The Montgomery County Chamber of Commerce reached a milestone at its 2019 annual meeting in December when the organization it paid off its loan from 10 years ago.
The 2019 board chairman Alan Fabian, CEO of LewisGale Hospital – Montgomery, and 2020 board chairman Aaron Harris-Kirby, CEO of Pointe West Management, took the stage together to close out the past and start a new chapter for the organization.
Brad Denardo, President, and CEO of National Bank, and Paul Mylum, Senior Vice President of Lending for National Bank, were called to the stage as well. At that time, current board members and board members from 2010 assembled at the foot of the stage to move the check to the bank officials while 420 chamber members watched.
Fabian said, “We have come a long way in ten years, and the final payment of this loan symbolizes the work of board members, chamber members and the business community. We were shaken but we never gave up, and that speaks to the resilience of this community. We have been frugal in spending, and we have hired staff that cares about the members and maximizing their trust.”
Harris said, “Our staff since 2010 has been instrumental in serving our members and doing their due diligence in saving money where possible. Some have turned down salary increases and implemented other cost-saving measures. Our members have been so very supportive of us during those challenging times. I am proud to be a part of this defining moment.”
Shane Adams, former executive director of the Chamber (from 2003-2009), was charged with mismanagement of funds and embezzlement in 2009 and later found guilty of three charges. Montgomery County stepped in at that time and moved the tourism program and all revenues to its oversight. The chamber was left unable to make payroll due to the culmination of all the events in December of 2009. The board of directors then applied for and received a $75,000 line of credit from National Bank to keep the chamber afloat. Over the last 9 years, 11 months, the full amount plus interest was repaid, the bulk of the credit line being repaid in the last five years.
The Montgomery County Chamber of Commerce serves Blacksburg, Christiansburg, and all of Montgomery County and supports approximately 650 local businesses through business advocacy, education, marketing and networking opportunities. The local organization is not affiliated with the US Chamber of Commerce. For more information on membership and on the chamber’s activities and programs, visit the chamber website at
www.montgomerycc.org, Facebook page, or call The Montgomery County Chamber of Commerce at 540.382.3020.