Almost 600 Steinbach Credit Union (SCU) members packed the Steinbach Bible School gym for SCU's annual general meeting Tuesday evening.

CEO Glenn Friesen addresses the Steinbach Credit Union Annual General Meeting.

Along with announcing increased assets of $4.25 billion, a 6% increase, and cash-back dividends of $7.5 million for members, CEO Glenn Friesen is optimistic that this positive growth will continue for SCU in the next few years to come. “We've had a good run, and I think we're going to continue to have a good run and a lot of it's our members. If we continue to serve them well, we'll do well.”

SCU members vote for three out of four possible candidates to the Board of Directors.SCU members voted in new-comer Maria Reimer to the SCU Board of Directors, along with incumbents Doris Martens and Alan Barkman. Incumbent Ted Falk was not re-elected to the board.

S-C-U Board Second Vice Chair, Henry Van de Velde explains that 12 by-law amendments were adopted at the meeting to bring SCU's by-laws up to date according to current regulations. Van de Velde said the updated by-laws would not affect day-to-day banking for members, but mostly affects the SCU governance. Van de Velde highlights a few of the adopted amendments.

“It was a wide variety of areas which includes voting, the ability to fill a vacancy if one of the board members was to leave for some reason or be in a conflict and the rest of the directors could temporarily appoint someone to help with the workload. There's by-laws around associate memberships which is something new to Steinbach Credit Union's systems.” 

While waiting for voting ballots to be counted, a few lucky members enjoyed playing “Roll To Win” where participants won anywhere from $50 to $1,000.

The evening concluded with CEO Glenn Friesen announcing that construction for the new Steinbach head office building is to be completed this July.

A lucky member had a chance to roll the big, fuzzy, pink die and won $1,000.