Your Financial





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Annual Meeting

July 25, 2019

Board of Directors

Chair Report

Today is a celebration for the credit union, both for its 50 years of service and its new name. Without you, our members, we wouldn’t be here. On behalf of the board of directors, I want to express our sincere gratitude for your loyal support and want you to know that we are proud to serve you.

I’d like to briefly “take a walk down memory lane”. I went to work for Presbyterian Hospital of Dallas, 47 years ago and if someone would have suggested I’d be standing before you today, I wouldn’t have had a clue what they were talking about. I wasn’t familiar with credit unions, and had always done business at banks and savings and loans. The personnel director (that’s what they were called then) told me about the hospital’s credit union and so I joined. I became an advocate for the credit union, attending new employee orientation, presenting information and handing out applications and encouraging new employees to open an account.

Fast forward to 1980 and along came Suzanne Chism, who not by design, landed in the position of President/CEO of the credit union. Suzanne has led this credit union through economical good times, and bad times, industry changes, system changes, new regulations and the ever-present competition (i.e. auto dealerships, banks, other credit unions). Because of her vision and commitment to this membership and the financial viability of the credit union, the credit union has been able to grow its services. Suzanne has, and does, serve on the Cornerstone League board of directors for Texas, Arkansas and Oklahoma, serves on the committee for small credit unions, chairs the Texas Cornerstone Credit Union PAC and for several years has gone to Washington to meet with legislators to promote credit unions. I say all of this to make you aware that she, and the board, has a broad scope of responsibility.

While the board of directors is responsible for the general direction and control of the affairs for the credit union, we delegate the execution of operational functions to management, however, the ultimate responsibility for the direction and control of the credit union success remains with the board. We do not take our responsibility lightly. Just as management and staff, are required to have on-going training and education, so does the board. We are required to meet certain CEU standards every year, must know and abide by current rules, regulations and compliance, as it relates to board members.

At the end of the day, we are here for the sole purpose of providing oversight, direction and control of the affairs of the credit union and help safeguard your financial needs.

Thank you, again, for your loyal support of this credit union.

Respectfully Submitted.

Shyrl Johnston, Chair

Board of Directors

A New Direction Credit Union

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President’s Report


It is my pleasure to address you and celebrate the 50th Anniversary of this credit union. We have had many names over the years but we are still the same people, serving the original field of membership and the expanded health care group it has become. WOW, what a ride through many changes but we all know the only constant in life is change. If we don’t change to meet the needs of those we serve, we are not meeting our goal to provide quality financial services and products.

Membership means you are a member-owner of this credit union and why you elect the board. They are not paid like bank board members. They are volunteers with a servant heart.

The name change has been a long process and we are finally having the signs put up soon. They are being made at this time. There have been questions about why we changed the name. Texas Health initiated the change by stating that we were not to use the name or logo any longer. Some of the inconveniences created were the loan payments now go to savings instead of directly to the loan. We are working to improve the process.  The staff and I are thankful to all of you for your loyalty and use of the services we offer.

If you are not familiar with what we offer, please check out our website. I also want to remind you that we have several things that can make your life easier. A few of them are Card Valet app., an online app to access your accounts and deposit checks without coming to the office and we will soon have the ATM replaced with a new one. We have safe deposit boxes. I also want you to be aware of the CO-OP Shared Branch network that we offer. This credit union was the first to offer it in the state of Texas from within our offices.

The last year has not been without its stress but I am proud of the staff for hanging in for the sake of the members and the board in supporting the changes we have had to go through. As we move forward, we need continued support and ideas of what you want your credit union to be like. We can’t do all things but we can consider things and evaluate the potential of it being a win win for both the members and the credit union.

There is something you can do for your credit union! The best advertisement is a happy and satisfied member sharing the services and benefits of the credit union.

Thank you from the bottom of my heart for you are the reason we have achieved a 50 Year anniversary. May the future be kind to all of us and you be blessed in all your days.





Financial Strength

                                                                                                2018                            2017

Total Assets                                                                 $16,673,561                $19,190,346

Total Members                                                                       3,436                           3,693

Total Gross Loans                                                          $9,633,291               $11,250,705

Total Net Worth                                                             $1,358,143                  $1,487,657

Net Worth/Assets                                                                   8.12%                          7.75%

        Year-End Loan Totals                         

                                                                                                2018                            2017

Number of New Loans Booked                                                 187                              309

Dollars of New Loans Booked                                       $2,104,963                  $3,220,373

Comparative Statement of Condition 

                                                                                                2018                            2017


Loans                                                                              $9,485,742               $11,123,358

Cash and Other Investments                                        $7,053,050                 $7,926,258

Accounts Receivable                                                        $126,988                    $109,004

Fixed Assets/Leasehold Improvements                              $7,780                      $31,725

Total                                                                              $16,673,560               $19,190,345


Liabilities                                                                            $162,616                    $171,891

Deposits                                                                        $15,198,801              $17,530,796

Reserves                                                                            $738,741                     $738,741

Undivided Earnings                                                          $573,402                     $748,917

Total                                                                              $16,673,560              $19,190,345

Comparative Statement of Operations 

                                                                                                2018                            2017

Total Operating Income                                                 $1,160,478                  $1,242,829

Less Operating Expenses                                               $1,289,992                  $1,237,658

Non-Operating Income/Expense                                                $0                                 $0

Gain(Loss) Disposal Fixed Asset                                                 $0                                  $0

Less Dividend Expense                                                               $0                                  $0

Net Operating Gain/(Loss)                                                ($129,514)                        $5,171