Thomas Gryp

Thomas Gryp

A Written Message from the Candidate

Dear Fellow Owners,

I am writing you today to respectfully ask for your vote for reelection to the Board of Directors for CU*Answers.

Since joining the Board in 2016, I have taken my fiduciary responsibilities very seriously. In helping guide the strategic direction of our incredible cooperative, I have consistently attempted to look at things with fresh eyes, to ask uncomfortable questions and to challenge the status quo.

Here is an example. I am a very strong and vocal advocate that we must constantly evaluate our cooperative’s resources to ensure the assets at our disposal are being optimally utilized. For many years our cooperative has been holding a significant amount of cash and short-term investments. Today, that amount totals about $30 million. Of course, some of these funds are required for regular working capital needs. However, I believe a significant portion of these funds could be better deployed in other ways.

For example, could some of these dollars be invested in additional resources like programming and quality control to speed up the rate at which projects in the queue are worked on? Or, what about additional resources to expedite new product development to keep us competitive in the marketplace and retain current clients? Lastly, if no better alternative for these dollars can be identified, why not return some of these funds to you via a special dividend or some other similar mechanism.

It is discussions like these that I pledge to continue initiating to ensure we not only maximize long term shareholder value but also continue to bring to the market products that are relevant and competitive for credit unions of all sizes.

I want to be very clear. CU*Answers continues to be a well-run organization, with a passionate leader and an extremely committed group of executives, managers and staff. Our cooperative is healthy, robust and positioned for a very strong and successful future. I am very proud of this team, my fellow board members and the contributions I have made while serving on the Board. Nevertheless, it is still incumbent upon our cooperative’s Board of Directors to fulfill our fiduciary duties to represent your interests by asking strategic questions and seeking meaningful discussions.

I am incredibly grateful for the trust you have granted me to serve on our Board. If allowed to return, I promise to continue my advocacy to be worthy of your trust and to do whatever I can to keep CU*Answers moving forward.

Thomas J Gryp

Letter of Intent
Message from Candidate