Royal Credit Union members re-elect three to board of directors

Royal Credit Union (Royal) held its 58th Annual Meeting on Tuesday, April 26, virtually. Three board members were re-elected to three-year terms— Stuart Schaefer, Doug Olson, and Jennifer Mc-Donough.

• Schaefer has served on the board since 2010 and serves in the role of Vice Chairperson.

• Olson has served on the board since 1995 and serves in the role of Treasurer. Previously, he served as Chairperson.

• McDonough has served on the board since 1997 and serves in the role of Secretary.

At the Reorganization Meeting, Tom Huffcutt was elected Chairman; Stuart Schaefer was elected Vice Chairman; Doug Olson was elected Treasurer; and Jennifer McDonough was elected Secretary. John Sackett, Nancy Beltz, and Bill Blackburn serve as Directors.

In his Chairperson’s report, Huffcutt thanked the Members for helping Royal make a difference and create a positive impact. He stated the Members are the reason that Royal experienced financial success and the reason it could offer many financial benefits to its Members and communities. In 2021, Royal’s Members continued to experience the challenges of the COVID-19 pandemic. Royal remained agile and worked with its Members to help them through these unprecedented times. Huffcutt stated these past two years have been a time of change for everyone. With these changes comes growth, transformation, and new opportunities to create a positive impact for Royal Members. He also highlighted Royal’s accomplishments over the past year.

• Royal was honored to receive a grant from the Wisconsin Credit Union Foundation to fund the launch of the new finU program that offers virtual financial education for young people ages 14 to 19.

• Royal was recognized with a first-place Desjardins Youth Financial Education Award from the Wisconsin Credit Union League for its Test Drive Digital program, which provided high school students with a simulation of reallife financial management and monthly budgeting at age 25.

• Royal provided financial assistance to its communities through the nonprofit RCU Foundation. In 2021, the RCU Foundation committed over $2 million to 20 nonprofits in the communities Royal serves. Since its beginning in 2012, the RCU Foundation has committed over $7 million to nonprofit organizations.

• Royal merged with Peoples Choice Credit Union in Medford and Utilities Credit Union in Eau Claire. These mergers allow Royal to offer its many financial benefits to even more people.

• Due to its excellent lending rates, Royal experienced a record-breaking year in 2021 for consumer, mortgage, and business loans.

• Royal continued to improve its digital offerings in 2021, including enhanced real-time alerts informing Members of account activity within seconds, upgraded online applications for new personal and business deposit accounts, a new online mortgage application system to make it easier to apply for mortgage loans, provided additional ways to interact with Val, Royal’s virtual assistant including integrations with Google Home and Alexa.