Why I am Excited to Attend Our Annual MeetingComment January 16, 2013 by Triangle Credit Union
On February 9th, 2014 my Triangle Credit Union colleagues and our members will gather for what some may see as perfunctory and rather dry business. I, on the other hand, see the chance to play a part in history and witness democracy in action.
Since joining Triangle as an employee and member, I have entrusted this Credit Union with more than just my career moving over my checking, savings, IRA, vehicle loan, and my three kids’ savings accounts from a big bank. I (and all of our members) have a vested interest in hearing the Chairman’s Report, the Treasurer’s report, and the Supervisory Committee report. It’s more exciting than you may think. We get the opportunity to participate in what our financial institution decides to do with our money – my previous institution’s shareholders were all overseas and never thought to invite me to any of their parties.
We’ve been at this for a while now – this year’s meeting will be our 75th. On January 27th 1940, our predecessors gathered at the old O’Donnell Hall on High Street in Nashua. They reported that membership had risen to one-hundred and eighty-one, assets totaled $2,149.46, and forty loans totaling $2,197 had been made. Twenty-two loans totaling $1,054 had been paid back, and as the Credit Committee report noted, only one application had been declined. Though the numbers have grown significantly, our annual meeting traditions remain intact. This year, as in years past, we will hear about the organization’s successes and challenges and elect and appoint officials and volunteers who will give their time to assist the Credit Union management in guiding our organization into the future (all over a lovely dinner to boot!).
Credit Unions are a vital economic counterpoint to shareholder owned banks. It is precisely their democratic nature, evidenced by the annual meeting that makes them so vital. I imagine in this age of renewed interest in corporate social responsibility and ethical behavior that we will see this humble model of transparency and democracy begin to influence other industries.
Ian - eCommerce Content Specialist