Why are you interested in being a member of Board?

I served on the board for two terms, it was a good experience, I learned a lot which has helped me over the years, its also an opportunity to give back to the community in which we live.

Since that time I have gained a lot of valuable experience.

Looking to the future it will give me an interesting thing to do in retirement.

The INCOME STATEMENT provides a picture of what the business performance has been during a given period of time. CASH FLOW INCOME AND EXPENCES ,

The BALLANCE SHEET gives you a snapshot of the ASSETS and LIABILITIES at a specific point in time.

LIQUIDITY basically means how quickly you can get your hands on  cash. LIQUIDITY is important its your ability to get your money whenever you need it to pay your bills. (Cash, savings accounts) liquid assets because they can be easily converted into cash when required.

What is more important? All three are important, probably INCOME STATEMENT because its how you function day to day.

PARTNERS MERGERS AND ACQUISITIONS What is your experience with merger strategies and their issues, benefits and challenges?

I have been through two major mergers. (CAW and CEP) the second between Family Savings and Avestel, started as a partnership talks and moved into a merger, had lots of potential which took much longer than expected to see the benefits (economy of scale).  We had so much in common on paper, but reality was a tough lesson.

• Different cultures, different boards, different brands, different unions.
• Two CEO’s, two FO’s
• Policy manuals and bylaws all had to be blended.
• it was like NOHAoHAS  ark for credit unions we had two of everything!
• One banking system but all the accounts were different, services fees, etc
• It was so bad at one point six months after the merger we had an emergency meeting and when the board was asked if they could turn back the clock and stop the merger the entire board said yes.
• It took years to see the benefits, today it’s easy to see it was a good idea.
• I was one of the swing votes at family saving that pushed through the merger.