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Annual Report

Board of Directors
Board Member Term Expiration
Ms. Reba Allison 2017
Ms. Shirley Bratton 2015
Mr. Eddie Cannon 2015
Mr. Joel Hale 2017
Mr. James Johnson 2017
Dr. Rutledge McClaran 2016
Mr. Bobby Moore 2016
Mrs. Maylene Neal 2016
Dr. Marty Warren 2015


Senior Management
Mr. William Byron Norton President / CEO
Mr. John Griffin Senior VP / Lending Operations Manager
Mr. Scot Haines Senior VP / Operations Manager
Ms. Deborah Pearce Senior VP / Accounting Department Manager
Mr. Gregory Gani VP / Member Business Lending
Mr. Chris Graham VP / Card & Fraud Department Manager
Mrs. Wendi Hodges VP / Staff Attorney
Mr. Greg Jeffery VP / Teller Department Manager
Mr. Flip Kraus VP / Real Estate Manager
Mrs. Sandy Krell VP / Branch Operations Manager
Mr. Doug Martin VP / Indirect Lending Department Manager
Mr. Kevin Wasson VP / Information and Technology
Credit Union Services
Board of Directors' Report

It gives me great pleasure in welcoming you to the 61st annual meeting of East Texas Professional Credit Union. I am truly humbled by the level of trust you have in me and my fellow Board members, and I can assure you, it isn’t taken for granted.

I would also like to thank my fellow Board members for their dedicated service, commitment, and passion. They have contributed greatly to the success of East Texas Professional Credit Union.

As you see in the Annual Report, East Texas Professional Credit Union performed well in 2013.

• As our CEO will note in his address, membership at East Texas Professional Credit Union now stands at 59,001.
• Our members have added more than $4 million to total shareholder’s capital.
• Feeling more confident in your personal financial circumstances, you - the members and owners of this institution - have borrowed more than $96 million in consumer loans, adding more than 12,200 new loans.
• Whether it was your first home or second, I am thrilled that you turned to your credit union for your mortgage needs. In 2013, East Texas Professional Credit Union wrote 338 home loans, worth more than $31.9 million.
• In the downturn economy, many of you held onto your aged vehicles longer, but favorable interest rates and a strengthening economy motivated many of you to trade up. In 2013, East Texas Professional Credit Union’s auto loan portfolio increased more than $12.3 million, constituting an 11 percent growth.
• You’re also staying on top of your debt obligations as the delinquency ratio at East Texas Professional Credit Union is now .54 percent.

Your participation in East Texas Professional Credit Union means we are in a strong financial position to continue meeting your lending needs, offer a wealth of savings tools and other essential financial products and services to enhance your life, improve our delivery channels, and expand our outreach.

Just as there were challenges in 2013, there will undoubtedly be challenges in 2014. But I am confident that by remaining focused, working together and being united, East Texas Professional Credit Union is well poised to address any challenges we might face.

Before I conclude my address, I wanted to talk briefly about what it means to be a financial cooperative. I am often asked how credit unions differ from banks. Obviously, like a bank, we have to make a profit to keep the doors open. But the difference is what we don’t do with those profits. Unlike a bank, we don’t have shareholders. The Board of Directors at East Texas Professional Credit Union is made up of volunteers elected by you, so there are no shareholders to pay.

As a financial cooperative, East Texas Professional Credit Union is guided by seven principles:

1. Voluntary and Open Membership: East Texas Professional Credit Union is a financial cooperative, and cooperatives are voluntary organizations, and are open to all people.

2. Democratic Member Control: East Texas Professional Credit Union is a democratic organization controlled by you - the members and owners. So as I have already noted, the Board of Directors at East Texas Professional Credit Union is comprised of volunteers elected by you. So when we set policies or make decisions about the future direction of East Texas Professional Credit Union, we do so with you in mind.

3. Member’s Economic Participation: As a member of East Texas Professional Credit Union you contribute equally to, and democratically control, the capital of this institution. 

4. Autonomy and Independence: As a financial cooperative, East Texas Professional Credit Union is an autonomous, self-help organization controlled by you - the member. 

5. Education, Training, and Information: We want to ensure that our staff - from the front line to the executive office, as well as the Board of Directors and other volunteers - are knowledgeable and competent to fulfill their commitment to the organization, and more importantly, to you. Therefore, we provide education and training so we can all contribute effectively to the development of East Texas Professional Credit Union. In 2013, staff, management and volunteers at East Texas Professional Credit Union collectively completed many hours of training.

6. Cooperation among Cooperatives: As a financial cooperative, East Texas Professional Credit Union understands that we can most effectively serve you, and strengthen the credit union movement by working together through local, regional, national, and international structures. That is why we are very involved in our local chapter, and take advantage of the training , tools, and resources available through our trade association, the Cornerstone Credit Union League. We are also very supportive of our Cornerstone’s advocacy efforts because we understand the impact legislation, as well as regulations, has on our ability to serve your financial services’ needs. That is why we would like you to contact your elected officials in Washington, D.C., and share with them our message, “Don’t Tax My Credit Union.” As federal legislators consider tax reform in 2014, we want you to know that a federal tax on your credit union is a tax on you. Visit to learn more about this critically important fight. 

7. Concern for Community: While our primary focus is on meeting your needs, as a cooperative, we feel a responsibility to give back to our community. As our CEO will note, we made significant contributions in 2013. In addition to donating to various charities and causes in our community, our staff and volunteers collectively committed many volunteer hours. I take great pride in the fact that I participate in a financial cooperative and I hope you do as well.

As I wrap up my address, it is with confidence that I say, under Mr. Norton’s leadership, the guidance of the Board of Directors, the commitment of a dedicated staff, and the support and loyalty of our 59,001 members, East Texas Professional Credit Union is well positioned to face any challenge and seize any opportunity that presents itself in 2014. 

Thank you ladies and gentlemen, and all the best for the coming year!

President's Report

Good afternoon. Thank you so much for being here. Let me say what a pleasure it is to be here with you. I couldn’t be happier to see so many of our members who are truly vested in the success of our credit union.

As a financial cooperative, our success is your success. When you participate in the credit union, whether you are a saver, borrower, or both, you are contributing to our growth. And because of our cooperative structure, we are able to return our profits back to you – the owners and members of East Texas Professional Credit Union. How are these profits returned to you? We return these profits to you through competitive rates, new products, enhanced services, and additional points of service just to mention a few.

East Texas Professional Credit Union is a locally owned and governed financial institution. We have a strong connection to this vibrant community and we are well positioned to support East Texas’ growing demand for a financial institution that cares about your financial future.

Clearly, our presence in this community was known in 2013. Membership at East Texas Professional Credit Union increased to 59,001. As our membership grew, so did our assets, indicating that you are taking full advantage of the products and services we have to offer. Our assets increased to $526,905,056.

I am pleased to report that during 2013 our loan portfolio grew by 6.8 percent, while delinquencies remained well below peer at .54 percent. This tells me that you value the competitive rates we are able to offer and you have a strong commitment to honor your financial obligations with your credit union.

Just as you are committed to East Texas Professional Credit Union, we are committed to you, and following are but a few highlights from 2013 that demonstrate this:

• Continued enhancement of the infrastructure of our data processing center to support growth
• Virtualized many of our servers
• Updated communications by migrating to an MPLS network
• Replaced the core switch at our data center
• Deployed a new enhanced Firewall System 
• Improved the imaging capabilities of our deposit capable ATMs 
• Purchased land for our new Henderson Branch facility
• Added instant issue debit card printers at Marshall, Nacogdoches, Spring Hill, and Tyler
• Researched and initiated a program to enhance our Mobile Banking platform
• Developed a new HELOC program for our members’ loan needs
• Deployed Lobby Tracking Software in key branch locations to improve efficiencies

It is worth pointing out that we were able to add all of these new products and services without compromising the bottom line. East Texas Professional Credit Union is a well-capitalized financial institution, with a strong capital ratio of 16.01 percent. To put that in perspective, 7 percent is the industry standard for being considered well-capitalized. ETPCU has become one of the strongest credit unions not only in Texas but in the nation, once again earning the Bauer 5-star rating for financial institutions.

Our 2013 results illustrate that East Texas Professional Credit Union is a strong, sustainable, and efficient financial institution. Indeed, we are confident in our ability to meet all of your financial services’ needs. But we are far more than an institution that offers financial products and services. Here are but a few differentiators that make East Texas Professional Credit Union special:

• We have a real presence in this community. In 2013, we:
• Hosted 2 shred days for members to bring in documents containing sensitive information for safe disposal – and at no charge
• Contributed to more than 100 philanthropic organizations and community affairs
• Raised money for the Muscular Dystrophy Association to help send disabled children to summer camp
• Participated in 16 area events
• Delivered financial education seminars to a number of schools
• Assisted Toys for Tots by serving as a collection site for new, unwrapped toys that were distributed as Christmas gifts to disadvantaged children in the community
• Served as the host for March of Dimes’ Financial Day

In addition, our employees paid to wear jeans each Friday throughout the year. That money was used to fulfill the Christmas wish lists of 18 East Texas children, join the fight against cancer through an American Cancer Society donation, and provide assistance to fellow employees in times of need.

• We have a staff of experienced professionals who report to work every single day with one objective - helping you meet your financial goals. I’m proud to say that at East Texas Professional Credit Union we have longevity in employee tenure, and we strive to provide a culture that fosters personal and professional development as we recognize that a happy staff leads to better service to our members. 
• We have a talented volunteer Board of Directors who share their expertise and knowledge to guide this organization toward continued success. In 2013, our Board of Directors completed many hours training. To me, this illustrates their strong desire to ensure they are a highly skilled and educated governing body.
• And, we have a unique business model that empowers every single member to have a voice. One member, one vote.

Our success depends on a strong membership base. I want to thank you again for your trust in East Texas Professional Credit Union.

East Texas Professional Credit Union has a strong foundation and we performed well in 2013, and with steadfast commitment, diligence and hard work, in 2014, we will once again deliver on our promise to you of being the financial institution of choice for our members, providing a wide array of competitively priced and conveniently delivered services, designed to enhance the financial well-being of our members while maintaining the long-term financial stability of the credit union.

My commitment to you this afternoon is that East Texas Professional Credit Union will continue to:
• grow responsibly 
• listen and respond to your needs
• explore innovative product/service solutions to enhance your financial life
• develop our staff and Board so they can confidently serve you

Thank you for your attendance today. I look forward to serving you in 2014.


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Statement of Financial Condition