2015 Annual Meeting April 19, Our Mission Statement To serve the community and build trusted relationships.

Transcription

1 2015 Annual Meeting April 19, 2016 Our Mission Statement To serve the community and build trusted relationships.

2 2015 Annual Meeting Agenda Eric Dreier Steve Merten Steve Merten Eric Dreier Eric Dreier Karen Browne Peg Klein Eric Dreier Eric Dreier Nominating Committee Eric Dreier Call the Meeting to Order Roll Call of the Board Minutes of Last Year s Meeting The Report of the Directors Bylaw Changes Report Treasurers Report Credit Committee Report The Report of Outside Auditors Unfinished and New Business Election Report Adjournment

3 Eric Dreier Chairperson Call the Meeting to Order

4 Steve Merten, Secretary Roll Call of the Board Minutes of Last Year s Meeting

5 Eric Dreier, Chairperson Report of the Board of Directors

6 2015 Accomplishments 5 Star Bauer Rating 17 Consecutive Years!

7 2015 Accomplishments Physical Growth Leased Front St 2 nd floor space to Berkshire Hathaway Home Services

8 2015 Accomplishments Physical Growth Opened Member Service Center

9 2015 Accomplishments Physical Growth Started 2015/2016 School year with 18 SRCU s Blair Central Grade Cherry Knoll Courtade East Middle School Eastern Forest Area Middle School Grand Traverse Academy Immaculate Conception Interlochen International School at Bertha Vos Long Lake Old Mission TCAPS Montessori Traverse Heights West Middle School Westwoods Willow Hill

10 2015 Accomplishments Physical Growth Installed Additional Safe Deposit Boxes

11 New Products & Services FREE Checking Risked Priced VISA Credit Cards Chip Enable VISA Credit Cards Board Secure Website SBA Loans

12 Information Technology Hardware Update Cycling Data Loss Prevention Full Internal System Monitoring Refined Secure Capability Enabled Addition of TBA Career Tech Center Intern to the IT Department as Work Experience

13 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

14 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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16 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

17 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

18 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 to Northwestern Michigan College. I am deeply grateful to have been selected as a recipient of your generous contributions to the community and higher education. -Richard Vegh, NMC Scholarship Recipient

19 60 th Year Celebration

20 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

21 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

22 Eric Dreier, Chairperson By-law Change Report

23 Karen Browne, CEO Treasurer s Report

24 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% Asset, Share, Loan Growth 200, , , , , ,000 80,000 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 ju n-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Assets Shares & Deposits Loans

25 Growth in the Past 10 Years Millions $200 $180 $160 $140 $120 $100 $80 $60 $40 $20 $- TBACU Growth History Total Assets Total Deposits Total Loans

26 Net Income 2,500, ,000, YTD ROAA =.91% Total YTD Net Income = $1,616,438 1,500, ,000, , Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Net Income for Month Net Income Year to Date Return on Average Assets.75% - National Peer Average

27 Credit Union Strength Capital Increased = 11.2% or $2,669,032 Total Capital December 2015 = $26,541,631 or 15.2% of Assets 16.50% 15.50% 14.50% 13.50% 12.50% 11.50% 10.50% 9.50% Capital & Net Worth Ratio 10.9% - National Average Capital Ratio Net Worth Ratio

28 Membership Growth 12 Month Growth Rates: 2015 Added % of Growth Total Membership 1, % School Employee Membership % Non-School Emp Membership 1, % Dec-15 Oct-15 Aug-15 Jun-15 Apr-15 Feb-15 Dec-14 Oct-14 Aug-14 Jun-14 Membership Growth Reason Codes 2015 Added % of Growth Referred by Dealer Finance % Referral % Student Run Credit Union 8 2.0% Seeking Lower Rates % Existing Member % 82.9% Sponsorship Codes 2015 Added % of Growth Retail-Grocery, Dept, Food % Professional Services % Medical Dr, Dentist, Hosp % Retirees % Manufacturing % 110.4% 16,157 membership accounts 15,467 members

29 Student Run Credit Unions Sudents Participating Youth Volunteers Accounts Number of student volunteer and money saved has continued to grow. In 2014, students saved a total of $19, # of Schools 10 SRCU s are in 18 schools, including elementary, charter, private and public schools

30 Building Member Loyalty 2015 Remote Deposit Capture Totals 747 New Users, Growth of 205.1% Membership Penetration 5.8% 3,955 checks total of $2,360, Bill Pay 1,701, Growth of 11.9% Membership Penetration 11% estatements 8,055, Growth of 17.6% Membership Penetration 52.1% Debit/ATM Acct Activity Nov - 6,179 Dec 6,138 Jan 6,325 40% Member Penetration Checking Accounts 7,100, Growth of 13.1% Membership Penetration 45.9%

31 Investment Services 2015 Income - $37, Portfolio Balance as of 12/31/15 - $21,771,463 CFS Financial Advisor Andrew Maniaci works with TBACU members daily at either TBACU office.

32 2015 Peer Comparison Net Worth Membership Growth 15.00% 13.00% 11.00% 9.00% TBA Peers ROAA 15.00% 10.00% 5.00% 0.00% TBA Peers 1.50% 1.00% 2.00% 1.50% 1.00% 0.50% Fees and Other Income to Average Assets 0.50% 0.00% TBA Peers 80.00% 75.00% 70.00% 65.00% 60.00% Operating Expense to Gross Income TBA Peers 0.00% TBA Peers

33 TBA Credit Union 2015 Annual Meeting Financial Figures April 19, 2016 Financial Condition Statement of Earnings Assets Interest Income Loans 135,904, ,012,050 Loans 5,731,720 5,350,760 Allowance for loan loss -441, ,648 Investments 389, ,912 Other Receivables 322, ,026 Total Interest Income 6,121,023 5,787,672 Cash 9,652,332 19,533,623 Investments 14,248,813 23,873,838 Interest Expense Alloya Capital Share Deposit 519, ,200 Members Savings 75,717 75,814 Prepaid Expenses 1,052, ,218 Dividends 339, ,162 Fixed Assets 8,748,821 8,861,673 Total Interest Expense 415, ,976 Accrued Income 358, ,488 NCUSIF 1,338,231 1,246,556 Provision for Loan Loss 186, ,550 Other Assets 2,957,675 2,838,588 Total Assets 174,661, ,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 1,400,437 Accounts Payable 3,651,420 4,500,458 Accrued Liabilities 25,581 22,740 Non-Interest Expense Other Liabilities 115, ,117 Operating Expense 5,470,124 5,057,919 Member Shares and Savings 144,768, ,106,580 Non-Operating Gain(Loss) -14, ,028 Capital 26,099,718 23,411,951 NCUSIF Stabilization Expense 0 0 Total Liabilities and Equity 174,661, ,863,612 Net Earnings 1,616,438 1,752,692

34 Peg Klein Credit Committee Chairperson Lending Report

35 80,000,000 70,000,000 60,000,000 50,000,000 40,000,000 30,000,000 20,000,000 10,000, ,000,000 10,000,000 5,000,000 0 Auto Loans & Real Estate Auto Loans Real Estate Other Areas of Loan Growth Other Personal Secured & Unsecured Personal Line of Credit Credit Cards Total Commercial including secured by Real Estate Loans Granted 9,777 $133,984,059 Payments Received $120,091,232 Net Loan Growth $13,892, % Nat l Ave Growth = 10.5%

36 Neighborhood Mortgage Solutions 25,000,000 20,000,000 15,000,000 10,000,000 5,000, Year End Total Portfolio $21,001,234 Total Income (includes interest and sale proceeds) $141, Total Expense $43,323

37 Delinquency 1.40% 1.20% 1.00% 0.80% 0.60% 0.40% 0.20% 0.00% Charge Offs.21% Total Year End Total $292, % - National Average Average Year End Delinquency.41% Delinquency Year End Total $517,297 Charge Off.48% - National Average

38 Eric Dreier, Chairperson Report of Outside Auditors Unfinished & New Business

39 Charlene Hamlyn Nominations Committee Chairperson Election Report

40 Eric Dreier, Chairperson Adjournment