New Pathway – Ukrainian News.
In its 74th year, Ukrainian Credit Union Limited surpassed many of its previous records. At the AGM on April 17, UCU’s members learned that the Credit Union achieved the highest net profit in its history ($3.5 million in 2017) and that its assets surpassed $800 million. UCU once again showed its commitment to “Building Community”, in particular by announcing the donation of $100,000 for the Holodomor Memorial Project in Toronto. These funds will go towards building of one of the millstones that are part of the Memorial, located at the entrance to Toronto’s Exhibition Place, and symbolize the tragedy of the Ukrainian farmers starved to death by the Soviet regime in the genocidal Holodomor of 1932-33.
Last year was quite favorable for credit unions in Ontario. Increasing interest rates and growing economy supported UCU’s lending activity and raised its financial margins, while higher revenues from wealth management, credit card and creditor insurance sales, as well as operating expense discipline strengthened the Credit Union’s overall financial strength. UCU maintained it its priority to remain on top of evolving technologies to continue providing competitive products for its members. In 2017, it upgraded its Mobile App, introduced Interac online payments and debit card tap, and improved performance of its ATMs.
Ever since the beginning of the Russian Federation’s aggression in Ukraine, UCU’s membership has voted to donate dividends on membership shares to reputable Canadian or international organizations that support Ukraine’s fight for independence and democracy. This year, in addition to this funding, UCU announced that it contributed to the memorial, opened in France to mark the 100th anniversary of the Battle of Hill 70. The Credit Union was a key sponsor of the portion of the Memorial known as Philip Konowal VC Walk, named for the man who became the only Ukrainian Canadian to receive Victoria Cross, the then British Empire’s highest military honour.
Last year, UCU played a prominent role in supporting the Canada Ukraine Parliamentary student internship program, particularly the Day on the Hill organized by this year’s grouping of university students from Ukraine as part of their 10-week placement with Canadian members of Parliament. The objective is that through their parliamentary immersion experience in Canada, that these future leaders of Ukraine gain insight and experience that will serve them in building democracy and civil society in their homeland.
Among the major charitable causes pursued by the UCU personnel is the “UCU Helps Ukraine” initiative which gathers member and community donations for disabled veterans of Ukraine’s war with the Russian aggressors. “UCU Helps Ukraine” has to date collected more than $200,000 for the veterans, which are undergoing treatment in the Lviv Military Hospital, as well as for the widows, orphans and families of Ukrainian soldiers who did not return from the front in the Donbas.
The shareholders at the AGM approved by acclamation five UCU Directors for positions which were up for re-election: Slawko Borys, Bob Diakow, Borden Osmak, Jerry Pryshlak and Taras Rohatyn. Later, at the Board of Directors meeting, Slawko Borys was elected Chair of the UCU Board of Directors, after Andre Sochaniwsky stepped down from the position in line with the Credit Union’s by-law which limits the Chair’s term by five years. Mr. Sochaniwsky’s term as UCU’s Chair of the Board was marked by continuing growth and several milestones achieved in the Credit Union’s development.
“I have been very honoured to lead this organization as it approaches the end of its third quarter century in business,” said Mr. Sochaniwsky. “The credit union is in good hands under Slawko [Borys]. He’ll do a great job leading us through our cooperative’s 75th anniversary celebrations, and has the vision and drive to continue building upon a very solid foundation.”
Mr. Borys has served as a UCU Director for five years. His background is in senior management in the aviation industry – he currently works as a Director, Safety Security & Regulatory Affairs at Air Canada Rouge. Apart from his position on the UCU Board, he is widely known in the Ukrainian Canadian community as a former President and Treasurer of the Ukrainian National Federation of Canada Toronto branch. Mr. Borys is also Head of the Board of the New Pathway – Ukrainian News.
“We are very lucky to have community leaders such as Andre Sochaniwsky who are willing to put in the incredible amount of time that it takes to serve on a board like UCU’s ,” said Mr. Borys. “Andre’s dedication to the organization, his keen understanding of strategy and the need to stay focused on the needs of our members have had a really positive impact. We are very pleased that he will continue to serve on our board, and I’m glad he’ll be there so that I can tap his experience in my new role.”
At the AGM, the head of UCU’s Scholarship Committee, Taras Rohatyn, announced this year’s recipients of various UCU scholarships. This year, UCU Community Leadership Awards were awarded to: Melanie Gegar (Rodak) (Laurentian University, Forensic Science), Olha Hnatyshyn (Concordia University, Economics Environmental Studies), Nadia Lashchuk (University of Ontario Institute of Technology, PhD Materials Science) and Martin Lebed (Wilfred Laurier University, Bachelor of Business Administration). Violetta Skrypnyk (York University, Art History) received Board Chair’s Scholarship, while Luke Daschko (Carleton University, Bachelor of Computer Sciences) got the Eugene Roman Scholarship.
The newly established New Pathway Fellowship went to Daniel Bartchouk (Queen’s University, English, Film Studies). Daniel has already received the Visual Arts Award from St. Joachim School and his photography has featured in Hamilton Spectator, he has been active as a volunteer at the St. Vladimir Church in Kingston and at the Kingston Film Festival. Under the Fellowship, he will produce a minimum of one article per month (12 articles in total) for the New Pathway – Ukrainian News. We look forward to working with Daniel Bartchouk on materials covering the Ukrainian Canadian community.
The New Pathway – Ukrainian News is grateful to Ukrainian Credit Union Limited for the initiative to establish the Fellowship, as well as for the donation of $10,000 which was presented before the AGM.
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