Andrews FCU Annual Meeting

  |     |   397 posts since 2011

The meeting was conducted yesterday online. It lasted less than one hour. There was studied attention throughout to results and outcomes through December 31, 2019, with much discussion and elaboration. There was not, until the very end of the meeting and then only in response to a question from the attendees, any mention of pandemic impact on credit union financials. The claim at that point was that all is well.

In fact that rosey "all is well" signal was order of the day throughout the meeting. Seldom was heard, from any of the Andrews potentates, any sort of discouraging word whatsoever. This despite Andrews' current "C" rating over at Weiss Ratings, with profitability and liquidity clearly not faring very well at all. And that was before the pandemic.

  |     |   75 posts since 2019
Thanks Kaight for the cliff notes.
  |     |   151 posts since 2020
Excellent report...what seems to be lacking at meetings is a discussion of a crisis management plan of action, ie we’ve seen the Great R and financial impact (lessons learned) from a mere 12 years ago are not being appreciated?

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