Marilyn Van Dolson, president of the Silverado Credit Union, reeled off a number of positive trends in the national economy for guests at the annual membership meeting recently. She reported the following good news:
1. The unemployment may drop to 4.5%.
2. More workers will move into better paying jobs.
3. Auto sales will remain high, a guide to consumer confidence.
4. Low energy costs are boosting an increase in savings.
Van Dolson reported that the Angwin credit union has created auto loans totaling $1,734,761 and real estate loans totaling $29,842,970. The total loan portfolio has been boosted to $32,592,624, or 85.36% of deposits. In short, it is serving a larger number of residents, who need to borrow from time to time.
She reported that delinquent loans, measured by 60 days of failure to make payments, are 1.22% for credit unions of comparable size. But the figure for the Silverado CU is zero.
The new electronic home banking and bill payment program which was initiated a year ago is making transactions easier for members.
Current members of the Board of Directors include:
John Nunes, Chairman
Curtis Church, Vice Chairman
Sherrilyn Roth, Secretary
Marilyn Van Dolson, Treasurer
Michael Grimes, Member
Jeff Veness, Member
Chris White, Member
Members of the Supervisory Committee are:
Duane Barnes, Chairman
Daniel Madrid, Member
Mark Pacini, Member
Van Dolson reaffirmed the credit union's long history of service to the Angwin community. "Our Number One goal is to provide you, our members, with courteous, helpful and knowledgable service."