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LOCKPORT, N.Y. (April 8, 2005) - More than 300 members were present
on Sunday, Apr. 3, 2005, for the 2005 Cornerstone Community Federal
Credit Union (FCU) annual meeting, held at the Cornell Cooperative
Extension Building in Lockport, N.Y. The annual meeting also served
as the final voting date for the election of three appointees
to the Cornerstone Board of Directors.
Chairman of the Board David Nemi presided over the meeting,
during which Cornerstone President and CEO Ann M. Brittin and
Treasurer James Szatkowski also provided their reports. Brittin
additionally reported on behalf of Supervisory Committee Chairperson
Lawrence Pease. Following the reports, results of the board
elections were announced, with David Nemi (447 votes), A. Angelo
DiMillo (454 votes) and Molly Cocco (407 votes) winning re-election.
Cornerstone President and CEO Brittin discussed the credit
union's innovative products and promotions in 2004, including
the launch of small business lending, indirect lending program,
and the expanded branch hours at the South Transit Road and
Stevens Street locations. "The success of these products
and promotions supported the credit union's core mission
of providing our members with more convenience and flexibility,"
she explained. Looking toward the present year, Brittin commented
on a number of initiatives the credit union is anticipating
to promote Cornerstone's growth.
Cornerstone Treasurer James Szatkowski's report focused on
the economic challenges the credit union has faced and that,
despite difficult times, Cornerstone has remained monetarily
stable. He attributed Cornerstone's financial strength to profitable
loan promotions, the establishment of indirect lending at auto
dealerships, and management's careful consideration of expenses
and the restructuring of internal processes. He concluded, "The
recent and significant success of the credit union's new programs
and promotions indicates we should be on much better financial
footing in 2005."
Looking toward the present year, Chairman of the Board David
Nemi noted, "New products and services introduced in 2004
helped to get the credit union's profitability on a better
track, and will also help us to move in the right financial
direction for 2005."
Established in 1957 as Unit No. 1 Federal Credit Union, Cornerstone
Community FCU is a community chartered, federally insured credit
union. Cornerstone has grown to become the largest credit union
in Western New York with more than 37 thousand members and assets
in excess of $200 million. Those who reside, work, volunteer,
attend school or worship within Niagara County are eligible
for membership under Cornerstone's charter. For additional information,
call (716) 434-2290 or visit www.cornerstonecommunityfcu.org.
Locations include 6485 S. Transit Rd. in Lockport, 55 Stevens
St. in Lockport and 5 State St. in Middleport. |
