Board of Director Nominees
The following three individuals have agreed to let their names stand as nominees for the Board of Directors for Christian Credit Union. Two positions are to be filled. Please see the Nominee profiles below.

Loretta Monsma
Loretta has been a Chartered Accountant at the Halpert Monsma firm since 1989. Loretta and her husband Doug have three children. They are active members of First Christian Reformed Church of Edmonton where Loretta is currently a member of the Administration Committee. Loretta is also a member of The King’s University College Finance Committee. Her education background includes attending King’s and NAIT and obtaining both CMA and CA designations.

Loretta lists her strengths as her financial background and willingness to give back to the community. She comments that “Christian Credit Union is a Christian, professionally run organization and provides a much-needed service to its members and the community.” Loretta has served on the Christian Credit Union Board for the past 3 years and would be honoured to continue. Loretta has been a Credit Union member since 1995.

Fred Johannesen
Fred is a businessman and President of COBALT Business Systems. Fred and his wife Melanie have two children and are active members of West End Christian Reformed Church in Edmonton. At church, Fred has served on the Executive Council, Church Council, as a deacon, youth mentor, and a Sunday School teacher. He is currently guitarist on the praise team “Witness”. Fred also serves on The King’s University College Foundation Board, and is Chair of the Foundation’s Investment Committee. Fred has a gift for fund raising and has volunteered on The Edmonton Society for Christian Education’s Golf Tournament Committee, 2002 Grey Cup Breakfast, and various other fund raising causes.

Fred lists his strengths as general business acumen, good understanding of small/medium business needs, and financial markets. With these skills, he’s says he’s eager to help the Credit Union Board and it’s CEO to grow and expand the Credit Union to offer more products and services to meet member needs.

Fred has a BSc in Mathematics from University of Alberta and has been a Christian Credit Union member
since 2003.

Peter Van Bostelen
Peter is a retired chemist who worked for 30 years as a Quality Control and Safety and Loss Control Manager. He has a PHD in chemistry. Peter is married to Sonja, and they have five children who are all married. Peter has been a member of Christian Credit Union since 1980 and has served on the Credit Committee since 1990. He attends the St. Albert Canadian Reformed Church and has served as Elder and Chairman of Council.

Peter has also served the community as chairman of the Canadian Reformed School Society of Edmonton, member of the St. Albert Community Health Council, member of the Sturgeon Community Hospital Bioethics Committee, and canvasser for Salvation Army and Heart and Stroke Foundation.

Peter believes that being a board member would be an interesting challenge and that his broad background and life experience would be an asset to Christian
Credit Union.

Please check the next issue of the Difference newsletter for more information.

Proposed Change to Bylaws
Five years ago, the maximum amount of common shares was increased from five hundred ($500) to one thousand ($1,000). At the time we made this change it was part of our overall strategy to increase our equity in response to our rapid growth. With an increase in common shares as part of our strategy, we have been successful in maintaining our equity position during the last five years.

We have been blessed with an increase in assets from $91 million on Oct. 31, 2005 to $162 million on Oct. 31, 2009. We are thankful for this significant growth but this growth rate has prevented the Credit Union from achieving its goal of increasing our equity position. Therefore we are requesting approval to increase the maximum amount of common shares from $1,000 to $10,000. Although this is a significant increase, the bylaw includes a clause that allows the Board to implement policies so that the move to $10,000 can be implemented gradually without requesting frequent
bylaw changes.

In addition, the change to a new banking system on March 5, 2010 will change the way common shares are held at the Credit Union. Currently, common shares are assigned per account but in the new system common shares are assigned to each individual or organization no matter how many accounts they might have.
In order to permit these changes, it is necessary to make two amendments to the Bylaws of the Credit Union. Therefore the Board is requesting approval for the following Bylaw amendments:

It is proposed to amend Sections 2.5 and 3.1 of our Bylaws as follows:

2.5 Common Shares
Unless otherwise provided for in these Bylaws, all members each individual or organization shall own a minimum of twenty-five (25) common shares of the Credit Union.

3.1 Maximum Shareholding
The maximum amount of common shares that a member may hold in any one (1) account each individual or organization may hold shall be equal to one ten thousand (1,000 10,000) common shares or such lesser amount stated in the policies of the Credit Union as approved by the Board from time to time.

These proposed bylaw changes will be presented for approval by the membership at our Annual General Meeting on February 19, 2010.

Election Dates and Procedures
Elections will be conducted at Edmonton and Lethbridge branches from January 18 – February 12, 2010. All members are eligible to vote for Board of Director nominees. If you are unable to vote ‘in branch’, a mail ballot must be requested in writing with your name, account number and signature, no later than January 22, 2010. Mail ballots must be received no later than February 12, 2010.

Results will be shared at the Annual General Meeting on February 19, 2010.