St. Anne’s Credit Union emphasizes strength, opportunity at 74th Annual Meeting

FALL RIVER, MASSACHUSETTS, April 20, 2010 … St. Anne’s Credit Union of Fall River held its 74th Annual Meeting on March 28 at White’s of Westport.

Board Chairman William R. Bouchard reported that, despite an unstable economy, rocky real estate market and regulatory upheaval, St. Anne’s Credit Union is safe, stable and financially secure. Assets at year-end were $732.5 million, a 2 percent growth over 2008 assets of $718 million. The Credit Union serves more than 58,000 members, and remains the largest financial institution headquartered in Fall River.

“Despite a rocky housing market, we continue to be among the most active mortgage lenders in Bristol County,” Bouchard said. The Credit Union originated 823 mortgage loans totaling $164.4 million in 2009.

Ross R. Upton, president and CEO, is planning ahead and looking for opportunities to expand the Credit Union’s Southcoast reach.

“Our position is a solid one; there is no need for us to tread water, especially when it is our members who will be the beneficiaries of our forward motion.” Upton said. “With more than $730 million in assets, over $63 million in capital and more than 200 dedicated employees and directors, we have the financial strength and resources to better serve our membership throughout the Southcoast.”

Board of Director Elections
Board members Albert E. Mercier, John R. Ledwidge, Bruce E. Fernandes, and Colleen Brady were all re-elected to their board positions.

Scholarship Winners
Among those attending the Annual Meeting were St. Anne’s Credit Union’s 2010 Scholarship winners.

The recipients of the $1,000 awards were: Lillian Phuong, B.M.C. Durfee High School; Jamie Medeiros, Bishop Connolly High School; Jamie Almeida, Bishop Stang High School; Ryan Duff, Bridgewater-Raynham Regional High School; Kevin Lemieux, Dartmouth High School; Kyle Brodeur, Diman Regional High School; Nicole Pelletier, Joseph Case High School; Katelyn Cabral, Joseph Case High School; Zachary Federico, Somerset High School; Ayesha Patel, Tiverton High School; Victoria Ferreira, Westport High School; and Brandon Torres, Westport High School.

St. Anne’s Credit Union has granted over $200,000 in scholarship awards since the program began in 1993.

Photo caption:
Back Row (From Left to Right): Kevin Lemieux, Kyle Brodeur, Bernard G. Theroux, Ross R. Upton, Arthur L. Miranda, William R. Bouchard, Zachary Federico. Front Row: Katelyn Cabral, Nicole Pelletier, Brandon Torres, Simone Grant, Ayesha Patel, Lillian Phuong, Victoria Ferreira.