated their staff also donated many volunteer hours to the community and its organizations.   Highlights for 2009 included raising $5,421 through hosting the 6th annual golf tournament/silent auction for Hudson Bay Figure Skating.  The credit union general manager, Lucille Tetarenko acknowledged credit union staff volunteering for organizing the events and the many local businesses that participate by attending or providing silent auction items for the golf tournament. 
Another highlight this year was the Credit Union Day celebration.  Hudson Bay Credit Union celebrated Credit Union Day on October 15, 2009 by hosting a community fundraiser for the Hudson Bay Sports Concession.  The Credit Union matched donations of $1,559.80 for a grand total of $3,119.60.

At the 2009 Credit Union Day celebrations, the credit union announced their new brand – “Your MONEY, Your CHOICE, Your CREDIT UNION”.   This brand was used by credit unions across the world for International Credit Union Day and Hudson Bay Credit Union continues to use it into the future as it embodies their local credit union’s co-operative and community values.  

The credit union’s members elect our local board that sets the direction of the credit union and all decisions or projects undertaken by Hudson Bay Credit Union are done locally.  The credit union’s local staff serve our members right here in our community.  When members see staff working in back office positions, it’s because the staff is both responsible for serving members plus responsible to perform head office work such as marketing, compliance, lending and completing projects such as our 2009 banking conversion.  The general manager stated that Hudson Bay Credit union is it’s own head office and with their local board ensures their decisions support our members, your credit union and your community now and into the future.

It was reported that staff worked on the banking conversion preparing for several months, with the actual conversion taking place in June of 2009.  The staff was committed to keeping members apprised of all changes pertaining to the conversion as they occurred.  Their conversion team consisted of Cindy Binkley as lead, Barb Kezema, Cathy Ryan, Chera Guderyan, and Cheryl Holaday.  Many of their other staff helped within their work areas plus trained on their specific areas.   Hudson Bay Credit Union was also fortunate to have other credit unions help them by allowing their staff to attend the branch to learn about the banking system prior to conversion.  Hudson Bay staff in turn has helped other credit unions with their conversion as part of their co-operative values.

The credit union reported they added staff to ensure our conversion was completed smoothly and member service remained top notch during the conversion process.  During 2009 you would have seen many of our part-time staff in the offices full-time and other staff in different roles as we trained and prepared for our banking system conversion.  Torrie Dyck, our summer student helped the credit union throughout the summer on our banking conversion and serving members and in the fall the credit union said good-bye to Audrey Zubrowski, long-term staff member. 

Lucille Tetarenko, General Manager thanked the present staff and retired staff for their dedication to member service and our banking conversion throughout 2009 and continued hard work, training and service to our members in 2010.

Hudson Bay Credit Union has been a part of your community for 55 years and continues to be committed to your community. 

Conrad Paskell, President thanked the members for their Hydro Therapy Tub donations made the evening of the annual general meeting.  Members donated $945.22 and with the credit union matching – a total of 1,890.44 was raised for the project.

The Board of Directors, Management and staff thanked their valued members for their loyalty and support in 2009.  With their support the credit union will continue to provide financial products and services and contribute to the community in 2010 and beyond.