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2022 FRMCU Annual Meeting and Scholarship Recipients

The Annual Meeting of the Fall River Municipal Credit Union was held at its Main Office Located at 333 Milliken Boulevard, Fall River, MA on Saturday, April 23, 2022. All Reports and information presented reflected the fiscal year 2021.

During the meeting President and CEO Schondek along with Chairman of the Board Carl Garcia, Jr. and various committee chairpersons presented the Credit Union’s financial status and reports of the Audit and Credit Committees. He noted Loan volume increased again in 2021, 25% over 2020 as we helped our members take advantage of continued low rates and expressed the hope for a continued upward trend. President Schondek noted that Shares grew 10%, up $19 million, and ended 2021 with balances of $214.6 million. Chairman Garcia noted that Millie Shaughnessy stepped down from the Board of Directors after 35 years and thanked her for her dedication.

Chairman Garcia and President and CEO Schondek thanked all staff and members of the board for their perseverance during the pandemic and dedication to serving the members of Fall River Municipal Credit Union.

The Annual Meeting also included the election of directors. Elected to three-year terms as Director were David Machado, Christopher Carreiro, Janice Carrigg and Scott O’Brien.

In addition to the Annual Meeting, the Credit Union also awarded Scholarships to seven area recipients. Fall River Municipal Credit Union Scholarships are awarded to qualifying members currently enrolled in or who have been accepted to an undergraduate program of study at an accredited college or university. All recipients received a $1,000 scholarship. This year’s scholarship recipients include Sarah Hartman of Dartmouth, Jason Arruda of Swansea, Hailey Amaral of Fall River, Avery Chapin of Assonet, Abigail Gajewski of Berkley, Devin Sylvia of Lakeville, and Maya Joncas of Tiverton.

“The Board of Directors, Management and Staff wish all of the 2022 Scholarship recipients’ success in their future endeavors.” said FRMCU President and CEO, Matthew G. Schondek.

Fall River Municipal Credit Union is federally insured by the National Credit Union Administration, member of the Massachusetts Credit Union Share Insurance Corporation, and is an Equal Housing Lender.