TODAY. TOMORROW. TOGETHER.

TODAY.
TOMORROW.
TOGETHER.
2015 A n n uA l R e p o R t
tABle oF CoNteNtS
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todAy. tomorrow. together.
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ACComPliShmeNtS
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FoCUS
StABility
FiNANCiAlS
CommUNity
In 2015, we concentrated our eforts on improving the
inancial health of each and every SACU member. Our
commitment to this goal translates to activities on a
number of fronts.
The Board of Directors keeps moving forward
As we plan for tomorrow, we’re excited to
in exploring our foundational values at a deeper
introduce new technology like video conferencing
level. This work helps us stay focused on our
to better serve our members, and we’re working
mission of serving our members, particularly those
on compelling new products like an affordable
of modest means, in practical, relevant ways that
alternative to costly short-term payday loans.
make a difference.
This report provides an overview of our 2015
SACU’s dedication to the inancial success of
accomplishments that beneit members today, shines
our members includes helping them become
a light on new capabilities they can take advantage
responsible savers, protecting them with chip
of tomorrow and reviews the stability that allows us
card technology and offering Apple Pay, a mobile
to move into the future together with conidence.
payment service that lets members use their Apple
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leAderShiP
devices to make purchases.
We remain quite active in representing our
members’ interests in Washington, DC. SACU’s
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BUSiNeSS oPerAtioNS
legislative visits are crucial in supporting our credit
union charter and maintaining our not-for-proit
status so we can continue to help members of all
income levels.
SAN ANTONIO FEDERAL CREDIT UNION 2015 ANNUAl rePort
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ACCOMPLISHMENTS
AS WE MOVE FORWARD
TOGETHER, WE WANT
TO MAKE THE SACU
MEMBER EXPERIENCE
SIMPLE, CONVENIENT
AND REWARDING.
To that end, 2015 brought new and continuing
organization dedicated to helping our members
2016. When using this technology, SACU members
improvements that beneit our members and help
get out of debt and improve their credit ratings. It
will continue to receive all the rewards, beneits and
keep their SACU transactions safe and secure.
also helps members work toward bigger goals like
protections their card provides.
Helping our members manage their inances
and become responsible savers is a priority
home ownership, saving for college and preparing
for retirement.
Testing of an NCR Interactive Teller Machine
(ITM) started in 2015. Members on the UTSA
for SACU. eMoney Manager, a free inancial
To further secure member transactions while
campus were the inaugural group trying out the
management tool available in online and mobile
shopping, we introduced chip card technology
technology. ITMs give members a choice of
banking, is one way members can keep track of their
for debit and credit cards. This was a signiicant
self-service or personalized remote service through
spending and saving.
initiative in 2015. Members began receiving their
video. SACU employees facilitated the transition
new chip cards in the irst quarter of 2016.
by explaining the services in an on-campus setting.
with GreenPath, a proactive inancial counseling
Apple Pay, a mobile wallet layer that lets members
Also in 2015, we continued our new market
and education service provider. GreenPath is
use their compatible Apple devices when buying
expansion into East Texas. We teamed with a new
the second largest Consumer Credit Counseling
from participating merchants, was launched for
car dealership in Beaumont to offer SACU members
Service provider in the country. It is a nonproit
debit cards in 2015; credit cards launched in early
a larger selection of new and used cars.
For members who need more help we partnered
richard rodriguez
Chair, Board of Directors
Member Since 1973
Volunteer Since 1993
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SAN ANTONIO FEDERAL CREDIT UNION 2015 ANNUAl rePort
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This year, SACU helped members with 32,860
new loans totaling more than $860 million, and we
had a net income of greater than $8 million. This
allowed us to reinvest those funds to keep rates
and fees low while creating innovative, relevant
products and services for our members’ needs.
The SACU Board of Directors and I thank you, our
members, for your faithfulness and your support as
we close out another successful, inancially strong
year. 2015 moved us forward so together we can
prepare for and enjoy a bright, lourishing 2016
and beyond.
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SAN ANTONIO FEDERAL CREDIT UNION 2015 ANNUAl rePort
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FOCUS
AT SACU, OUR FOCUS IS
ON MEETING OUR
MEMBERS’ NEEDS, NOW
AND IN THE FUTURE.
That’s why the Board asked us to charter a
For more than two years, SACU collaborated
otherwise may have to make ends meet with
“Mission of the Future” team to clearly deine our
with energy companies, manufacturers, retailers
costly payday loans. This alternative to mainstream
mission to promote thrift and create a source of
and Next Step, a nonproit agency that helps
payday lending practices will save members money
credit for provident purposes to improve the lives
homeowners ind affordable inancing for
and beneit the communities we serve. We will
of our members, especially those of modest means.
energy-eficient manufactured homes.
announce the launch of this exciting new product
The anticipated opening of a new branch
This pilot offers a unique opportunity for low-
in Southtown expands our ability to serve
to-moderate income families with excessive
our members in the community. Here, we’ll
energy costs. The program’s goal is to increase the
be introducing new technologies to ensure
production of energy-eficient, Energy Star® rated
personalized service that’s eficient and convenient
manufactured homes in Kentucky from one percent
for every member.
to 50 percent within two years. If successful, the
Our manufactured housing division participated
program will be expanded throughout the country.
in the launch of a pilot program in Kentucky called
We are currently creating our own version of a
Smart MH (Smart Manufactured Housing).
Payday Alternative Loan to help members who
sm
in the near future.
Steve hennigan
President and CEO
Member Since 1993
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SAN ANTONIO FEDERAL CREDIT UNION 2015 ANNUAl rePort
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STABILITY
SOUND MANAGEMENT
PRACTICES AND SOLID
REPORTING OFFER
SACU MEMBERS THE
CONFIDENCE OF KNOWING
THEY ARE TEAMED
WITH A STRONG, STABLE
FINANCIAL COOPERATIVE.
We are committed to joining together to help our
union’s regulatory compliance. The National Credit
member accounts, which fulilled the committee’s
members experience inancial success and iscal
Union Administration (NCUA) is the credit union’s
requirements in full.
sustainability today and tomorrow.
regulatory authority which insures members’
The SACU Supervisory Committee ensures that
deposits to at least $250,000.
The committee is pleased to report that, once
again, SACU is in compliance with the credit
management’s inancial reporting objectives are
During 2015, NCUA completed a successful
union’s bylaws, policies, federal and state laws and
met. This includes maintaining internal controls,
examination of the credit union, indicating sound
good business practices. I would like to thank my
policies, reports and records. The committee
performance and risk management practices
fellow committee members for their diligence and
also guarantees that management practices and
relative to the credit union’s size, complexity
commitment. On behalf of the entire committee,
procedures protect the assets of SACU members.
and risk proile.
we thank you for your loyal membership. It is our
To help the committee fulill its duties, SACU’s
In accordance with NCUA rules and regulations,
Internal Audit and Corporate Compliance
the Supervisory Committee hired the independent
Assurance departments assisted with activities such
accounting irm of Padgett, Stratemann and Co.,
as overseeing periodic audits of internal controls
LLP. This company performed the 2015 inancial
and safeguards, and guaranteeing the credit
statement audit and completed a veriication of
privilege to serve you.
Peter C. morales
Chair, Supervisory Committee
Member Since 1992
Volunteer Since 2006
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SAN ANTONIO FEDERAL CREDIT UNION 2015 ANNUAl rePort
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FINANCIALS
BUSINESS ACTIVITY
Loans
December 31, 2015
#
December 31, 2014
$000
#
1,008,702
52,554
5,320
224,431
6,950
284,355
education - insured
71,200
340,811
73,610
334,376
Manufactured housing
20,650
968,526
19,646
902,832
Credit cards
15,769
45,840
20,408
60,505
other loans
16,410
41,619
16,411
36,327
180,983
2,629,929
189,579
2,611,240
Motor vehicle
Residential mortgages
total
51,634
$
Allowance for loan losses
$
(12,444)
loAns, net
Year-to-date production
$000
$
32,860
992,845
(13,591)
2,617,485
$
860,207
34,908
2,597,649
828,370
Total loans increased $18,689,000 (.72%) from December 2014 to December 2015.
Deposits
December 31, 2015
#
share accounts
242,960
$
December 31, 2014
$000
#
456,898
246,291
$000
$
399,888
Checking accounts
77,781
338,225
77,289
300,560
Money market accounts
11,431
489,137
12,524
527,988
Retirement accounts
12,888
166,796
13,660
171,175
share certiicate accounts
19,138
634,686
20,063
673,432
2,085,742
369,827
totAl deposits
364,198
$
$
2,073,043
Total deposits increased $12,699,000 (.61%) from December 2014 to December 2015.
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SAN ANTONIO FEDERAL CREDIT UNION 2015 ANNUAl rePort
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sAn Antonio FedeRAl CRedit union And suBsidiARY
CONSOLIDATED STATEMENTS OF CONDITION
sAn Antonio FedeRAl CRedit union And suBsidiARY
CONSOLIDATED STATEMENTS OF EARNINGS
(In Thousands of Dollars)
(In Thousands of Dollars)
ASSETS
Cash and cash equivalents
December 31, 2015
$
investments
loans, net of allowance for losses
premises and equipment, net
other real estate, net of
allowance for losses
other assets
totAl Assets
$
122,261
December 31, 2014
$
99,423
10,148
11,095
2,617,485
2,597,649
15,596
17,130
636
1,112
35,646
34,633
2,801,772
$
2,761,042
LIABILITIES AND EQUITY
Members’ shares and deposits
$
Borrowed funds
2,085,742
$
337,778
59,111
54,836
2,498,144
2,465,657
Retained earnings
342,953
334,532
Accumulated other
comprehensive income (loss)
(39,325)
(39,147)
totAl equitY
303,628
295,385
totAl liABilities
totAl liABilities
And equitY
December 31, 2015
interest income
interest expense
2,801,772
$
$
131,727
29,453
100,641
102,274
8,980
7,866
net inteRest MARgin AFteR
pRovision FoR loAn loss
91,661
94,408
non-interest income
20,825
21,085
non-interest expense
104,065
97,233
net inteRest inCoMe
provision for loan loss
net inCoMe
2,761,042
$
8,421
$
18,260
OPERATIONS REPORT
2015
2014
91,289
98,810
36,565,114
36,227,031
5,037,253
5,641,744
379,884
392,672
Member checks processed
1,900,189
2,116,675
Mobile app logins
4,848,415
3,990,614
Full-time employees
678
635
part-time employees
2
19
680
654
phonelink transactions
AtM/debit card transactions
online banking logins
total sACu employees as of 12/31
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128,028
27,387
Member service center calls
$
$
December 31, 2014
2,073,043
353,291
Accrued expenses and other liabilities
FoR tHe YeARs ended
SAN ANTONIO FEDERAL CREDIT UNION 2015 ANNUAl rePort
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COMMUNITY
STRENGTHENING THE COMMUNITIES WE SERVE IS A
SIGNIFICANT PART OF WHO WE ARE.
In 2015, the SACU membership and local
communities experienced new growth as we
maintained strong partnerships with other
community-minded organizations.
Once again, we partnered with UTSA and the
Silver & Black Give Back to strengthen our
community ties. We also promoted and furthered
our passion for learning and innovation in education
by co-sponsoring the ExCEL Award with KENS 5.
And for more than two decades, we have fortiied
our community ties across the nation by supporting
United Way’s nonproit organizations that
provide inancial literacy and education programs
throughout the U.S.
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SAN ANTONIO FEDERAL CREDIT UNION 2015 ANNUAl rePort
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CommUNity
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1. Stephanie Blackmon, a 2015-2016 ExCEL award winner, in action in
her classroom.
2. 2014-2015 ExCEL winners gather at the end of the year celebration
banquet in San Antonio.
3. SACU’s Team Red at the annual UTSA Diploma Dash, which beneits
Alumni Association Scholarships.
4. Board members Richard Rodriguez and Frank Burk presenting check
to Silver & Black Give Back during halftime. The check represents
proceeds from calendar sales at SACU branches.
5. Colonial Hills Elementary students (Colonial Hills Giving Back),
winners of the Team Up Challenge, being presented with a check for
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$20,000. They will use their grand prize to provide fun, educational
events for students and the local community.
6. Employees in Greensboro, NC collected items for the 16 cent ministry,
an organization that meets under a local bridge to provide hot meals,
fellowship and items beneicial to the homeless community.
7. Employees in Federal Way, WA assemble boxes for operation
Christmas Child.
8. In Burlington, VT employees volunteer at the Burlington American
Little League Green Up Day ield prep.
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SAN ANTONIO FEDERAL CREDIT UNION 2015 ANNUAl rePort
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BOARD OF DIRECTORS
Richard Rodriguez
Chair
sue e. turner
Vice Chair
Ramon Abarca
Secretary
Franklin W. Burk
Treasurer
Member Since 1973
Volunteer Since 1993
Member Since 1994
Volunteer Since 1996
Member Since 2005
Volunteer Since 2008
Member Since 1991
Volunteer Since 1991
Blaise C. Bender
Frederick W. Hines
deborah J. McCrary
larry l. Roberson
david s. velasquez
Member Since 2008
Volunteer Since 2008
Member Since 2013
Volunteer Since 2014
Member Since 1977
Volunteer Since 1995
Member Since 2008
Volunteer Since 2008
Member Since 1975
Volunteer Since 2000
SUPERVISORY COMMITTEE
peter C. Morales
Chair
sandra J. geppert
Secretary
Member Since 1992
Volunteer Since 2006
Member Since 1969
Volunteer Since 2011
William R. Micale
steven R. nivin
Member Since 2014
Volunteer Since 2014
Member Since 2013
Volunteer Since 2015
ASSOCIATE DIRECTORS
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DIRECTOR EMERITUS
Michael Burnett
g. esther Cruz
patricia Harper-pollard
pat Wilson
Member Since 2012
Volunteer Since 2015
Member Since 2006
Volunteer Since 2015
Member Since 2015
Volunteer Since 2015
Member Since 1978
Volunteer Since 1998
SAN ANTONIO FEDERAL CREDIT UNION 2015 ANNUAl rePort
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SAN ANtoNio FederAl Credit UNioN
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