Casera's 71st and Final Annual General Meeting

Casera's final Annual General Meeting reflects its journey of change.

Casera Credit Union’s 71st Annual General Meeting (AGM) occurred in person on Wednesday, April 12, 2023. It was also the credit union’s final AGM. In November, Casera’s members voted to merge with Access Credit Union.

Members heard reports from Robert Riddell, Casera’s Board Chair, and Chief Executive Officer Brent Thomas. They commented on Casera’s continued financial health in a highly competitive marketplace and reiterated the opportunities for continued prosperity in a merged credit union situation.

“Throughout the year, we responded to the challenges of inflation, volatile interest rates, increased technology costs, and expanded regulatory control,” Riddell said. “As a result of solid governance and a determined employee group, we experienced positive financial results in 2022.”

Operationally, Casera maintained strong growth of 10.04 percent to reach $512 million in assets. As well, deposits increased by 4.52 percent to achieve $452 million. CEO Brent Thomas, who will retire when the merger with Access Credit Union happens in July, said Casera’s adherence to a member-first approach allowed the credit union to hold its own despite the growing pressures. This solid financial base served Casera well when merger talks with Access Credit Union began.

“Merging with another credit union that shares the same values and vision as us has been part of our strategic plan,” said Thomas. “Getting the ball rolling with Access when we were in a position of financial strength and focused on the future provided benefits for our members, employees, and the community.”

Also highlighting the evening’s events was the presentation of Casera’s Community Awards to deserving leaders, volunteers, and groups. The annual awards, launched in 2016, recognize the hard work and dedication required to create more vibrant neighbourhoods.

Receiving Casera Community Leadership Awards were Angela Baraniuk, Murray Rougeau, and Kelly Wilde, with William “Bill” Blaikie and Robert “Doc” Holliday receiving theirs posthumously. Presented with Casera Community Enrichment Awards were the Transcona Council for Seniors and Transcona East End Community Club. Long-time member Herbert Kluger was also recognized. As a volunteer member of Casera’s maintenance committee, Herbert helped with minor repairs at all three Casera branches for nearly 40 years.

During his year-in-review presentation, Brent Thomas touched on Casera’s roots as the employee credit union of CNR’s Transcona Shops. Founded in 1951, the organization has grown and prospered, and its long journey of change continues.

“On November 15, 2022, our journey brought us to a decisive moment when our members voted for change,” Thomas said. “As a result, we’re ready to share our vision, strengthen our future, and express our cooperative spirit.”