Annual Report - Robins Financial Credit Union

2014
Annual Report
2014 Board of Directors
Annual Meeting Agenda
• Call to Order & Declaration of Quorum
• Invocation and Pledge of Allegiance
• Appointment of Parliamentarian
Edward C. Hilliard
James A. Kidd
John A. Jones
Chairman
Vice Chairman
Treasurer
• Chairman’s Welcome & Introductions
• Minutes of the Previous Meeting
• Video Presentation
• Message from the Chairman
• Message from the President/CEO
• Unfinished Business
Mary S. EdenfieldGibbs
Kenneth L. Babbitt
Jackie D. Cleghorn
Director
Director
Secretary
• New Business
• Election Update
• Prize Drawings
• Adjournment
Donald R. Hanson
Harold J. Sawyer
Michael D. Parker
Director
Director
Director
A Message from the
Chairman & President
We are excited to report that 2014 proved to be another strong year On behalf of our staff, management team and Board of Directors, I want
for Robins Federal Credit Union. It is because of you, our dedicated
to thank you for making us your trusted financial partner. Thank you for
members, that we are able to continue to grow and look for ways to
your membership and we look forward to continuing to serve you and
provide Better Banking for Everyone. Thank you for your continued
your family in 2015.
loyalty and trust.
Product and service enhancements were at the top of the list for 2014.
We updated and improved our Online Banking, Mobile Banking, and Bill Pay platforms, providing you with increased security, new features,
and self-service options. We would like to thank you for your patience during this conversion as we know these changes caused some inconvenience.
In 2015, our focus will continue to be on providing quality financial
products and services, great rates and helping you achieve financial
success. From our members to the community, we will continue to look for ways to make a difference in the lives of those we serve.
Edward C. Hilliard
John R. Rhea
Chairman
President/CEO
Serving Our Community
• In 2014, your credit union donated over $200,000 to 170 groups and
worthy initiatives.
• Robins Federal staff pledged over $41,000 to the United Way of Central
Georgia during our annual fundraising campaign.
• 50 care packages were prepared for troops deployed overseas during
the holidays and 45 care packages were created for Meals on Wheels to
deliver to clients on Christmas day along with a hot meal.
• For the 18th consecutive year, Robins Federal awarded 5 High School
Seniors with scholarships to college. Since it began, this program has
allowed us to invest over $270,000 in the future of our young members.
• Two blood drives for the American Red Cross we held, which helped
save over 180 lives.
• Over 140 employees participated in the American Cancer Society’s
Relay for Life and raised over $36,000.
• By hosting 8 Free Shred Day events, Robins Federal helped members
securely shred over 30 tons of paper.
• Our SWAG Patrol continued their mission to surprise people in the
community with random acts of kindness. From buying someone’s
groceries to paying for their gas, this program has invested close to
$12,000 through random acts of kindness.
Supervisory
Committee
Report
Robins Federal Credit Union’s financial reporting process is routinely
reviewed to verify our members’ best interests are being served. This
responsibility is held by the Supervisory Committee. We continuously
oversee the financial statements of the credit union and authenticate
internal controls and operations are in compliance with the National
Credit Union Administration.
Supervisory Committee
Don Jarzynka
Chairman
In 2014, CPA firm Nearman, Maynard, Vallez CPA & Consultants, P.A.
and federal examiners with the National Credit Union Administration
(NCUA) conducted outside audits. Both organizations reported that
Robins Federal Credit Union continues to be financially strong, stable
and extremely well-managed.
It is with great satisfaction to report that Robins Federal Credit Union
continues to hold the highest net worth rating given by the NCUA of
‘well-capitalized’. In addition, I am happy to note all members’ accounts
remain secure and insured up to at least $250,000 by the NCUA.
Barry Brown
The high standards and fiscal soundness of Robins Federal Credit
Union resulted in more than $8.5 million in dividends paid to members
in 2014. As we head into 2015, we are eager to maintain this kind of
service, security, and banking value to all our members.
Ken Babbitt
Statement of Financial Condition
ASSETS
Loans
20132014
$977,539,726.40
$1,064,839,451.91
Less: Allowance for Loan Loss
$(7,856,351.58)
$(8,374,073.77)
Cash
$15,906,505.04
$28,716,638.79
Investments
$749,835,086.75
$757,496,950.95
Fixed Assets
$24,679,542.65
$24,260,726.79
Other Assets
$73,144,638.70
$86,168,676.55
Total Assets
$1,833,249,147.96
$1,953,108,371.22
INCOME & NON-OPERATING
INCOME
Loan Interest Income
20132014
$45,611,598.16
$46,797,772.30
$9,797,998.96
$10,351,998.67
Other Income
$29,803,168.86
$32,671,335.13
Total Income
$85,212,765.98
$89,821,106.10
Investment Income
LIABILITES
EXPENSES
Member Deposits
$1,563,167,028.81
$1,634,974,402.35
Dividends Payable
$146,875.89
$143,057.05
Accounts Payable
$8,015,519.36
$9,486,846.22
Other Liabilities
$6,506,386.77
$8,290,459.59
Total Liabilities
$1,577,835,810.83
$1,652,894,765.21
MEMBERS’ EQUITY
Regular reserve
Undivided earnings/ other reserves
Equity Acquired in Merger
Total Member’s Equity
Total Liabilities & Members’ Equity
$12,679,007.52
$12,679,007.52
$242,734,329.61
$287,528,626.54
$0
$5,971.95
$255,413,337.13
$300,213,606.01
$1,833,249,147.96
$1,953,108,371.22
Dividend Expenses
$7,487,704.54
$8,546,979.25
Provision for Loan Loss
$4,054,204.43
$5,194,518.16
Employee Compensation and Benefits
$20,472,452.51
$21,613,045.92
Other Operating Expenses
$16,740,439.03
$18,150,857.88
$1,239,441.47
$0
Total Expenses
$49,994,241.98
$53,505,401.21
Net Income
$35,218,524.00
$36,315,704.89
152,748
159,049
NCUSIF assessment
Total Members
Historical Growth
DEPOSITS
ASSETS
2014
$1,634,974,402.35
2014
$1,953,108,371.22
2013
$1,563,167,028.81
2013
$1,833,249,147.96
2012
$1,487,841,953.74
2012
$1,741,519,796.30
2011
$1,369,401,234.92
2011
$1,592,252,120.21
LOANS
MEMBERS
2014
$1,064,839,451.91
2014
159,049
2013
$977,539,726.40
2013
152,748
2012
$882,943,132.85
2012
146,252
2011
$844,340,585.41
2011
140,372
2014 Highlights
2014 Highlights
• Member Deposits grew $71,807,373 or 4.59%
• Assets grew $119,859,223 or 6.54%
• Robins paid out over $8.5 million in dividends to members
• 25,621 loans were granted in 2014 totaling $456,097,465
• Loans increased by $87,299,725 or 8.93%
• Membership increased by 6,300
• 747 members received a new mortgage loan with balances
totaling $94,069,375
• Opened 15,915 new checking accounts
SIXTY ANNUAL MEETING
of the Membership
ROBINS FEDERAL CREDIT UNION
WARNER ROBINS, GEORGIA
CALL TO ORDER
The Sixtieth Annual Meeting of the members of Robins Federal Credit Union
was called to order by Chairman Johnny Jones at the Robins Federal Credit
Union Learning Center on March 13, 2014, at 6 p.m. Chairman Jones declared a quorum present.
Director Mike Parker offered the invocation and led the attendees in the
Pledge of Allegiance.
Chairman Jones appointed Kirby R. Moore as Parliamentarian for the meeting.
Chairman Jones welcomed all in attendance and introduced the following
Board of Directors: Ken Babbitt, Mary Edenfield-Gibbs, Jim Kidd, Jackie
Cleghorn, Dr. Mike Parker, Secretary Donald Hanson, Treasurer Ed Hilliard,
Vice-Chairman Harold Sawyer; Attorney Kirby Moore, Executive Office
Administrator Vickie Collins, and President/CEO John Rhea. APPROVAL OF MINUTES
Chairman Jones called for any changes to the minutes of the 2012 Annual
Meeting. There being none, the minutes were approved as presented.
ORDER OF BUSINESSS
CHAIRMAN’S MESSAGE
Chairman Jones introduced a video presentation of the 2013 highlights.
PRESIDENT’S MESSAGE
President Rhea reviewed the 2013 financial accomplishments of Robins
and presented the strategic goals for 2014. He also reviewed the financial
benefits that Robins provides to the members.
UNFINISHED BUSINESS
Chairman Jones called for any unfinished business. There was none.
NEW BUSINESS
Chairman Jones then called for any new business. Mr. Barry Smith requested the branches keep copies of old CU Bulletins for 6 months. Mr. Rhea referred the member to our Senior Management Team to
discuss this further at the end of the meeting. Mr. Richard Alexander
expressed his concern about the Perry Branch ATM being down when he tries to use it. Mr. Rhea referred the member to Mrs. Christina O’Brien
to review the details and help diagnose the problem.
ELECTION
Chairman Jones reported that the Nominating Committee submitted the
names Dr. Mike Parker, Jim Kidd, and Kenneth Babbitt for the 3 year term
vacancies. There were no nominations by petition. Therefore, those nominated by the committee were appointed.
PRIZE DRAWINGS
President Rhea announced that prize drawings totaling $3,800 in cash
would be given away and commenced with awarding the prizes as the
numbers were drawn.
ADJOURNMENT
Chairman Jones adjourned the meeting at 6:36 p.m. Johnny Jones
Donald Hanson
Chairman
Secretary
Branch Locations
Athens
McRae
2636 Atlanta Highway
10 Hunter Avenue
Byron
Milledgeville
233 Highway 49 (ATM only)
2584 North Columbia Street
Forsyth
Perry
76 East Johnston Street
321 Perry Parkway
Fort Valley
Robins Air Force Base
960 Bluebird Boulevard
Building 646 and 20166
Building 91 and 125 (ATM only)
Commissary Building 660 (ATM only)
Gray
287 West Clinton Street
Swainsboro
Macon
335 South Main Street
4245 Log Cabin Drive
4066 Hartley Bridge Road
5999 Zebulon Road
577 Mulberry Street, Suite 100
2930 Riverside Drive
3096 Riverside Drive (ATM only)
Warner Robins
803 Watson Boulevard
853 North Houston Road
502 South Houston Lake Road
901 Highway 96
104 Feagan Mill Road (ATM only)
www.robinsfcu.org
478.923.3773 • 800.241.2405
Federally insured by NCUA. Contact the credit union for membership details.