FRMCU holds Annual Meeting and Awards $9,000 in Scholarships

Fall River Municipal Credit Union held their Annual Meeting on Wednesday, April 16, 2025, at their Main Office, located at 333 Milliken Boulevard, Fall River.  All Reports and information presented reflected the fiscal year 2024.   

During the meeting President and CEO, Matthew G. Schondek along with Chairman of the Board Carl Garcia, Jr. shared highlights of the past year and various committee chairpersons presented the Credit Union’s financial status and committee reports. During the meeting, six deserving students were also awarded $1,500 scholarships, totaling $9,000 in support of our future leaders.   

“We had a good year of growth and an increase of community engagement at the Credit Union in 2024” said President & CEO Matthew Schondek.  He noted that with what began in 1930 by a group of firefighters banding together to form a credit union in the shadow of the great depression, is now an almost $300 million dollar Credit Union. 

Along with growing financially, community engagement also increased in 2024.  President Schondek commented on all of the Credit Union initiatives in 2024.  He noted that the Credit Unions’ engagement in the community has strengthened the bond between members.  President Schondek stated “FRMCU is a partner in the community beyond being just a financial institution.”   

Lastly, he stated that because of such an increase in the community and the stability of the Credit Union, FRMCU was honored to be recognized by Newsweek Magazine.  Newsweek analyzed “over 9,170 institutions, more than 71,000 customer surveys, and upwards of 1.9 million social media reviews.”  The result was their list of America’s Best Regional Banks and Credit Unions 2025.  Fall River Municipal Credit Union was given a five-star rating and is among the top Credit Unions in America.  In closing, he noted that FRMCU is honored by the recognition and will continue to do what we do best for our members. 

Chairman Carl Garcia, Jr. spoke to the members of the Credit Union thanking the Board and staff for their continued hard work.  He also thanked members for their continued support in allowing us to serve them.  He touched upon the growth of total assets, member share deposits, as well as the recent upgrade to the Credit Unions modernized debit card program and the launch of a touchless card option. Lastly, he noted that this implementation was part of the Credit Union’s ongoing mission to provide members with the best financial tools available.   

The Annual Meeting also included the election of directors. Re-Elected to three-year terms as Director were Christopher Carreiro and Scott O’Brien. 

The highlight of the evening was the awarding of six $1,500 scholarships to local area students who are members of the Credit Union and who are currently enrolled in or who have been accepted to an undergraduate program of study at an accredited college or university.  All recipients received a $1,500 scholarship.  This year’s scholarship recipients included Hunter Pearson, Elizabeth LaCroix, Abigail Saunders, Ava Pacheco, Ryan Vincent, and Madeline Polochick.  

“Our continued growth allows us to give back in meaningful ways” said the Chairman of the Board.  “Supporting the next generation through scholarships is one of the most rewarding ways we can invest in our future.”

The Board of Directors, Management and Staff wish all of the 2025 Scholarship recipients success in their future endeavors.” said FRMCU President and CEO, Matthew G. Schondek.