The Annual Meeting of Leominster Credit Union was held recently at the Credit Union’s Executive and Operations Building in Leominster.
The President’s report presented the financial highlights for 2017. Total assets ending 2017 increased to $677 million from $643 million at the end of 2016. LCU is ranked as the 14th largest credit union in Massachusetts. LCU’s loan portfolio remains strong increasing from $440 million in 2016 to $488 million in 2017
Following the Annual Meeting, the Board of Directors met and elected officers for 2018-2019.
Michael J. Sauvageau, Chairman of the Board. Sauvageau has been on the Board since 2007. Sauvageau serves on LCU’s Executive Committee.
Richard A. Sheppard, Vice Chairman. Sheppard serves on the Executive, Audit, Investment and Compensation Committees. He has been a member of the Board of Directors since 2006.
Nancy L. Graves, Treasurer. Graves serves on the Executive, Credit, Investment, and Advisory Committees. She has served on the LCU Board of Directors since 2004.
Giulio G. Greco, Clerk. Greco has served as Chairman from 1994-1998 and again from 2008-2011. He currently serves on the Executive, Compensation, Credit and Advisory Committees. Greco has served on the Board since 1978.
Joining the officers on the 2018-2019 Board of Directors are, Amedeo E. Bilotta, Bruce J. Bollivar, Joyce G. Leger, Henry C. Kulik, Jr., Joyce A. LaFleur and Joseph V. Quintal. The Board of Directors is responsible for setting LCU policies.
Andrew D. Cousins retired from the Board this year. Cousins served as Treasurer and had been on the LCU Board since 2005. Andrew and his knowledge of our community was a wonderful asset to our Board and we thank him for his leadership. Nancy L. Graves was voted Treasurer following Cousins retirement. Nancy L. Dube will be joining the Board of Directors, filling the vacant seat. Nancy Dube is a dedicated Human Resource Consultant with over 30 years’ of experience. Her background includes work in retail management, direct sales, manufacturing, government, medical, high-tech, aerospace, non-profit and family business. Nancy’s knowledge and skills will add great value to the Leominster Credit Union Board of Directors.