MCCU Annual Report - page 102

MANCHESTER CO-OPERATIVE CREDIT UNION
ANNUAL REPORT 2013
102
Loan Administration
Technology was used to enhance the loan administration process and ensure that the overall
processing time was further reduced. The Credit Union will continue to monitor this area to
ensure we continue to provide efficient service in an effective manner.
WAIVERS
The following waivers were granted for eleven (11) loans during 2013:
Credit Committee Members Attendance for 2013
The Credit Committee and Sub-Credit Committee held Twenty (20) and Fifteen (15) meetings
respectively during the year under review and the attendance of the members are listed below:
Reason forWaiver
Extend Loan Term
Dollar
Value ($)
25,391,601.84
5,909,902.94
7,850,000.00
Number of
Loans
9
1
1
Increase % of cash surrender
value of insurance policy
Reduce Share Requirement
TOTAL
39,151,504.78
11
Credit Committee
Mr. Churton Douglas
1
0
19
3
0
17
2
0
0
0
10
8
2
0
18
4
1
0
0
8
7
20
Possible
Meetings Attended Excused Absent
20
12
8
20
12
8
Mrs. Lilieth Sutherland
Mrs. Vivinne Grant
Mr. Harris Senior
Mr. George Sloley
Mrs. Thelma Vassall
Mrs. Doreen Daley-Grant
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