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Annual Meeting

Every year, Century Federal Credit Union hosts an Annual Meeting to review the prior year's financial statement and discuss all the new things happening with the Credit Union. The meeting includes dinner and a gift for each member in attendance, and raffle prizes are given out as well. There may be a Board Member election for three Board Member seats, as three positions become available each year. If there is only one person nominated for each open seat, the election does not take place.

Please note that if you missed the deadline for the standard nomination process, you can still be nominated by petition. A petition must be signed by 25 or more CFCU members (in good standing), clearly providing the name, the signature and the SEG affiliation of the petitioner. The petition must be received by the Credit Union by the cutoff date of January 20, 2020, for the petition to be valid. For more information, please review this document.

Learn more about our 2020 incumbent nominees for the Board of Directors

When is the Century Federal Annual Meeting?

The 2020 Annual Meeting will be held on Thursday, March 26, 2020. 

Where will the 2020 Century Federal Annual Meeting be held?

Dino’s at Acacia Reservation – Cleveland Metroparks 
26899 Cedar Road
Beachwood, Ohio  44122

Doors will open at 4:00 p.m.
Dinner served 5:00 – 6:30 p.m.
Meeting begins at 6:00 p.m.

Who can attend the Century Federal Annual Meeting?

All Century Federal Credit Union members are eligible to attend the meeting. This includes spouses and children. 

Why does the Century Federal Annual Meeting take place and who is eligible?

Annual Meetings are held to share the state of the Credit Union each year, as well as vote on any pertinent changes, or conduct Board elections. Every member age 16 and over, who has $5 in their share account (which is the requirement for membership) is eligible to vote. Every member who is 18 and over is eligible to become a Board Member or hold other volunteer Board positions with Century Federal Credit Union. 

Century Federal Credit Union employees and their family members are not eligible to become Board Members or sit on any committee.

The 2020 Nominees for Board of Directors

This year three board member positions are up for re-election. The three incumbents are currently running, unopposed. 

Bill Ahonen (Incumbent)

Mr. Ahonen retired from the Defense Contract Management Agency headquarters (DCMA) and is experienced in Contract Management and Cost Price Analysis. He served as an Auditor for the Department of Labor and as an Internal Revenue Agent for IRS. He is a US Air Force veteran. He holds a BBA in Accounting, minor in Computer Science, with post-graduate studies at Baldwin Wallace College in Systems Management. Mr. Ahonen has volunteered with Century Federal Credit Union, serving as Vice Chairman and Secretary of the Board; a member of the Budget & Finance, Governance, and Infrastructure Committees; and has served as Chairman, Supervisory Committee. He is an advocate of the credit union philosophy and mission. He abides by, “not for profit, not for charity, but for service.” Mr. Ahonen continues to be a sounding board and voice for the membership, ensuring that changing technology is utilized and member services are effective. 


Tim Edmunds, CPA (Incumbent)

Mr. Edmunds is currently a member of Century Federal Credit Union's Board of Directors. He has served in board office positions as Board Chairman and Treasurer. He serves or has served on the following board committees: Budget and Finance, Products and Policy, Loan, Investment, Strategic Planning, Nominating, and Supervisory. Mr. Edmunds is a CPA and an attorney. He has a JD from Cleveland State University and an MBA from Michigan State. Additionally, Mr. Edmunds has been a member of the Committee on Accounting Standards of the National Association of Federal Credit Unions. Mr. Edmunds was formerly employed as an attorney in the Cleveland HUD Office of Counsel. Subject to regulatory agency restrictions, Mr. Edmunds advocates: 1) maximum feasible return to the members for savings, 2) competitive interest rates on loans, and 3) products and services that meet members' needs.

Rose Lorenz (Incumbent) 

Mrs. Rose Lorenz has over 34 years of working experience with Century Federal Credit Union. Mrs. Lorenz was first employed as a Member Service Representative in 1970 posting transactions and performing daily balances and ledgers. During her career with Century Federal Credit Union, Mrs. Lorenz has gained significant work experience and knowledge through twenty years as a Loan Officer, four years as a Branch Manager, and as a Vice President of Branch Operations for five years. Mrs. Lorenz has an extensive working knowledge of the credit union's compliance and security requirements, as well as branch operations, lending products and service procedures. Throughout her 34 years with Century Federal Credit Union, Mrs. Lorenz has remained focused on serving its members and demonstrated leadership in setting high standards for courtesy, reliability, and efficiency in dealing with member's issues. She serves or has served on the following committees: Loan Policy, Human Resources, Nominating, and Supervisory. 

Annual Meeting Archives:

2019 Annual Meeting Recap
2018 Annual Meeting Recap
2017 Annual Meeting Recap 
2016 Annual Meeting recap