GENERAL MANAGER

Gerald Paddock

How do you measure a year? Maybe the best way is to compare it with previous years.

“Have we met the needs of our member?”

As you know, your Board of Directors and Management team meet in order to map out strategic plans and success measurements that will help us to determine the answer to the above question.

 I would like to share our successes with you by zeroing in on a few of our strategic objectives.

Our first objective is to be the Financial Institution of choice in our area. This means that we must, at some point in time meet the needs of the majority of people in this region. Even though we have a long way to go, we feel we are making progress.

Another objective is to ensure that we are financially strong. This strength will enable us to meet member’s needs not only now but well into the future. In order to accomplish this, our reserve levels, which would include member equity shares, need to continue to increase not only in amount but also as a percentage of our overall asset base.

One of the most important assets of any organization but particularly of a credit union is its staff. Without a knowledgeable, mature, hardworking and dedicated employee group, we would accomplish very little. The strategic objective in this area is to be the employer of first choice in the communities we serve. We are very proud of the progress we have made in this area.

When we think of meeting the needs of people perhaps the most important success measurement has a direct relationship to competitive pricing and the return of profit to our members. As we look back over a few years and in particular the last three we are very proud to have been able to return to the members a significant amount of the income that we have made as a cooperative group.

One final area that we want to mention is that of Community Commitment. Two years ago your board of directors determined that they would increase our level of financial assistance particularly in the Social Responsibility area. In the year 2003-04 we contributed through marketing, donations and social responsibility of approximately $260,000.

As an overview of our last fiscal year we can say it was very challenging and rewarding. We see our community continuing to grow and expand as it attempts to keep pace with the economic development evident in this energetic northern area. As part of this community, it is our intention to try to not only keep pace, but to support our members as they reach out to achieve their own individual success measurements and accomplish their dreams.

I again want to acknowledge the dedication and hard work of the staff, management, board of directors and committee members of North Peace Savings and Credit Union. I particularly want to thank you the members. This is your organization, it exists to meet your needs, and only because of your continued support can we move forward together in the years ahead.