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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.
2022
CHAIRMAN’S REPORT
Welcome and thank you for meeting
here as a membership for the 66th 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 2022. Assets increased by .59%, Loans
increased by 4.01%, deposits increased by 1.09% or $69,646.
Your credit union’s Net Worth remains very strong with a
ratio of 24.99%, Gross Income
decreased by 13.39% 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 7.72% 19,605.34 of
Total Exp. was for Loan Loss Provision.
Liquidity remained adequate, with approximately $2,997
million available in short term investments or cash
equivalents; membership decreased by 3.08%.
During 2022, a total of 170 loans were processed in the
total amount of $2,568,515 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, 2022
ASSETS:
Loans
$5,594,284.83
Allow Loan Loss
<$51,027.47>
Cash on Hand
$276,206.27
Investments
$2,720,356.53
Fixed Assets
$11,682.29
Other Assets
$94,323.84
TOTAL ASSETS
$8,645,826.29
LIABILITIES & CAPITAL
Shares
$4,353,020.99
Checking
$534,768.06
Other Deposits
$1,497,909.83
Payables/Other
Liab.
$99,579.54
Reserves
$151,526.07
Undivided Earn.
$2,009,021.80
TOTAL
LIAB & CAPITAL
$8,645,826.29
Total Income
$517,878.30
Provision for Loan Losses
$19,605.34
Other Operating Expenses
$367,096.14
NCUA Stab. Plan
$0.00
Total Div Pd
$35,396.65
Net Income to Undivided Earnings
$95,780.17
GROWTH CHART
YEAR ASSETS
DEPOSITS
LOANS RR&UN.ERN#MEMB
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
2022 8,645,826
6,460,729
5,594,285
2,160,548
851
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 2021 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 218
$4,744,002.03
Other
Secured Loans
1
9,787.11
Signature
167
840,495.69
12/31/2022 Loan Totals
386
$5,594,284.83
MEETING AGENDA
CALL
MEETING TO ORDER 6PM
INVOCATION
DETERMINATION OF QUORUM
APPROVAL OF 2021 MINUTES
CHAIRMAN’S REPORT
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 2025
LAMELLE HUNTER,
Treasurer/MemOff, Term Expires 2023
TERRI HALL, Assistant MemOff,
Term Exp. 2023
ERIC
LEBEAUX, Assistant Secretary,Term Expires 2023
DANA BLUME, Assistant MemOff, Term Expires 2023
DAVID DAVIS, Advisory Board
Member
SUPERVISORY COMMITTEE
STEVE
SENULIS, Chairman, Appointment Expires 2022
MARY FREEMAN,
Committee Member, Appt. Expires 2022
CHARNICE BURTON,
Committee Mbr, Appt. Expires 2022
YOLANDA
RAMIREZ-FRANCIS, Co. Mbr., Appt. Exp. 2022
F.
A. TAFOYA, Committee Member, Appt. Expires 2022
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,Th,F
9:00AM-1:00PM
Remote Hours M,T,W,Th,F
8:00AM-2:00PM
This Credit Union is
federally insured by
the
National Credit Union Administration
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