2012-05-10T13:11:33-05:00 2011-12-31 420714325 MCGLADREY LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2011-01-01 750830371 NORTH EAST TEXAS CREDIT UNION NORT 9036562576 1115 LONE STAR BLVD LONE STAR TX 75668 KAY STEWART 9036562576 2012-05-08 1 GERALD B KISSELL P00092658 6123324300 2011 2016-02-24 21:20:13Z KAY STEWART 1115 LONE STAR BLVD LONE STAR TX 75668 7818926 0 X WWW.THENETCU.COM X 1948 TX "NOT FOR PROFIT, BUT FOR SERVICE WHERE WE DO THE MOST FOR YOU." 5 5 63 0 130799 -29772 0 0 7699232 7285243 320078 530620 0 0 8019310 7815863 6000 6000 1310770 864824 2719538 2821378 0 0 0 3649837 2959985 7686145 6652187 333165 1163676 111973605 117733338 101166308 105707465 10807297 12025873 X TO INCREASE OUR MEMBERS FINANCIAL WELL BEING AND TO INCREASE OUR MEMBERS STANDARD OF LIVING. 1 0 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. 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 CONTINUOUSLY RESEARCHES AND INVEST 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. 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. WE ALSO ARE EQUIPPED TO OPEN NEW ACCOUNTS THROUGH AN ON-LINE PLATFORM. THE CREDIT UNION ALSO OFFERS THE FOLLOWING SERVIES - 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, INDIRECT LENDING, LOAN INSURANCE PROTECTION PRODUCTS. 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 0 1 3638 0 1 63 1 1 1 0 0 0 0 0 X 5 5 0 0 0 0 1 1 0 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 1.00 X X 0 0 0 EARL ALEXANDER 1.00 X X 0 0 0 JOE BROWN 1.00 X X 0 0 0 WILLIAM GLOVER 1.00 X 0 0 0 ROY HENRY 1.00 X 0 0 0 KAY STEWART 40.00 X 175136 0 14189 KEITHA NILSSON 40.00 X 117884 0 12071 293020 0 26260 2 0 1 0 JACK HENRY & ASSOCIATES PO BOX 5033328 ST LOUIS MO 63150 DATA PROCESSING 352964 SPRINT PO BOX 219100 KANSAS CITY MO 64141 COMMUNICATION/PHONE 110542 WINDSTREAM PO BOX 107522 LOUISVILLE KY 40290 COMMUNICATION/PHONE 107522 3 LOAN INTEREST INCOME 522100 5275641 5275641 FEE INCOME 522100 1689319 1689319 OTHER INCOME 522100 320283 189484 130799 7285243 504155 504155 29528 992 2071 28536 -2071 26465 26465 7815863 7154444 130799 530620 6000 864824 319280 1911228 67728 354109 169033 50103 28578 618663 100890 821641 70204 160835 47237 320380 276093 PROVISION FOR LOAN LOSS 204661 PROVISION FOR OD LOANS 90000 LOAN SERVICING 77716 MISCELLANEOUS EXPENSE 48652 44332 6652187 3170465 3120899 2900050 10208539 75721481 73217246 6498784 3090562 3669138 3408222 5783318 6676095 19669388 16710477 1059765 4391860 111973605 117733338 907014 874131 12154520 12451255 88104774 92382079 101166308 105707465 X 0 0 0 0 10807297 12025873 10807297 12025873 111973605 117733338 X 1163676 54900 X 0 1 1 X 0 0 1 616151 616151 3008711 824547 2184164 544046 382123 161923 2329876 1883892 445984 3408222 BANK CERTIFICATES 12110768 F CUNA MUTUAL LIFE INS 337680 F NCUSIF CAPITAL DEPOSIT 1002268 F CUSO INVESTMENT 3259756 F CORP AMERICA SHARE ACCOUNT 5 F 16710477 MEMBERS' SHARES 92382079 92382079 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 HIGH SCHOOL SENIOR SCHOLARSHIPS 6 6000 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: ALL FUNDS ARE PAID DIRECTLY TO THE SCHOOLS UPON SUBMISSION OF THE REQUIRED INFORMATION BY THE SCHOLARSHIP WINNERS. X X X 0 0 0 KAY STEWART 140386 0 33836 0 914 0 6937 0 7252 0 189325 0 0 0 NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 DURING 2011, NORTH EAST TEXAS CREDIT UNION (NETCU) ADDED TEXT BANKING TO IT'S TECHNOLOGY OFFERINGS. NETCU REDESIGNED OUR FRESH START CHECKING DEMAND ACCOUNT. WE PARTNERED WITH A NEW COMPANY TO OFFER MERCHANT SERVICES FOR BUSINESS MEMBERS, AND 7 EMPLOYEES COMPLETED THE CUNA CERTIFIED FINANCIAL COUNSELING PROGRAM. 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 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 UNION' AND BANKS' AVERAGE SALARIES FOR COMPARABLE POSITIONS DETERMINED BY OUR GEOGRAPHIC AREA. FORM 990, PART VI, SECTION C, LINE 19 THIS INFORMATION IS AVAILABLE TO ALL MEMBERS VIA REQUEST. NOTICE OF THIS IS POSTED ON THE CREDIT UNION WEBSITE. MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE FOYERS OF ALL BRANCH LOCATIONS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: CHANGE IN UNREALIZED GAIN/LOSS 54,900. TOTAL TO FORM 990, PART XI, LINE 5: 54,900. NET FINANCIAL SERVICE CENTER 1115 LONE STAR BLVD STE A LONE STAR TX 75668 800967286 MEMBER BUSINESS LOANS TX 111826 3259756 NORTH EAST TEXAS CREDIT UNION