Signing In-Members and their guests signed in as they arrived.  Each person received a ticket to what they later found out was for a surprise raffle we held.
	Time To Be Serious- The meeting was called to order at 7:13p.m. Ken Mastenbrook began by welcoming the members to the 72nd Annual Meeting.
	(Left) Chairman Mastenbrook informed members of the handouts available for their viewing on each of the tables.  Some of these handouts included the financials of the credit union for 2006, minutes from the 71st Annual Meeting, and a leaflet with a short biography of the current Board of Directors. (Right) President Brunner welcomed everyone and said he would try to keep his statement short; He began by focusing on the balance sheet highlights.
	As something new this year, ALLCO raffled off seven cash prizes to members in between meeting topics.  There were four $50 prizes and three $100 prizes.  Tickets for the raffle were handed out upon arrival as members signed in.

 

 

Annual Meeting Highlights

 

Balance Sheet Highlights

• Loan growth was 26.5%, increasing to $79 million
• Increase in lease loans of $3 million
• Total assets ended up at $85.452 million
• 20% increase in savings accounts
• Equity ended the year at $7.5 million

Income and Expenses

• Real Estate loans increased 63% from 2004
• We paid out dividends totaling $1.9 million, a 64% increase from last year (89% of this was paid to share dividends)
• ALLCO pays the highest dividend rates in the Milwaukee area
• For the 1st time in ALLCO's history, net income exceeded $1 million

Member Referral Cards

• Small stacks of referral cards were put on each table
• Our members are our best form of advertising; we want to pay members for referrals and being our advertising mechanism

Board of Director Nominations

• Director Hofhine, Chairman of the Nomination Committee, placed in nomination the names of Ed Miller, Kevin Kirst, Tom Bethhauser, and Bob Wang.
• No additional nominations were made from the floor; Director Hofhine closed nominations

No old or new business was brought forth.  The meeting was adjourned at 7:38 p.m.

  

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ALLCO West Allis Milwaukee County 6512 West Greenfield Ave. West Allis, WI  53214 Phone: 414-256-7880    Fax: 414-256-7884  1-800-947-1770	Drive-Up & Lobby Hours  Officers/Board of Directors Contact Us	ALLCO Grafton Branch Ozaukee County 2190 Wisconsin Ave. Grafton, WI  53024 Phone: 262-375-9599   Fax: 262-375-9866 1-800-947-1770
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