2017 Annual Meeting Booklet
2017 Annual Meeting Booklet
| Assets | 2015 | 2016 |
|---|---|---|
| Loans to Members | $16,900,711 | 15,900,283 |
| Cash and Investments | 6,382,958 | 6,457,616 |
| Prepaid Assets | 38,074 | 31,048 |
| Fixed Assets | 2,303,948 | 2,217,479 |
| Other Assets | 363,921 | 363,921 |
| Less: ALLL | (62,272) | (127,614) |
| Total Assets | $25,927,340 | 24,759,939 |
| LIABILITIES | 2015 | 2015 |
| Accounts Payable | $57,926 | 39,967 |
| Taxes Payable | 767 | 14,693 |
| Regular Shares | 10,463,839 | 11,399,842 |
| Holiday Club | 7,262 | 8,104.73 |
| Share Drafts (Checking) | 1,427,510 | 1,643,509 |
| IRA Certificates | 5,510,801 | 3,518,666 |
| Certificates of Deposit | 3,613,461 | 3,228,463 |
| Total Liabilities | $21,081,566 | 19,798,586 |
| EQUITY | 2015 | 2016 |
| Total Reserves | 3,273,319 | 3,273,319 |
| Undivided Earnings | 1,567,938 | 1,644,267 |
| Unrealized Gain | 4,518 | (10,893) |
| Total Equity | 4,845,775 | 4,888,894 |
| Total Liabilities & Equity | $25,927,340 | 24,759,939 |
| Income | 2015 | 2016 |
|---|---|---|
| Interest on Loans | 1,180,789 | 1,102,504 |
| Income from Investments | 68,882 | 62,829 |
| Other Income | 318,849 | 304,397 |
| Net Operating Income | $ 1,568,520 | 1,469,730 |
| EXPENSES | 2015 | 2016 |
| Operating Expenses | 1,424,627 | 1,225,507 |
| Dividends Paid on Member Accounts | 78,468 | 67,580 |
| Interest Paid on Loan | 290 | -0- |
| Provision for Loan Loss | 60,300 | 101,663 |
| Total Expenses | $ 1,563,685 | 1,394,750 |
| Net Gain/(Loss) | (3,775) | 1,349 |
| Net Income/(Loss) | $1,060 | 76,329 |
| TOTAL MEMBERS | 2,433 | 2,305 |
| Welcome | Eddie Williams Board Vice Chairman |
| Pledge of Allegiance | Rosa Peterson St. Francisville Branch Manager |
| Musical Selection | The New Band |
| FFCU employee Loyce Smith, Tim Manes, Roy Mista, Gary Penouilh, James Smith & Paul Taylor | |
| Invocation | Wilbert Scott Finance Officer |
| Call to Order | Harold Henderson Board Chairman |
| Minutes from 2016 Annual Meeting | Brenda Jones Board Secretary |
| Service Award Presentations | Gigi Robertson PresidentHarold Henderson Board Chairman |
| 10 years …………………………Regina Moore 2 years ………………………Troy Jackson | |
| Musical Selection | Isaiah Robertson Son of Gigi Robertson |
| Credit Union Highlights | Harold Henderson Board Chairman |
| Directors Elected by Acclamation (3-year term) Ruby Givens Eddie Williams Troy Jackson | |
| Cash Drawings | Ruby Givens Director |
| Closing Prayer | Paul Kershaw Director |
| Adjournment | Harold Henderson Board Chairman |
| Refreshments: Bag Lunch’s to Go Catering by Chef’s to Go |
Minutes of 2016 Annual Meeting
Feliciana Federal Credit Union held its 56th Annual Membership Meeting on Saturday, April 23, 2016 at the St. Francisville Branch at 10:00 am. Give-a-ways and an opportunity to win cash via ticket drawings were available to all members. Entertainment was provided by Taylor Harless and Isaiah Robertson. Taylor is a graduating senior of Zachary High School, the daughter of Brandie Guerin, and Granddaughter of Carol and Ray Mayeux. Isaiah Robertson is a 7th grade student at Northwestern Middle School and is the son of the late Oscar Robertson-Jr and Gigi T. Robertson.
Chairman Harold Henderson, Vice-President Kathy Kane and Branch Manager Rosa Peterson presented service awards to the following employees: Patricia Rainey – 5 years (part-time); Cynthia Snowden – 10 years and Gigi T. Robertson- 25 years. A resolution was presented and read in memory of Oscar Robertson –Jr for his support and unwavering dedication to FFCU and the credit union movement in general. Gigi dedicated her service award to her husband of 20 plus years, stating that she would have never married Oscar had she not been introduced to him by his father Oscar Robertson-Sr while working at Feliciana Federal Credit Union (formerly Cee Zee Employees Credit Union in 1993).
Directors re-elected by acclamation for a 3-year term were Jerry Eggert, Harold Henderson and Paul Kershaw. Director Troy Jackson was re-elected by acclamation for a 1- year term to complete the unexpired term of Mrs. Marsha Noland.
After the meeting was adjourned refreshments were served to all in attendance.
Harold Henderson
Chairman
Brenda Jones
Secretary
Download the 2017 Annual Meeting Booklet in PDF format.
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