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 2019, total remuneration to the board of directors was $261,000. ACU paid expenses on behalf of directors amounting to $26,000.
Here is individual director remuneration for 2019, exclusive of training and development:
|Crystal Laborero CHAIR||36,334|
|Alain Molgat VICE CHAIR||30,734|
|Dennis Anderson DIRECTOR||25,192|
|Kevin Freedman DIRECTOR||25,617|
|Marina James DIRECTOR||21,804|
|Paul Lacap DIRECTOR||27,553|
|Anne Lindsey DIRECTOR||23,592|
|Marlene Lock DIRECTOR||16,704|
|James Magnus-Johnston DIRECTOR||22,692|
|Priti Mehta-Shah DIRECTOR||17,663|
|Wilbur Coates DIRECTOR (retired April 2019)||7,192|
|Garry Loewen DIRECTOR (retired April 2019)||6,242|
As of December 31, 2019, outstanding loans to Directors totaled $454,000, of which $55,000 was at government prescribed rates of interest. Director loans totaled 0.01% of our assets
Every year, the board approves a training and development program for the board, individual directors and board committees. In 2019, 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; and various training courses, luncheons and webinars. In 2019, $23,000 was spent on board training and development.