(SB) – Sioux Valley Community Credit Union (SVCCU) held its 72nd annual membership meeting Saturday (Aug. 23) at the Sergeant Bluff Rec Center, drawing a full house of participants. The annual event saw the election of several Board members (incumbents Trinette Patterson, Roland Foster, and Ann Hill, all of whom were re-elected) and acknowledgement of the Board members.
Board of Director members: Ann Hill, Chairman; Sandy Fetterman, Vice Chair; Ron Foster, Chief Financial Officer, and Deb Wilson, Secretary. Board Committee members: Tom Murphy, Credit/Marketing; Sheila Alioth, Credit/Marketing; Philip Welte, Audit/Fixed Assets; Trinette Patterson, Audit/ Marketing, and Crystal Unkel, Audit/Marketing.
Sioux Valley Community Credit Union Board of Directors (L-R): Sheila Aloith, Ann Hill, Ron Foster, Sandy Fetterman, Deb Wilson, Tom Murphy, Crystal Unkel, Phillip Welte, Trinette Patterson.
Photo by SBA
Each of the board members provided detailed information into respective areas of responsibility along with upcoming initiatives. The latter included the implementation of continued strategic planning, promotional CD rates, continued low loan rates, the increase in home loan portfolio, and what Sioux Valley Community Credit Union continues to do in making a positive difference each day in the Siouxland community.
SVCCU has three locations in Siouxland: Sergeant Bluff, Morningside, and Sioux City.
The year 2025, Ann Hill said in her presentation, was one of continued progress. She said SVCCU continues to maintain its direct consumer loans at $16-million (excludes home mortgages) since December 2024, the return of assets of .37% for the year-to-date, the grand remodeling of the Sergeant Bluff facility (reported in early June in the Sergeant Bluff Advocate), and the credit union’s vast support of community events.
Chair Sheila Alioth reported on the important loan rates and payback terms – an integral part of serving the loan needs of members. She pointed out the extensive training and certification of Financial Coaches through the Iowa Credit Union League. SVCCU Financial Coaches assist members in debt elimination and management of debt.
John Parks, CEO and Manager of Sioux Valley Community Credit Union, addresses members at the 72nd Annual Meeting.
Photo by SBA
“During 2024,” she said, “our members were granted 494 loans totaling $7,709,079.81 – an average of $15,295.80 per loan. Total loans in our consumer portfolio,” she said, “equals $17,479,049.78.”
Sioux Valley CCU boasts a phenomenal 200-plus members, ages 18 and under, who are credit union members, the latter of which accounts for $1.1-million in total assets in SVCCU’s total assets of $40-million.
Along with this, Alioth noted that “We can help younger members establish credit with a secure MasterCard.”
Chief Financial Officer Roland Foster, in his report, announced that SVCCU had its “largest net income in the 72 years of our [SVCCU] operation,” thanking the credit union’s “dedicated staff serving our loyal members [through] savings, loans and investments.”
He said that membership has seen a steady growth, noting that “…since 2012, 1,303 new members have come on board.” Along with the latter, he continued, “we have expanded our services [24] to our members.” Despite current uncertain economic conditions and a sluggish loan demand, he said “We continue to lead the way in Siouxland for auto loans.” Additionally, he said, SVCCU “Continues growth in its mortgage portfolio every month.”
Oversight of financial strength and stability of SVCCU was reported in a written address noting accounting records, internal controls, departmental responsibilities for plans, policies and procedures, and audits.
John Parks, Chief Executive Officer at SVCCU, greeted members throughout the early evening. He thanked the board members and SVCCU patrons for their loyalty.
