55th Annual Meeting
March 17, 2010

I.     Meeting Called to Order
The meeting was called to order by Chairman Catharine Santella at 10:30 a.m. on March 17, 2010 in the Hollander Auditorium, Bridgeport Hospital.

II.   Appointment of Recording Secretary
Dominic Palumbo was appointed Recording Secretary and announced that a quorum was present.

III. Board Members Present
Catharine Santella, LuAnne Raynor, Evelyn Tkacs Cimmino, Maria Alicea and Susan Garrison.

IV.  Business Meeting
Minutes of the March 18, 2009 meeting were distributed. Motion was made to approve minutes and was seconded. Motion was approved by the membership.

Catharine Santella addressed the membership and thanked them for their support. She noted the Credit Union had a difficult year in 2009, but stressed the institution maintains a very strong capital position.  She then introduced Dominic Palumbo to review the financial statements and to summarize the year 2009.

Financials and a cover letter were presented for the year 2009.  Dominic thanked the membership and the staff for their support and the hospital for its sponsorship.  Dominic reviewed the cover letter and explained corporate losses.  He noted the Credit Union's effort to reduce expenses without impacting member services.  He assured membership that their shares were federally insured.  He reviewed current economic climate and current market interest rates.  He noted how current rate structure will have a negative impact for 2010.  He anticipates a loss for 2010.

Dominic introduced Catharine Santella to present the slate of directors for two-year terms. Motion was made and seconded. The proposed slate of LuAnne Raynor, Evelyn Tkacs Cimmino, Maria Alicea and Susan Garrison was elected.

Prizes were awarded and refreshments served.
There being no further business, the meeting was adjourned at 11:15 a.m.

Respectfully Submitted,
Dominic Palumbo
Recording Secretary

Year End 2010 Review