2015 annual meeting - tba credit union · 2015 annual meeting agenda. eric dreier call the meeting...
TRANSCRIPT
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2015 Annual MeetingApril 19, 2016
Our Mission StatementTo serve the community and build trusted
relationships.
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2015 Annual Meeting Agenda
Eric Dreier Call the Meeting to OrderSteve Merten Roll Call of the BoardSteve Merten Minutes of Last Year’s MeetingEric Dreier The Report of the DirectorsEric Dreier Bylaw Changes ReportKaren Browne Treasurers ReportPeg Klein Credit Committee ReportEric Dreier The Report of Outside AuditorsEric Dreier Unfinished and New BusinessNominating Committee Election ReportEric Dreier Adjournment
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Eric DreierChairperson
Call the Meeting to Order
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Steve Merten, SecretaryRoll Call of the Board
Minutes of Last Year’s Meeting
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Eric Dreier, ChairpersonReport of the Board of
Directors
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2015 Accomplishments
5 Star Bauer Rating
17 Consecutive Years!
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2015 Accomplishments Physical Growth
Leased Front St 2nd floor space to Berkshire Hathaway Home Services
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2015 Accomplishments Physical Growth
Opened Member Service Center
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2015 Accomplishments Physical Growth
Started 2015/2016 School year with 18 SRCU’s
BlairCentral GradeCherry KnollCourtadeEast Middle SchoolEasternForest Area Middle SchoolGrand Traverse AcademyImmaculate Conception
InterlochenInternational School at Bertha VosLong LakeOld MissionTCAPS MontessoriTraverse HeightsWest Middle SchoolWestwoodsWillow Hill
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2015 Accomplishments Physical Growth
Installed Additional Safe Deposit Boxes
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New Products & Services
FREE Checking Risked Priced VISA
Credit Cards Chip Enable VISA Credit
Cards Board Secure Website SBA Loans
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Information Technology Hardware Update Cycling Data Loss Prevention Full Internal System Monitoring
Refined Secure Email Capability Enabled Addition of TBA Career Tech
Center Intern to the IT Department as Work Experience
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Community Involvement Michael's Place Junior Achievement Michigan Blood Big Brothers/Big Sisters of
Northern Michigan Northwestern Michigan College Area School Districts and Sport
Booster Clubs Adopt A Highway March of Dimes Children’s Advocacy Center Arthritis Walk National Cherry Festival Safe Harbor Father Fred Foundation
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Rotary MCUL Legislative Challenge 4H TART Trails Habitat for Humanity American Legion GT Hockey Association Meals on Wheels TACS Sailing Program Kiwanis Woman’s Resource Center State Theatre Disability Network United Way Crooked Tree Arts Center Darcy Library
Salvation Army Interlochen Center for the Arts TC Chamber of Commerce Great Lakes Children's Museum
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Participation in Other Events Ideas for Life Senior Expo MARVAC RV & Camper Show Oryana Membership Days Pavilions Benefits Fair NMC Benefits Fair NMC Barbeque TC Chamber Business Expo HBA Home Expo Money Smart Week International Credit Union Day TCAPS Welcome Back Breakfast
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Sponsorships/Donations• GT Women Business Luncheons• Junior Achievement Youth Summit• Michaels Place Night at the Movies• BIGS Bowl for Kid’s Sake• Outstanding Educator Awards• Outstanding Person in Education Awards• TAAR Golf Outing• Jim Ooley Golf Outing• March of Dimes Chef’s Auction• TC Children Book Festival• SCORE Workshop Series• TC Bike Film Fest• Forest Area Sports Boosters
• NMC Scholarship Open• TBAISD Career Tech Golf Outing• TC West Senior High Sports Boosters• Optimist Club• Norte Youth Cycling• Benzie County Central Schools• Goodwill Industry• Blessing in a Backpack
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Scholarships & Grants
• Classroom Improvement Grants• GTBA MEA Scholarship• GTARSP Scholarship• TBACU Scholarship fund for NMC Students
I am writing to extend my sincere thanks for your TBA Credit Union Scholarship of $1,000 toNorthwestern Michigan College. I am deeply grateful to have been selected as a recipient of yourgenerous contributions to the community and higher education.
-Richard Vegh, NMC Scholarship Recipient
“
”
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60th Year Celebration
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Member Education and Events• Budgeting 101 at NMC• Youth Financial Literacy
• Story Hour and book giveaway at Old Mission and TC Area District Library
• Financial GEO-Caching Event at NMC• Financial Literacy Legislature Challenge
• Financial Budgeting Workshop for the Disability Network Job Summit
Free Events Hosted at TBACU• ID Theft Seminar
• Social Security Seminar• Wills & Trust Seminar
• E-Services Seminar• Woman, Money and Power Seminar
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Policy Updates and Revisions Investment Policy Employee Handbook BSA & OFAC Policy ALM & IRR Policy Liquidity Management & Contingency Funding Policy Loan Policy MBL Policy IST Policy
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Eric Dreier, ChairpersonBy-law Change Report
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Karen Browne, CEOTreasurer’s Report
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2015 Growth• Asset Growth = -2.89% or -$5,202,331 National Average = 7.3%
(Without commercial funds, Asset Growth is 8.95%, $14,347,572)• Share/Deposit Growth = -4.83% or -$7,337,786 National Average = 6.8%
(Without commercial funds, Share Growth is 9.21%, $12,212,117)• Loan Growth = 11.39% or $13,892,827 National Average = 10.5%• Loan to Share Ratio = 93.88% Peer Average = 71.26%
80,000
100,000
120,000
140,000
160,000
180,000
200,000
Nov
-13
Dec-
13
Jan-
14
Feb-
14
Mar
-14
Apr-
14
May
-14
ju n
-14
Jul-1
4
Aug-
14
Sep-
14
Oct
-14
Nov
-14
Dec-
14
Jan-
15
Feb-
15
Mar
-15
Apr-
15
May
-15
Jun-
15
Jul-1
5
Aug-
15
Sep-
15
Oct
-15
Nov
-15
Dec-
15
Asset, Share, Loan Growth
Assets Shares & Deposits Loans
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Growth in the Past 10 Years
$-
$20
$40
$60
$80
$100
$120
$140
$160
$180
$200
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Mill
ions
TBACU Growth History
Total Assets Total Deposits Total Loans
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• YTD ROAA = .91%• Total YTD Net Income = $1,616,438
.75% - National Peer Average
0.00
500,000.00
1,000,000.00
1,500,000.00
2,000,000.00
2,500,000.00
Nov
-14
Dec-
14
Jan-
15
Feb-
15
Mar
-15
Apr-
15
May
-15
Jun-
15
Jul-1
5
Aug-
15
Sep-
15
Oct
-15
Nov
-15
Dec-
15
Net Income
Net Income for Month Net Income Year to Date
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40
Return on Average Assets
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10.9% - National Average
• Capital Increased = 11.2% or $2,669,032• Total Capital December 2015 = $26,541,631 or 15.2% of Assets
Credit Union Strength
9.50%10.50%11.50%12.50%13.50%14.50%15.50%16.50%
Capital & Net Worth Ratio
Capital Ratio Net Worth Ratio
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Membership Growth
16,157 membership accounts 15,467 members
12 Month Growth Rates: 2015 Added % of GrowthTotal Membership 1,525 10.9%School Employee Membership 82 4.9%Non-School Emp Membership 1,443 6.0%
12000 12500 13000 13500 14000 14500 15000 15500 16000
Jun-14
Aug-14
Oct-14
Dec-14
Feb-15
Apr-15
Jun-15
Aug-15
Oct-15
Dec-15
Membership Growth
Reason Codes 2015 Added % of GrowthReferred by Dealer Finance 192 47.5%Referral 79 19.6%Student Run Credit Union 8 2.0%Seeking Lower Rates 23 5.7%Existing Member 33 8.2%
82.9%
Sponsorship Codes 2015 Added % of GrowthRetail-Grocery, Dept, Food 322 38.2%Professional Services 200 104.1%Medical – Dr, Dentist, Hosp 178 109.4%Retirees 172 258.3%Manufacturing 169 42.1%
110.4%
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Student Run Credit Unions• Number of student volunteer and
money saved has continued to grow. In 2014, students saved a total of $19,019.
• SRCU’s are in 18 schools, including elementary, charter, private and public schools.
2010-11 2011-12 2012-13 2013-14Volunteers 147 197 309 329Accounts 152 241 357 477
130 180 230 280 330 380 430 480 530
Sude
nts
Participating Youth
-
5
10
15
20
2010-11 2011-12 2012-13 2013-14
# of Schools
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Building Member Loyalty
2015 Remote Deposit Capture Totals747 New Users, Growth of 205.1% Membership Penetration 5.8%3,955 checks total of $2,360,097.21
Checking Accounts7,100, Growth of 13.1%
Membership Penetration45.9%
Bill Pay1,701, Growth of 11.9%
Membership Penetration11%
eStatements8,055, Growth of 17.6%
Membership Penetration52.1%
Debit/ATM Acct ActivityNov - 6,179 Dec – 6,138Jan – 6,325
40% Member Penetration
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Investment Services
CFS Financial Advisor Andrew Maniaci works with TBACU members daily at either TBACU office.
2015 Income - $37,932.58
Portfolio Balance as of 12/31/15 - $21,771,463
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2015 Peer Comparison
0.00%
0.50%
1.00%
1.50%
TBA Peers
ROAA
0.00%
0.50%
1.00%
1.50%
2.00%
TBA Peers
Fees and Other Income to Average Assets
9.00%
11.00%
13.00%
15.00%
TBA Peers
Net Worth
0.00%
5.00%
10.00%
15.00%
TBA Peers
Membership Growth
60.00%
65.00%
70.00%
75.00%
80.00%
TBA Peers
Operating Expense to Gross Income
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TBA Credit Union2015 Annual Meeting Financial Figures
April 19, 2016
Financial Condition 2015 2014 Statement of Earnings 2015 2014
Assets Interest IncomeLoans 135,904,877 122,012,050 Loans 5,731,720 5,350,760Allowance for loan loss -441,913 -460,648 Investments 389,303 436,912Other Receivables 322,453 232,026 Total Interest Income 6,121,023 5,787,672Cash 9,652,332 19,533,623Investments 14,248,813 23,873,838 Interest ExpenseAlloya Capital Share Deposit 519,200 519,200 Members Savings 75,717 75,814Prepaid Expenses 1,052,568 870,218 Dividends 339,823 354,162Fixed Assets 8,748,821 8,861,673 Total Interest Expense 415,540 429,976Accrued Income 358,225 336,488NCUSIF 1,338,231 1,246,556 Provision for Loan Loss 186,176 433,550Other Assets 2,957,675 2,838,588Total Assets 174,661,281 179,863,612 Net Interest Income after
provision for loan loss 5,519,307 4,924,146
Liabilities and Equity Total Non-Interest Income 1,552,878 1,400,437Accounts Payable 3,651,420 4,500,458Accrued Liabilities 25,581 22,740 Non-Interest ExpenseOther Liabilities 115,768 -178,117 Operating Expense 5,470,124 5,057,919Member Shares and Savings 144,768,794 152,106,580 Non-Operating Gain(Loss) -14,377 486,028Capital 26,099,718 23,411,951 NCUSIF Stabilization Expense 0 0Total Liabilities and Equity 174,661,281 179,863,612 Net Earnings 1,616,438 1,752,692
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Peg Klein Credit Committee Chairperson
Lending Report
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• Loans Granted• 9,777• $133,984,059
• Payments Received• $120,091,232
• Net Loan Growth• $13,892,827• 11.39%• Nat’l Ave Growth = 10.5%
0
10,000,000
20,000,000
30,000,000
40,000,000
50,000,000
60,000,000
70,000,000
80,000,000
2007 2008 2009 2010 2011 2012 2013 2014 2015
Auto Loans & Real Estate
Auto Loans Real Estate
0
5,000,000
10,000,000
15,000,000
2008 2009 2010 2011 2012 2013 2014 2015
Other Personal Secured & Unsecured
Personal Line of Credit
Credit Cards
Total Commercial including secured by Real Estate
Other Areas of Loan Growth
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2015 Year End Total Portfolio $21,001,234
Total Income (includes interest and sale proceeds)
$141,240.18
Total Expense$43,323
-
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
2010 2011 2012 2013 2014 2015
Neighborhood Mortgage Solutions
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Average Year End Delinquency .41%
Delinquency Year End Total$517,297
.81% - National Average
2015 Charge Offs.21%
Total Year End Total$292,190
.48% - National Average
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
1.20%
1.40%
2010 2011 2012 2013 2014 2015
Delinquency
0
100000
200000
300000
400000
500000
600000
700000
800000
900000
2010 2011 2012 2013 2014 2015
Charge Off
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Eric Dreier, Chairperson
Report of Outside Auditors
Unfinished & New Business
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Charlene HamlynNominations Committee Chairperson
Election Report
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Eric Dreier, ChairpersonAdjournment