Press
GKCU shows off cooperative member-owned spirit at annual membership meeting
GEORGETOWN, SC (February 26, 2015) — Like every ebb and flow of the waters that flow around us, the member/owner structure of credit union is refreshingly different. This unique structure allows for members to have a forum where their one voice equates to one vote in the business of the credit union. GKCU has showcases that credit union difference at their annual membership meeting, where the members can actively participate, elect and vote on credit union issues.
Held February 23 at Georgetown Middle School, the annual meeting is an opportunity for the members to meet and review the financial condition and future plans for the credit union.
Chairman Dennis Loadholt opened the meeting by reviewing reports from the 2014 Annual Report including the Treasurer’s and Supervisory Committee reports which outlined the financial condition and internal and external audits of the credit union.
Chairman Loadholt reiterated to importance of democratic, member-owned structure of the credit union. Because of the loyalty and trust of its members, GKCU continued to provide a safe and stable financial option with saving, investment, and lending options in 2014. He highlighted the growth of the credit union in the coming year as plans for another location to be built in Georgetown to help service existing members, as well as welcome new members from the community.
Jeff Hardin, Director of Cooperative Initiatives for the Carolinas Credit Union League was the guest speaker for the meeting. He shared a historical view of events that occurred in 1952, the same year GKCU was founded by the employees of International Paper Company.
He highlighted the ongoing efforts of the credit union with service within their lobbies, as well as outside within the community. After the guest speaker, the floor was opened to members, who shared thoughts and asked questions regarding the operations and growth of the credit union.
A special presentation was made to retiring board member, Mr. Michael Sorokach, who served the credit union with over 30 years of volunteer service on various committees. After a resolution was read honoring Mr. Sorokach, Chairman Loadholt expressed his gratitude and honor to serve alongside him.
Elections for several volunteer committees were held. The following volunteers were elected: Board of Directors: Julius Inman, Malcolm Fore Jr., and Jim Bessant. (3-year terms); and Supervisory Committee: Charles Smith (3-year term).
The evening included special staff recognitions and presentations. For their years of service to the credit union the following employees were recognized. For 15 years of service: Sherry Epps, Loan Officer, Kingstree; and Loretta Edwards-Lee, ACH Operations. For 10 years of service: Douglas “D” Walters, Head Teller, Kingstree. For 5 years of service: Kelly Duvall, Accounts Payable, Kevin Langford, IT Manager, Diane Moore, Optical ImagingSpecialist and Rebecca Rogers, Teller, Andrews. Tiffany Cameron, Loan Officer in Georgetown, was recognized as the 2014 Employee of the Year, as voted on by the employees. The evening concluded with door prizes and drawings for the members.
As outlined in the 2014 Annual Report, GKCU reported asset growth to over $87million, with member deposits growing at a steady rate indicating a stronger savings environment while loans to members grew modestly. GKCU welcomed over 1,780 new members, expanded its mortgage loan department, did extensive research and implementation of new procedures to become more efficient and proudly looks forward to expanding service and member accessibility with the new additional location. GKCU also outlined strong community involvement with over $38,000 in donations and sponsorship, including $10,000 in college scholarships, as well as countless volunteer hours.
GKCU is a full-service, member-owned financial cooperative where profits are returned to the members through lower rates on loans and higher returns on investments. GKCU offers a range of financial services and is open to anyone who lives, works or attends school in Georgetown and Williamsburg counties. GKCU employs over 50 staff and has four full-service branches. For information about joining or to view the annual report, visit their website at www.gkcu.org.