2017-05-12T10:44:07-05:00 2016-12-31 420714325 RSM US LLP 801 Nicollet Mall Suite 1100 Minneapolis MN 55402 990 2016-01-01 750830371 North East Texas Credit Union NORT 9036562576 1115 Lone Star Blvd Lone Star TX 75668 Kay Stewart President/CEO 9036562576 2017-05-10 1 Gerald B Kissell P00092658 6123324300 108.171.131.171 2017-05-10 23:03:44 CD P B6D94BCBCC189FE881FA616976D0E47D3818265C 65B732CC21A685C3520E3477F1E626F183C850C5 2016 2021-01-29 14:40:06Z Kay Stewart 1115 Lone Star Blvd Lone Star TX 75668 10865644 0 X www.thenetcu.com X 1948 TX To increase our members' financial well being and to increase our members' standard of living 5 5 61 6 140466 -26748 0 0 7122350 7028030 611927 808074 36815 23559 7771092 7859663 5000 7000 503829 501307 3439261 3403244 0 0 0 3160510 3393680 7108600 7305231 662492 554432 146908134 143730806 131216075 127692038 15692059 16038768 X Financial cooperative providing loans/services to credit union members. 0 0 North East Texas Credit Union (NETCU) offers a variety of savings accounts in order to best serve our members. Our member share accounts pay regular monthly dividends on balances of $100 or more. Dividend rates increase as balances increase. We also have special accounts available for children and youth offering special benefits to help young people learn to save and manage money. Share Certificates are accounts that provide higher rates to members with larger sums to put into savings over a fixed period of time. NETCU also offers a variety of IRA's including Roth and Traditional. NETCU ended 2016 with total share balances of $127,315,414. NETCU added a new share draft account in 2016 that offers a full package of value added benefits including but not limited to no minimum balance requirement, identity theft protection, and accidental death coverage. North East Texas Credit Union has always offered loans at competitive or lower rates than other financial institutions. NETCU is able to serve its entire membership with our Risk-Based Lending program. Consumer loan offerings include but are not limited to Auto Loans, Bereavement, Tax Refund, Computer, Furniture, and Agricultural loans. NETCU also maintains a portfolio of consumer real estate loans. Fixed rate and balloon loans for purchase, home improvement, home equity, and construction are available. NETCU ended 12/31/2016 with 6,084 loans totaling $80,227,290. 2,774 of these loans totaling $33,108,567 were funded in 2016. NETCU continuously researches and invests in new technology to better serve its members. NET Teller Internet Banking offers online account history inquiries, statement retrieval, current transaction history, on-line transfers, loan payments, and stop payments. Text Banking allows members to check their financial status even if they don't have a smart phone or web enabled device. Mobile Deposit allows for the deposit of checks through image. On-line Bill Payment allows you to pay bills electronically. Check Images and E-Statements are available on-line to members. Our audio response system is a telephone service that allows members access to their CU account from anywhere. NETCU is also equipped to open new accounts and apply for loans through an on-line platform. NETCU utilizes Member Alerts which are alerts sent via text and email allowing NETCU to keep members up to date on data breaches, weather related closings, or other emergency information. In 2016, NETCU added Mobile Wallet technology to our technology services. Additionally, all debit cards were converted to the new EMV technology in an effort to provide our membership additional protection from potential fraud. The Credit Union also offers the following services - overdraft protection, courtesy pay, debit cards, credit cards, ATM network, direct deposit, safe deposit boxes, money transfer services, business checking, member business lending, and loan insurance protection products. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 3040 0 1 61 1 1 1 0 0 0 0 0 X 5 5 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X Kay Stewart 9036562576 1115 Lone Star Blvd Lone Star TX 75668 Mark Allen Chair 1.00 X X 0 0 0 Earl Alexander Vice Chair 1.00 X X 0 0 0 Joe Brown Secretary/Treasurer 1.00 X X 0 0 0 William Glover Director 1.00 X 0 0 0 Roy Henry Director 1.00 X 0 0 0 Kay Stewart President/CEO 40.00 X 298773 0 14396 Keitha Nilsson Executive VP 40.00 X 122930 0 15945 421703 0 30341 2 0 1 0 Jack Henry & Associates PO Box 609 Monett MO 65708 Computer Processing 545491 Windstream PO Box 9001908 Louisville KY 40290 Telephone/Data Communication Lines 236771 2 Loan Interest Income 522100 4322196 4322196 Fee Income 522100 1819097 1819097 Other Income 522100 886737 746271 140466 7028030 803182 803182 2433272 577601 2412063 593918 21209 -16317 4892 4892 Income from advance premium acct 900099 23559 23559 23559 7859663 6887564 140466 831633 X 7000 501307 452044 2275473 78964 400117 196646 7987 97084 1335258 90934 739461 27154 233388 34352 27883 394234 57150 Debit Card Losses 167107 Provision for Loan/OD L 42938 Loan Servicing 29152 Other RE Expenses 17267 92331 7305231 4035744 4038675 10826201 6612493 80060407 79701231 8994328 3745512 5537994 5248816 20955918 26421251 24824008 20894596 667862 813744 146908134 143730806 200570 376624 13123835 12265072 117891670 115050342 131216075 127692038 X 0 0 0 0 15692059 16038768 15692059 16038768 146908134 143730806 554432 -207723 0 X 0 1 X 1 0 0 1 X 1181990 1181990 4765108 1426941 3338167 586499 486520 99979 2105196 1646024 459172 355535 186027 169508 5248816 Bank Certificates 12867072 F NCUSIF Capital Deposit 1226195 F Corp America Share Account 5 F CUNA Mutual Split Dollar Life Ins 3616006 F Executive Benefit COLI Prefunding Inv 3185318 F 20894596 Members' Shares 115050342 115050342 Part IV, Line 2b: The Credit Union holds funds in escrow to pay taxes and insurance on behalf of its mortgage loan customers. The Credit Union also serves as custodian for assets. X X X 0 0 0 Kay Stewart President/CEO 286225 0 9344 0 3204 0 8399 0 5997 0 313169 0 0 0 Form 990, Part VI, Section A, line 6 The credit union's members have rights to elect the members of the governing body. The credit union's members also receive a share of the organization's profits in the form of cash dividends. Form 990, Part VI, Section A, line 7a Members of the credit union have the right to elect one or more members of the organization's governing body, whether periodically, or as vacancies arise, or otherwise. Form 990, Part VI, Section A, line 7b Members of the credit union have the right to approve the governing body's election and removal of members of the governing body, as well as other matters that are subject to the approval of members of the credit union as they occur. Form 990, Part VI, Section B, line 11b Senior management reviews Form 990. A copy of Form 990 is provided to the board of directors prior to filing with the IRS. Form 990, Part VI, Section B, line 12c This information is addressed in our employee handbook. All new employees attend a new hire orientation where this material is covered. The employee handbook is updated and reviewed with all employees at least annually. Form 990, Part VI, Section B, line 15 The credit union uses the CompEase performance evaluating system. This system compares employee salaries to other credit unions and banks' average salaries for comparable positions determined by our geographic area. Form 990, Part VI, Section C, line 19 Financial statements, conflict of interest policy and governing documents are available to all members upon request for the same period of disclosure as set forth in section 6104(d). Notice of this is posted on the credit union website. Monthly financial statements are posted in the foyers of all branch locations. Form 990, Part IX, line 11g Misc Professional Expenses 124,741. Debit Card/ATM Processing 428,193. Jack Henry/Processing Services 543,892. Member Share Draft Services 106,509. Prof Ser/Computer Monitoring-Recovery 131,923. Net Financial Service Center 1115 Lone Star Blvd Ste A Lone Star TX 75668 800967286 Member Business Loans TX -9692 3369680 North East Texas Credit Union