Somerville’s Credit Union Holds Annual Meeting & Board Elections
Somerville’s Credit Union held its Annual Meeting of Members on April 2, 2026, bringing together our member-owners to review another strong year and hold elections.
Board Election Results
Members voted to re-elect three incumbent directors to new three-year terms:
- Stephen Burgess, President & Chairman
- Michael Santangelo, Director
- John L. Sullivan, Director
They continue alongside the full Board of Directors:
- Robert McWatters, Vice Chairman
- Joan Shute, Secretary
- Donetta Burgess, Treasurer
- Lance Covert, Director
- Gerald Reardon, Director
- Warren Pepicelli, Director
A Record Year for Members
In their joint annual report, President & Chairman Stephen Burgess and CEO Roland J. Draper III shared highlights from a strong 2025. The credit union closed the year with record net income, with assets just under $51M, and a capital ratio of 17.85% (well above the peer average of 13.6%). Loan demand, especially auto loans and mortgages, decreased slightly from 2024 ($746K or 2.9%), perhaps reflecting an ongoing higher rate environment. The return-on-assets ratio of 1.23% (compared to the peer average of 0.78%) reflects net income of nearly $620K, and the credit union’s delinquency ratio of just 0.36% remained far below the peer average of 0.96%. These results earned Somerville’s Credit Union another prestigious 5-Star BauerFinancial Rating, the highest level of recognition a financial institution can get and that means we are a superior financial institution.
In 2025, the credit union continued to invest in member services, including the rollout of an AI-powered Knowledge Assistant platform to help staff answer member questions faster and more accurately, and a new digital estate planning service to help members protect their families’ futures.
“Our staff, Board of Directors, and Supervisory Committee members are honored to serve our membership,” the joint report noted. Members are encouraged to spread the word – friends, family, co-workers, and neighbors are welcome to join and share in the credit union’s strength, growth and member benefits.
