METROEAST CHAPTER OF CREDIT UNIONS
EXECUTIVE COMMITTEE MEETING MINUTES
January 7, 2010
The regular meeting of the EXECUTIVE COMMITTEE of the METROEAST CHAPTER OF CREDIT UNIONS was called to order by Chairperson Drema Isaac at 9:06 am on January 7, 2010 at Detroit Metropolitan Credit Union.
PRESENT:
Drema Isaac, Fran Pierce, Lisa Pionk, Vickie McIntosh, Michele Myrick, Jan Rose, Jackie Ford.
COMMITTEE MEMBERS EXCUSED:
Gail Hernalsteen, Gary Sylvester, James Shereda, James Safian, Patty Campbell
GUEST PRESENT
Ron Martin, Lauren Vance
PREVIOUS MEETING MINUTES:
Motion was made by Michele and seconded by Vickie to approve the minutes from the Executive Committee meeting held on November 5, 2009. Motion Carried.
Motion was made by Fran and seconded by Michele to approve the minutes from the Planning Session held on November 5, 2009.
TREASURER’S REPORT:
The Treasurer’s Report for November and December was presented by Fran Pierce. Fran also presented a recap of our 2009 events and for the year we made $834 profit on our events. We ended the year with $36,162 in our treasury. Fran suggested that we allocate more to charity. Michele made a motion and Jan seconded to allocate $7,500 for charity for 2010. Motion passed. We would like the Charity Committee to make suggestions for the use of these funds.
We also discussed the possibility of changing the scholarship program to broaden the number of Credit Unions that could benefit from it. Since many Credit Unions are experiencing lower earnings we discussed not limiting the scholarship based on asset size. Lisa will schedule a Scholarship Committee Meeting and will bring suggestions for change to the next meeting.
Michele made a motion to approve the Treasurers reports for November and December and seconded by Jan. Motion passed.
PROGRAM AND EVENTS:
We discussed the Crucial Regulatory Concerns seminar that was held on December 10, 2009. Overall, the program was valuable and we attracted some new Credit Unions to our seminar. Ron suggested that we include the Downriver Chapter in our mailings for seminars. We also discussed the need to have an ending time printed on the flyer as many were not aware that this was a half day seminar.
We discussed the Program Committee’s plan to elect table officers. Drema is going to contact the Program Committee to let them know that we would like the Chapter Treasurer to handle all funds and that they should not elect a Treasurer for the Committee. She will also let them know that we will approve their officers in May after our Annual Meeting for service beginning June 1.
GOV’T & POLITICAL FORUM REPRESENTATIVE:
Michele thanked the group for financially supporting her recent trip to Washington DC. Michele said that they had an impact and lawmakers were definitely listening to our concerns regarding the overdraft legislation. They indicated that they will negotiate with CUNA on this issue.
We discussed the plan for Legislative Breakfasts for 2010. The league asked us to hold 3 in 2010, but we will hold 2. The first will be in March (tentatively March 19) and the second one will be in October (tentatively October 15).
We discussed the possibility of forming a PAC Fund Raising Committee. Michele is going to put together a job description for the Committee and we will discuss further. Michele reminded everyone that the GAC is in February and that there are CURE scholarships available to help with the cost.
We discussed the fundraiser that we will be holding this year at Bingo. We plan to sell tickets for $5 each to win an overnight stay at one of the Downtown Casinos. We need to be sure that the flyer tells participants to bring $5 for this purpose.
CU DIFFERENCE CAMPAIGN:
Lauren discussed some of the results of the research that was conducted to measure the effectiveness of the campaign. Since 2004 there has been an 8% increase in unaided awareness of Credit Unions and a 7% increase in total awareness. There was also a 26% increase in believing that everyone is eligible to join a Credit Union.
MCUL REPRESENTATIVE:
Ron Martin distributed and discussed various MCUL affairs via a handout report detailing the information. Ron announced that Glenn Ray has replaced Mike Bridges as Director of Public Affairs. Ron also mentioned that $500 is once again available for small asset sized Credit Unions.
MCUL DIRECTOR:
Vickie reported that The League Board met on December 8. The Board approved the 2010 Budget and the 2010 Strategic Plan. The 25% dues reduction is in effect for 2010 for Credit Unions who returned the form indicating affiliation for 2010. We ended 2009 with approximately $44 million in member net assets. Vickie reported that there were 14 Credit Union mergers within the state in 2009. We had discussion regarding the reduced dues revenue that mergers cause. We discussed the League Board’s plan to overcome that by operating in a manner that will allow us to increase Member Net Assets by 2% per year and relying on the excellent profitability of our for profit subsidiaries.
CHARITY COMMITTEE:
The Charity for this month is Goodwill Industries Pay it Forward program. There was no report from the Committee.
CHAIRMAN’S REPORT:
Drema appointed the Nominating Committee of Jan Rose (Chair), Gary Sylvester, and Fran Pierce.
OLD BUSINESS:
We clarified the expectation that Committees will elect their Chair and it will be approved by the Executive Committee in May to be effective June 1.
NEW BUSINESS:
We discussed the need for each Committee Chair to be present at the Executive Committee meeting and to present a written report. Drema will send out the request for agenda topics on Thursday one week prior to our meeting. Everyone will get Lisa their written report and agenda topics by Tuesday before the meeting and Lisa will send them out to the group with the agenda.
NEXT MEETING:
February 4th at 8:30 am. (notice the time change) at Christian Financial. Dave Adams will be our guest at this meeting.
ADJOURNMENT:
A Motion was made by Fran and seconded by Jan to adjourn this meeting at 10:35 am. Motion carried.
Minutes taken by Lisa Pionk, Secretary.