2020 Annual Meeting Goes Virtual
As with many things over the past few weeks, everyone has been asked to be flexible and to adjust to new ways of conducting business. The 2020 Hiway Federal Credit Union Annual Meeting was no exception to that. The 89th Annual Meeting was held on Wednesday, April 29 but due to the COVID-19 pandemic and to keep everyone safe, the meeting was held via audio conference only.
The main order of business for the annual meeting was to complete the election for the Board of Directors. We’d like to congratulate our returning Board directors Len Leitner, Patrick McGuiness and Sue Mulvihill.
Immediately after the Annual Meeting, the Board held a Reorganization Meeting to appoint our returning board officers:
- Patrick McGuiness, Chair
- Sue Mulvihill, Vice-Chair
- Jeff Schwalen, Secretary
Hiway’s 2019 Financial Highlights
Given everything, it’s sometimes hard to remember that 2019 was just a few months ago and 2019 for Hiway gave us a lot to appreciate and to celebrate. Hiway has grown to over 77,500 members, finishing 2019 with $1.24 billion in assets, $366 million in loan production and record debit and credit card transactions of $464 million. In addition to our strong growth, we had a good income year as well and we were able to provide outstanding returns to our member with market-leading certificate rates and investments in our long-term success.
According to Credit Union National Associate (CUNA), Hiway provided $16,336,951 in direct financial benefits to our members. These benefits are equivalent to approximately $215 per member or $452 per household. You can read more about our record-setting 2019 in our Annual Report.
Keep an Eye on Your Credit Score - Free
The U.S.’s three national credit reporting bureaus, Equifax, Experian and TransUnion, recently announced that they are offering free weekly credit reports to all Americans for the next year to help them protect their financial health during economic challenges caused by COVID-19. The reports will be free through April 20, 2021. You can go to the bureaus themselves, or visit annualcreditreport.com to access the reports.
So, When Will Lobbies Reopen?
A few days ago, Minnesota Governor Tim Waltz announced the statewide stay-at-home order will remain in place for at least another two weeks, through May 18.
As an essential business, Hiway remains open to serve you via our drive-thrus, call center and all of our easy-to-use digital channels. For the time being, our lobbies will remain closed, and we are busy developing plans to safely reopen our lobbies when the time is right. What will that look like? At this time we plan to first add scheduled appointments for Member Services and the Teller line, then when feasible we will add walk-in access, all with the appropriate social distancing controls in place.
We appreciate everyone’s understanding as we continue to follow recommendations from the experts while still working hard to meet your financial needs. Watch your email and hiway.org for the latest information.
Try Our Digital Services
With our lobbies remaining closed, we want to remind everyone that we have a variety of mobile solutions, including online and mobile banking and mobile deposit, available to help with your financial needs. For your cash needs, see our locator where you have access to 63,000 fee-free ATMs. They’re very easy to use, and we are here to help if you have any questions or issues.
From all of us at Hiway, thank you for being a member, and we wish you all the best during this time.