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Annual Report

Board of Directors
Board Member Term Expiration
Ms. Reba Allison 2014
Ms. Shirley Bratton 2015
Mr. Eddie Cannon 2015
Mr. Joel Hale 2014
Mr. James Johnson 2014
Dr. Rutledge McClaran 2016
Mr. Bobby Moore 2016
Mrs. Maylene Neal 2016


Senior Management
Mr. William Byron Norton President / CEO
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. John Griffin VP / Consumer Lending Department Manager
Mr. Doug Martin VP / Indirect Lending Department Manager
Mr. Kevin Wasson VP / Information and Technology
Mr. Flip Kraus VP / Real Estate Manager
Mrs. Sherry McAlister VP / Compliance Officer
Mrs. Sandy Krell VP / Branch Operations Manager
Mrs. Wendi Hodges VP / Staff Attorney / Compliance


Credit Union Services
Board of Directors' Report

Good afternoon and welcome to the 60th Annual Meeting of the East Texas Professional Credit Union. As Chairman of East Texas Professional Credit Union Board of Directors, it is my honor and privilege to offer a report from your Board.

Serving on this Board of Directors is a rewarding experience. (Though not in the financial sense, of course!)

As you may know, your Board of Directors is completely voluntary. Each of us is a Credit Union member – just like all of you – who has been given the opportunity by you to take “active participation” to the next level.

We do this because we care about East Texas Professional Credit Union. We have our savings here. We have loans here. We have friends who are like a family here. We have a vested interest in making sure OUR financial institution operates smoothly, adheres to high ethical and fiduciary standards, and stays true to the “people helping people” philosophy that is at the core of the credit union movement.

“People helping people” is what we are all about. Your Credit Union’s staff and directors collaborate regularly to plan, implement and measure the success of products and services to meet your needs.

But the collaboration does not stop at our doors. We are also actively engaged with other credit unions across Texas and the nation to exchange information, share best practices, and collaborate on legislative and regulatory strategies to protect our credit union’s ability to succeed.

Operating a credit union is not the same as it was 20 or even 10 or, for that matter, even 5 years ago. The way people have traditionally interacted with their financial institutions has changed dramatically, given the remarkable technological advances and the non-stop pace and demands for convenience in today’s society. “People helping people” collaboration among credit unions is essential to ensure that we can provide you what you need, products and services such as:
• savings accounts
• checking accounts
• loans
• CDs
• retirement accounts
• youth accounts
• financial planning
• auto, home, health, and life insurance

And collaboration is essential when it comes to the training and professional development of the staff. I’d like to take a moment to recognize and thank the great staff that takes such good care of us. If you are part of the East Texas Professional Credit Union management team and staff, will you please stand? Thank you for your service!

Collaboration is also key when it comes to credit unions and government.

Given the mountain of new regulations in the wake of the big bank meltdown a few years ago, collaboration within the credit union movement has been essential to ensuring our Credit Union staff is trained and equipped to be in compliance.

And collaboration is critical to the ongoing protection of the credit union difference and our not-for-profit tax status at the state and federal levels. You won’t be surprised to learn that big bankers again have credit unions in their sights, according to an article earlier this spring. Their lobbyists are walking the halls of Congress, seeking to make credit unions more like banks. It takes collaboration and engagement among all credit unions and their members to stave off those well-funded efforts by the bankers.

In Austin, the Texas Legislature is in the midst of its biennial regular session. While they’re only in session until the beginning of the summer, Texas credit unions are collaborating with the Texas Credit Union League to ensure that state lawmakers understand our mission and role in the financial well-being of society.

When people understand the mission and purpose of credit unions, they respect it. As members and owners of East Texas Professional Credit Union, each and every one of us has a responsibility to help create that understanding – among our friends and family, our colleagues, our neighbors and our elected officials. We must be part of the collaborative effort to protect and preserve our ability to belong to not-for-profit credit unions.

The fact that you are here speaks volumes. On behalf of your Board of Directors, management team and staff, thank you for being here for this Annual Meeting of East Texas Professional Credit Union.

We look forward to another successful year ahead for us all! Thank you for your interest and support.

President's Report

Good afternoon. My name is Byron Norton, and I am honored to serve as President / CEO of East Texas Professional Credit Union. On behalf of the Board of Directors and our entire staff, thank you for attending the 2013 Annual Meeting of East Texas Professional Credit Union and in doing so helping us celebrate our sixtieth anniversary. Your trust and active participation are the driving forces behind our ability to provide essential benefits, both to you, our members, and our great community.

Active participation is the key. It’s not always easy to do, is it? Between our busy lives, families and finances, it is sometimes tempting to stay on the sidelines rather than jump into the action! But all of you managed to resist that temptation and make it here to be engaged in your credit union and to celebrate the cooperative movement with us – and for that we are thankful.

Back toward the end of 2011, thousands of people across the nation, who for years had been mere bystanders in their own financial destiny, woke up to the realization that they deserved better. It took the mistakes and failures of several large banks to stir that awakening, as big banks began to make it clear to their customers that they intended to make a profit at the customers’ expense.

But that’s not the credit union way. As not-for-profit cooperatives, we are owned by our members – regular people like you and me – and exist to serve our members. As the owners of your credit union, you see first-hand the credit union difference in how our earnings are shared – through better loan rates, lower fees and higher interest on deposits.

People have begun to take notice of the “Credit Union” difference.

Starting with Bank Transfer Day, tens of thousands of dissatisfied bank customers abandoned their banks and joined credit unions – a trend that has been pretty remarkable for the cooperative movement.

The timing was pretty remarkable too, with 2012 having been declared by the United Nations as the “Year of Cooperatives.” Throughout 2012, credit unions around our community, state and nation collaborated and cooperated in an effort to educate our communities, embrace new members and help them build their financial futures.

As a result, the number of people “catching on” to the credit union difference has soared over the past year.

To put things into perspective – between third quarter 2011 and third quarter 2012, credit unions across Texas experienced impressive growth, including:
• The percentage of credit unions with increasing assets grew from 73.8 percent to 78.9 percent.
• A sign of growing consumer confidence, loan growth increased 7.1 percent in Q3 2012, compared to a 2.8 percent growth rate in Q3 2011. Credit unions remain strong in new (7.9 percent growth Q3 2012) and used (10 percent growth Q3 2012) auto lending. However, a growing number of consumers are now turning to credit unions for their first mortgage. In Q3 2011, Texas credit unions experienced a 6.4 percent increase in first mortgages. By Q3 2012, it more than doubled - 13.7 percent.  
• While consumers were borrowing more in 2012, they continued their strong savings habits.  Total savings in Texas credit unions increased 5.7 percent in Q3 2012.
• Membership in Texas credit unions jumped from 7.7 million to 7.956 million.

Like other credit unions across the country, I can proudly say that East Texas Professional Credit Union’s successes in 2012 reflect those of the national growth averages.
• In 2012, our assets grew by $31,061,424 (6%);
• Our loans grew by $3,328,552 (1.5%);
• Savings increased by $20,078,754 (4.8%);
• And we’ve seen our membership growth increase to 57,828 members

Of course, none of this would have been possible without your continued trust in us. In 2012, we focused a lot of our energy on providing you with the best quality of service, such as:
• New Remote Deposit capable ATMs
• New credit rebuilder loan products
• Expanding our points of service with improvements to our card processing, mobile banking, and website.

I’d like to take a moment to thank the remarkable staff of East Texas Professional Credit Union. They have put time, brain power, energy and heart into making 2012 another successful year for our credit union.

East Texas Professional Credit Union exceeded expectations in 2012, and we enter 2013 with even greater expectations.  This year we have plans to begin construction on two new branches in Gilmer and Henderson.  In addition, we have scheduled enhancements to our core processing software to improve our efficiencies during the new account process and to enhance member identification at the front line.

As East Texas Professional Credit Union continues to grow, we will not forget what powers us.


We ask for your continued active participation, and in return, you can be sure you will see personal service, exceptional financial education efforts, and an unwavering commitment to you, our members, throughout the year.

Thank you for being a member of our credit union family. And thank you, again, for your participation here. On behalf of our entire staff, we wish you a happy and prosperous 2013!


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