The 79th Annual Meeting of Tri-Point Federal Credit Union was held on Friday 6, June, 2014, in the office of Tri-Point FCU at 11 Stanwix Street in Downtown Pittsburgh. Members who attended the meeting received reports on the financial condition and safety and soundness of the Credit Union.
Mr. George Kenhart presented the Treasurer’s and President’s Report, in which he spoke of the financial condition of the credit union. He explained to the members present the reasons for the operating loss in 2013. He also spoke about the fact that over the past few years it has become more evident that that Tri-Point FCU may find it difficult surviving in today’s market. The credit union have lost membership and loans to the much larger community credit unions who can offer many more products and services with better pricing in a more efficient ways. Also, it has become increasingly difficult to replace board members who have retired from the board with younger members with new ideas. Relationships have been established with a couple local credit unions for merger candidates for our credit union but we are going to try to keep operating as we have in the past but a merger is possible in the next 2 years. We will do everything we can to find the best possible merger partner for our membership in order for members to keep receiving the same quality service they have come to expect.
Elected to serve a two-year term on the Board of Directors was Marcy G Ashley and she was again named Chairman of the Board at the reorganization meeting that followed. Everyone attending enjoyed a light lunch afterward.
Anyone wishing to receive a copy of the 2013 Financial Report Booklet presented at the Annual Meeting may call or write the Credit Union office.