The national economy may have slowed in 2020, but the coronavirus pandemic didn’t stop the demand for services by members of 1st Cooperative Federal Credit union. The credit union reported continued growth at its 2021 annual meeting, held March 30.
The credit union’s assets increased by $1.3 million in 2020 to a total of $19 million, according to a report given by board Chairman Keith Avery. Loans held steady at $14 million.
“I want to encourage you to continue to spread the word on the benefits of being a 1st Cooperative member to your co-workers and your family members,” said Keith Avery, board chairman. “These days, you can do all your banking with 1st Cooperative.”
The credit union added 155 new members including 85 family members of employees.
Four directors were re-elected to the board. They include (top photos, left-right) David Collins, vice president of finance at Blue Ridge; Bob Paulling, CEO at Mid-Carolina; (bottom photos) Betty Welsh, vice president of finance and administration at Black River; and Linda Wright, a retiree from Tri-County Electric Cooperative.
The credit union, chartered in 1970 as the South Carolina Electric Cooperative Employees Credit Union, celebrated its 50th anniversary at this year’s meeting.
Credit union membership is open to electric cooperative employees, trustees and their family members, which includes spouses, parents, grandparents, children, grandchildren, siblings and in-laws. More information is available at www.1stCooperative.com/join