As of Tuesday, February 24, 2015
GRANGEVILLE — Pine Tree Community Credit Union held its annual meeting Saturday, Jan. 31, celebrating its 59th anniversary since its inception in 1956 by 14 Grangeville employees of P.L (Prairie Land) & H.P (Haener Planer) Company.
Jerry Zumalt, PTCCU board chairman, welcomed members to the meeting at the Eagles Hall, which was filled to capacity. A special tribute was presented by Dan Goehring, CEO, in recognition of Sharon Cox, former PTCCU board member who has served on the board continuously since 1994, and did not seek re-election. Nominating committee chair, Janis Lance, presented board candidates for election and re-elected to serve two year terms were: Melanie Hawkins, Joe Cladouhos, and Jerry Zumalt. Bob Mangold was newly elected to the board, succeeding Cox. Joining those board members are Lance, Rachel Young, and Dave Bodine.
Treasurer Lance announced PTCCU financials in PTCCU’s annual report to the members. She reported growth in assets (3.21 Million, up 9.09 percent from 2013), deposits (2.92 million, up 9.35 percent from 2013), and loans (1.81 Million, up 8.82 percent from 2013). The income contribution to member equity was $260,270. Lance reported PTCCU originated more than $10 million in new loans and paid more than $199,000 in dividends to members during 2014.
“This strong financial growth allows PTCCU to continue meeting the financial needs of existing and potential new members who reside in Idaho County,” she said.
CEO Dan Goehring noted in his report to the members that they are the foundation of PTCCU.
“Whether it is a new car a member is seeking, help with refinancing loans to make monthly payments manageable, or setting up retirement, and college accounts for families, PTCCU has the products to help manage your money efficiently,” he said, indicating PTCCU remained committed to the community during 2014 with contributions totaling more than $7,000 to local events such as the Idaho County Fair, Border Days, Festival of Trees, and a scholarship to a local hiagh school graduate.
The supervisory report was submitted by co-chairmen Donna Forsman and Carol Kinzer who presented reports on the PTCCU annual operations audit, Idaho Dept. of Finance audit and the member account verification.
“PTCCU’s net worth ratio of 10.84 percent is a reflection of our stability, and we continue to be a very strong and rated well capitalized by NCUA. All deposits are NCUA federally insured up to a minimum of $250,000.00 backed by the full faith and credit of the United States government,” Lance reported.
Zumalt thanked all the members, staff, board, and supervisory committee for their strong support of PTCCU during the past year, and recognized former directors Joe Bednorz, Bruce Wayenberg, and Lawrence Wassmuth, for their past service.
Before adjourning the meeting, the members had the opportunity to win a variety of raffle prizes, and a 50-50 drawing benefiting the Children’s Miracle Network was held.