Members vote

New directors
elected

orth Shore Credit Union members elected three
directors at the recent 48th Annual General Meeting
held in North Vancouver and at Whistler.

Winning membership approval from a field of eight nominees
were (from left toright), Roger Lundie, Fyfe Brown and Brian
Comey.

Fyfe Brown, a resident of North Vancouver for the past 17
years and a North Shore Credit Union member for 15 years owns
apublic relations company. North Shore resident Roger Lundie
is a chariered accountant, and Brian Comey, an employee of
General Motors Canada and a director since 1971.

C.U. future

From page 1
youngest daughter, Tracy, has just
completed her first year at the
University of Calgary and will be
transferring out to continue her
university education here.

We asked Mr. Keller to provide a
brief outline of the key plans and
priorities for the future.

“Firstly, may I say how pleased
and proud I am to be your new Chief
Executive Officer.

Aithe outset, I wantto pay a special
tribute to Ron Davies (our retired
Chief Executive Officcr), who
provided such excellent leadership
over the past eighteen years which
brought about the tremendous growth
and progress the Credit Union has
seen to date.

We are nearing 50 years of service
(1991) to the members and the
community and can justly take pride
in the accomplishments of the past.

The future however, is full of
excitement and promise. We have a
very sound and secure organization;
excellent leadership from our Board
of Directors; and a very competent
and deilicated staff team which will
ensure a coniinued dynamic,
innovative and service-oriented future
for you, the members.

The future will also be challenging.
We see increasing competition; a
new age of information, both need
and access; rapidly expanding
technology; and the need for much
more research, development,
marketing and communication.

. Ourconcentration will be toachieve
the greatest advantage and
development from these factors, with
the primary goal and focus to be in
providing a very high level of
“quality” in products to you, the
member; delivered with the highest
degree of “excellence” we can
achieve; and provided by a warm,
friendly, competent and professional
staff team.

As I noted in my brief remarks at
our Annual General Meetings, during
the balance of 1989 we will be
developing and implementing a
planning process that will move us
aggressively and effectively into the
1990's.

The primary focus and key
priorities thus developed willinclude

. the following areas;
- 1. to provide a clear direction, plan,

goal and guideline for the future, to
ensure a sound and effective
organization representing you, the
members, into the future,

2. to provide innovative and high
“quality” products and services to
enableus toeffectively meet theneeds
of our members into the long term
future,

3. to concentrate on “excellence” in

service delivery tomembers, inevery -

Tespect; and to ensure we have the
facilities and tools to do so
consistently and effectively,

4. to ensure we havea very dedicated,
competentand professional staff team
to serve you; and who are also
interested ia ongoing self-
development,

5. to ensure we can consistently be
very competitive in all products,
services, rates, fees and charges; we
have already been working hard on
and achieved much in this regard,
6. to build fong term financial
strengths through reserves and
member equity shares to assure we
have the resources to consistently
provide those things we have noted
earlier, and,

7. toensue we are alwaysi innovative,
dynamic,. progressive and totally
committed to serving the needs of
our members effectively...

Inclosing, may I repeat that I feel

we have a very exciting future ahead
and tremendous opportunities for
further development, with ; your’
continued loyal support. °° -
_ The real success of our Credit
Union is due to the. continuing
dedication by and loyat support of
you the members. _-

We wantyou toshare in and benefit ;
from the development and results of
the future and therefore ask you to
support the Credit Union—your
organization—inevery way youcan.

Finally, i want to congratulate our
staff on their excellent performance
to date; the warm welcome they have
given us; and to challenge them to
always be the besi they can de.

look forward tothe exciting future
ahead and to working with ail of you
io achieve those things to which we
have committed ourselves.”

4 NscU posts a another good n news s year

orth Shore: Credit ‘Union
‘members met to hear the

. good fiscal news about last year’s ~
- Shore Credit Union grew to 36,700 -

performance at.the 48th Arnual
General Meeting held April 25 in

- Whistler and April 27 in North:

B. Vancouver, In his’ report: ‘to.

B: membership, Board Chairman,
Jack Bright, announced last year’ S$.
j -net earnings were up-by 106 per. -
“cent to $934,000 compared: to.
q $452,000 in“ 1987. The Credit -
A Union has achieved a doubling in
. net earnings for three consecutive
§ - years. These increased earnings .
§ have contributed significantly to .
§ the future soundness and security
of the. Credit Union, while ‘also «..
“North.
“Credit .
continues to grow.
Financial : self-.
, Service

4 providing astronger base for future,

B development. Assets rose to $276 -
a” million for an increase of nine per.
§ cent over the 1987 total of $252
@ million, =~

Loans advanced to members

H rose by 28 per cent to total:$106
4 . million in 1988: Since inception, ~~.
& North Shore Credit Unici: has
@ © granted over $800 million worth .-
4. of loans to: members ‘within the-.
f : community, Member’sequity has

- improved from 2.5:-per cent of

‘ assets.in 1987. to 2.75 per cent.
B : Reserves: also increased from:
E $6,395,000 in 1987 to $7,542,000 >.

-C.M.H.C.

rebates.”

and unappropriated surplus reserves

. from $1,914,000 to $2,197,000.

Active membership in the North i
by the end of last. year. The

membership holds 113,000accounts...

A whopping 5,400,000 transactions ”
‘were processed in 1988. _
NerCu Insurance Services had ‘a
very successful year, their best yet,
with a total net profit of $154,000. :

New services introduced during the
yearincludedaself-directedR R.LF.

insurance - mortgages,’ |

Officer: Ron: Davies review: the
financial statements and offer his

groupmortgage insurance, anda full-- Ani

time internal ‘auditor: ..: The: list: of

- unique. services

pioneered’ by |
‘Shore’
Union

wo ES:
recognized. and

‘rewarded: with

service: charg

oni
automatic. teller
mi aveche in é.

‘transactions ‘and

MasterCard
transactions.” No °:
fee .: mortgage
renewal, sel