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 2020, total remuneration to the Board of Directors was $251,000. ACU paid expenses on behalf of Directors amounting to $10,000.
Here is individual Director remuneration for 2020, exclusive of training and development:
|Crystal Laborero CHAIR||43,197|
|Paul Lacap VICE CHAIR||22,097|
|Kevin Freedman DIRECTOR||23,305|
|Marina James DIRECTOR||21,732|
|Anne Lindsey DIRECTOR||25,597|
|Marlene Lock DIRECTOR||20,357|
|James Magnus-Johnston DIRECTOR||22,455|
|Priti Mehta-Shah DIRECTOR||25,197|
|Alain Molgat DIRECTOR||24,388|
|Glenn Williams DIRECTOR||10,415|
|Dennis Anderson DIRECTOR (retired June 2020)||12,283|
As of December 31, 2020, outstanding loans to Directors totaled $335,000, of which $40,000 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 2020, this included: mandatory Credit Union Director Achievement (CUDA) training; Credit Union Central of Manitoba Annual General Meeting; Credit Union Central of Manitoba Directors Forum; various training courses and webinars. In 2020, $9,000 was spent on Board training and development.