AGM 2017 the year of giving back
The NZCU Employees Annual General Meeting took place on Thursday 2nd November 2017 which saw members and stakeholders come together to hear reports from the chair, management and have their say as well as vote on important matters for the credit union.
Members were eager to hear about the credit union’s year since the last AGM, and how staff and board members were doing their best to maximise results for members.
Chair of the board, Teresa Davies, reported to members a year of growth and delivering on long term business plan objectives, “Despite a challenging year, I’m pleased to report that your Credit Union has continued to grow, demonstrating resilience despite the competitive environment we operate in.”
The credit union has worked hard on the delivery of objectives such as working smarter to deliver sustainable improvements and improving key relationships. Delivering on local members’ needs has been a focus, as well as the way NZCU Employees manages resources intelligently and effectively in order to set a more secure future for member savings.
This has allowed for great achievements like an uptake in home loans, helping 21 families realising dreams of becoming potential homeowners, and partnering with Tower insurance to offer a broader range of insurance options to members including, vehicle, home, contents and travel.
However one issue that continues to be at the forefront of daily operation is delinquency, where a borrower is late or overdue on a payment.
“I encourage members to talk to us first before going elsewhere, or if any circumstances change,” implored Teresa to members.
This sentiment was echoed by Treasurer Paul Eves and General Manager of NZCU Employees Kona Hatalafale who says staff are working extra hard to help members who are in financial difficulty.
“Make contact and we will walk with you through a solution and put a plan in place,” said Kona.
He advised that the most important objective the credit union wants to achieve is to help reduce the financial stress of members, and to “improve financial wellbeing of our members and their families that we serve over time”.
Kona reported that due to some great surpluses made in the years 2015 and 2016, 2017 has more or less been about giving back to loyal members.
“2017 was a year of giving back to our members financially as well as non-monetarily.
“We had a reduction in interest on loans, increased savings interest rates and came up with a wider product range,” Kona said, also announcing a transition of the old banking system to a tier one banking platform for members on the horizon.
Members voted on re-electing Stuart Rattenbury and Vivien Rush was newly elected onto the board.
Formalities concluded by honouring special and well-loved member of staff Sheryl Eddy who has been with NZCU Employees for 20 years.