Innovation Credit Union has reported positive results at its recent AGM in North Battleford on April 30.
The credit union continues to tout growing membership and share profits. In a news release, they reported total membership is now near 53,000, and 30,000 of those have No-Fee Bank Accounts.
Total on-balance sheet assets rose to $2.68 billion in 2018. The credit union also reported they had committed over $508,000 in sponsorships, donations, and community development to local organizations.
“I can’t adequately express what a privilege it is to be associated with this outstanding staff group,” said Innovation CEO Daniel Johnson in a statement.
“The acknowledgements we received this past year were due in large part to them and their commitment to serving our members and our communities with such enthusiasm and heart. We have just over 400 employees volunteering over 14,000 hours each year and donating over $18,000 themselves to local charities. If there’s a local event needing volunteers, you’re likely to see Innovation employees coming through.”
One item dealt with at the meeting was Innovation’s preparations to become a federal credit union under the Bank Act. Innovation reported they submitted an official application to the Office of the Superintendent of Financial Institutions last July. Bylaws governing the federal credit union were also approved at the AGM.
In connection to recent amalgamations with Goodsoil and Pierceland, the credit union has added two new board members, Joan Baer and Karen Yurko, as of Jan. 1.
There was a presentation at the meeting from Battlefords Humane Society. Their campaign is on for a new shelter and Innovation presented a cheque for $5,000 towards the new facility.
