2026 CENTURY FEDERAL CREDIT UNION CANDIDATE FOR NOMINEE FOR BOARD OF DIRECTORS
The role of the Board of Directors is centered around providing leadership, setting strategy, introducing programs, creating policies, establishing an annual budget, ensuring the financial health of the organization, establishing and declaring dividend and interest rates, complying with the Federal Credit Union Act and applicable regulations, and meeting fiduciary responsibilities to ensure that the financial needs and expectations of the credit union membership are being addressed and met.
The duty of the board of directors is to meet the needs of the membership of the credit union. No individual board member has the authority to speak on behalf of the board, to direct or instruct the activities of credit union (unless doing so in accordance with our bylaws or written policies). A director must act with the care that a prudent person would exercise in a similar position, putting the interests of the credit union first and strictly upholding the policies and regulations relating to the operation of the credit union.
The standard term for an elected Board member is three years. This comes with a commitment to attend monthly Board meetings, the annual planning retreat and to serve on various board committees. The Board meets on the fourth Monday of each month to review the financial performance of the credit union, vote on various policies and approve a list of new members.
As a candidate for the nomination to the Century Federal Credit Union Board of Directors, you need to be a current member in good standing, and you should be at least 18 years old. A resume and a short biography addressed to the Nominating Committee are required. This short biography should highlight your experience and your motivation to serve on the Board and should be submitted prior to the closing of the standard nomination process: December 10, 2025.
All candidate correspondence should be addressed to:
The Nominating Committee
Century Federal Credit Union
4600 Rockside Road
Independence, OH 44131
Ph: 216-535-3137; or
Via email: aciaravino@cenfedcu.org
In the application for nomination letter, you must provide a statement declaring that if elected you agree to serve your term. The Nominating Committee will inform you by e-mail if you are nominated to run for the Board in the up-coming election. 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 15, 2026, for the petition to be valid.
CFCU Bd of Directors Nomination-Petition 2026
The 2026 Nominees for Board of Directors
Mr. Ahonen
Mr. Ahonen was a Lead Internal Auditor, Professor, Contract Management and warranted Contracting Officer with the Defense Contract Management Agency (DCMA) HQ. He formerly served as an IRS Agent, and Auditor at the US Department of Labor. He holds a BBA in Accounting, minoring in Computer Science. He did post-graduate studies at Baldwin Wallace College in Systems Management and at the Defense Acquisition University in Contract Management. Mr. Ahonen is Vice Chairman/Director of Century Federal Credit Union, and has served as Chairman of the Supervisory Committee, and Chairman, Board of Trustees, CU Center West and CU Center Central. He advocates the credit union philosophy “not for profit, not for charity, but for service” and has contributed to growth in the Credit Union from $12 million to $478 million in assets. If re-elected, Mr. Ahonen will continue to ensure leading edge credit union services and products are effectively and efficiently delivered.
Mrs. Rose
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 Oicer, 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 members’ issues. She services or has served on the following committees: Loan Policy, Human Resources, Nominating, Risk and Supervisory.
Tim Edmunds, CPA
Mr. Edmunds is currently a member of Century Federal Credit Union's Board of Directors. He has served in board officer positions as Board Chairman and Treasurer. He serves or has served on the following board committees: Budget and Finance, Products and Policy, Loan Policy, Investment Policy, Strategic Planning, Nominating, Risk Management, 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.
When is the Century Federal Annual Meeting?
Saturday March 21, 2026 at 9:30am
Where is the Century Federal Annual Meeting held?
TBD
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 is the Century Federal Annual Meeting held and who's eligible?
Annual Meetings are held to share the state of the Credit Union each year, as well as vote on any pertinent changes and announce election results. 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.