If construction continues at its current pace, the Weyburn Credit Union could open the doors to its new building as early as July 1, six weeks ahead of schedule.

Ninety-one credit union members and several guests listened as the board and CEO reported a successful past year at the annual meeting held last Wednesday at the Legion Hall.

CEO Allan Messer described the new building and how it will be used by staff and members, and spoke about the Lang-Weyburn Credit Union amalgamation and integration, and the new services offered.

The Credit Union plans to get the most out of its $3.2 million expansion. The new building will eventually be annexed to the current location at 221 Coteau Avenue to assist in the flow of work and business between the sites.

The basement in the new building will include a large vault and storage to house files and documents for the last 55 years, as well as the various equipment rooms required. Thirteen underground parking stalls will be rented by management and staff.

The main floor houses the wealth management service centre, commercial service centres for lending and depositing and a community room to be used by community organizations. The main floor will also feature MemberCARE financial services.

The second floor contains the head office which includes offices for executive management, business relations manager offices, finance, human resources, technology, and Teleservice. Extra space will be available for expansion, some of which will be used for coffee rooms, conference rooms, and more.

"When we moved into our facility at 221 Coteau 20 years ago, we had approximately 25 staff and now we have approximately 55 staff," said Messer. "We are hopeful that if the community and business continues to act as it has in the past, we should have facilities to meet our needs for today and upwards to the next 15 to 20 years, without any major additions."

Once the move to the new location is completed, the main floor of the existing facility will be renovated with an annex between the buildings, to establish some offices for supervisors and managers, to provide a business area for opening of accounts and sell services, and a greeter station. The renovation is expected to take two to three months.

The expansion of facilities and services means more jobs, said Messer. He estimates between seven and eight new positions will be available in the initial year of operation.

The Credit Union will be open between Monday and Friday at the new facility and between Tuesday and Saturday at the existing one.

The Lang and Weyburn amalgamation has resulted in the standardization of services and computerized systems between the two locations, Messer told meeting attendees. The Lang operation of approximately 500 members, brought in around $6 million in assets and $5 million in loans to the entire operation.

Lending, deposits, and wealth management services will be the focus of the Weyburn Credit Union this year, and members will be encouraged to use electronic services.

Board member Dick Michel reported on the audited financial reports for 1999. The Credit Union generated a gross profit of $1.56 million in 1999, prior to rebates and bonuses. Memberships now total 9,509, and accounts number 34,821. The equity position of Weyburn Credit Union is $160,749,184, with the biggest improvement of the year being a $10 million increase in deposits and a 12 per cent increase in loans.

Vice-president Eliford Mott reported the results of the nominating committee. The terms of board members Madeleine Moser and Lloyd Soroka expired this year. Both individuals let their names stand for re-election. No nominations were received from the floor, so the two members were re-elected for another term by acclamation.

Mel Eggum, retired teacher and school administrator, was honored for 25 years of service to the Credit Union and presented with a token of appreciation for his dedication.

The meeting concluded with questions from the membership, most of which involved the range of services available.