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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 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:

Director 2019 remuneration
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

Board training

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.

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