ISPFCU held its 2017 Annual Meeting Friday, June 30, 2017 at the Troopers Lodge #41 in Springfield, Illinois. Members in attendance were informed of the current financial state of the institution by the officials and management staff of the Credit Union.
Chairman Boyd Butler reported on the tremendous volunteer base the Credit Union enjoys and the excellent cooperation and communication between those volunteers and the staff. Treasurer Richard Powell reported on the financial results from 2016 and reported that ISPFCU remains financially strong and will remain that way into the future. Chief Executive Officer Megan Becker gave information in regards to the challenges the organization faced as well as an overview of key growth and statistical information from 2016. Member of the Election Committee Matt Wiseman presented the 2017 election results.
Preceding the conclusion of the Annual Meeting officials and management staff held an open forum where they addressed questions and comments from the members in attendance. Questions included:
- Member inquired how Credit Union funds were invested. Staff responded that all excess funds of the Credit Union are invested in banks or credit unions under the federal insurance limits.
- Member asked why Home Branch Phone was discontinued. Staff reported that the system we were utilizing was no longer supported and replacing it with a new system was cost prohibitive due to the current member usage.
- Member asked about District Representatives. Staff reported that the District Representative program was discontinued years ago due to regulatory and privacy concerns.
- Member asked about the membership eligibility for ISPFCU. Staff reported that all members of law enforcement and their family members throughout the State of Illinois are eligible for membership.
- Officials stated that we are always looking for members willing to serve as volunteers at the Credit Union.