On Thursday, April 23, America’s Christian Credit Union (ACCU) sustained a springtime tradition by staging its 62nd Annual Meeting. Unlike the previous 61, this one was conducted via teleconference. Participants from ACCU’s various constituencies – members, employees, Board of Directors, and Supervisory Committee officials – dialed in to take part as they sheltered in place, pursuant to community health directives stemming from the current Covid-19 pandemic.
Roll was taken on the conference line, a quorum was determined to be present on the call, and the meeting proceeded.
During the early part of the Annual Meeting agenda, Board Chair Rev. Dr. Kevin Mannoia meted out a special commendation to ACCU’s President/CEO, Vicki VannBerstein, whose appointment as the credit union’s top executive had taken effect one month earlier. During the early weeks of her ACCU tenure, noted Mannoia, VannBerstein has been instrumental in both a culture shift centered around employees working remotely, and an increase in cross-department collaboration. Under VannBerstein’s leadership, staff members have worked long hours responding to the needs of churches and other small businesses within ACCU’s corporate membership base.
Hundreds of churches and businesses applied to ACCU this month for Paycheck Protection Program (PPP) loans, created in response to the recent business downturn in the wake of the global pandemic. While some staff worked round the clock to create a web portal to accept these loan applications, others geared up to process and submit the avalanche of loan applications. During the first round of funding released by the Small Business Administration (SBA), ACCU was able to provide financial relief for over 160 churches and small businesses across the United States, funding over $29 Million in PPP loans.
While large banks and other lenders seemed to cater mainly to their largest corporate clients, ACCU happily accepted and processed loan requests from members and prospective members of all sizes. As Round 2 of the government’s PPP lending program kicks into gear, ACCU is currently processing additional loan applications. VannBerstein’s goal is to help as many of the credit union’s business members as possible receive much-needed funding under this relief program, allowing many thousands of employees to stay on the payroll and continue receiving their wages.
Despite having to call in from afar, participants in the ACCU annual meeting this month were able to come together unified in prayer, reflecting on God's faithfulness in allowing ACCU to grow and expand its commitment to its mission. Board Treasurer David Morse reported healthy growth as he looked back on financial performance over the past year. "During 2019, ACCU's key financial metrics outstripped our internal projections and those of industry forecasts. Assets grew 11.4%, loan growth rose by 9.5%, shares increased 11%, and net worth remained stable at 10.29%. Year-over-year net income decreased only slightly due to increased cost of funds," remarked Morse.
As is ACCU's tradition, the Employee of the Year was announced at the Annual Meeting. The honor goes each year to the staff member who best judged to best personify ACCU's mission to "Reach, Serve, and Teach". When the moment arrived, VannBerstein declared that Sylvia Rodriguez, Branch Manager, is ACCU’s newest Employee of the Year. In recognition of her achievements and this honor, she was shipped a commemorative plaque and congratulatory flowers. "It is an honor [to be recognized]. I greatly enjoy working with so many like-minded individuals as we serve our members and each other," enthused Rodriguez.
As the meeting of members drew to a close, ACCU’s leadership engaged in a noteworthy expression of vision-casting. VannBerstein and the Board of Directors unveiled a refreshed brand with the tagline 'Stronger Together.' "This is about serving our members, and about strengthening the greater body of Christ as a financial institution firmly anchored in our Wesleyan roots," remarked Mannoia. "This [refreshed brand] embodies an enduring rallying cry. We will continually improve our offerings, go the extra mile for our members, and aim to be a best-in-class financial institution – when compared against all others, not just those in the faith-based domain.”
ACCU’s new President/CEO sounded a reassuring and forward-looking note in her final remarks. “This is just the beginning! I know God will prevail over COVD-19, as we read in Psalm 91, ‘For He shall give His angels charge over thee, to keep thee in all they ways.’ We at ACCU are proud to serve as God’s hands, supporting the angels, providing for His people in their time of need,” expanded VannBerstein.
Board Chair Rev. Dr. Kevin Mannoia (left) and President/CEO Vicki VannBerstein (right), bumping elbows during 62nd Annual Meeting – ACCU's first-ever virtual meeting of membership.