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Get
2017
Annual
Report
in PDF
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Get
2017
Annual
Report
in PDF
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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.

2017

CHAIRMAN’S REPORT

Welcome and thank you for meeting here as a
membership for the 61th Annual 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 2017.
Assets increased by 13.22%, Loans increased by 22.43%,
Member/NonM deposits increased by 16.28% as member’s deposits grew $300,031. Your credit union’s Net Worth remains very strong with a ratio of 22.10%, Gross Income increased by 1.83% by helping our members with vehicle, and other loans; GAP, Extended Service Contracts for mechanical breakdowns, along with Member Home Loans, as well as providing Dealer Select information, and 159 Hurricane Harvey Loans. Total expenses increased by 2.49%, of which 12.31% was for Provision for Loan Losses. Liquidity remained adequate, with approximately $1,035 million available in short term investments or cash equivalents, and membership increased by 1.74%.During 2017, a total of 465 loans were processed in the total amount of $3,276,977 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, 2017

ASSETS: 

Loans                                                                $6,359,314.06

Allow Loan Loss                                               <$60,376.45>

Cash on Hand                                                     $103,326.87

Investments                                                      $983,584.64

Fixed Assets                                                            $4,185.24

Other Assets                                                          $42,355.26

TOTAL ASSETS                                           $7,432,389.62

 

LIABILITIES & CAPITAL: 

Shares                                                                $3,042,724.73

 Checking                                                              $708,596.67

 Other Deposits                                                  $1,948,028.50

Payables/Other  Liab.                                           $90,251.74

 Reserves                                                               $151,526.07

 Undivided Earn.                                               $1,491,261.91

 TOTAL LIAB & CAPITAL                          $7,432,389.62

Total Income                                                         $525,827.44

 Provision for Loan Losses                                      $53,313.11

 Other Operating Expenses                                    $345,500.56

         NCUA Stab. Plan                                                        < $300.00 >        

  Total Div Pd                                                           $45,282.86

   Net Income to Undivided Earnings                           $82,030.91

 


GROWTH CHART

    YEAR          ASSETS    DEPOSITS   LOANS     RR&UN.ERN#MEMB 

     2012          5,152,732   3,869,247     3,767,260    1,218,058   785

     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

 

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 2017 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          306         $5,297,538.30

 Other Secured Loans               7                85,282.91

 Signature                             432              976,492.85

12/31/2017 Loan Totals       745         $6,359,314.06


MEETING AGENDA

 CALL MEETING TO ORDER 6PM

INVOCATION

DETERMINATION OF QUORUM

APPROVAL OF 2017 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 2018

 DALE THOMPSON, Secretary, Term Expires 2019

 LAMELLE HUNTER, Treasurer/MemOff, Term Expires 2020

 TERRI HALL, Asst. Secretary, Term Exp. 2019

 MYRA SECHRIST, Membership Officer, Term Expires 2020

 ERIC LEBEAUX, Advisory Board Member, Expires 2020

 SUPERVISORY COMMITTEE

 STEVE SENULIS, Chairman, Appointment Expires 2018

 MARY FREEMAN, Committee Member, Appt. Expires 2018

 ILA MORRISON, Committee Member, Appt. Expires 2018

 CHARNICE BURTON, Committee Mbr, Appt. Expires 2018

YOLANDA RAMIREZ-FRANCIS, Co. Mbr., Appt. Exp. 2018

  

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
60 YEARS OF MEMBER SERVICE

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

   Audio Response    (713) 670-7524; (713) 670-7527

                  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