Two Hatters back on Servus board
Two Medicine Hat businessmen were returned to the board of Servus Credit Union last week when the provincewide member-owned bank held its annual meeting.
Perry Dooley and Simon Neigum captured two of four seats elected by a membership voted this winter.
For Dooley, it’s a return for a third term after he lost a reelection bid in 2016 by 18 votes.
Neigum returns after oneyear away, serving on various boards along the way to the amalgamation of Servus as the largest community-owned credit union in the province.
“It’s quite a humbling experience and a rewarding one for sure,” said Dooley, who owns and operates M&M Meats in Medicine Hat and Boutique Blinds.
He previously served two three-year terms beginning in 2010.
“I’m a big advocate in community, and the credit union is Alberta-based and all the profits, community partnerships and sponsorships stay in Alberta.”
“It’s a board that really has meaning because it represents the people you live with.”
The 12-person board is filled by membership election on an at-large basis, meaning there is no set regional, but Neigum said it was interesting that one-sixth of the board is made up with Medicine Hat representatives.
Neigum said it doesn’t give Medicine Hat any special pull at the board level, other than having local representatives bringing their concerns and opinions to the provincial management level.
“It is kind of neat that both Perry and I come from this city and were elected from one of the smaller large cities in the province,” he said.
Neigum, who now operates storage and property management businesses in Medicine Hat, began board work as a junior member of the local Community Credit Union in 1999. That was one-year year prior to a merger with Parkland Credit Union, of Red Deer. In 2007, Community was one of three major credit unions that merged to form Servus, and Neigum served on that board until 2013.
Dooley felt that Servus had done a good job weathering the recent downturn in the economy by controlling costs without layoffs. He said the commercial loans division had performed well, though it remains challenging with historically low interest rates.
“We’ve never lived in an era with such suppressed lending rates,” said Neigum, adding that other services, such investment and wealth management, is an expanding service area.
“A credit union relies continuing to listen to members and bringing value to them.”
The AGM also heard that in 2016, Servus’ assets increased to $14.8 billion, including $521 million in new loan and $60.4 million in deposits.
Results were announced at the credit union’s annual general meeting, held March 8, stating income fell by $5 million to $124 million for the fiscal year. That’s prior to a $48.1-million patronage payout to members.
In other voting, Jonathon Holt, a Calgary-based business consultant and a board member since 2011, was also re-elected, and was subsequently named board chair.
Former vice-chair Penny Reeves was also re-elected.
Holt was the top vote-getter with 1,638, followed by Dooley (1,525), Reeves (1,446) and Neigum (1,350).
Maureen Gander, formerly of the Alberta Carpenters Pension Fund, finished in fifth in voting for four positions and three others also were on a vetted ballot.