Agenda April 16, 2013 - Liberty Online

Report from the Chairperson & the President
77 th Annual Meeting 2012
Coastal Community And Teachers Credit Union
(CCATCU)’s growth in 2012 continues to be double
digit. Asset growth exceeded $32 million or 15.17%
for the year with total assets surpassing $244 million
by year end. The net income for 2012 was $3,186,580
which builds equity in our institution. CCATCU’s
capital exceeded $25 million at year end.
2012 HISTORICALLY
The loan portfolio during 2012 grew 24.49% and
exceeded $184 million at year end. The vast majority
of growth is attributed to used car loans. The deposit
portfolio grew 14.86% which equated to $28,030,789 in
growth during 2012. Due to the loan growth, CCATCU
investments decreased throughout 2012 compared
to 2011. Investment rates remain low with Fed Funds
being .17% at year end. Dividends paid back to our
members exceeded 13% of our revenue or $1.9 million
for 2012.
The Credit Union Department of the State of Texas
provides standard bylaws for credit union board of
directors to adopt. In the 4th quarter of 2012, CCATCU
Board of Directors adopted the standard bylaws.
The standard bylaws adopted provided for some
changes to the annual meeting procedures, changed
the eligible age of a director and eliminated staff
from being eligible to be a board of director.
Your credit union completed both a credit and
debit card conversion during 2012. Many months of
exploration prior to conversion took place in order
to provide a conversion with minimal interruptions.
CCATCU’s credit card program is now processed
by a third party which will allow a multitude of
enhancements including 24/7 phone assistance and
photo cards.
Additional products were introduced in 2012, Real
Savers and Real Checking. The Real Checking
product mirrors the Bonus Checking as far as cycle
qualifications including ATM refunds and interest
paid. When qualifications are met and interest is
paid and ATM fees are refunded, these amounts
are automatically transferred to the Real Savers
account. The Real Savers (formerly the Holiday Club
Account) allows members to build up savings and
limits the ability to withdraw to two times a year.
Your credit union now has four checking accounts
that fit your financial needs. Our Bonus Checking
product continues to grow in deposits now reaching
$15 million and paying an annual percentage yield of
3.82%, if cycle qualifications are met.
INTO THE FUTURE 2013
Your credit union strives to maintain competitive
rates and products and will continue into 2013 with
the same goals in mind. Interest rates on deposit
accounts remain low, not only in our community but
across the nation. Loan rates continue to remain
low with annual percentage yields on autos being as
low as 3.50%. Your rate on your CCATCU Visa credit
card may be as low as 6.99% annual percentage rate.
The rate structures offered by your credit union are
just one way we support the accountholder of our
institution.
Efficiency and safety in regards to technology is a
focus of CCATCU. Technology requires continual
research into safety, business continuity, being
competitive and offering user friendly applications.
Whether upgrades are required internal for staff,
in order to maintain great member service, or
external for members to utilize, it requires constant
attention. Your board of directors, management
and staff are aware of the safety and confidentiality
necessary in order to maintain your accounts in a
secure environment.
Our Board of Directors is the governing body of
CCATCU. They set policy and make prudent overall
business decisions for your credit union. The welltrained
staff provides great service to our members.
The combination of these two allows you, the
member, to take advantage of all the great products
and services we have to offer. In closing, without our
MEMBERS, we would not be the fine institution we
are today. It takes a combination of all of us working
together to provide the best financial alternative in
the future. We hope you will spread the word; it is
YOUR CREDIT UNION, USE IT OFTEN.