AVCU Business Meeting Agenda Guest Speaker – Kai Samson Report of the Nominating Committee The Committee sent to member credit unions notice of the election process and solicited interest from potential candidates on March 21st of this year. The Committee then met to review candidates and decided to place in nomination Jean Giard of Vermont Federal Credit Union and Bob Lake of Green Mountain Credit Union. A report to that effect from the committee was sent by email to member credit unions on May 9th. No petition nominees for addition to the ballot were received by the May 25th deadline. As such, the nominees on the ballot remain those named by the Committee. Since there are two candidates for two expiring three-year terms, we are pleased to declare nominees Jean Giard and Bob Lake each re-elected for another term by acclamation. Respectfully submitted, Report of the 2024 – 2025 Audit Committee May 8, 2025 Board of Directors On Thursday, May 8, 2025, the committee met to review and receive the financial reports of the Association of Vermont Credit Unions and its subsidiary Association of Vermont Credit Unions Services Corporation. We met via teleconference with Association President Joe Bergeron, EVP/Chief Operations Officer Carrie Allen, Finance Administrator Mary Robert, and Jesse Rocheleau, Certified Public Accountant of A.M. Peisch & Company. The committee reviewed the report prepared by A.M. Peisch & Company, about which Mr. Rocheleau noted highlights and responded to Committee questions. After reviewing the report and supporting documentation, the Audit Committee found it to be thorough and understandable. The financial statements were found to be in balance, with proper accounting procedures being followed. Available as a separate document are the Consolidated Financial Position and Consolidated Statement of Activities for the Association of Vermont Credit Unions, Inc. and Subsidiary as of December 31, 2024. A copy of the Reviewed Financial Statements and Report is on file at the Association office and is available to member credit unions upon request. We want to thank Association staff and A.M. Peisch & Company for their cooperation in explaining and reviewing the financial report of the Association of Vermont Credit Unions, Inc. and Subsidiary. Respectfully submitted, Susan Leonard, Chair, New England FCU Minutes of the 77th Annual Business Meeting The seventy-seventh Annual Meeting of the Association of Vermont Credit Unions, Inc. (AVCU) was called to order by Chair Carrie Allen at 3:32 p.m. Secretary Brett Smith announced that the Official Call to the 77th Annual Meeting was emailed to all member credit unions on February 9th, 2024. The Credentials Committee Report was given by Secretary Smith, who stated that 8-member credit unions were present and participating virtually for a total of 16 delegate votes. A quorum was declared. A motion was made by Nate Cobb (One CU) and seconded by Jim Adorisio (NorthCountry FCU) that Robert’s Rules of Order and the “Rules of Order” as published on the Annual Reports page of AVCU’s website be adopted as governance for the meeting. SO VOTED. Introductions – Chair Allen introduced AVCU Board Treasurer Lisa Huyer (NorthCountry FCU), Secretary Brett Smith (One CU), Director, Jean Giard, (Vermont Federal CU), Director Bob Lake (Green Mountain CU), Director Sean Gammon (802 CU) and Vice-chair Rick Hommel (NEFCU), were absent. She then introduced Thomas Brock, AVCU’s Legal Counsel from the firm of Brock and Brock, PLLC (participating virtually). She also welcomed Jesse Rocheleau, CPA, from AVCU’s accounting firm of A. M. Peisch & Company, LLP, to today’s meeting, also participating virtually. Ms. Allen appointed Mr. Brock to serve as parliamentarian for the business meeting. Chair Allen thanked President Bergeron and the staff for the work done during the previous year. Minutes – A motion to dispense with the reading of the Minutes of the 76th Annual Meeting and to accept them as published on the Annual Reports page of AVCU’s website was made by Jim Adorisio (NorthCountry FCU) seconded by Nate Cobb (One CU). SO VOTED. New Business – None Elections – Chair Allen called upon nominating committee Chair Brett Smith to announce the results. He thanked Election Committee members Jean Giard (Vermont FCU), and Wanda Dunham (White River CU), for their service. He noted that the final report of the Nominating Committee is published on the Annual Reports page of AVCU’s website. He then announced that no petition requests to add candidates to the ballot were received by the announced deadline of May 2nd, both of the member credit union’s electoral votes were cast for the three candidates who were nominated by the Committee, so the slate of candidates remained unchanged. Since no petition candidates were received, the candidates presented in the Committee’s report remain Lisa Huyer (NorthCountry FCU), Stacey Benoit, (802 CU), and John Dwyer, (New England FCU). As there are three candidates for three expiring three-year positions, it was declared incumbents Lisa Huyer, Stacey Benoit and John Dwyer are elected by acclamation to the three-year positions. Chair Allen then congratulated all returning and newly elected candidates. She also gave thanks to outgoing directors Rick Hommel and Sean Gammon noting that they would be recognized appropriately elsewhere in the weekends’ events. Reports – Chair Allen thanked the members of all AVCU Committees for their work throughout the year and encouraged all to use AVCU’s website, the member, associate member, and associate business member directories as a reference for Vermont credit union data throughout the year. Printed copies of the annual reports published online including financials which are available upon request were located at the credentials table upon entering the meeting. Chair Allen then called upon President Joe Bergeron for his management report, who commented on Association and Vermont credit unions operations during the past year. A motion was made by Nate Cobb (One CU) and seconded by Maribeth Spellman (Vermont Federal CU) to dispense with the reading of reports and accept them as published on the Annual Reports page of AVCU’s website. SO VOTED. Chair Allen then gave announcements for the remainder of the evening. Adjournment – The meeting was adjourned at 3:58 p.m. upon a motion by Jim Adorisio (NorthCountry FCU) and seconded by John St. Hilaire (Green Mountain CU). SO VOTED. Respectfully Submitted, Brett Smith, Secretary At a re-organizational board of directors meeting immediately following the AVCU Business Meeting, the following officers were elected for 2024/ 2025: Chairman – Carrie Allen
78th Annual Business Meeting Agenda & Rules of Order
Monday, 6/9/25 - 4:00 p.m.
(virtual via Teams)
Final report of the 2025 AVCU Nominating Committee
John Dwyer of EastRise Credit Union
Wanda Dunham of White River Credit Union
Stacey Benoit of 802 Credit Union
Report of the 2024 / 2025 Audit Committee
Association of Vermont Credit Unions, Inc
Association of Vermont Credit Unions Services Corporation
Lisa Huyer, NorthCountry Federal CU
Evelyn M Sirois, Members 1st CU
Minutes of the 77th Annual Business Meeting
Equinox Resort, May 17, 2024
Chair Allen appointed Mary Robert (AVCU) as Recording Secretary for the Minutes and noted that Jen Malroux and Michelle Fullerton (AVCU) had served as the Credentials Committee.
Old Business – None
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Vice Chairman – Jean Giard
Treasurer – Lisa Huyer
Secretary – Brett Smith
