Strong financial performance characterized 2022 at St. Mary’s Bank, which held its Annual Shareholders Meeting on Wednesday, April 19.
“We are on track, financially and strategically,” said Ken Senus, ninth president and CEO of St. Mary’s Bank, founded in 1908 as the nation’s first credit union. “We continue to thrive and grow steadily each year.”
St. Mary’s Bank concluded 2022 with $1.46 billion in assets, $1.3 billion in total deposits, $1.2 billion loan portfolio, and a net income of $11.7 million (an increase of more than 7 percent over 2021).
2022 also marked St. Mary’s Bank’s continued commitment to philanthropy, as the Board of Directors approved a contribution of $990,000 to the St. Mary’s Bank Charitable Foundation, which supported 131 nonprofit organizations.
At the Annual Shareholders Meeting, Senus expressed personal enthusiasm for the credit union’s launch of the 603 Account, which he described as an extension of St. Mary’s Bank itself. For every purchase transaction made with a 603 Account debit card, St. Mary’s Bank donates 6.03 cents to a New Hampshire nonprofit.
“We give our members the ability to choose a non-profit category to benefit children, animals, the environment, or food and shelter,” said Senus. “With our 603 Account, small change makes a big difference, and it’s one more way for the credit union to give back.”
Steve Grzywacz, Chairman of the Board of Directors of St. Mary’s Bank, recognized the contributions of Daniel Healy, who is retiring from the Board. Healy was appointed to the Board of Directors in August 2005 and elected its Chairman in 2016, serving in that role for three years.
“While Dan’s service to St. Mary’s Bank concludes due to term limits, his impact to our credit union and the industry will be long reaching from his advocacy efforts,” added Grzywacz. “His contributions to St. Mary’s Bank, the nation’s first credit union, have been outstanding.”
Grzywacz also congratulated Anne Canty, Senior Executive Assistant and Corporate Secretary, on her retirement and recognized her nearly 36 years of service to the credit union.
Voting results were also announced at the Annual Shareholders Meeting. For the Board of Directors, David Bellman, Guy Chapdelaine, and Donnalee Lozeau were each elected to a three-year term, while William Stevens was elected to a one-year term.
Donnalee Lozeau (three-year term), Jason Cole (two-year term), and Caroline Owen (one-year term) were elected to the Supervisory Committee. David Bellman, Craig Donais, Elizabeth Hitchcock, and William Stevens were each elected to a one-year term on the Credit Committee.
Steve Grzywacz, Chairman of the Board of Directors of St. Mary’s Bank,
calls the 114th Annual Shareholder’s Meeting to order.
Ken Senus, President & CEO of St. Mary’s Bank at the 114th
Annual Shareholders Meeting.