Whitefish, Mont. – May 8, 2019 – Whitefish Credit Union’s 2019 Annual Meeting brought more than 200 members from around Northwest Montana to Grouse Mountain Lodge in Whitefish, Montana. Highlights of the meeting include reports from Chairman of the Board, Lyle Phillips, President and Chief Executive Officer, Jim Kenyon, and Senior Vice President and Chief Financial Officer, Mike Blubaugh. A link to the Credit Union’s 2018 Annual Report is below.
Chairman of the Board, Lyle Phillips, gave an overview of the board’s function and provided examples of its duties and responsibilities. He emphasized the importance of diligent board oversight for the long-term health of Whitefish Credit Union and explained the board’s role in declaring dividends for members. Mr. Phillips announced that in 2018, the board declared the highest dividend paid to members since 2009.
Senior Vice President and Chief Financial Officer, Mike Blubaugh provided a high-level overview of the state of the national economy and international economic events, and their impact on Whitefish Credit Union’s financial performance in 2018. He also presented a more detailed analysis of the Credit Union’s balance sheet, which saw an overall increase in assets and net income compared to the previous year.
President and Chief Executive Officer, Jim Kenyon, provided members insight into key organizational initiatives and performance highlights, focusing on the Credit Union’s employee engagement initiatives, its positive impact on local communities, and strong lending performance in 2018. He shared that consumer loans experienced especially strong growth with the addition of new products that provide members low rates, smaller monthly payments, and flexible terms. Mr. Kenyon also underlined the Credit Union’s continued commitment to the local community through volunteerism, sponsorships, and donations to dozens of non-profits and community organizations throughout Northwest Montana.
The business meeting included elections for the Board of Directors and the Supervisory Committee. The membership extend congratulations to incumbents Tom Cullen and Charlene Rygg, who were each re-elected to a three-year term by unanimous ballot. Michael Viscomi, Susan Naive, and Mike Rossi were re-elected to two-year terms on the Supervisory Committee, and Jeff Doorn, whose appointment to the Supervisory Committee was approved by the membership.
Thank you to everyone who joined us at our 2019 Annual Meeting. We hope to see you next year at our 85th Annual Meeting!
To read Whitefish Credit Union’s 2018 Annual Report, click here.