MCU Board Chair James Durrah and President/CEO Kam Wong addressed members at the 2017 Annual Meeting held on Wednesday, May 10, 2017 at the New York Hilton Midtown Manhattan Hotel. It was reported that Municipal Credit Union hit new highs in 2016, its Centennial year, with total assets of $2.48 billion and more than 400,000 members.
During the meeting, Board Directors and Officers for the upcoming year were named:
Board members who were re-elected and immediately started serving another three-year term are:
- Tony Abdallah
- S. Nana Osei-Bonsu
- Mark S. Brantley, Esq.
Board members who were elected and immediately started serving their first term are:
Officer positions for the upcoming year are:
- James Durrah, Board Chair
- Beryl Major, 1st Vice Chair
- Loretta Jones, 2nd Vice Chair
- C. Richard Wagner, 3rd Vice Chair
- Caroll Ducanson, Secretary
- S. Nana Osei-Bonsu, Treasurer
- Tessa I. Hackett-Vieira, Assistant Secretary
- Mario Matos Jr., Assistant Treasurer
MCU’s Board also includes: Tony Abdallah, Mark S. Brantley, Esq., Elan Nieves and Joy S. Schwartz, Esq. Shirley Jenkins serves as Director Emeritus.
In addition, Almeta Coaxum was re-elected to the Supervisory Committee. Her three-year term begins immediately. The Supervisory Committee also includes Giovanni Porcelli, Joseph Guagliardo, Karen Lucas and Cheryl Wright.
Other topics covered at the meeting included:
- News that MCU’s total assets were $2.48 billion and membership grew to over 400,000 members.
- Key financial highlights, which included news that MCU’s loan portfolio grew to $1.61 billion, with notable growth in the mortgage and credit card portfolios.
- Enhancements to the member experience through increased accessibility and ease of use. These included MCU's new Bill Pay service, upgrades to the online and mobile banking platforms and the expansion of the ATM network to 21 new locations throughout the city.
- A mention that MCU launched the TRUE Rewards Cash Back Visa credit card in 2016.
- News that MCU received recognition for several programs and its years of service. Notably, MCU was recognized by the New York Credit Union Association with the prestigious Desjardins Adult Financial Education Award for the Financially Fit series.
The meeting highlighted a successful Centennial year in 2016 and set the stage for continued success in 2017.
MCU members check in at the 2017 Annual Meeting.
MCU members wait for the 2017 Annual Meeting to start.
MCU's Board Chair, James Durrah, addresses the crowd during the 2017 Annual Meeting.
Kam Wong, MCU's President/CEO, speaking at the 2017 Annual Meeting.
An MCU Member poses with her raffle prize at the 2017 Annual Meeting.