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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.

2021

CHAIRMAN’S REPORT

 

Welcome and thank you for meeting here as a membership for the 65th 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 2021. Assets increased by 6.62%, Loans increased by 4.01%,  deposits decreased by 6.46% or $442,025. Your credit union’s Net Worth remains very strong with a ratio of 23.52%, Gross Income decreased by 1.24% 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 decreased by 3.44% 31,028.82 of Total Exp. was for Loan Loss Provision. Liquidity remained adequate, with approximately $3,063 million available in short term investments or cash equivalents; membership decreased by .90%.During 2021, a total of 165 loans were processed in the total amount of $2,585,821.37 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, 2021

ASSETS: 

 Loans                                        $5,482,214.13

Allow Loan Loss                              <$61,174.67>

Cash on Hand                             $387,243.18

Investments                               $2,740,210.54

Fixed Assets                                    $5,254.32

Other Assets                                  $41,291.65

TOTAL ASSETS                                                           $8,595,039.15

 

LIABILITIES & CAPITAL

Shares                                        $4,228,548.71
Checking                                        $648,204.31
Other Deposits                            $1,514,330.00
Payables/Other  Liab.                     $139,188.43
Reserves                                        $151,526.07
Undivided Earn.                           $1,913,241.63

 TOTAL LIAB & CAPITAL                          $8,595,039.15

 Total Income                                          $546,026.04
Provision for Loan Losses                         $31,028.82
Other Operating Expenses                        $366,337.71
NCUA Stab. Plan                                               $0.00
Total Div Pd                                               $38,060.54
Net Income to Undivided Earnings             $110,598.97

 


GROWTH CHART

    YEAR          ASSETS    DEPOSITS   LOANS     RR&UN.ERN#MEMB 

    

 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

 2019        7,084,639   5,161,162   5,114,338    1,821,973    896

 2020        8,060,694   6,833,108   5,270,603    1,954,168    886

 2021        8,595,039   6,391,083   5,482,214    2,064,768    878

 

 

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 2020 annual audit that was performed by Moore Financial Services, LLC.

  We appreciate the opportunity to serve you with all of your financial needs. 

Steve Senulis,
Chairman

  New & Used Vehicles            232          $4,691,439.60

 Other Secured Loans                  4                 34,034.96

 Signature                                  202               756,739.57

12/31/2021 Loan Totals        438          $5,482,214.13


MEETING AGENDA

 CALL MEETING TO ORDER 6PM
INVOCATION
DETERMINATION OF QUORUM
APPROVAL OF 2021 MINUTES
CHAIRMAN’S REPORT - By-Law Change
NOMINATING COMMITTEE REPORT
ELECTION OF BOARD MEMBERS
DRAWING FOR PRIZES
ADJOURN MEETING

 OFFICIALS

ALTON LANDRY, Chairman, Term Expires 2023

BOBBY WISNOSKI, Vice Chairman, Term Expires 2024

DALE THOMPSON, Secretary, Term Expires 2022

LAMELLE HUNTER, Treasurer/MemOff, Term Expires 2023

TERRI HALL, Assistant MemOff, Term Exp. 2023

ERIC LEBEAUX, Assistant Secretary,Term Expires 2023

DAMIEN MARTIN, Assistant MemOff, Expires 2024

DAVID DAVIS, Advisory Board Member

  SUPERVISORY COMMITTEE

 STEVE SENULIS, Chairman, Appointment Expires 2021

 MARY FREEMAN, Committee Member, Appt. Expires 2021

 CHARNICE BURTON, Committee Mbr, Appt. Expires 2021

 YOLANDA RAMIREZ-FRANCIS, Co. Mbr., Appt. Exp. 2021

 F. A. TAFOYA, Committee Member, Appt. Expires 2021

  OFFICE STAFF

 
KAROL HARVEY, President/CEO

KAREN COLBERT, Loan Officer/MSR 

MATT MCBRIDE, Loan Processor/MSR

SUZI LARRASQUITU Member Service Representative

 AVAILABLE SERVICES

SHARE SAVINGS ACCOUNTS

IRA ACCOUNTS

SHARE CERTIFICATES

CHECKING ACCOUNTS

DEBIT CARDS

DIRECT DEPOSIT

MONEY ORDERS

CASHIER CHECKS

WIRE TRANSFERS

24 HOUR ONLINE ACCESS
& AUDIO RESPONSE

NEW & USED AUTO LOANS

OTHER SECURED LOANS

SIGNATURE LOANS

NOTARY SERVICE FOR MEMBERS

PORT OF HOUSTON CREDIT UNION
63 YEARS OF MEMBER SERVICE

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

Phone     (713) 670-2424; Fax (713) 670-1555

www.POHCU.com

 OFFICE HOURS
M – F 8:00 AM – 2:00 PM

CoVid in Office Hours M,W,F  9:00AM-1:00PM
Remote Hours
T, Th 8:00AM-2:00PM

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

 

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