2015-05-15T15:03:22-05:00 2014-12-31 420714325 MCGLADREY LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2014-01-01 750830371 NORTH EAST TEXAS CREDIT UNION NORT 9036562576 1115 LONE STAR BLVD LONE STAR TX 75668 KAY STEWART PRESIDENT/CEO 9036562576 2015-05-15 1 GERALD B KISSELL P00092658 6123324300 2014 2016-04-25 22:37:26Z KAY STEWART 1115 LONE STAR BLVD LONE STAR TX 75668 10844444 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 63 6 109895 -140782 0 0 7445919 7233166 549223 661141 45481 38311 8040623 7932618 5000 6000 555507 490898 3250214 3480845 0 0 0 3069015 3296176 6879736 7273919 1160887 658699 128449941 138731778 114422661 123694269 14027280 15037509 X FINANCIAL COOPERATIVE PROVIDING LOANS/SERVICES TO CREDIT UNION MEMBERS. 1 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, YOUTH, AND YOUNG ADULTS 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 TO MEMBERS OF THE COOPERATIVE. NETCU EXPERIENCED GROWTH IN THE NUMBER OF MEMBERS DURING 2014. WE STARTED THE YEAR WITH 15,670 MEMBERS AND ENDED THE YEAR 12/31/2014 WITH 16,156 MEMBERS. NETCU 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 LOANS ARE AVAILABLE. NETCU ENDED 12/31/2014 WITH 6,186 LOANS TOTALING $79,448,101.32. IN 2014, 2,596 LOANS WERE FUNDED, TOTALING $32,540,797.20. 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. ON-LINE BILL PAYMENT ALLOWS MEMBERS TO PAY BILLS ELECTRONICALLY. CHECK IMAGES AND E-STATEMENTS ARE AVAILABLE ON-LINE TO MEMBERS. OUR AUDIO RESPONSE SYSTEM, UPDATED IN 2012, IS A TELEPHONE SERVICE THAT ALLOWS MEMBERS ACCESS TO THEIR CU ACCOUNT FROM ANYWHERE. WE ALSO ARE EQUIPPED TO OPEN NEW ACCOUNTS THROUGH AN ON-LINE PLATFORM. THE CREDIT UNION ALSO OFFERS THE FOLLOWING SERVICES - CHECKING OPTIONS, 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 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 3365 0 1 63 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 172067 0 14022 KEITHA NILSSON EXECUTIVE VP 40.00 X 117215 0 16100 289282 0 30122 2 0 1 0 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 SYSTEM PROCESSING/PROGRAMS 441612 JHA PAYMENT PROCESSING SOLUTIONS 1100 OLIVE WAY SUITE 320 SEATTLE WA 98101 DEBIT CARD/ATM PROCESSING 371513 FINANCIAL DESIGN & CONSTRUCTION 8330 MEADOW ROAD STE 200 DALLAS TX 75231 CONTRACTOR 338188 WINDSTREAM PO BOX 9001908 LOUISVILLE KY 40290 COMMUNICATION/DATA LINES 239030 EAST TEXAS LAWN CARE P O BOX 486 JUDSON TX 75660 LANDSCAPING/LAWN CARE 236351 5 LOAN INTEREST INCOME 522100 4607921 4607921 FEE INCOME 522100 1813989 1813989 OTHER INCOME 522100 811256 701361 109895 7233166 628813 628813 2859104 85050 2820905 90921 38199 -5871 32328 32328 INCOME FROM ADVANCE PREMIUM ACCT 900099 38311 38311 38311 7932618 7123271 109895 699452 X 6000 490898 321337 2332343 98074 536153 192938 9803 91632 1133619 123830 793091 31942 210089 60137 371078 88109 DEBIT CARD LOSSES 100578 PROVISION FOR LOAN/OD L 80600 OTHER RE EXPENSES 54573 LOAN SERVICING 42855 104240 7273919 3294845 4361538 4892588 6842236 75710137 78746142 8841853 2970590 5348750 5871263 13614418 17505374 24724145 24353605 865058 1051620 128449941 138731778 245360 348335 12590626 12693264 101586675 110652670 114422661 123694269 X 0 0 0 0 14027280 15037509 14027280 15037509 128449941 138731778 658699 351530 0 X 0 1 X 1 0 0 1 X 1181990 1181990 4718415 1102774 3615641 567520 445568 121952 1647233 977499 669734 726695 444749 281946 5871263 BANK CERTIFICATES 16249975 F CUNA MUTUAL LIFE INS 418077 F NCUSIF CAPITAL DEPOSIT 1129077 F CORP AMERICA SHARE ACCOUNT 5 F CUNA MUTUAL SPLIT DOLLAR LIFE INS 3539673 F EXECUTIVE BENEFIT COLI PREFUNDING INV 3016798 F 24353605 MEMBERS' SHARES 110652670 110652670 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. 1 SECONDARY EDUCATION SCHOLARSHIPS 6 6000 PART I, LINE 2: THE CREDIT UNION SENDS SCHOLARSHIP FUNDS DIRECTLY TO THE SCHOOL ON BEHALF OF THE RECIPIENT. X X X 0 0 0 KAY STEWART PRESIDENT/CEO 158688 0 10047 0 3332 0 7853 0 7079 0 186999 0 0 0 FORM 990, PART III, LINE 2 DURING 2014, NETCU ADDED A 2ND FULL SERVICE BRANCH IN MT. PLEASANT, TX. A FULL SERVICE ATM WAS ADDED IN OMAHA, TX. MOBILE DEPOSIT WAS ADDED AS A NEW TECHNOLOGY SERVICE, AS WELL AS AN ONLINE LOAN APPLICATION PLATFORM. 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 OR EXCESS DUES 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, 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 11 A SENIOR MANAGEMENT TEAM AND THE BOARD OF DIRECTORS WILL REVIEW THE FORM 990 PRIOR TO FILING. 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 EVALUATION 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 117,480. DEBIT CARD/ATM PROCESSING 366,861. JACK HENRY/PROCESSING SERVICES 444,440. MEMBER SHARE DRAFT SERVICES 147,905. PROF SER/COMPUTER MONITORING-RECOVERY 56,933. NET FINANCIAL SERVICE CENTER 1115 LONE STAR BLVD STE A LONE STAR TX 75668 800967286 MEMBER BUSINESS LOANS TX -17517 3388372 NORTH EAST TEXAS CREDIT UNION