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Annual Report

Board of Directors
Board Member Term Expiration
Ms. Reba Allison 2017
Mr. Eddie Cannon 2018
Mrs. Shirley Downs 2018
Mr. Joel Hale 2017
Mr. James Johnson 2017
Dr. Rutledge McClaran 2019
Mr. Bobby Moore 2019
Mrs. Maylene Neal 2019
Dr. Marty Warren 2018


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. 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 is with great pleasure and pride that I welcome you to the 63rd Annual Meeting of East Texas Professional Credit Union. I am humbled by the trust you've placed in me and my fellow board members. In fact, I'd like to take this opportunity to thank my fellow board members for their dedicated service, commitment, and passion. Our success is due in large part because of their efforts.

As you can see in the Annual Report, East Texas Professional Credit Union performed well in 2015.

As our CEO will note in his address, membership at East Texas Professional Credit Union stands at 62,762 members, representing an increase of 3.5 percent over the prior year.

  • In total, our 62,762 members have added more than $12.6 million to their savings accounts.  

  • You, the members and owners of this institution, have borrowed   more than $154.2 million, adding more than 13,252 new loans, which represents optimism in our economy and trust in your credit union.

  • I'm delighted that so many of you are turning to your credit union for your mortgage needs. In 2015, East Texas Professional Credit Union wrote nearly 515 home loans worth more than $52.6 million.

  • Favorable interest rates and a strengthening economy motivated many of you to buy new vehicles. In 2015, East Texas Professional Credit Union wrote 3,319 auto loans worth more than $62.8 million.

  • I'm thrilled to say the median delinquency ratio is now .49%. This tells me our members are working hard to stay on top of their debt obligations, and that they are able to do so is more evidence of a recovering economy.

Your ongoing acceptance and use of the products and services offered by East Texas Professional Credit Union means that we will remain in a strong financial position that allows us to continue meeting your financial needs.

As not-for-profit cooperatives, credit unions are different than banks. This isn't news to our valued members who recognize and appreciate how truly different we are. Though we have to make a profit to keep the doors open, we don't work for shareholders demanding to collect their profits. When we can, we like to distribute our profits back to you, the owners of East Texas Professional Credit Union.

By exercising sound business and service strategies, we can help you navigate your life-cycle challenges and weather uncertain economic periods like the recent Great Recession. Since credit unions were not the cause of that recession, it's nice to see that our movement remains extremely healthy—this, despite the onerous regulatory burdens placed on credit unions as a result of the detrimental practices of Wall Street and the banking industry.

We are excited about the bright future that lies ahead of us. It's a future we can all share in, and one that encourages our highest potential and ensures our best purpose in serving you, our members.

For instance...

  • We want to target particular segments of our community where we can make the greatest impact. Helping with financial literacy and the account management for our members who are most vulnerable, such as pre-high school children, young adults, retirees, and our elderly is one way we can do that;

  • We want to offer more and better resources that ensure our members are using the safest, most secure, and most convenient technology available;

  • We want to grow our community impact through basic interest payouts, financial capability programs, payment deferral during community emergencies, and working with members facing the challenges of whatever life phase they might be in;

  • We want to be a knowledge hub that places the credit union at the center of our members' financial lives, allowing them to trade peer advice and insights about budgeting, buying, retiring, and saving; and

  • We want to help you responsibly finance life activities, such as education, small businesses, and transportation. As a financial cooperative, we understand that we can most effectively serve you and strengthen the credit union movement by working through local, regional, national, and even international organizations. We are very involved in our local chapter of credit unions, for instance, which allows us to benefit from the training, tools, and resources available through our trade association, the Cornerstone Credit Union League.

  • We understand the impact of legislation on our ability to serve your financial needs, so we are very supportive of Cornerstone's advocacy efforts on a state level and Credit Union National Association's endeavors on a national level.

Unfortunately, tax reform is not yet off the table, and as federal legislators consider tax reform in 2016, we want to reiterate that a federal tax on your credit union is equivalent to a tax on you. Make no mistake; we are up against a massive banking lobby that's doing its best to convince our lawmakers that the credit union tax exemption puts them at an unfair disadvantage. Because of that, credit unions will need to remain vigilant in their advocacy efforts.

My friends, with the continued success of East Texas Professional Credit Union, we can offer beneficial savings and wealth-building tools and other financial products and services that enhance your life, improve our delivery channels, and expand our community outreach.

In closing, I'd like to express my confidence in the leadership of Byron Norton, the wisdom and guidance of our esteemed board of directors, the commitment of our dedicated staff, and the support and loyalty of 62,762 members. We are extremely optimistic about the future because East Texas Professional Credit Union is well positioned to face any challenge and seize any opportunity that presents itself in 2016.

Thank you ladies and gentlemen. I wish you the very best for the coming year!

President's Report

Good afternoon and welcome. On behalf of the management and staff of East Texas Professional Credit Union, let me say how happy I am to be here at the 63rd annual meeting of East Texas Professional Credit Union.  As it was then and remains to this day, our unique business model that empowers every single member to have a voice - and that's "one member, one vote."

And in that spirit, I'd like to express my earnest thanks to each and every member. When you participate in your credit union, you are contributing to its growth, and that's why this credit union continues to thrive year after year. In return, because of our cooperative structure, we're able to return our profits back to you, the owners and members, by offering competitive rates, new products, enhanced services, and additional points of service.

Now, it is my privilege to provide a "State of Our Credit Union" address at this 2016 annual meeting.

Let me begin by saying that 2015 was a significant year, not just for our credit union but also for our state and the nation. In addition to the headline-grabbing election cycle we're in, the credit union movement weathered another round of banker attacks, and not just on our credit union tax exemption. Cybersecurity became an even higher-profile matter in 2015, along with hot-button regulatory issues such as risk-based capital and onerous regulatory burdens. All of those critical issues demanded we allocate time and resources to advocating with our lawmakers on behalf of credit unions.

As our membership grows, so do our assets, which is the barometer of how well our members are receiving the products and services this credit union has to offer. Our current assets are more than $569 million. Membership at East Texas Professional Credit Union increased 3.5 percent in 2015 and now stands at 62,762.

Outstanding loan balances increased 15.4 percent from 2015 to 2016, while delinquencies remained low at .49 percent. This tells me that you value the competitive rates we are able to offer and that you have a strong commitment to honoring your financial obligations with your credit union.

Just as you are committed to East Texas Professional Credit Union, we are committed to you. The following are a few of the highlights from 2015 that demonstrate our dedication to providing products and services that benefit you and your families:

  • Developed new lending programs, such as the First Time Auto        Buyers Program and the Student Micro Loan Program

  • Purchased land for new office facilities in Hallsville and Carthage

  • Developed an ATM Select Network to alleviate foreign transaction fees for members at select ATMs throughout East Texas

  • Continued enhancements to the Mobile Banking platform by adding desired features such as Apple Pay and Mobile Deposit

I'm thrilled to point out that East Texas Professional Credit Union is a well-capitalized financial institution, with a strong net worth ratio of 18.3 percent. To put that in perspective, a net worth position above seven percent is considered well capitalized by our regulators.

Our 2015 results illustrate that East Texas Professional Credit Union is a strong, sustainable, and efficient financial institution, but we are also an integral part of the community. That's important to us, and that makes us significantly different from other financial institutions. Our commitment to and presence in the community can be seen in some of the activities we've taken part in during 2015. To name a few, in 2015, we:

  • Awarded 15 college scholarships totaling $18,000

  • Delivered more than 28,000 academic planner calendars to more than 100 area schools and daycares

  • Hosted 2 shred days for members to bring in documents containing sensitive information for safe disposal – and at no charge

  • Launched 9 new products or services and conducted 8 system upgrades

  • Raised money for the Muscular Dystrophy Association to help send disabled children to summer camp

  • Organized and hosted Reality 101, a financial reality fair designed to simulate the types of financial decisions young people will make as adults through hands-on experience

  • 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

  • Contributed to more than 100 philanthropic organizations and community affairs

  • Participated in more than 30 area events

  • Assisted with the collection of 50 blankets that were donated to the Women’s Center of East Texas on behalf of the East Texas Chapter of Credit Unions

  • Hosted a flu shot clinic as a service to our members

Our very talented team of professionals report to work every day with one objective: to help our members meet their financial goals. Our accomplishments would not have been possible without their steadfast commitment and unified efforts. Their passion inspires me, and I thank them for their loyalty and commitment to providing great service.

 We also have a highly capable volunteer board of directors that shares an enormous amount of time, knowledge, and expertise in guiding this organization. There's no doubt about their desire to ensure they remain a highly skilled and educated governing body. In 2015, our board of directors completed a total of 359 training hours.

As we grow, we will keep our focus on doing what’s right. Locally, we will continue to provide better services and more convenience for our members. We will seek to help more people in our community get on solid ground through financial education and our charitable activities. Nationally and on the state level, we will remain vigilant in making sure our elected officials know that a tax on credit unions is a tax on all of our members; and we must be sure they understand the credit union difference.

Through it all, we will continue to focus on people first. It’s what makes our credit union different, and what makes us strong.

As we embark on the year ahead, my commitment to you today is that East Texas Professional Credit Union will continue to:

  • Grow responsibly, while listening and responding to your needs;

  • Explore innovative product and service solutions to enhance your financial life; and

  • Develop our staff and board so they can confidently and wisely serve you.

Many thanks for being an integral part of our credit union family. On behalf of the entire staff, we look forward to a happy and successful 2016.

Credit Union Bylaws
Statistical Information
Statement of Income
Statement of Financial Condition