As of Tuesday, February 9, 2016
GRANGEVILLE Pine Tree Community Credit Union held its annual meeting Saturday, Jan. 30, in Grangeville. PTCCU is celebrating its 60th anniversary since its inception in 1956 by 14 Grangeville employees of P.L (Prairie Land) and H.P (Haener Planer) Company.
Dave Bodine, PTCCU board chairman, welcomed the members to the meeting at the Eagles Hall. Nominating committee chair, Jerry Zumalt, presented board candidates for election and re-elected to serve two-year terms were: Dave Bodine, Rachel Young, and Janis Lance. Joining Bodine, Young, Zumalt and Lance on the board are Bob Mangold and Melanie Hawkins. Zumalt also recognized former directors in attendance, Joe Bednorz, Bruce Wayenberg and Lawrence Wassmuth, for their past service. Wassmuth was also recognized for his longevity, having served a total of 31 years on the board.
Treasurer Lance announced in her annual report to the members growth in assets ($4.2 million, up 11 percent from 2014), deposits ($4 million, up 11.9 percent from 2014), and loans ($3.4 million, up 15.4 percent from 2014). The income contribution to member equity was $244,271. Lance reported PTCCU originated more than $11 million in new loans and paid more than $226,000 in dividends to members during 2015.
“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, “PTCCU’s 60th anniversary is a momentous milestone, and an amazing achievement for the credit union.” He credited the members both new and existing for their support enabling PTCCU to expand its product and service offerings. He indicated PTCCU remained committed to the community during 2015 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 high school graduate.
“In addition we conducted separate fund-raising drives for the Red Cross, the Food Bank and Children’s Miracle Network,” he added.
The supervisory report was submitted by co-chairman 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 net worth ratio of 10.33 percent is a reflection of our stability,” Lance added. All deposits are NCUA federally insured up to a minimum of $250,000 backed by the full faith and credit of the United States government.”
“Although the PTCCU continues to operate in challenging economic times, and we have observed loan delinquency rates increase, being focused on providing service and innovation to our membership has enabled us to remain fiscally strong and in a sound financial position,” Bodine said.