2021 Annual Meeting Live Teleconference
The last year has asked many businesses to re-envision how we make meetings and other gatherings accessible to the public in a time when we have been tasked with limiting in-person contact with others, and our annual meeting is no different. In order to ensure that we are taking all necessary precautions and social distancing measures, the annual meeting has been moved to a remote teleconference that you can join right from the comfort of your home. Attend this year's meeting to hear the results of our annual elections for the Board of Directors and the Supervisory Committee.
There are two options to join the meeting on Thursday, April 15th at 12:30 p.m.:
Call in at 1-571-317-3116 or toll-free at 1-866-899-4679
Visiting this link (Meeting ID: 807-115-341)
Click here to log your attendance of the 2021 Annual Meeting
Click here to download the 2020 Annual Report
Please be advised that all chat communications are public, so please keep all interactions appropriate and respectful.
Visit the Email Us web form for any questions you have during the Annual Meeting. Questions will receive a response on Monday, April 20. For any technical difficulties during the teleconference, please refer to this webpage for assistance.
Like previous years, you will receive a voting ballot to elect our Board of Directors and Supervisory Committee with your April statement that will direct you to where you can submit your vote online anytime prior to the day of the annual meeting. Paper ballots can be dropped off in the Night Dropbox at any Members 1st branch prior to April 15th.
Thank you for your flexibility in this uncertain time and we look forward to continuing with our annual meeting together in this new format as we rise as a community to meet these obstacles.
Annual Meeting Department Updates
The credit union’s financial results are included in the annual report, and the highlights include:
- Loan balances grew by +$24 million or +13%, higher than peers (+3.7%)
- Total assets increased by +$44 million or +19% to reach an all-time high of $274 million, higher than peers (+17%)
- Net income was over $1.9 million
- The net worth ratio (a measure of the safety of the credit union) grew to 8.41%
The following credit union product development and awards were accomplished in 2020:
- Established the Emergency Relief Loan and special financing opportunities in response to COVID-19
- Enabled $50 and $10 denominations in all Members 1st ATMs
- Partnered with Total Merchant Concepts (TMC) to provide merchant services that aid and assist businesses with credit card processing solutions, POS terminals, e-commerce, mobile solutions, check services, and more
- New services for assisting members with foreign wires, checks, and currency exchange
- Redesigned member and credit card statements to make them easier to read and understand
- Redesigned debit and credit cards to be more reflective of the Members 1st brand
- Debuted Contactless purchases on debit and credit cards allowing contactless transactions at merchant terminals
- Equipped all Members 1st credit cards with Purchase Protection, Return Protection, and Travel Protection
- Awarded Best of the North State for the Best Bank/Credit Union category five years in a row
Below lists growth and started projects in 2020:
- Membership growth was 3.91% in 2020. As of year-end, we were serving 22,613 members.
- Net Promoter Score increased from 80.03% to 82.85% meaning increased member satisfaction and loyalty on surveys
- Completed the majority of the remodel project of our Pine Street branch in Redding, CA
- Started the remodeling project at our new Chico branch on East Ave. in Chico, CA
Below lists growth and highlights in 2020:
- Implemented personality and aptitude assessments to evaluate the best job candidates for the position
- Updated the Career Development Path Module for employees. Each position has a clear and defined job description and training criteria, so employees know and understand the path that is needed to advance. A clear and defined path reduces employee turnover by providing increased promotional avenues and improves employees' morale and motivation
- Our Employee Net Promoter Score for 2020 was 80.39%, right in line with our member NPS for 2020. Satisfied employees = satisfied members.
- Our employee turnover percentage for 2020 was 13.70%. Even with the pandemic, our turnover rate was well below our turnover goal set at 16%.