Rochester credit union holds 50th annual membership meeting (06/27/04)

Rochester credit union holds 50th annual membership meeting

ROCHESTER, N.Y. - The Ukrainian Federal Credit Union, formerly known as Rochester Ukrainian Federal Credit Union, held its 50th annual membership meeting on March 28. The Slavic Pentecostal Church in Spencerport, N.Y,. hosted the meeting for the first time.

UFCU President Myron Babiuk, opened the annual meeting, noting that 2003 served as a milestone for the credit union since it culminated 50 years of dedicated service to the credit union's diverse membership coast to coast.

President Babiuk commended the hard work of the board of directors, the various committee volunteers, the CEO and management team, as well as the professional staff. Their dedication, he said, resulted in the opening of a new branch in Sacramento, Calif., and the merger with the Selfreliance Federal Credit Union in Syracuse, N.Y.

Tamara Denysenko, general manager and CEO, in her report stressed the credit union's many community contributions, as well as its financial and social achievements during the past years. These enabled the credit union's assets to exceed $101 million as of January 1, upon the merger with Selfreliance Syracuse FCU.

Also, thanks to the hard work of the Sacramento office under the direction of Branch Manager Alexandr Vasilenko, that branch saw its membership grow sharply in 2003. As of January 1, after the Syracuse Selfreliance merger, the Ukrainian Federal Credit Union with its headquarters in Rochester, N.Y., saw its membership exceed 10,000 members.

Treasurer Christine Oleksyn reported that the credit union continued to maintain sound income and expense ratios and return on assets even after paying out to its membership a special anniversary bonus dividend of $1 million.

Assistant Manager Oleg Lebedko reported on credit union operations and the new services implemented during 2003 for the credit union's ever-growing membership base. Of special interest were the new Internet services such as home banking, bill payer service and check imaging.

Albany Branch Coordinator Oksana Lupe, Sacramento branch representative Mykhailo Tkach and Syracuse Branch Manager Nadia Hayduke reported on their various branch activities.

Supervisory Committee Chair Anatole Koba and Educational Committee Chair Christine Kowcz provided additional reports.

At the end of the meeting Patrick Fahrer announced the results of the annual elections. Wasyl Kornylo, Lesia Telega and George Hanushevsky received the most votes and will serve on the UFCU board of directors for three years.

After the meeting, over 180 members and guests enjoyed a home-style dinner prepared by the Slavic Pentecostal Church women's group, as well as an exceptional artistic program of Ukrainian religious music and song performed by the Slavic Pentecostal youth.

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