STURGIS - The Crossroads Credit Union reported on its year of change in the 2022 season at its annual general meeting and supper held at the Sturgis Community Hall on May 3. The meeting was originally schedule to be held April 19 but was re-scheduled due to inclement weather.
There were approximately 50 members at the supper meeting that was catered by Charlotte Chernyk.
During the meeting portion, board member Chris Balyski of Preeceville was appointed as monitor of the meeting.
Walter Ostoforoff, Crossroads Board President, brought greetings from the board.
“The year 2022 can be summed up as a year of change and staff resilience,” stated Ostoforoff. “Financially, Crossroads had a positive success year with dividends being allotted back to its members. We continued to invest in additional service delivery platforms in 2022. Our new online and mobile banking platforms along with a new user-friendly website were key in 2022. Our members have shown a growing preference for these options with 71 per cent of transactions done online. The war in Ukraine has had some affect on Crossroads with uncertain financial times but we are looking forward to more stability in 2023,” concluded Ostoforoff.
Jeff Bisschop gave a brief Chief Executive Officer message.
“We saw that 2022 was a year of changes,” he said. “Significant work was done ensuring we were executing our Key Strategic Initiatives. The most noticeable was ensuring our branches create an environment that supports advice-based service and member experiences. Crossroads believes in putting its members first and is dedicated to tailoring its members at the confidence of its members. Crossroads believes in investing in its members and are making strides in the Saskatchewan agriculture field.
“In 2022, we saw a new mobile and online banking platform and a new virtual advice branch, a first for Crossroads which will be in operation by 2024. The Bank of Canada raised interest rates numerous times to combat inflation with the highest interest rates that we have seen since 2008. This last year has shown that Crossroads is extremely adaptable and continues to embrace change, looking forward to meeting members’ ever-changing needs,” he concluded.
Ivan Peterson, board member for six years, officially retired and did not seek re-election. Shannon Leson was elected by acclamation in the Central District, Veronica Wilgosh was elected in the Northern district as she replaced Ivan Peterson. Jim Vewchar did not seek re-election.
Rhonda Fullawka gave the financial report for the 2022 year. She reported an increase from 2021 in members’ equity of $338,796,646 and an increase in profit that saw a profit of $5.7 million that will see $376,346 going back to its members in patronage allocation.
Jeff Bisschop then answered questions from concerned Sturgis branch members, as the branch is turning into an advice centre and no longer offering across the counter services. After a heated discussion, many members appeared to leave the meeting feeling frustrated.
Board members in the three districts are, Central district, Arlette Bogucky, Calvin Homeniuk (re-elected for 2023), Shannon Leson, Marcel Michaud (elected by acclamation in 2023) and Betty Tomilin; Northern district, Chris Balyski, Veronica Wilgosh and Duane Karcha (elected in 2023) and in the Western district, Duane Sweatman and Murray Bottcher.
Dale Zubko, who served eight years on the Northern board and Walter Ostoforoff, who served the Central district board for 12 years, were presented with retired appreciation gifts.
Leanne Woloshyn, Risk and Compliance Officer, gave a presentation on fraud that concluded the meeting portion prior to the draw for door prizes.
