Spe­cial meet­ings sched­uled to out­line changes at In­no­va­tion Credit Union

The Southwest Booster - - NEWS -

In­no­va­tion Credit Union will be host­ing a pair of spe­cial meet­ings for their mem­bers in Jan­uary to ex­plain a se­ries of changes which are cur­rently oc­cur­ring. One meet­ing will be hosted Jan. 27 in North Bat­tle­ford and the other on Jan. 28 in Swift Cur­rent. The meet­ings will pro­vide an op­por­tu­nity to re­spond to mem­bers’ ques­tions re­gard­ing re­cent man­age­ment changes at the credit union. The meet­ings will also pro­vide an op­por­tu­nity for mem­bers and the board of In­no­va­tion Credit Union to dis­cuss the re­cent in­volve­ment of Credit Union De­posit Guar­an­tee Cor­po­ra­tion (CUDGC), which will be­gin su­per­vi­sion of the credit union as of Jan. 21.

“In­no­va­tion’s board and man­age­ment wel­come the in­volve­ment of CUDGC and are looking for­ward to work­ing in col­lab­o­ra­tion with the Cor­po­ra­tion through this pe­riod of tran­si­tion,” said Max­ine Leschuk, Pres­i­dent of In­no­va­tion Credit Union. “We are strongly com­mit­ted to re­spond­ing to the con­cerns of mem­bers and we will work closely with CUDGC to­ward that goal.”

Both In­no­va­tion Credit Union and CUDGC con­firmthat the cur­rent sit­u­a­tion is not re­lated to any mon­e­tary is­sue.

“While the man­age­ment re­struc­tur­ing at In­no­va­tion is not re­lated to any fi­nan­cial mat­ter, the over­sight pro­vided by CUDGC will en­tail a higher level of mon­i­tor­ing and re­port­ing than would nor­mally be the case,” says GarthMelle, CEO of CUDGC.“The credit union re­mains strong and prof­itable and is proac­tively re­spond­ing to the chal­lenges of op­er­at­ing in to­day’s busi­ness en­vi­ron­ment. There is cer­tainly no risk to de­pos­i­tors and it is busi­ness as usual for mem­bers seek­ing ser­vice from their credit union.”

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