Remembering two departed credit union heroes. Also, board election results.

  January 2017  

Former board member Frank Barker remembered  

The passing of longtime CCCU board member Frank Barker was noted with high regard for his work on behalf of the non-profit organization, as well as many other community and charitable efforts in Clark County. Barker, 75, succumbed Monday, January 23 following a brief illness.   

Frank joined the CCCU Board of Directors in 1983 and served as a volunteer, helping to guide over two decades of rapid growth. He was a member of the board in 1986 when Wayne Tew was selected to become the new President/CEO of the credit union. With new management direction and a lot of hard work, the credit union grew by over $300 million in assets.   

“Frank Barker was dedicated to the co-operative principles that credit unions espouse. People helping people is the best way to serve. His 22 years on the board made CCCU just one of the organizations that was blessed by his leadership and volunteering spirit,” according to Wayne Tew. Tew retired in August, 2015.  

  Frank came to Las Vegas in 1962 and retired as a captain with LVMPD after 36 years of service. He had served as an instructor in the training academy, commander of the detective bureau as well as intelligence, organized crime and the gang special unit.

He was a founding member of several community organizations including Nevada Child Seekers and the Injured Police Officers Fund. He also served many years as a Boy Scout leader, having earned scouting’s top adult leadership rank as a Silver Beaver.  

  He was well-thought of at Clark County Credit Union by staff and members alike. “CCCU remembers Frank as a great friend of the credit union and a solid and reliable member of the board of directors,” commented Matt Kershaw, current President/CEO. “He lived the high principles in practice that he always spoke about, and was a kind and supportive man. Frank will always be regarded here with love and respect,” said longtime employee Mark Andrews, CMO.  

Many thanks, Frank for all your kind words and wonderful service. CCCU remembers you.  

A locally published obituary may found at the following link: http://obits.reviewjournal.com/obituaries/lvrj/obituary.aspx?n=frank-barker&pid=183743828&fhid=12178  

  Breaking News: Another $3 million bonus dividend declared!  

  CCCU did it again! After another great year, we were able to fund a $3,002,536.08 million in bonus dividends to our member/owners on January 20, 2017.   

  The Board of Directors was pleased with the results of 2016. Eric Jorgenson, Chairman of the Board, commented, “It’s our goal to operate as efficiently as possible. When we do, we love to share the extra earnings with our member/owners. Although the bonus dividend is something we cannot guarantee year-over-year, I’m pleased that we were able to distribute over $3 million again this year.”   

  “We had a strong year for loan growth and new member growth,” said Matt Kershaw, president and CEO, referring to the 14.30% loan growth and 10.39% new member growth.  “We surpassed 41,000 members this year.” Members have shared more than $56 million dollars since the company began the program in 2001.  

  This year’s bonus dividend was deposited into member’s accounts on Friday, January 20. Nearly 650 member accounts received more than $500.00 as a dividend, due to the volume of business they do with the credit union. “Every qualified member received at least $20,” said Chief Marketing Officer, Mark Andrews.   

  Members were overjoyed to see the money automatically deposited in their accounts. "Thank you CCCU! Hands down the best, most personable, sound and trusted financial institution for my family's money. You are the gold standard and I'm proud to be a member!" said Lawrence S. in an email response to the bonus dividend announcement. (We love you too Lawrence!)  

  Other grateful members included Christopher D., who said, "Amazing! Clark county Credit Union is the best!! Thank you so much for all you've done for me in the past few years! The staff at every location I've visited has always been so helpful and nice. So happy to be a part of the CCCU family! Here's to a fantastic 2017!"  

  The bonus dividend comes after CCCU ended 2016 with a healthy net worth ratio of 12.42% (peer average is 10.67%). The credit union closed the year with $646,969,087 in assets. The Board of Directors, Audit Committee, staff and management thank you for your loyalty and support. We consider it a pleasure to work for you as we provide personal financial services in a not-for-profit environment.  

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  CCCU maintains a comfortable and safe 11% net worth ratio as a buffer against possible adverse financial conditions. CCCU’s operations are examined annually by the Nevada State Financial Institutions Division. The credit union operates under a state charter formed in 1951. Deposits privately insured by American Share Insurance.   

  Annual Election Results  

This year’s CCCU official annual meeting took place on Thursday, January 26. Eric Jorgenson, Chairman of the Board of Directors, welcomed members and staff to review the results of 2016, discuss plans for 2017, and celebrate the recent bonus divided of $3,002,536.08.  

The nominating committee reported that incumbents Debbie Conway, Elise Haney and Ted Olivas were re-elected to two-year terms on the board by acclamation, as they ran unopposed in this year’s election.  

CCCU’s fourth quarter assets ended at $646,969,087, a growth of 10.38% for the year. “We’re pleased with the results of 2016 and looking forward to yet another successful year here at CCCU,” Matt Kershaw said to the members and staff in attendance at the meeting.   

CCCU staff and management are pleased to acknowledge the efforts and time commitments offered by our volunteer board and audit committee. We thank them for their dedicated service.   

Officers at the credit union are listed as follows:  

  Our volunteer Board of Directors, elected by our Members:

  • Eric Jorgenson
  • Ted Olivas
  • Elise Haney
  • Debbie Conway
  • Michael Schramm
  • Ed Zagalo
  • Doug Spring

  Our volunteer Audit Committee, appointed by the Board of Directors:

  • Spencer Luth
  • Marc Joseph
  • Sabrina Mercadante
  • Curtis Myles
  • Steve McLean

  Our Senior Management Team

  • Matt Kershaw, President/CEO
  • Christie Jordan, Chief Financial Officer
  • Mark Andrews, Chief Marketing Officer
  • Kelli Cullen, Chief Operating Officer
  • Fred Howard, Chief Technology Officer
  • Lynn Reiter, VP of Human Resources

Remembering Chad Parque

January 9^th was Law Enforcement Appreciation Day. CCCU celebrated our local law enforcement agencies all month and reminded our members to say “thank you” to those that risk their lives on a daily basis to keep our communities safe.

Tragically, just a couple of days before Law Enforcement Appreciation Day, we lost one of our own local officers. North Las Vegas Detective, Chad Parque, passed away on January 7 after a wrong-way driver crashed into his vehicle while he was on duty.

All of us at the credit union are sending love and prayers to Chad’s family and fellow officers during this difficult time. 

CCCU is sponsoring another Neighborhood Health Series at Roseman University. Come join us on Thursday, February 16 from 5:30 to 7pm as Stephanie Wragg addresses current trends in medical education, its current structure and future directions. See the flyer for more details and registration information. 