- North: Shore Credit Union members packed.t the Curling Lounge at ‘the North Shore Winter Chib on the eveniig

25 ~ Sunday, May 22, 1988 - North Shore News

«of April 20, 1988, to attend their 47th Annual General Meeting. *

on, Fano

dack ‘anothe! Board President & Chairman, ‘and Ron Davies, Chief Executive O Officer, were pleased to deliver their reports

PAST. RECORDS
ECLIPSED

the largest increase in NSCU's 46-year
~ history and net revenue was up by a

record: ‘breaking year.”

whopping 90%'— from $330,000 in a:

1986 to.$635,000.: 2
: ‘Other ‘numbers of significance

clude: ‘a total of $83 million in loans :

granted — an increase of $13 million .
over last year’s record-breaking pr

duction; net earnings of $452,000 —-"

up almost 16% from the previous year

righ p
nounce that NORCU — NSCU's in- «
-surance subsidiary; had an excellent.
“year as well, Boosted by the’success:
‘its “ competitive’ automobile’: in
surance financing package NORC!

the:

urrently

4,000: MasterCard tran-;

‘ ay .to’a
lete transition toits official new

Reporti

breaking”. Consolidated, Balance Sheet of 1987. epee : £h
From feft-to right at the head table: Jack Bright, Board President’ a Chairman Ron Davies,
Kelly; F Executive Officer, Denise’ ¢ Bemister, Recording Secretary for the AGM and acquelin:

a of the highlights of an AGM, -
of course, is the election of were

and. three” member-nominees,* com:

peted for four vacancies ¢ on the ine- «

member, Board.’ :
“And perhaps the outcome reflected .

a vote of confidence in NSCU’s spec-

“ tacular’ performance over’ the ‘past

‘couple of years. All four incumbents °

Directors‘: Jack’ Bright,’ Gerry '

/\: Brewer, Rick Stachli & Rick Bennett -

were retumed to the Board to serv

lyon: ‘ATMs, to‘access their funds'should mark May:28,,
1988, on’ their’ calendars :

ys 6:30 P.M.; ina 28, GN
:(Total.downtim

‘at 3:00°A.M.;° May 29,1988 5:55.
: (T ‘otal ‘downtim 9.25: hours)

North Shore Credit Union's Board
of Directors presented two special

‘Camied ; the membership heartily ap-
_ proved the following: ©. op

: RESOLUTION. #. FA:

(five parts)

* A. Admit joint share owners to fal :
} memberships: 8
joint spousal accounts, this :
rule allows oth members to vote and |
elzrinates the need for a joint member:

Regarding

Open a separate: membersh!

order ‘to enjoy all the privilege o full

In view of tax rules now being chang- a
‘Sed so that Equity Shares’ can qualify. ~~
: as an RRSP. investment, the limit of“:
leptons once leita

it are a more attractive investment.
Cc Board authority to waive the

the: mandatory: purchase of Equity

Shares “for: specific individuals “or

where’ financial circumstances: snight
cause eoginbers to’ “discontinue, their

eat

wil designat

- Positions, the titles “president” &

change in function or responsibility c
the ‘designated position:
E.’Multiple. Annual Meetings::
Gi ‘the 2 geosraphic saat ee of our

1987.  Ovenutelming

urvey Poe lac Spring ’87) and in
view of the fact that 40% of our bran-

-¢

Yt