Annual meeting notes



February 23, 2012



The 79th Annual Meeting of the Utilities Credit Union was held
February 23, 2012 at the Xcel Energy Sky Park Building,
1414 West Hamilton Avenue, Eau Claire, WI, 54701.









Chairman Seaholm called the meeting
to order at 5:00 PM.  There were 33
members present, constituting a quorum.


Chairman Seaholm introduced the members of the Board of
Directors and UCU Staff.


The minutes of the 2011 Annual Meeting were approved as


The slate of nominees for four (4) Board of Director
three-year terms were presented.  There
were four nominees on the ballot.
Chairman Seaholm called three times for additional nominations from the
floor.  Hearing none, nominations were
closed.  Elected to the Board for
three-year terms by unanimous vote of the membership were Karl Hoesly (I), Paul
Seipel (I), Lloyd Dallmann, and Mary Heimstead.


Vice-Chairperson Karl Hoesly called for Chairman Seaholm to
present the Chairman’s Report (copy attached).
Chairman Seaholm provided a verbal overview of the report contents.  In his overview Chairman Seaholm acknowledged
the support of the sponsor company, reported on last year’s Board activities,
noted UCU’s asset size, and summarized UCU’s investments, dividends, and
loans.  Vice Chairperson Hoesly called
for any questions from the attendees.  No
questions were raised.


Chairman Seaholm introduced David Amans,
President-Treasurer, to present a summary of the financial condition of UCU
(copy attached).  President-Treasurer
Amans highlighted notable information pertaining to the Balance Sheet, Income
Statement, and the Credit Card and HELOC programs.


Carol Lueke, UCU Staff, presented an overview of the 2011
Credit Report (copy attached).


Al Gruba, Examining Committee Chairperson, presented the
Examining Committee report (copy attached).


There were no communications, unfinished business, or new
business to address at this meeting.


Door prize drawings were held and the meal was served.


With no further business, the meeting was adjourned at 5:55


(These minutes have not been officially approved by the membership)

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