sJU5 398im5WjrIJirbeG-Credit Union AGM Booklet 2024 - Flipbook - Page 42
42 Credit Union AGM Booklet 2024
Conclusion
•
The 昀椀nancial year ending 2023-2024 saw a reduction in loan amounts but an increase in the volume of loan activity.
Competition increased from commercial banks as they matched the credit union’s interest rates to prevent additional
members from switching to the Credit Union in the volumes they did in 2022-2023. Members' demand switched to
consumer loans such as land, vehicles, and unsecured loans.
•
The Loan Of昀椀cers participated in over 3,200 loan interviews despite staff turnover. The turnover in staff contributed to
the increase in complaints as the team strived to manage the increase in loan requests. The Credit Union’s focus on
excellence in service to members has not wavered, and we are actively sourcing additional of昀椀cers and administrative
support for the Team. Plans to implement an online loan application system during the 昀椀rst quarter of 2025 will assist in
streamlining loan processing and establishing key performance indicators for loan processing time to manage member
expectations.
•
The Credit Committee wishes to sincerely thank its Members, the Board of Directors, the Supervisory Committee,
Management, and Staff for their con昀椀dence in the Committee's ability to deliver our 昀椀duciary responsibilities during the
past year.
Attendance of Meetings
Credit
Committee
Board
18
5
Chairman
38
3
Vice Chairman
41
Ida Jane Ebanks
Member
Aspah Scott
Member
Chairperson
Statutory
Year Elected
-
Retired
6
1
2020
4
2022 - 2024
2
1
2020
4
2022 - 2024
13
-
-
Retired
7
Term Limit
Secretary
38
1
1
2021
3
2023 - 2025
Keehon Moore
Member
25
1
1
2023
1
2023 - 2025
Mark Boiteau
Member
24
1
1
2023
1
2023 - 2025
Louise Christine Burke-Richardson
Uche Obi
Keisha Yates
Position
Previous
Chairman
meeting
1
Years Served Period Serving
Term Limit
2022
CHAIR’S
PHOTO HERE
Uche Obi
Chairman
