June 3, 2025
EAU CLAIRE, Wis. – Royal Credit Union (Royal) held its 61st Annual Meeting on Tuesday, April 29, at Royal’s Corporate Center. Three board members were re-elected to three-year terms— Stuart Schaefer, Doug Olson, and Jennifer McDonough.
- Schaefer has served on Royal Credit Union’s Board of Directors since 2010. He currently serves on the Compensation/Governance Committee and Credit Oversight Committee.
- Olson has served on Royal’s Board of Directors since 1995. He currently serves as Chairperson of the Enterprise Risk Management Committee and serves on the Credit Oversight Committee and Nominating Committee.
- McDonough has served on Royal Credit Union’s Board of Directors since 1997. She currently serves on the Political Action Committee and the Audit Committee.
At the Reorganization Meeting, Tom Huffcutt was elected Chairman; Stuart Schaefer was elected Vice Chairman; Bill Blackburn was elected Treasurer; and Jennifer McDonough was elected Secretary. John Sackett, Nancy Beltz, and Doug Olson serve as Directors.
In his Chairperson’s report, Huffcutt stated that 2024 marked the 60th Anniversary for Royal Credit Union, and he recognized that Royal’s six decades of success would not have been possible without the ongoing support of Royal’s Members and the commitment and dedication of its team members. He emphasized that Royal continues to be guided by its core purpose of creating a positive impact in the lives we touch. Huffcutt shared he is proud of the value Royal brings to its Members and communities and highlighted that the board prioritizes ensuring that Royal remains a financially safe and sound institution. A key indicator of financial health that the Board reviews is Royal’s net worth ratio. Royal ended 2024 with a net worth ratio of 9.82%, which significantly exceeds the net worth benchmark of 7% set by the National Credit Union Administration to qualify as a well-capitalized credit union. Huffcutt shared Royal’s accomplishments over the past year, and below are a few highlights:
- Royal provided 13,600 hours of free financial counseling benefiting over 15,000 Members.
- Royal team members facilitated 325 financial literacy lessons and reached 8,400 students.
- Royal’s School $ense in-school credit unions hired over 300 student team members who processed 16,500 transactions during the school year.
- Royal opened nearly 25,000 new certificate accounts and over 8,000 new checking accounts.
- Royal booked more than 45,000 new loans as we helped Members purchase homes, secure reliable vehicles, and reach their business goals.
- In 2024, the RCU Foundation contributed $1.3 million to local communities, bringing the Foundations total commitment since it began in 2012 to over $10 million.
Royal is proud to have served its Members and created a positive impact during 2024.
About Royal Credit Union
Royal Credit Union is a federally insured credit union proudly serving over 3000,000 Members in Minnesota and Wisconsin. Royal is driven by a core ideology built on a strong purpose and values. You can open an account or apply for a low-rate loan at Royal Credit Union if you live or work in 26 counties in western Wisconsin or 16 counties in Minnesota. Counties served in Wisconsin include Adams, Ashland, Bayfield, Barron, Buffalo, Burnett, Chippewa, Clark, Douglas, Dunn, Eau Claire, Jackson, Lincoln, Marathon, Pepin, Pierce, Polk, Portage, Price, Rusk, Sawyer, St. Croix, Taylor, Trempealeau, Washburn, and Wood. Counties served in Minnesota include Anoka, Carver, Chisago, Dakota, Goodhue, Hennepin, Isanti, Olmsted, Pine, Ramsey, Scott, Sherburne, Wabasha, Washington, Winona and Wright. A complete list of Member eligibility requirements is available on the Royal Credit Union website. To learn more about Royal, visit rcu.org or call 800-341-9911.
