FCCU holds annual meeting

First Community Credit Union recently held its 73rd annual meeting at the North Dakota Farmers Union Conference Center in Jamestown. Approximately 250 people attended.

President and CEO Steve Schmitz reported on continued growth of the credit union. Assets are nearly $400 million, making FCCU the largest credit union in the state. Loans and deposits increased at 11 percent and 14 percent respectively, which resulted in an asset growth of 13 percent.

During 2011, FCCU continued progress on branch growth and long-term facilities improvement with the completion of an office remodel at its Bismarck downtown location, a merger with Portland Credit Union, an addition to its Fargo branch and the groundbreaking of a new facility in Napoleon.

“Our success in 2011 was made possible by the continued hard work of our employees, a dedicated board of directors and audit committee, and the support of our more than 30,000 members,” Schmitz said. “Without everyone working together this success would not be possible. I thank each of you for your part and look forward to another successful and prosperous year in 2012.”

During the business meeting, two members were voted onto the FCCU Board of Directors. Bonnie Nelson and Sharman Zachrison will serve three-year terms. Both were former employees of the credit union.

FCCU expressed its appreciation to Gary Orman, board member since 1994, and Allen Samuelson, board member since 2003, for their many years of service and dedication to the credit union. Kermit Larson was appointed chair of the board at the April board meeting.

Tags: local business, business