Note From the CEO

Spring News

The 58th Annual Meeting of Green Mountain Credit Union will be held on Tuesday, April 18, 2017 at the South Burlington Office, 4 Laurel Hill Drive, South Burlington, VT 05403.

Social Hour and Registration begin at 5:30 p.m. and the Business Meeting at 6:00 p.m. No reservations needed.

The Annual Report is available below and has been mailed with the March statements to members. For additional copies or more information, please contact any office.

 

Loan Specials 

STAFF CHANGES

Please help us welcome Katon Bushey who is replacing Alex McCarthy in the South Burlington Office. Alex has accepted the position of Operations Specialist/Internal Compliance Officer in our office.

Also please help us welcome Lynn McGrath in our Rutland Office.

Lastly, Charlie Litchfield of out Berlin Office has left for another opportunity and we wish her well.

Coming Soon!

For your convenience, our South Burlington Office will be acquiring a coin counting machine in the near future. Trading in all those pennies, nickels, dimes, and quarters for paper money will be easier than before.

Loan Specials

Currently we have two loan specials going on.  Our Tax Loans and our Home Improvement Loans.  Have you completed your taxes, only to find out that you owe more than anticipated? Is your income tax refund taking a bit too long? Apply for a Tax Loan, with Rates as low as 4.99% APR.  Looking to make Home Improvements? Choose the right tool to get the job done. Home Improvement Loans are available, with rates as low as 3.49% APR.  Contact one of our loan officers for more information on both.

ACH News

Would you like to have your loan payments debited from another bank or credit union?  This service is now available to our members at no cost. Contact any office for more information and to sign up.  All we need is your signature and a cancelled check with the routing and account numbers.    In more ACH news, have you noticed your ACH debits and credits posting faster?  A new regulation this fall enables us to process these items three times a day instead of only once, early morning and then twice in the late afternoon.

2017 Exciting Changes

We are working to bring EMV or chip cards to your Debit card during the third quarter of 2017. Also to transition our VISA card to the Flex core system so it will appear on your credit union statement and online banking by the third quarter.  New online banking and remote deposit capture are also on the calendar. Watch this newsletter for more information as these technology changes evolve.

Fall News

STAFF CHANGES

Please help us welcome Kylie Hearn who is replacing Marie Hill in the South Burlington Office. Marie has left for another opportunity and we wish her well.

HOLIDAYS

The Holidays are swiftly approaching, 2016 Christmas Club accounts were dispersed to regular share accounts on Friday, October 7, 2016.  If you have an automatic or direct deposit to a club account it will be directed as usual for your 2017 account.  Now is the time to sign up for 2017 Christmas Club Accounts if you don’t have one currently, contact any office for more information.

By popular demand, our Holiday Loan is now available for early shopping.  This loan pays off in 11 months and rates start as low as 5.49% APR.

HOLIDAY CLOSINGS

All Offices will be closed on the following dates, Call 24 and Online Banking will be available 24/7.

Friday          November 11, 2016                Veteran’s Day

Thursday    November 24, 2016               Thanksgiving Day

Monday       December 26, 2016               Christmas Holiday

Monday       January 1, 2017                      New Year’s Day

Fall 2016

It’s hard to believe that summer is almost gone, school has started and you can see some of the leaves changing already.

If you are heading south for winter, don’t forget to let us know you will be traveling with your GMCU Debit or Credit Cards.  We can also change your address and even enter your return date so credit union mail will be sent to the correct address.

Time to think about buttoning up your house for winter with an Energy Loan from your credit union.  Use the loan for any type of energy improvement such as extra insulation, a wood stove and even energy efficient appliances.  We will also have our Fuel Loan available for members that want to pre-buy fuel or need extra fuel during the winter.

Holiday sales start earlier and earlier it seems.  For members who enjoy shopping early, Christmas Clubs will be disbursed on Friday, October 9th to your regular share account. If you have payroll deduction or automatic transfer, your Club for 2017 will automatically continue.

It’s great to have funds on hand for a worry free holiday. don’t have a Christmas Club account?  Start one for as little as $5.00 by calling or visiting any office.

May 2016

The 57th Annual Meeting was held on Friday, May 20, 2016 at the Berlin Office of Green Mountain Credit Union.  Members enjoyed a barbeque dinner with three kinds of salads and hamburgers cooked on an outside grill.  Thank you to member Chad Perkins for making the salads and bringing the grill for the evening.

The business meeting was called to order at 6:15 p.m. by CEO Bob Lake.  The minutes of the 56th Annual Meeting were approved as written.  Nominations to the board include David Blythe, Robert F, Irwin, and John King.  There were no nominations from the floor.  The slate of nominees was approved as presented. Recognized for their years of service were retired directors Ture Nelson and Bob Griffin.  Ture served on the board since 2006 and as Vice Chairman and Bob since 1991 and as Treasurer.  Their names will be placed on a plaque in the lobby of the South Burlington Office as Volunteers of the Year. The winner of the drawing for a $500 cash prize was won by Scott Miller. There being no further business the meeting adjourned at 6:40 p.m. Immediately after the meeting, the directors met to elect officers for the coming year. They are John St. Hilaire, Chairman; David Blythe, Vice Chairman; Robert F. Irwin, Secretary; Robert J. Lake, Treasurer and John King, Director.

May 2016

The 57th Annual Meeting will be held on Friday, May 20, 2016 at the Berlin Office.  Join us for a free barbeque and the chance to win $500.  The business meeting will begin at 6:30 p.m.

2015-2016 Members of the Board of Directors are:

John St. Hilaire                   Chairman of the Board

David J. Blythe                    Vice Chairman

Robert F. Irwin                     Secretary

Robert J. Lake                    Treasurer

John King                            Director

Nominations

After a call for candidates for 2016-2017 the Nominating Committee has placed into nomination the following individuals:

For a one year term:        John King

For a two year term:        Robert F. Irwin

For a three year term:     David J. Blythe

About the Nominees

David Blythe is an attorney in Barre and is a partner in the law firm of Blythe and Taylor.  He was appointed to fill the unexpired term of retiring director Ture Nelson.

John King is the owner and President of TELigence Partners, an IT telecommunications company.  He was appointed to fill the unexpired term of retiring director Robert Griffin.

Robert Irwin has been on the Board of Directors since 2011 and currently serves as Secretary of the Board.

We look forward to seeing you at the Annual Meeting.

April 2016

Director Robert Griffin has retired from the Board of Directors.  Bob joined the Board in 1991 and served as Treasurer for most of that time.  During his tenure on the board the credit union grew from $3 million to $43 million.  Bob’s insight and contribution to the financial picture of the credit union will be greatly missed.  Bob recently retired from a long career at Green Mountain Power Corp and is enjoying his retirement traveling and enjoying time with family.

After posting and interviewing candidates, the Board of Directors appointed John King, President of TELigence Partners, a telecommunications and IT consulting company, to fill the unexpired term of Bob Griffin until the next annual meeting on May 20, 2016.

January 2016

I would like to take this opportunity to review our successes and share them with you. Over the course of 2015 we saw our “project growth” create efficiencies and reduce expenses without adding new positions.  This enabled us to grow our assets to $40 million and generate the highest profit and number of new members in our history.

In 2015 we implemented new technology for our ATM/Debit card program and updated our share draft/checking account processing, installed a new server and launched a new user friendly website with an updated design. In 2016 we have more great things coming… watch this website for updates as we continue to implement new products and services. We said hello to new faces Alex McCarthy, Marie Hill, John Knox, Marie Thomas, Tanya Moore and farewell to board member Ture Nelson.  Ture served as the representative for Washington and Orange Counties for almost 10 years.  David Blythe, an attorney in Barre, has been appointed to fill the board position until the next annual meeting. We also added Franklin and Addison Counties to our field of membership and are looking forward to welcoming new members from those areas. Best regards for a Healthy and Happy 2016.   Robert J. Lake, CEO