Annual Meeting
Join Us for our Annual Meeting of Members!
Tuesday, April 7, 2015
Meeting will begin at 5:00 p.m.
Edison Branch - Boardroom
135 Raritan Center Parkway
Edison, NJ 08837
Seating is limited
Light Refreshments will be served
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A great big Thank You to all of the Pinnacle Federal Credit Union team members and Board of
 | | Stephen J. Lardiere, President/CEO |
Directors for their support throughout our recent organizational changes. While 2014 presented us with some challenges, 2015 is primed to be a year in which we see significant changes in our operations.
Our primary focus in 2015 is geared towards earning income through loan originations. Pinnacle has continued to enjoy a 95% Loan-to-Share ratio in 2014. This means that for every $1 we take in, we put $0.95 out in loans. That does not give us much of a margin to work with, but with sound management and attention to recognizing where we can reduce expenses, we managed to maintain this high Loan-to-Share ratio. For comparison, credit unions of our relative size have a Loan-to-Share ratio of about 66.5%.
Our loan focus in 2015 is on first and second mortgages and new and used car loans. In anticipation of increased loan volume, we added staff to our mortgage department in order to provide our members with the exceptional service quality they have come to expect from Pinnacle. If you are thinking about a new mortgage, or refinancing an existing mortgage, please contact us and we will be happy to make it as pleasant an experience as possible. We embarked on a new first mortgage program that could save you as much as $1,500 in mortgage loan related costs, so be sure to check us out before you go anywhere else. Learn more about our first mortgages here.
New and Used Auto Loans are important to us. We've recently developed a new relationship with a national company that will allow us some additional latitude in expanding our auto loans portfolio. We recognize that some of our members have struggled obtaining credit over the last few years, so we looked for a partner who could support our efforts in producing more auto loans across a wide spectrum of borrowers. Spend a few minutes with one of our expert loan interviewers to find out if you qualify for an auto loan. Learn more about our auto loans here.
Reverse mortgages are here! Pinnacle has been certified by FHA to be an approved lender of reverse mortgages. If you are interested or curious about a reverse mortgage, please contact our mortgage department for more details and information.
Robust Mobile Banking with integrated Bill Pay and Remote Deposit Capture will be available in 2015. Soon, you will be able to make deposits by taking a picture of your check and emailing it to us. More details to follow in the Spring 2015 newsletter. To enroll in our Online Banking click here. To download our Mobile App, click on your store below.
Thank you to all of our members for their support, without which we would not be able to continue to grow and provide new and improved financial services. I wish all of you a very prosperous and healthy new year.
Sincerely,
Stephen J. Lardiere
President/CEO
Pinnacle Federal Credit Union
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The election of officials for Pinnacle Federal Credit Union will be held at the 53rd Annual Meeting. This meeting is scheduled to be held in the Boardroom of our Edison Branch located at 135 Raritan Center Parkway. The meeting will begin promptly at 5:00 p.m. Light refreshments will be served.
Nominations are made by the Nominating Committee and may also be made by petition. There will be no ballots or nominations from the floor. In the event that there is only one nominee for each position, the nominees will be considered elected by general acclamation and this will be declared by the Credit Union's Secretary of the Board of Directors. Any petition proposed for nomination must be signed by a minimum of one percent (1%) of the membership (minimum 204) with a maximum of five hundred (500) and received by the Board Secretary no later than February 15, 2015 at the following address:
Pinnacle Federal Credit Union
Attention: Board Secretary
135 Raritan Center Parkway
Edison, NJ 08837
A signed certificate must accompany the petition from the petitioner stating that he/she will accept the nomination and will serve if elected. Each petitioner shall submit a statement of qualifications and biographical data with their petition. To obtain a Petition Certification Form, please contact Steve Lardiere, President and CEO, at 732-225-1505 ext. 239 or email at [email protected].
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The Nominating Committee of the Board of Directors has received requests from the following individuals to serve on the Board:
Paul Camella
Mr. Camella has been nominated for a three (3) year term from April 2015 to April 2018. Paul Camella has served on the Board of Directors for Pinnacle FCU since 2000 and was appointed as Board Chairman of Pinnacle FCU in 2011. He is an active participant in the credit union and is involved in real estate investments and development. Peter Carpena  Mr. Carpena has been nominated for a three (3) year term from April 2015 to April 2018. Peter has been an advocate of New Jersey Credit Unions for over forty (40) years and a member of Pinnacle's Board of Directors for many years. Peter is the former owner of Forrest Construction Group, LLC and Storemaster, Incorporated. He worked as Director, Store Planner and Merchandising for Pathmark Stores and as President of LeTip of Metuchen/Edison. He is currently the owner & partner of CU Realty Consultants, d/b/a Highroads Realty and is licensed in real estate, life insurance, health insurance (including disability and long term care.) R. Michael Gould 
Mr. Gould has been nominated for a three (3) year term from April 2015 to April 2018. R. Michael is the co-owner of Certified Protection. He has served as a member of Pinnacle's Board of Directors since 2007. He previously served as Chairman of the Supervisory Committee and Secretary of the Board of Directors. Nancy Ostin  Ms. Ostin has been nominated for a three (3) year term from April 2015 to April 2018. Nancy began serving on Pinnacle Federal Credit Union's Supervisory Committee in 1999 and was elected to the Board of Directors in 2003. Nancy has served on various boards of nonprofit organizations in Middlesex County and held the position of President of the Middlesex County Regional Chamber of Commerce. Ms. Ostin is a CAE, Certified Association Executive with more than 30 years of experience in non-profit and association management. Ms. Ostin is currently the Director of IEEE-Eta Kappa Nu, the honor society of IEEE, world's largest engineering society.
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Wednesday, February 25, 2015 at 4:30 p.m.
Edison Board Room | 135 Raritan Center Parkway
This notice is to advise all credit union members that there will be a special meeting held at 4:30 p.m. at Pinnacle's Edison Branch located at 135 Raritan Center Parkway on Wednesday, February 25, 2015. The purpose of this meeting is to vote to expel members who caused Pinnacle Federal Credit Union a loss. This loss could be in the form of presenting a bad check, defaulting on a loan, overdrawing an account, or other situations. To comply with National Credit Union Administration regulations, this is the only business that will be conducted at this meeting. To ensure adequate accommodations, please contact Steve Lardiere at 732.225.1505 ext. 239 or email [email protected] if you are interested in attending this meeting.
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Visit us online at pinnaclefcu.com135 Raritan Center Parkway| Edison, NJ 08837 |
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