Remuneration and Loans

Directors are paid an annual retainer and a per diem for attending Board and Committee meetings as well as other eligible meetings, as agreed to by the Board. In 2016, total remuneration to the Board of Directors was $249,000. ACU paid expenses on behalf of Directors amounting to $26,000.

Here is individual Director remuneration for 2016, exclusive of training and development:

Director 2016 Remuneration
Vera Goussaert CHAIR 42,518
Nicole Ritchot VICE CHAIR 27,723
Dennis Anderson DIRECTOR 21,475
Wilbur Coates DIRECTOR 20,505
Kevin Freedman DIRECTOR 25,207
Crystal Laborero DIRECTOR 20,973
Paul Lacap DIRECTOR 22,940
Garry Loewen DIRECTOR 23,730
James Magnus-Johnston DIRECTOR 12,536
Alain Molgat DIRECTOR 23,532
Margaret Day DIRECTOR (retired April 2016) 8,102

As of December 31, 2016, outstanding loans to Directors totaled $797,000,of which $142,000 was at government prescribed rates of interest. Director loans totaled 0.02% of our assets.

Board Training

Every year, the Board approves a training and development program for the Board, individual Directors and for its committees. In 2016, this included: Credit Union Director Achievement (CUDA) training; Large Credit Union Conference; Credit Union Central of Manitoba Conference and Annual General Meeting; Credit Union Central of Manitoba Directors Forum; Canadian Credit Union Leaders Conference; various training courses, luncheons and webinars. In 2016, $20,000 was spent on Board training and development.



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