2020 Year-In-Review
Board Members:
1. Patti Flaker – President
2. Kathe Breitenfeldt – Vice President
3. Julia Salzman – Secretary
4. Ryan Kennedy – Treasurer
5. Hal Osborn – Director
Total Donated: $258,873
Top 10 Donations:
1. Mid-State Technical College $35,000
2. NTC Foundation $30,000
3. Junior Achievement Central WI (Wausau and Merrill) $17,700
4. Wausau School District $17,500
5. Lincoln High School $10,000
Worldwide Foundation of CU's $10,000
Blessings in a Backpack $10,000
Stevens Point Area Schools $10,000
DC Everest Public Schools $10,000
Aspirus Health Foundation $10,000
Notes:
At the annual meeting, Patti Flaker was voted in as President, and Kathe as Vice President. Kathe was also elected to serve on the Board for an additional 5 year term while Julia was elected as Secretary for 2 years.
Connexus Association maintained its current structure of laddering certificates of deposits at several financial institutions to reduce risk as the majority of deposits are thus insured by NCUA or FDIC.
As interest rates on deposit accounts
plummeted during 2020, the Board voted to move 3 of our Certificates to an
online bank, Live Oak Bank, to take advantage of slightly higher interest
rates. The new 12 month certificates
were opened in March ($100k at 2.15%), September ($100k at .60%), and December
($50k at .65%). A portion of the funds ($108k total) from the closed
Certificates were routed to our existing money market account providing the
Association with greater liquidity if needed.
Draft financials for 2020 depict that the
Association ended 2020 with assets (cash) totaling $775,207. This represents a
decrease of $95,547 over the previous year-end.
