Annual Report - Trona Valley Federal Credit Union

A Letter from the Chairperson and President
We appreciate this opportunity to review significant events in the past year, and we would like to share some thoughts
regarding what is planned for 2013. Trona Valley Community Federal Credit Union certainly had a very successful year in
2012 in regards to our financial performance. We set the bar high and we always strive to improve the level of service we
provide. Opening in February 2013, the Foothill Branch in Rock Springs was a significant project for us in 2012. Taking an
old building and renovating it saved a considerable amount of money. This new facility is now a nice and welcoming branch
for members. We are very pleased with the results and we have received positive feedback in a short period of time. A new
branch means job creation for new employees. And in our case, the new branch also meant positive internal changes with
existing employees, not to mention extensive training. In our Evanston Branch, building enhancements were made to
accommodate growth in that area to include eliminating the “traditional” teller line and opening “teller pods” that are member
inter-active. This new concept for the teller line was replicated at the new Foothill Branch.
Technological advances keep us busy and our online applications are improving. We launched Phase I of an application
known as Opening Act allowing people to open accounts online. We also added a convenient “Vehicle Buying Tool” on our
website, TronaValley.com, where you will be pleasantly surprised. You can search and compare values of new and used
vehicles and see what our local dealers have available for you. Check it out – you’ll have fun. Mobile banking is here to stay
and you can now watch your Trona Valley account with your Smartphone.
Another success for 2012 includes the approval of our field of membership expansion from the National Credit Union
Administration into surrounding counties: Carbon and Teton Counties in Wyoming and Daggett, Summit, Rich, and Morgan
Counties in Utah. Our presence in these areas will grow and we look forward to reaching out to serve new members.
As we enter 2013, we are optimistic for what’s in store for us and our progress to move forward. This year we will see
continued efforts to offer new products and new applications for mobile banking such as Remote Deposit Capture where
members can deposit checks from Smartphones. In addition, members will soon have the ability to complete loans online,
which is Phase II of Opening Act.
In closing, know that all of us at Trona Valley Federal Credit Union consider it an honor and privilege to be your financial
institution. We appreciate your loyalty and continued support.
Janet Montz, Chairperson
Marsha Tynsky, CEO
Annual Meeting — Wednesday, April 17, 2013
Foothill Branch, 5:30 PM
Financial Statements—December 2012 Balance Sheet
Loans
$
114,031,000
Allowance for Loan Loss
$
(2,260,000)
Net Loans
$
111,771,000
Investments
$
Other Assets
$
Total Assets
$
Checking Accounts
$
26,559,000
Share Accounts
$
45,257,000
Money Market Accounts
$
12,405,000
15,774,000
Certificates
$
45,351,000
17,063,000
Other Liabilities
$
(575,000)
Net Worth
$
15,611,000
Total Assets
$
144,608,000
144,608,000
Treasurer’s Report
Trona Valley Federal Credit Union ended the year very strong with net worth increasing by 16.86% in 2012, up from
$13,358,740 to $15,611,000; the resulting capital ratio was 10.80%. Total deposits increased to $129,572,000 from
$126,352,000 in 2011, a 2.55% gain. The increase in total loans is a good indication that members are finding value in
our credit union. Loans increased from $107,486,710 to $114,031,000. In terms of auto loans, they continue to rise
in the “used” category while the “new” auto loans remain the same. Used car loans increased from $45,603,054 to
$51,981,042. Trona Valley Community Federal Credit Union’s asset size is $144,608,000.
Just as we are desperately seeking signs of spring in Wyoming, economic observers continue to hunt for trends of optimism for
2013. Rather than searching for good news, it’s easier to create your own. During 2013, Trona Valley will continue to focus
on outstanding service and convenience for our members. We will remain focused on the latest advances in technology
and security for our members’ protection.
Loan Distribution
Share Secured 1%
Other 14%
$1,219,263
$15,898,000
Home Equity 4%
$144,608,000
$133,465,624
2010
2012
$123,000,000
2009
$139,378,792
$117,882,000
2008
2011
$122,500,000
For 50 years, Trona Valley has been committed to service and
excellence, while enhancing the financial well -being of
our members. On behalf of the entire organization, thank you
for your trust and confidence in us over the years.
Dan Stanton, Treasurer
Asset Growth
2007
While we focus in these areas, we are diligent about keeping
expenses to a minimum in order to provide you with the best
possible dividends. W e h o p e 2 0 1 3 w i l l b e g i n to show
progress in interest rates. The board of Trona Valley is just as
frustrated as you are about these low interest rates. We hold
the best interests of our members in high regard and will
continue to be competitive – if not better than most.
Equity Distribution
New Vehicle 20%
Certificates 35%
$23,344,136
$45,351,000
Shares 35%
$45,257,000
$4,307,466
Real Estate 15%
$17,280,899
Used Vehicle 46%
$51,981,042
Money Market Accounts
Checking Accounts 20%
10%, $12,405,000
$26,559,000
50 Year History
Supervisory Report
Trona Valley Federal Credit Union is moving forward and staying strong.
The timeline below shows some significant events over the last 50 years.
Th e Super visor y Com mittee indepe ndentl y
evaluates the soundness of Trona Valley Federal Credit
Union’s operations and activiti es, ens uring that
management imple me n t s sound internal controls
and m a i n t a i ns p r a c t i c e s a n d p r o c e d u r e s t h a t
adhere to accepted general accounting principles.
In doing so, they carry out the following primary
responsibilities:
September 1962—Stauffer Big Island Federal Credit Union opens
July 1963—FMC Employee’s Federal Credit Union opens
Moving Forward
Staying Strong
1988—FMC Employee’s FCU moves to Green River on Flaming
Gorge Way
1989—Stauffer Big Island FCU merges with FMC Employee’s
FCU; Assets = $12.2M; Members = 6,000



Protection of members funds and interests

Reliability of financial records
Safeguarding of assets
Compliance with regulations, policies and
procedures
The Committee meets regularly with our Internal
Auditor, Scott Sager, t o r e v i e w a n d d i s c u s s
i n t e rn a l c o ntrols as well as auditing matters. It
also retains an independent accounting firm to
perform an annual financial a u d i t a n d i s s u e
c e r t i f i e d f i n ancial statements as they relate to
the overall financial condition of the credit union.
Based on the results of the 2012 annual audit
performed by certified public accountants Ferrin and
Company LLC, we conclude that Trona Valley has
adequate financial control and is financially sound. If
you have any questions or concerns, please contact
the Committee by formally writing and mailing to
Trona Valley FCU, Attn: The Supervisory Committee,
840 Hitching Post, Green River, WY, 82935, or by
informally contacting any Committee Member.
Lollie Lebario, Chairperson
Kelly Brink
March 1991—Credit Union purchases old Liquor Bank building in Green
River and becomes Trona Valley Federal Credit Union
May 1993—Rock Springs Branch in the U.S. Tech Building on
May 1995—Purchased land at Gateway and
March 1998—Moved into the new Green River
building
2000—Received Community Charter approval from NCUA for 4
counties; Evanston Branch in Jubilee store opens; Assets = 45.5M;
Members = 9,700
September 2003—Rock Springs Gateway new office building opens
December 2005—Evanston new office opens
2012—Marsha Tynsky, CEO, celebrates 36th Year
Anniversary; Received Community Charter for expansion
approval from NCUA for 6 more counties
2013—Foothill Branch opened; Assets = $142.5M;
Members = 18,000
Dan Stanton
Drew Varley
John Pawleska Retires
Imagine your credit union serving members for years
to come because of the safe and sound industry
standards implemented here at Trona Valley Federal
Credit Union. As a Board member for the past 30
years, I am more than happy to share good news
about your credit union. Their successful business
model is one that many credit unions across the
country try to replicate. Their continued financial
growth and strength is a testament to the loyalty and
support that members have shown during the past 50
years. I have had the pleasure to volunteer my time
and work with a wonderful group of individuals who
are dedicated and committed to Trona Valley Federal
Credit Union. Equally devoted are the Committee
Members who volunteer their services. Volunteer
work is not for everyone, but for those who choose
this path, the experience is so rewarding. After 30
years, I am stepping down, opening an opportunity
for someone else, and I am positive that with your
continued support we will all benefit. Let’s all watch
the membership grow and see it remain strong for
many years to come. Be assured that your credit
union is rock solid. Thank you.
John Pawleska
Credit Union
House of Hall Leaders
Marsha Tynsky, CEO of Trona Valley Federal Credit
Union, was inducted into the Credit Union House Hall of
Leaders on March 4, 2013 in Washington D.C. This is
one of the highest achievement awards for Credit
Union leaders.
The
to provide lasting recognition at the
Capitol Hill facility for a distinguished group of
individuals whose leadership serves as a model for
credit union leaders. This award is given to those who
have shown commitment that inspires others in the
credit union movement.
Mission Statement
Trona Valley Federal Credit Union is committed to being your financial institution of choice, serving you the credit
union way.
Board of Directors
Janet Montz, Chairperson
Brenda Roosa, Vice Chairperson
Dan Stanton, Treasurer
Larry Hell, Secretary
John Pawleska, Board Member
Barb VanMatre, Board Member
Bob Nelson, Board Member
Back row (L-R): John Pawleska, Barb VanMatre, Janet Montz,
Larry Hell; Front row (L-R): Bob Nelson, Brenda Roosa
Not pictured: Dan Stanton
Green River Main Branch
840 Hitching Post Dr.
Green River, WY 82935
P/ 307-875-9800
F/ 307-875-5551
Evanston Branch Office
236 Harrison Dr.
Evanston, WY 82930
P/ 307-789-3900
F/ 307-789-3939
Rock Springs Branch Office
85 Gateway Blvd.
Rock Springs, WY 82901
P/ 307-362-7773
F/ 307-362-4600
Rock Springs Branch Office
2640 Foothill Blvd.
Rock Springs, WY 82901
P/ 307-382-2968
F/ 307-382-2989
Management Team
TronaValley.com
Back row (L-R): Deli Frantzen, Jennifer Cuthbertson,
Stephanie Riddle, Jeremy Gibson, Melanie Hutchison, Lisa Banks,
Linda Fusselman; Front row: Marsha Tynsky
Access to thousands of surcharge-free ATMs nationwide.
Federally Insured by NCUA