Financial Reports

2017 Annual Meeting Booklet

2017 Annual Meeting Booklet

Statement of Financial Condition
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
Statement of Income and Expense
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
Agenda
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

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