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 2017, total remuneration to the Board of Directors was $269,000. ACU paid expenses on behalf of Directors amounting to $50,000.

Here is individual Director remuneration for 2017, exclusive of training and development:

Director 2017 Remuneration
Alain Molgat CHAIR 37,390
Kevin Freedman VICE CHAIR 27,499
Dennis Anderson DIRECTOR 21,392
Wilbur Coates DIRECTOR 26,704
Crystal Laborero DIRECTOR 22,749
Paul Lacap DIRECTOR 29,722
Anne Lindsey DIRECTOR 15,175
Garry Loewen DIRECTOR 26,117
James Magnus-Johnston DIRECTOR 19,999
Nicole Ritchot DIRECTOR 24,856
Vera Goussaert DIRECTOR (retired April 2017) 16,126

As of December 31, 2017, outstanding loans to Directors totaled $616,000, of which $124,000 was at government prescribed rates of interest. Director loans totaled 0.01% 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 2017, 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 2017, $37,000 was spent on Board training and development.


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