LOCKPORT, N.Y. – For Cornerstone Community Federal Credit Union the more members that attend its annual meeting the better.
This year over 270 members were in attendance to mingle with the board, CU executives and hear the latest updates on their credit union.
Up for re-election and running unopposed were Gabriel McCaughey, director; Sally Moore, secretary; and James Szatkowski, treasurer. Continuing their term in 2006 are: David Nemi, chairman; A. Angelo DiMillo, first vice chairman; Edwin Rosier, second vice chairman; and directors John Tolli, James Budde, and Molly Cocco. According to Cornerstone President/CEO Ann M. Brittin, 2005 was a very profitable one-allowing for a bonus dividend at year-end. Last year marked the launch of the Alert Me credit report monitoring program, plus Visa Travelers Checks, Gift Cards and TravelMoney Cards. Brittin says the tiering of dividends on money market accounts and regular Share Certificates, along with several Share Certificate specials, also helped meet the dynamic needs of Cornerstone members. "The credit union's financial strength can be attributed to the success of our indirect lending program and overdraft protection program, as well as management's overall ability to identify both profitable and desirable products and services for the membership," said Szatkowski.
Looking ahead, Brittin announced new 2006 initiatives to encourage growth including health savings accounts, electronic statements and transaction software upgrades. In addition, plans are underway for a new branch location in western Niagara County.
The meeting was also a great opportunity for chairman Nemi to recognize the dedication and efforts of volunteers, as well as, past and present Cornerstone employees. Tony Pagliei, who retired from the supervisory committee last year, and the late Jack Kyzmir, one of the original charter members of the credit union, were honored at this year's annual meeting. Also recognized for their dedication were volunteers with service of 10 years or more and several 2005/2006 retirees.
"Our efforts remain ongoing to meet the dynamic needs of established and prospective members through an expanded product and service offering, and to make sure that all of our efforts provide for a prosperous 2006," said Brittin.
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