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South San Francisco Conference Center

The Police Credit Union Holds its 67th Annual Meeting Virtually for the First Time

With the current health restrictions in place, we were pleased to be able to host our 67th Annual Meeting via a virtual platform this year allowing our members to join from the comfort of their own homes.

Chairman John Goldberg kicked off this year’s meeting speaking about the new programs put in place in 2020 during an unprecedented and very challenging time to help our members and their families. These included loan deferrals, low interest emergency loans and a unique debt forgiveness program at no cost for our active law enforcement members. Additionally, he spoke about our need for infrastructure growth in order to meet ever-changing future demands for improved convenience and technological innovation. He concluded by noting that we have outgrown our current Irving Street branch location and will be moving into a new location one block east on Irving Street in early 2022 that will allow us to continue to serve our members in the Sunset.

President/CEO Eddie Young also spoke about how 2020 was a year filled with uncertainties, disruption and challenges, but noted how The Police Credit Union was able to optimize our technology and infrastructure to keep members and staff safe and keep our branches open. He mentioned the various safety protocols put in place within 30 days of the start of the pandemic and new financial relief and support offerings for members due to the steep economic impact of COVID-19. Despite these challenges, he proudly observed how the credit union remained on solid financial footing and maintained a robust net worth ratio of 12.65 percent, allowing us to weather extreme financial storms such as the one experienced in 2020.

Additionally, President/CEO Young brought up two significant milestones. One being the very strong performance of our mortgage loan program—in 2020 we funded the highest number and dollar amount of home loans in our credit union’s history. Another key milestone in 2020 was that our credit union surpassed the $1 billion mark in assets in May, well ahead of schedule.

The results of the 2020 Election Committee were announced by Joe Reilly (on behalf of Committee Chairman Steve Tacchini). Both incumbents John Goldberg and Michael Hebel were reelected to the Board of Directors. For the one position open on the Supervisory Committee, incumbent Barbara Brewster was reelected.

Scholarships and Awards

Following the election results, President/CEO Eddie Young announced the scholarship recipients for 2021.This year’s recipients were Kelly Higa, Bridget Laffey, Megan Lee, Megan Ma and Owen Walsh.

Click here to meet our 2021 Scholarship Recipients!

We were also pleased to award this year’s recipient of the Margaret Mahoney Employee Service Excellence Award to Melinda Modeliste who received an average member satisfaction score of 6.71 out of 7 for providing excellent member service. Congratulations Melinda!

The meeting concluded with Board of Directors Chairman John Goldberg thanking everyone in attendance and adjourning the meeting.

We would also like to congratulate all the winners of our gift-card prize drawings which were announced throughout the annual meeting.

Annual Report

Please click here to download a copy of our 2020 Annual Report.

Recording of Our Annual Meeting

If you missed the meeting, or would like to rewatch the event, you may access our video recording by clicking the button below.

Watch a Recording of Our 67th Annual Meeting