GREENSBORO, N.C. – This year marks the 25th anniversary for the $1.7 billion First Carolina Corporate Credit Union. The corporate celebrated at its annual meeting held April 22 in Myrtle Beach, S.C. Included in the celebration was a tribute to long-time board member Tom Welch, who last year announced his retirement from the board effective at the end of his term that coincided with the 2005 annual meeting. Welch, CEO of Piedmont Aviation Credit Union, has served First Carolina in a number of volunteer roles over the past 25 years, most notably as a director since 1993 and as 2004 chairman of the Credit Committee. “Tom’s experience and commitment to the credit union community have made First Carolina a much stronger organization,” said Lee Fogle, First Carolina Board Chairman and CEO of Duke University Federal Credit Union. “We will certainly miss his steady leadership.” Also at the annual meeting, elections were held for four board positions: Jim Blaine from State Employees Credit Union, Randall Crawford from WNC Community Credit Union, and Steve Harkins from SC Telco Federal Credit Union were re-elected to three-year terms. Jack Braswell, from Members Credit Union, was elected to serve a one-year term. Officers elected were Chairman Lee Fogle; Vice Chairman James McDaniel, Carolina Trust Federal Credit Union; Secretary Randall Crawford; and Treasurer Anne Shivers, Carolina Collegiate Federal Credit Union. Other board members continuing their current terms include Lucile Beckwith, Palmetto Trust Federal Credit Union; and Bob Bruns, Charlotte Metro Credit Union. In addition, First Carolina’s 2004 annual report was released at the annual meeting, noting net income for the corporate in 2004 totaled $3.2 million, resulting in the growth of its total capital to $124.3 million.

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