2019ANNUAL REPORT

Educators Credit Union is committed to providing sound financial services, which are beneficial to the member-owner. The credit union will accomplish this in a caring, professional manner.

At ECU we are focused on providing competitive financial products and services to help you manage your individual financial needs. We strive to be your trusted financial partner by working to make every member’s experience positive and efficient.

OUR MEMBERS MATTER

Your support of the credit union in 2019 led to another solid year financially. We ended the year with over $415 million in assets and a capital ratio of 17.63 percent. We continued to exceed the NCUA’s well-capitalized minimum of 7 percent, highlighting our financial strength which puts us in a great position to continue investing in our members and the future of ECU. We also had a record year serving the lending needs of our members, originating over $94 million in loans, for purchasing or refinancing cars, financing a home equity loan or personal loan and getting new credit cards.

We want service for our members to be convenient, personal and secure. One of the most popular ways members manage their money is through online and mobile banking. In 2019, we upgraded our online channels including online banking, online bill pay and our mobile app. This new platform streamlined the user-experience and increased functionality giving our members the ability to see all their accounts in one place, provided a personal financial management tool to help members track spending and create budgets and introduced a new mobile app which includes fingerprint ID and face recognition capability.

With convenience in mind we launched a new online loan application where members and non-members alike can submit an application and receive quick decisioning. We also installed new ATMs at our Lake Shore and Hewitt Office.

A POSITIVE IMPACT IN THE COMMUNITY

Throughout 2019, ECU participated and supported several programs to benefit the communities we serve. We raised funds for the American Cancer Society’s Relay for Life by holding several raffles and bake sales. We supported organizations including Children’s Miracle Network, Toys for

ECU BOARD OF DIRECTORS/TERM EXPIRATION

JO ANN BROWN, BOARD CHAIRMAN MARCH 2021

AL POLLARD, BOARD VICE CHAIRMAN MARCH 2022

HAZEL ROWE, BOARD SECRETARY MARCH 2021

RAYMOND WELDON MARCH 2020

EDWARD HERNANDEZ MARCH 2020

BEN SELMAN MARCH 2022

STAN MITCHELL MARCH 2022

FROM OUR

P R E S I D E N T / C E O & C H A I R M A N

AGENDA

Tots and many Education Foundations at local school districts. Several employees also volunteered their time by serving on area boards and committees.

Through the Ralphael “Ralph” Barksdale Jr. Memorial Scholarship program we provided $12,000 in scholarships to outstanding students to help cover tuition and fees at the college of their choice.

From the beginning, being involved and trying to make a positive impact on the communities we serve was something which was very important to ECU. We believe in providing support across our many communities and this support doesn’t go unnoticed. ECU was presented the “Outstanding Philanthropic Business/Corporation Award” by the Central Texas Chapter for the Association of Fundraising Professionals. Our Gatesville branch was named “Business of the Month” by the Gatesville Chamber of Commerce. We were selected as an award winner in the “Best Banking and Best Personal Loans in Waco” categories by Locals Love Us and voted “The Best Credit Union” by readers of the Wacoan.

LOOKING TO TOMORROW

In 2020, we will continue to focus on bringing our members the products and services you expect from your credit union. One of our efforts already underway is the upgrade of our debit cards. We will be combining our Debit and ATM card to one card making it more convenient for our members.

We are ever aware that you have a choice when it comes to financial institutions. Everyone here at ECU – your board of directors, management and staff – thanks you for your membership.

JOE HUTYRAPRESIDENT/CEO

JO ANN BROWNCHAIRMAN

I. Call to Order II. Invocation III. Acknowledgments IV. Reports V. Unfinished Business VI. New Business VII. Recognitions VIII. Adjournment

2019

$89,618,819.10$135,984,681.49$184,547,383.62

$1,106,107.25$3,947,812.71

$105,683.01$415,310,487.18

$657,233.31

$341,416,536.48$70,105,171.71$3,131,545.68

$415,310,487.18

$11,995,782.27$1,985,118.34

$13,980,900.61

$6,914,524.80$2,594,112.67

$0.00$9,508,637.47

$4,472,263.14

2018

$126,082,950.66$117,674,308.52$157,421,395.06

$1,106,107.25$4,158,092.74

$142,558.29$406,585,412.52

$1,215,592.52

$336,605,365.75$65,632,908.57

$3,131,545.68$406,585,412.52

$10,637,667.00$2,037,637.00

$12,675,304.00

$6,486,348.00$2,024,972.00

$0.00$8,511,320.00

$4,163,984.00

ASSETS

CashInvestmentsLoansLandBuilding, Furniture, EquipmentOther Assets

Total Assets

LIABILITIES

Accounts Payable

MEMBERS’ EQUITY

Members’ Shares and CertificatesUndivided EarningsReserves

Total Liabilities

Income/Expense Statement

INCOME

Interest IncomeNon Interest Income

Total Income

EXPENSES

Operating ExpensesInterest ExpenseNCUSIF

Total Expenses

NET INCOME

2019 FINANCIAL REPORT STATEMENT OF FINANCIAL CONDITION

INCOME/EXPENSE STATEMENT

LOAN DISTRIBUTIONTOTAL ASSETS

$364,0

33,864

$383,38

6,028

$390,70

5,690

$40

1,271,929

$40

6,585,412

$415,310,4

87

2014 2015 2016 2017 2018 2019

74%AUTO

24%REAL ESTATE

2%PERSONAL

LOCATIONS—

MAIN OFFICE501 W. State Hwy 6

Waco, TX 76710254.776.7900

TSTC OFFICE

100 Bolling Dr. Waco, TX 76705

254.799.8946

HEWITT OFFICE501 N. Hewitt Dr.Hewitt, TX 76643

254.666.7711

LAKE SHORE OFFICE2400 W. Lake Shore Dr.

Waco, TX 76708254.752.1815

ROBINSON OFFICE641 N. Robinson Dr.Robinson, TX 76706

254.662.9595

GATESVILLE OFFICE306 S. Lovers Ln.

Gatesville, TX 76528254.865.8664

COPPERAS COVE OFFICE201 E. Robertson Ave.

Copperas Cove, TX 76522254.547.4411

TROJAN BRANCH at UHS3201 South New Road

Waco, TX 76706254.756.1843 ext. 2019

CREDIT COMMITTEE

REPORT

ECU strives to grant loans that are in our members’ best interest, with fair rates and flexible terms. In 2019 we approved 4,084 loans, totaling $94,766,218.45. ECU’s loan portfolio finished 2019 at $184,547,383, up over 17 percent from 2018. Our competitive loan rates and flexible terms are two factors which played a part in meeting our members borrowing needs. Your credit committee thanks the staff for their hard work and our members for the opportunity to serve you. We remain dedicated to protecting the safety and soundness of Educators Credit Union.

EDUCATORS CREDIT UNION

SERVICES

SAVINGS Regular Savings Youth Savings Certificates of Deposit IRAs

CHECKING Direct Choice Prime Choice/Club 55 College Choice Quality Choice Money Market

LOANS Auto Boat Recreational Vehicle Home Equity Signature (Personal) Mortgage Student

FINANCIAL SERVICES Investment Services Retirement Planning Income Solutions College Planning

CONVENIENCE SERVICES Online BankingOnline Bill PayMobile BankingeStatementsTelephone Banking Direct Deposit Payroll Deduction ATM/Debit Cards MasterCard® Credit Cards VISA® Gift Cards Safe Deposit Boxes

ADDITIONAL SERVICES Auto/Home/Life Insurance Accidental Death & Dismemberment Insurance Extended Warranty Mechanical Breakdown Coverage Guaranteed Asset Protection

20194,084 LOANS$94,766,218.45

800.596.5460 EDCU.COM EDUCATORSCUTX

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