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2017
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About Port of Houston Credit Union
 
Your Gateway to savings About Us

Welcome to Port of Houston Credit Union.  Founded in 1956, Port of Houston Credit Union is dedicated to serving the needs of members their families.

Who owns the credit union?  You do!  When you open your share account, you become a member and shareholder.  Membership in a credit union is restricted to select groups and their families.

The first credit union was established nearly 150 years ago by, and for, the average working individual.  The principles formed then are the same principles that make credit unions unique financial institutions today.

As a not-for-profit financial cooperative, our business is serving the membership.  Profits are distributed back to the membership through dividends, low fees, services offered and competitive interest rates.  Your credit union’s mission is to provide you with low cost financial services and to help you make the most of you financial resources.

Your deposits are federally insured to $250,000 by the NCUA, a government agency, and backed by the full faith and credit of the U.S. Government.

2018

CHAIRMAN’S REPORT

Welcome and thank you for meeting here as a membership for the 62ndAnnual Meeting of the Port of Houston Credit Union.  As your chairman, I am pleased to report to you the financial condition of your credit union for 2018. Assets increased by 0.01%, Loans decreased by 9.90%,  deposits decreased by 2.51% or  $142,751.00. Your credit union’s Net Worth remains very strong with a ratio of  22.99%,  Gross Income increased by 10.01% by helping our members with vehicle, and other loans; GAP, Extended Service Contracts for mechanical breakdowns, as well as providing Dealer Select information.  Total expenses increased by 15.75%; 22.75% $104,904.40 of Total Exp. was for Loan Loss Provision. Liquidity remained adequate, with approximately $1,410 million available in short term investments or cash equivalents; membership increased by 1.37%. During 2018, a total of 273 loans were processed in the total amount of $1,963,712 for the year. The directors, supervisory committee, and staff continually strive to provide you with the highest quality leadership and service possible.  If you have any comments or suggestions, please feel free to address them in writing to the Credit Union office.

Alton Landry, Chairman

DECEMBER 31, 2018

ASSETS: 

Loans                                                                $5,730,000.56

Allow Loan Loss                                               <$27,415.24>

Cash on Hand                                                     $202,842.35

Investments                                                      $1,473,016.19

Fixed Assets                                                            $4,899.85

Other Assets                                                          $49,536.65

TOTAL ASSETS                                           $7,432,880.36

 

LIABILITIES & CAPITAL: 

Shares                                                                $3,397,771.62

 Checking                                                              $738,739.72

 Other Deposits                                                  $1,398,438.20

Payables/Other  Liab.                                           $189,225.11

 Reserves                                                               $151,526.07

 Undivided Earn.                                               $1,557,179.64

 TOTAL LIAB & CAPITAL                          $7,432,880.36

Total Income                                                         $578,473.21

 Provision for Loan Losses                                      $104,904.40

 Other Operating Expenses                                    $356302.16

         NCUA Stab. Plan                                                        < $0.00 >        

  Total Div Pd                                                           $51,348.92

   Net Income to Undivided Earnings                           $65,917.73

 


GROWTH CHART

    YEAR          ASSETS    DEPOSITS   LOANS     RR&UN.ERN#MEMB 

     2013          5,289,506   3,843,598     4,852,451    1,278,050   811 

     2014          5,995,383   4,509,242    4,787,224   1,393,877    834

     2015          6,180,931    4,567,445    5,236,434   1,477,336    850

     2016          6,564,554   4,901,319    5,194,267    1,560,757    861

     2017          7,432,390   5,699,350   6,359,314    1,642,788    876

      2018        7,432,880   5,556,599   5,730,001    1,708,706    888

 

SUPERVISORY COMMITTEE REPORT

 The main objective and responsibility of the  Supervisory Committee is to oversee the annual audits of the credit union to help ensure that the financial condition of the  credit union is accurately and fairly presented in the credit union’s financial statements. Management practices and  procedures are reviewed for sufficiency in safeguarding member deposits.  Internal Controls are also reviewed for  regular testing and the establishment thereof. In addition to  financial responsibilities, the supervisory committee also  reviews the actions of the board of directors, and officers to  ensure that they are exercising firm control over credit union  affairs with understanding of their role, and that they promote  the credit union for its intended purposes. Finally, the  supervisory committee ensures that the credit union is in full  compliance with relevant laws and regulations. 
The credit union received an excellent report from the 2018 annual audit that was performed by the Credit Union Resources Department of Cornerstone C U League.  We  appreciate the opportunity to serve you with all of your financial needs. 
Steve Senulis,
Chairman

  New & Used Vehicles         286          $4,726,525.39

 Other Secured Loans               8                90,222.02

 Signature                             416               913,253.15

12/31/2018 Loan Totals        710          $5,730,000.56


MEETING AGENDA

 CALL MEETING TO ORDER 6PM
INVOCATION
DETERMINATION OF QUORUM
APPROVAL OF 2018 MINUTES
CHAIRMAN’S REPORT
NOMINATING COMMITTEE REPORT
ELECTION OF BOARD MEMBERS
DRAWING FOR PRIZES
ADJOURN MEETING

 OFFICIALS

ALTON LANDRY, Chairman, Term Expires 2020

DAVID DAVIS, Board Member, Term Expires 2020

BOBBY WISNOSKI, Vice Chairman, Term Expires 2021

DALE THOMPSON, Secretary, Term Expires 2019

 LAMELLE HUNTER, Treasurer/MemOff, Term Expires 2020

TERRI HALL, Asst. Secretary, Term Exp. 2019

MYRA SECHRIST, AsstSecretaryMemOff,Term Expires 2020

ERIC LEBEAUX, Advisory Board Member, Expires 2020

  SUPERVISORY COMMITTEE

 STEVE SENULIS, Chairman, Appointment Expires 2019

 MARY FREEMAN, Committee Member, Appt. Expires 2019

DAMIEN MARTIN, Committee Member, Appt. Expires 2019

 CHARNICE BURTON, Committee Mbr, Appt. Expires 2019

YOLANDA RAMIREZ-FRANCIS, Co. Mbr., Appt. Exp. 2019

  OFFICE STAFF

 
KAROL HARVEY, President/CEO

KAREN COLBERT, Loan Officer/MSR 

MATT MCBRIDE, Member Service Representative

 

AVAILABLE SERVICES

SHARE SAVINGS ACCOUNTS

IRA ACCOUNTS

SHARE CERTIFICATES

CHECKING ACCOUNTS

DEBIT CARDS

DIRECT DEPOSIT

MONEY ORDERS

CASHIER CHECKS

TEMPORARY CHECKS

WIRE TRANSFERS

24 HOUR ONLINE ACCESS
& AUDIO RESPONSE

NEW & USED AUTO LOANS

SIGNATURE LOANS

SENIOR CHECKING

NOTARY SERVICE FOR MEMBERS

PORT OF HOUSTON CREDIT UNION
62 YEARS OF MEMBER SERVICE

Located on the 1st floor 111 E Loop N  Hou.,TX 77029

   Audio Response    (713) 670-7524

                  Phone     (713) 670-2424; Fax (713) 671-0359

www.POHCU.com

 OFFICE HOURS

M – F 8:00 AM – 2:00 PM

This Credit Union is federally insured by
the National Credit Union Administration

 

Accounts federally insured to $250,000. by the NCUA