FRMCU Annual Meeting and Scholarship Recipients
The Annual Meeting of the Fall River Municipal Credit Union was held at its Main Office Located at 333 Milliken Boulevard, Fall River, MA on Saturday, April 27, 2024. All Reports and information presented reflected the fiscal year 2023.
During the meeting President and CEO, Matthew G. Schondek along with Chairman of the Board Carl Garcia, Jr. and various committee chairpersons presented the Credit Union’s financial status and committee reports. President Schondek noted that since its inception in 1930, Fall River Municipal Credit Union has been focused on providing the financial products and services members expect, with the personal touch they deserve. Chairman Garcia also added that Loan Balances increased by $41.5 million dollars on new volume and 924 loans were originated in 2023 for a total of $57.4 million. This success has been brought on by diversifying the Credit Union’s portfolio to include Boat Loans, Manufactured Home Loans and Automobile Loans.
President Schondek also noted that 2023 reinforced the need for and importance of helping those in our community. Whether it is donating to local charities as part of our dress down Fridays, bringing in donations for food, coat, or toy drives; or as we saw recently, helping to clean up Fall River on Earth Day, employees of FRMCU are here to help. President Schondek also noted that FRMCU will be hosting a Shred-it-day on June 22nd at the Main office from 9am-12pm to further extend our support in the community.
Chairman Garcia and President and CEO Schondek thanked the Board and staff for their continued hard work on behalf of our members and FRMCU members for their continued support in allowing us to serve them. President Schondek concluded by saying, “We appreciate the loyalty of our members who trust us as a financial partner. We will be here to help our members as we face the challenges of the current economic environment of higher rates and inflation.”
The Annual Meeting also included the election of directors. Re-Elected to three-year terms as Director were James Machado, Michael Shea, and Carl Garcia. Re-Elected to two-year terms as Director were Janice Santos and Carl Sawejko. Re-Elected to a one-year term as Director was Russell Oagles, Jr.
In attendance at the Annual Meeting, were this year’s Scholarship recipients. Six Fall River Municipal Credit Union Scholarships were awarded to qualifying members currently enrolled in or who have been accepted to an undergraduate program of study at an accredited college or university. All recipients received a $1,000 scholarship. This year’s scholarship recipients include Emma McDonnell, Elizabeth LaCroix, Jaelyn Dinkins and Andrew Doucette all of Fall River, Julia Lanczycki of Somerset, and Sofia Estrella of Assonet.
“The Board of Directors, Management and Staff wish all of the 2024 Scholarship recipients’ success in their future endeavors.” said FRMCU President and CEO, Matthew G. Schondek.
