Annual Meetings

We held our 89th annual meeting on Thursday, March 28, 2024, at our Main Branch and virtually on Zoom. The graphic below is a statement of our overall financial health. TAPCO remains financially strong, with reserves totaling over $58 million.

At our recent Annual Meeting, we explored the numerous ways in which TAPCO contributes to the community of Pierce County. Our initiatives, encompassing partnerships, donations, and sponsorships, have resulted in an impressive contribution exceeding $98,000. TAPCO proudly stands as a beacon of leadership in Tacoma and Pierce County, ensuring our presence resonates wherever our members are located.

The meeting was also an occasion to pay tribute to two revered former TAPCO Board Members, Jeanne Wener-Spaulding and Richard J. Williams. In their honor, our scholarship program bestowed $2,500 scholarships upon nine deserving individuals, aiding them in their pursuit of degrees or vocational certifications. The recipients, together with their families, were recognized at the meeting, where they received certificates amid congratulatory applause.

Justin Martin, TAPCO's CEO, took the opportunity to reflect on the achievements of 2023 and to share insights into the future, emphasizing our ongoing commitment to Diversity, Equity, Inclusion, Belonging, and Accessibility (DEIBA), advancements in technology (highlighting new online and mobile banking services), and enhancing member value. This, according to Justin, is integral to making TAPCO the premier financial institution in Pierce County. He also shared the exciting news of TAPCO being honored with the Best in State Credit Union award by a leading national business publication, as well as receiving the Community Development Financial Institution (CDFI) designation from the US Department of the Treasury. This designation paves the way for TAPCO to secure grants that will further empower us to support our members and the community.

Looking ahead, TAPCO is set to expand in Pierce County with the scheduled opening of a new full-service branch in Frederickson in 2025, marking another milestone in our journey of growth and community service.

BOARD ELECTION RESULTS

There were three open Board of Directors positions and three incumbent applicants. The nominating committee confirmed all applicants. The nominated candidates included Gene Miller, Louis Cooper, Jr., and Lindsey Wade. As a result of the uncontested election, all candidates were declared elected by general consent.

There were two positions open on the Supervisory Committee and two incumbent candidates for the positions – John Sinclair and John O'Loughlin. Both Supervisory Committee applicants were confirmed by the Nominating Committee. As a result of the uncontested election, all candidates were declared elected by general consent.

We held our annual meeting on Thursday, March 16, 2023. The graphic below is a statement of our overall financial health. TAPCO remains financially strong with reserves totaling over $53 million.

During the Annual Meeting, we discussed the ways TAPCO gave back to the community through partnerships, donations, and the TAPCO Shirt Shop, investing over $63,000. TAPCO continues to be a leader in Pierce County by being present where our members are.  We introduced this year's nine scholarship winners. Each will receive a $2,500 scholarship toward their degree or vocational certificate. 2023 Meeting Minutes were adopted.  TAPCO's CEO, Justin Martin, reviewed 2023 and discussed what to look forward to in 2024 with our continued focus on DEIBA, technology (including new online and mobile banking), and adding value for our members while making TAPCO the best place to work in Pierce County. TAPCO continues its growth throughout Pierce County, opening its newest branch in Gig Harbor in February 2022. 

BOARD ELECTION RESULTS

There were three positions open on the Board of Directors and three incumbent applicants for the positions. All Board of Director applicants were confirmed by the Nominating Committee. The nominated candidates included Clara Nelson, Alex Wilsie, and Rob Masko. As a result of the uncontested election, all candidates were declared elected by general consent.

There were two positions open on the Supervisory Committee and two incumbent candidates for the positions – Brent Bomkamp and Connie Vaughn. Both Supervisory Committee applicants were confirmed by the Nominating Committee. As a result of the uncontested election, all candidates were declared elected by general consent.

We held our annual meeting on Thursday, March 24, 2022. The graphic below is a statement of our overall financial health. TAPCO remains financially strong with reserves totaling over $47 million.

During the Annual Meeting, we discussed the creative ways TAPCO gave back to the community while still navigating the effects of Covid-19. TAPCO invested over $57,000 through community groups and partnerships. We introduced this year's five scholarship winners. Each will receive a $2,500 scholarship towards their degree or vocational certificate.  TAPCO's new CEO, Justin Martin, was introduced to members. He reviewed 2021 and discussed our focus on creating additional value for our members, community, and employees.  TAPCO continued its growth throughout Pierce County, opening its newest branch in Gig Harbor in February 2022. 

BOARD ELECTION RESULTS

There were three positions open on the Board of Directors and three incumbent applicants for the positions. All Board of Director applicants were confirmed by the Nominating Committee. The nominated candidates included Clara Nelson, Alex Wilsie and Rob Masko. As a result of the uncontested election all candidates were declared elected by general consent.

There were two positions open on the Supervisory Committee and two incumbent candidates for the positions – Brent Bomkamp and Connie Vaughn. Both Supervisory Committee applicants were confirmed by the Nominating Committee. As a result of the uncontested election all candidates were declared elected by general consent.

We held our annual meeting on Thursday, March 25, 2021. The graphic below is a statement of our overall financial health. TAPCO remains financially strong with reserves totaling over $44 million.

During the Annual Meeting, elections were held for three board seats and one seat on the Supervisory Committee. There were three positions open on the Board of Directors and four applicants for these positions in this year’s election. All Board of Director applicants were confirmed by the Nominating Committee. An external CPA company administered the ballot count and delivered the election results.

There was one applicant unopposed for the position open on the Supervisory Committee. The applicant was confirmed by the Nominating Committee and declared elected by acclamation.

2020 brought on new challenges in the wake of the COVID-19 pandemic, but TAPCO worked quickly to support members through the process with emergency loans and free skip pays. Along with the credit union's 12 Certified Financial Counselors, the credit union partnered with GreenPath Financial Wellness, a 3rd party Financial Counseling vendor for members who  have a need for more robust counseling than TAPCO offers and many of their services are provided to members for free.  

TAPCO continues to extended branch services to members in Pierce County. The credit union opened the Frederickson Branch in June of 2020 with the Bonney Lake Branch following January of 2021. In addition, the credit union donated more than $40,000 to support the community.

We held our first virtual annual meeting on Thursday, March 26, 2020. The graphic below is a statement of our overall financial health. TAPCO remains financially strong with reserves totaling over $41 million.

 

During the Annual Meeting, elections were held for three board seats and one seat on the Supervisory Committee. There were three positions open on the Board of Directors and three applicants unopposed for these positions in this year’s election. All Board of Director applicants were confirmed by the Nominating Committee. The nominated Board of Director candidates were declared elected by acclamation. The elected candidates for the Board of Director positions are: Bruce Baurichter, John Cole, and Pat McElligott.

There was one applicant unopposed for the position open on the Supervisory Committee. The applicant was confirmed by the Nominating Committee and declared elected by acclamation. The elected candidate for the Supervisory Committee position is Gene Miller.

2019 was a great year and we’re excited about what TAPCO has planned for 2020 – we are focused on the continued growth of the credit union, outreach and support of our community, and increasing depth of member relationships.