MVFCU Holds Annual Meeting

The Moapa Valley Federal Credit Union (MVFCU) held its annual general membership meeting at the Old Logandale School on Thursday, April 16. Credit Union members were encouraged to attend the meeting, and learn about the state of affairs at the local institution as well as visit with friends and neighbors.

MVFCU President/CEO Doug Schwartz visited with the roughly 45 people in attendance at the meeting and was available to field questions from those in attendance.

After visiting Schwartz welcomed all in attendance thanking those who took their time to attend the annual meeting.

Schwartz reported a “decent” bottom line for 2008 which he stated was significantly lower than past years but explained was due to certain programs and not due to losses or delinquencies. He also informed attendees that the first quarter of 2009 was better than that of 2008 in terms of net revenue.

“We are safe and sound,” he stated pointing out that the ability to use those words was something to give members comfort. “You can have peace of mind,” stated Schwartz.

The MVFCU reported that member deposits have seen a slight increase from 2007 and that member loans have stayed essentially flat.

In his speech, Schwartz assured all in attendance the MVFCU is financially solid even during these trying financial times, “We will keep going,” he stated.

Schwartz also assured the crowd that the Credit Union is committed to staying active in the community. MVFCU has a history of community support, helping out when needed.

Schwartz gave recognition to the current Board of Directors and Supervisory Committee for their hard work on behalf of the MVFCU. Current Board Members include Bill Belcher, Saun Bohn, Carolyn Jensen, Kim Leavitt, Terry Leavitt, Lance Robertson, and Wes Yamashita. Supervisory Committee Members include; Richard Jones, Larry Neil, Dan Swanson, Jennifer Marshall and Mary Barnum.

Schwartz also expressed appreciation for the MVFCU Supervisory Committee and to staff members who, he said, were all very devoted to putting the needs of the membership before all else.

Before ending his speech, Schwartz expressed his appreciation to the membership. “We hope to continue to work with our members and beat these financial struggles” he said.

Before the evening was over, a drawing was held to determine the winner of a new laptop computer. The lucky winner was Arlene Waite.