Credit Union declares 1st quarter dividends

The Shelter Credit Union board of directors announced March 21, 2024 that the Credit Union will pay dividends of 2.25% APR on share (savings) accounts, and 0.10% APR on checking accounts with an average balance over $500, in the 1st quarter of 2024 (January, February and March 2024).

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NOTICE OF ANNUAL MEETING

The 67th Annual Meeting of the Shelter Insurance Federal Credit Union will be held in the Cafeteria of the Shelter Insurance Companies Home Office, 1817 West Broadway, Columbia, Missouri, at 5:30 p.m., Wednesday, March 6, 2024.

The order of business will be as follows:

1. Determination of a quorum
2. Minutes of the last annual meeting
3. Report of the Board of Directors
4. Report of the Treasurer
5. Report of the Credit Committee
6. Report of the Supervisory Committee
7. President’s Report and remarks
8. Unfinished business
9. New business
10. Elections
11. Adjournment

Minutes from the last annual meeting will be available on the SIFCU website (www.shelterfcu.com) and will also be available from the credit union.
We will continue the tradition of door prizes being given away and refreshments will be served. All members of the Credit Union are invited, and we look forward to good attendance and participation in the annual meeting.

Darren Moore, Secretary-Board of Directors

Notice of 2024 Annual Meeting

2023 Annual Meeting Minutes

President Jacki Swank opened the meeting by introducing herself and welcoming members and guests to the 66th annual meeting.  She proceeded by introducing the Board of Directors to the attendees:

Tina Workman, Chairperson of the Board

Jeanne Collins, Vice Chair

Jon Imhoff, Treasurer

Lisa Brock, Secretary

Doug McClure, Board Member

Stacye Smith, Board Member

Todd Sanders, Board Member

Wade Forsythe, Board Member

Al Finley, Board Member

Curtis Nelson, Board Member

Darren Moore, Board Member

She acknowledged the broad experience and expertise of the Board members and expressed her appreciation for them volunteering their time and knowledge.

The Asset Liability Committee, chaired by Jeanne Collins, meets monthly and has the important function of measuring and managing the various risks of the Credit Union, including recommending changes to loan rates, dividend payments and investment policies.  Special recognition and thanks were extended to Gary Ford for his contribution to this committee and the advisory services he provides.

Other members of the committee are:

Jon Imhoff

Doug McClure

Wade Forsythe

Tina Workman

The Supervisory Committee, chaired by Dan Jaegers, provides oversight and guidance for internal operations. The committee monitors and audits various areas for compliance throughout the year.  Other members of the committee are:

Jennifer Frerking

Waldon Moss

Jessica Ray

The Credit Committee, chaired by Sheila Jackson, is a very active committee that meets every Tuesday and Thursday to review loan applications.  Other members of the committee are:

Matt Meyer

Naomi McGee

None of the members were able to attend but President Swank expressed her thanks for their continued dedication.

Ms. Swank expressed her pride and appreciation of the Credit Union staff and introduced each attendee and shared their years of service with Shelter and service with the Credit Union:

Christine Brown-Operations Manager (been with Shelter for 23 years and the Credit Union since 2016)

Deanna Burnett-Full time Member Service Representative (been with the Credit Union since 2020)

Payton Million-Full time Member Service Representative (been with the Credit Union since June of 2022)

Kelly Deline-Part time Member Service Representative (been with Shelter 23 years; much of that time in the Credit Union)

Ms. Swank also expressed her thanks to Patty Colvin-Monnig of Facilities and Bill Goings and his cafeteria staff for their contribution to the annual meeting.

A special welcome was extended to all retirees including charter member Terry Pauley and his wife Erma.  President Swank took the opportunity to recognize the support she receives from her family.  Her husband, Craig, and son, JJ were attendees.

At that time, the meeting was turned over to Chairperson of the Board, Tina Workman.

The 66th annual meeting of the Shelter Insurance Federal Credit Union was called to order at 7:10 p.m. on March 7, 2023, by Board Chairperson, Tina Workman.

Ms. Workman acknowledged and thanked Jacki and the Credit Union staff for their dedication and efforts this past year.  She then declared a quorum was present.

The first order of business was approval of the 2022 annual meeting minutes. Doug McClure made the motion to approve, seconded by Stacye Smith.  The minutes were approved by a voice vote of the attending members.

Tina Workman gave the Treasurer’s Report for 2022, in Jon Imhoff’s absence.  She reported the financial highlights for the year and indicated the balance sheet is in good shape for 2022.  On a motion made by Terry Pauley, seconded by Pam George and an affirmative vote from the attendees, the Treasurer’s report was approved.  A copy can be found in the Original Minutes Book.

Ms. Swank gave the Credit Committee report.  Loan volume increased in 2022 compared to 2021. Jennifer Frerking gave the Supervisory Committee report and summarized the internal control review procedures performed by the group.  On a motion made by Stacye Smith, seconded by Doug McClure, the committee reports were approved by a voice vote of the members that were present.

President’s Report

Ms. Swank discussed highlights from the year including the following items:

  • The entire Credit Union staff returned to the office, on a daily basis, for the first time since March 2020.
  • The Credit Union saw many rate changes in both investment and lending. They were able to continue to offer competitive loan rates while also raising the share dividends.
  • Swank discussed that much of 2022 was spent reviewing and revising the membership forms and disclosures. These updated forms and disclosures will be available to members soon.
  • Swank announced the retirement of three Board members: Stacye Smith, Al Finley and Lisa Brock and thanked them for their years of service to the Credit Union.

In closing, Ms. Swank stated that the Credit Union looks forward to another successful year in 2023.  She thanked the attendees for their membership and told them how the Credit Union valued each of them.  She invited the attendees to stay after the meeting to have refreshments and a chance to win one of the many door prizes.

Ms. Swank turned the meeting back over to Tina Workman.

Old Business

Ms. Workman opened the floor for old business but there was none.

New Business

Chairperson Workman presented the 2023 budget.  On a motion from Stacye Smith and second by Mark Bramon, the 2023 budget was approved by a voice vote from the members attending.

Ballots were distributed to all attendees to vote to fill six (6) Board of Directors positions becoming available.  The listed nominees were Doug McClure, Wade Forsythe, Lesley Hane, Jennifer Frerking, Jeanne Collins, and Lionel Clark.  The ballot also allowed for additional nominations and write-in candidates.  Erma Pauley moved the six listed nominees be accepted by acclamation and Jessica Ray seconded it. The nominees were approved by a voice vote from the attending members.

Ms. Workman entertained a motion that the meeting be adjourned.  Motion was made by Terry Pauley and Erma Pauley seconded it.  After an affirmative vote by the attending members, the meeting adjourned at approximately 7:35.  The Credit Union staff then coordinated the distribution of door prizes.

2023 Annual Meeting Minutes

Credit Union declares 4th quarter dividends

The Shelter Credit Union board of directors announced December 22, 2023 that the Credit Union will pay dividends of 2.00% APR on share (savings) accounts, and 0.10% APR on checking accounts with an average balance over $500, in the 4th quarter of 2023 (October, November and December 2023).

Credit Union declares 3rd quarter dividends

The Shelter Credit Union board of directors announced September 27, 2023 that the Credit Union will pay dividends of 2.00% APR on share (savings) accounts, and 0.10% APR on checking accounts with an average balance over $500, in the 3rd quarter of 2023 (July, August and September 2023).

Credit Union declares 2nd quarter dividends

The Shelter Credit Union board of directors announced June 15, 2023 that the Credit Union will pay dividends of .75% APR on share (savings) accounts, and 0.10% APR on checking accounts with an average balance over $500, in the 2nd quarter of 2023 (April, May and June 2023).

Credit Union declares 1st quarter dividends

The Shelter Credit Union board of directors announced March 16, 2023 that the Credit Union will pay dividends of .50% APR on share (savings) accounts, and 0.10% APR on checking accounts with an average balance over $500, in the 1st quarter of 2023 (January, February and March 2023).

Credit Union declares 4th quarter dividends

The Shelter Credit Union board of directors announced December 20, 2022 that the Credit Union will pay dividends of .50% APR on share (savings) accounts, and 0.10% APR on checking accounts with an average balance over $500, in the 4th quarter of 2022 (October, November and December 2022).

Credit Union declares 3rd quarter dividends

The Shelter Credit Union board of directors announced September 23, 2022 that the Credit Union will pay dividends of .15% APR on share (savings) accounts, and 0.01% APR on checking accounts with an average balance over $500,  in the 3rd quarter of 2022 (July, August and September 2022).

Credit Union declares 2nd quarter dividends

The Shelter Credit Union board of directors announced June 16, 2022 that the Credit Union will pay dividends of .10% APR on share (savings) accounts, and 0.01% APR on checking accounts with an average balance over $500,  in the 2nd quarter of 2022 (April, May and June, 2022).

Credit Union declares 1st quarter dividends

The Shelter Credit Union board of directors announced March 17, 2022 that the Credit Union will pay dividends of .05% APR on share (savings) accounts, and 0.01% APR on checking accounts with an average balance over $500,  in the 1st quarter of 2022 (January, February and March, 2022).