Free Press / Lisa Adkison
PTCCU's annual meeting 2018.
As of Tuesday, February 13, 2018
GRANGEVILLE Pine Tree Community Credit Union (PTCCU) held its annual meeting Saturday, Jan. 27. PTCCU is celebrating its 62nd anniversary. It began in 1956 with 14 Grangeville employees of P.L (Prairie Land) & H.P (Haener Planer) Company.
Dave Bodine (PTCCU board chairman) welcomed the members to the meeting held this year at the newly remodeled Event Center at The Gym. Nominating Committee chair Melanie Hawkins presented board candidates for election. Re-elected to serve a two-year term were incumbent directors David Bodine, Rachel Young, Janis Lance and Jerry Zumalt. Joining Bodine, Young, Lance, and Zumalt on the board were Melanie Hawkins, Beth Keeler and Abbie Hudson. Bodine recognized former directors in attendance: Bob Mangold and Lawrence Wassmuth, for their past service. Mr. Wassmuth was also recognized for his longevity having served on the board a total of 31 years before retiring.
Troy Stang, president of the Northwest Credit Union League, gave the keynote address to the members, and noted, “The key difference between credit unions and other financial services providers is the not-for-profit, cooperative structure. Credit unions are owned and driven by the members who use their service. Unlike profit-driven financial institutions which pay stockholders, credit unions return benefits back to their members.” He indicated that PTCCU’s direct member benefit to its 3,334 members is $329,000 and the total economic impact to the community is more than $3 million dollars for 2017.
“Our steadfast dedication to providing the highest standard of service and offering value to our members remains,” noted CEO Dan Goehring. Part of our everyday work is finding new ways to anticipate and meet member needs and to offer products to fit those needs, he said. Goehring credits the just completed computer conversion in enabling PTCCU to expand its product and service offerings. Goehring indicated PTCCU remained committed to the community during 2017 with contributions totaling more than $8,000.00 to local events. In addition, PTCCU conducted separate fund-raising drives for the food banks of both Grangeville and Riggins ($8,400), and the Children’s Miracle Network Hospital ($1,500).
Treasurer Janis Lance announced in her annual report that assets increased from last year more than $5 million, an increase of more than 12 percent from 2016, deposits increased 11.62 percent (an increase of $4.5 million) and loans increased $4.8 million, up 16.5 percent from 2016. The income contribution to member equity was $354,660. Lance reported PTCCU originated more than $13 million in new loan originations and paid more than $289,232 in dividends to members during 2017.
“This solid financial growth allows Pine Tree Community Credit Union to continue bringing value to our members in 2018 and beyond,” said Lance.
The supervisory report was submitted by co-chairmen Donna Forsman and Carol Kinzer. The committee’s report reflected on PTCCU annual operations audit, the Idaho Department of Finance audit and the member account verification, all having excellent results.
Bodine thanked all the members, staff, board and supervisory committee for their strong support of PTCCU over the past year. He also wanted to recognize the center and Joyce Forsman and staff for lunch. Bodine adjourned the meeting stating, “PTCCU net worth ratio of 10.22 percent reflects stability. We continue to be very financially strong and continue to be rated “wellcapitalized” by NCUA. All deposits are NCUA federally insured up to a minimum of $250,000.00 and are backed by the full faith and credit of the United States government.
— Submitted by Dan Goehring