2018 Annual Report

Texas Trust Logo

"  Together, our members and the credit union are making a difference

We've seen a lot of change this year and even more growth. The key to our success has always been and continues to be the members we serve."

- CEO & President, Jim Minge

Note From
Our Treasurer


In 2018, we continued to provide a competitive loan solution for our members. We grew loans by 1.6%. We also offered one of the best CD rates in the country for our 19 month CD Special at 3.00% producing over $120 million in funding. Our Total Assets grew by 1.9%, finishing the year at $1.2 billion.

- Treasurer, Board of Directors,
Charlie Bottorff


Note From
Our Audit Committee


The credit union is reviewed periodically by the Texas Credit Union Department. The CUD’s review focuses on safety, soundness and compliance with the regulations governing Texas Trust and our operations. The credit union did not have any reportable deficiencies.

- Chairperson of Audit Committee,
Joe Johnson




2018 MILESTONES

Total Locations

  Million

Total Given Back

Total Members

  Billion

Total Assets



Statement of Financial Condition

(CONSOLIDATED)


2017 2018
Cash $37,052,525 $31,350,282
Total Loans $905,721,081 $919,835,546
Investment $178,026,675 $195,051,186
Other Assets $97,306,214 $94,659,501
Total Assets $1,218,106,495 $1,240,896,515
Deposits $965,921,803 $981,274,489
Other Liabilities $132,428,070 $136,581,074
Total Liabilities $1,098,349,873 $1,117,855,563
Total Equity $119,756,622 $123,040,952
Total Liabilities & Equity $1,218,106,495 $1,240,896,515



Statment of Income

(CONSOLIDATED)


2017 2018
Interest Income $33,057,431 $38,750,835
Other Income $19,053,435 $20,970,791
Cost of Funds $5,746,268 $7,127,008
Other Expenses $38,312,606 $45,158,050
Net Income $8,051,992 $7,436,568



Statement of Giving

(ABRIDGED)


2017 2018
Local Students (ISDs) $1,547,987 $1,731,768
Local Students (UTA) $66,531 $92,768
Bonus Checking $1,298,785 $1,778,241
Total Give Back $2,913,303 $3,602,777


THANK YOU TO ALL OF OUR VOLUNTEERS!


BOARD OF DIRECTORS TERM ENDS
Assistant Secretary Charlie Hollabaugh 2019
Chairperson Larry Skinner 2021
Member Bob McLellan 2020
Membership & Security Officer Don Higginbotham 2019
Secretary Susan Smith 2019
Treasurer Charlie Bottorff 2020
Vice Chairperson Charlie Nutt 2021


ADVISORY BOARD MEMBERS
Eddie Serface
Sean Choate

AUDIT COMMITTEE
Board of Directors Member Charlie Bottorff
Member Eddie Serface
Member Joe Johnson
Member Philip Martinez


CUSO BOARD OF MANAGERS
Chairperson Susan Smith
Member Karen Sauls
Member Lonnie Morgan
Vice Chairperson Leroy Buchanan

Executive Staff