Catalyst News

Annual Meeting: ‘2022 A Year of Growth,’ ‘Promising Start to 2023’

by Catalyst Corporate | May 02, 2023

At Catalyst Corporate’s 12th Annual Meeting of the Members this morning, Chairman of the Board Lin Hodges cited collaboration as a reason for the growth experienced by the organization over the past year.

“Your trust in us proved to be the foundation for another successful year at Catalyst Corporate,” he stated.

“Despite economic uncertainty, committed volunteers, staff and management collaborated to achieve positive financial results, develop innovative products and services and support the goals of our member credit unions,” Hodges said. “Together, we were able to find new ways of helping credit unions respond to member demand and navigate the unknown through cutting-edge solutions and strategic investment planning.”

During the meeting, Catalyst Corporate President/CEO Bruce Fox recognized 2022 as a year of strong membership growth. “Catalyst had 21 new credit unions capitalize our organization, bringing total membership to 1,311 at year end,” Fox said. The demand for liquidity also reached new heights in 2022, and Catalyst Corporate was there to assist with loans and lines of credit. Total loans outstanding at year end was $841 million – a 300% increase over 2021.

Fox announced several 2023 initiatives, as well, including Catalyst Corporate’s expanding faster payments infrastructure and its continuous commitment to the release of innovative new services, such as CU LoanPay and Moli.

Catalyst Corporate’s membership re-elected four individuals to fill three-year terms on Catalyst Corporate’s volunteer Board of Directors. They are: Gail Enda, President/CEO of American Airlines FCU in Fort Worth, Texas; Greg Harden, President/CEO of Arizona Central CU in Phoenix, Arizona; Yvonne Kershner, President/CEO of Brazos Valley Schools CU in Katy, Texas; and Trevor Tokishi, President/CEO of Valley Isle Community FCU in Kahului, Hawaii.

Other members of the board are: Lin Hodges, President/CEO at Associated CU in Norcross, Georgia; Connie Cofer, SVP Finance/CFO of Communication FCU in Oklahoma City, Oklahoma; Richard Hein, President/CEO of Oregon State CU in Corvallis, Oregon; Michael Hooper, President/CEO of La Capitol FCU in Baton Rouge, Louisiana; Steven Devan, President/CEO of East County Schools FCU in San Diego; Syed Dinar, EVP/CFO at Texas Bay CU in Houston, Texas; and Jon Hernandez, President/CEO of CalCom FCU in Long Beach, California.

If you missed the Annual Meeting, the on-demand presentation is available, along with Catalyst Corporate’s 2022 Annual Report and related materials, under About Us /Due Diligence/Annual Meeting Materials.