For those of you who missed our Annual Meeting this past Friday, February 22nd, please make a note that "a good time was had by all" - and also make a note to come to next year's meeting!

We had 268 members and visitors to attend. There were 47 winning names drawn for door prizes valued at over $2,000.00. Everyone had a great meal furnished by Double Portion Caterers. On the business side, both Sandee Bingham and Lamar Threat were re-elected to the Board for another three years each.

As soon as they are available, we will have some photos of this year's event. Thank you for making the Annual Meeting a very fine Credit Union success.

In an effort to restore the economy, on January 30th, the Federal Reserve lowered the discount rate from 3.50% to 3.00%. This action follows closely their action taken January 22nd that lowered the rate 0.75%. As a consequence of these changes, the Credit Union has responded by lowering both the deposit and loan rates. These rates are lower than what was published in our last newletter that was mailed the first of January.

The Prime Rate fell to 6.00% as of January 30, 2008. The last time Prime changed to 6.00% was on May 3, 2005. At that time, our deposit rates and our loan rates were very close to what we are now offering February 1, 2008. We will continue to watch rates closely and to adjust them whenever necessary.

Tickets for this year's Annual Membership Meeting are now on sale. The prices are the same as last year's - $5 for member tickets and $15 for non-member tickets.

The location is the same: the First Baptist Church of Chattanooga. We are planning to have good food, fellowship, door prizes in addition to elections. Please make plans now to attend.

The Nominating Committee has officially nominated the following individuals for election to the Credit Union's Board of Directors at the next Credit Union Annual Membership Meeting. They are: Sandee Bingham and Lamar Threat. Both individuals are currently members of the Board and have agreed to serve 3-year terms each if elected.

Please purchase your ticket in advance at either Credit Union office for the meal and eligibility for the door prizes. We look forward to seeing you there.