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BCU Annual Meeting and Financial Report: Riverwest Moves Closer to Getting its Own Credit Union Branch in the Neighborhood

by Kevin Flaherty, BCU Board member

Attendees of the recent annual Brewery Credit Union (BCU) membership meeting were treated to a continental breakfast and updates from the credit union’s President, Jim Schrimpf, Vice President Steve Janssen, and Paul Copper, Chairman of the Board of Directors. More than 40 people came to the Italian Community Center on Saturday, March 1 for the annual meeting. At the meeting, Orville Beene, a retired Brewery Local 9 worker, was re-elected to a three-year term and Sue Rowe — appointed to fill director Mike Barylak’s seat after he passed away — was elected to a three-year term. Rowe until recently was a long-term Miller Brewery human resources employee.Rowe and Barylak were co-workers at Miller. During 2002, BCU assets increased from $17.6 million to just under $19 million. Profits grew nearly 62% from 2001, to $230,267. Many new products and services were offered in 2002, including the ability for Brewery Credit Union to offer its members 15 and 30-year fixed rate mortgage loans. Credit Cards were revamped, with interest rates drastically lowered, and a new ATM was established at the Riverwest Co-op, a corner grocery store offering local and natural foods at 733 E. Clarke Street. The 42 members who attended the Saturday morning meeting were told that they would receive $50 from BCU for each new deposit or loan member they referred to the credit union. Currently, the Riverwest sub-group of BCU has 89 members, $408,608 in deposits and $262,789 in loans. Riverwest Currents – Volume 2 – Issue 4 – April 2003
by Kevin Flaherty, BCU Board member