Annual report t elhio.org - PowerPoint Presentation

Annualreport telhio.org 16 1

Mission and Vision Our Focus Service to Members Member Education Involvement in Government Diversity Commitment to the Credit Union Movement Public Service and Corporate Citizenship Our Statement of Commitment Since 1934, Telhio has been a strong financial institution and has served its members and its community by promoting financial accessibility through extraordinary service and innovative financial solutions. 

A word from the CEO Leslie Bumgarner President/CEO In 2016, Telhio Credit Union became the fifth-largest credit union in the state with 72,230 members, $802 million in assets, 12 branches and 220 employees. Our cooperative has added 25,770 new members and $178.6 million in assets in a merger with Chaco Credit Union. We are committed to providing individuals in Ohio who value credit union membership a high level of member service, while also ensuring that they have access to the latest technology and financial services available to larger financial institutions. BOARD OF DIRECTORS The Telhio Credit Union Board of Directors is elected by the membership to advocate on their behalf and set the strategic direction of our credit union. Board members are a dedicated group of volunteers who review financials, approve policy, and create the vision for the future. Learn more on our website at telhio.org. In 2016, Telhio Credit Union continued its commitment to the community by way of the Telhio Challenge.  Telhio is happy to report that we have contributed $124,000 through the Telhio Challenge as of year-end 2016. The Telhio Credit Union Board of Directors know that a credit union of our size comes with great responsibility.  As a merger with Chaco Credit Union in 2016 has solidified Telhio’s position as the fifth-largest credit union in the state of Ohio, the accountability for Telhio to offer better products and services becomes that much greater.  The merger affords the credit union a continued strength, allowing Telhio to offer services to a larger demographic of members who need them. I’m honored to serve as your board chair, and wish to thank you, our members, for continuing to believe in banking with Telhio.  - Douglas McDowell Chairman of the board

Financial Overview Letter from the treasurer 802 $ M ILLION Total assets 72,230 Total members Fiscal year 2016 showed a continued new member and new loan growth for Telhio, including the addition of more than 20,000 members via a merger with Chaco Credit Union. The Board of Directors and Management of Telhio welcomed new members to the credit union and saw increased loan growth.  With Telhio’s capital levels well beyond the required 7 percent minimum, your elected directors are confident that your credit union is well postured for continued growth and success. I would like to remind you that your credit union is regulated and monitored by state and federal agencies in addition to the formal audit by our outside auditing firm, Lillie and Company, LLC. The State of Ohio’s Division of Financial Institutions and the federal National Credit Union Administration are active partners of your federally insured credit union. Simply put, your credit union remains in regulatory compliance and maintains its high standards of financial stability and service to you, our member. I encourage each of you to understand the financials of your credit union. The staff has copies of Telhio’s audited financials available to any member at all offices and via Telhio’s web site, www.telhio.org. If you have any questions, please feel free to contact the staff or any board member of Telhio. - Henry Chang Supervisory COMMITTEE Report Throughout the year, the committee, auditors, and examiners consistently found the risks of the credit union were being properly managed and its financial condition had been reported and maintained in accordance with Generally Accepted Accounting Principles, as well as all applicable state and federal laws. The independent public accounting firm of Lilly & Company is employed to conduct an examination of Telhio’s financial statements. In addition to the independent audit, the Ohio Division of Financial Institutions (ODFI), in conjunction with the National Credit Union Administration (NCUA) regularly examines the financial statements and operations of Telhio Credit Union from both a safety and soundness, as well as insurability perspective. It is the opinion of Telhio’s Supervisory Committee that your credit union continues to grow in financial strength, operates effectively, and is helping more members meet their financial goals. The highlights contained in this Annual Report have been taken from Telhio Credit Union audited financial statements as of December 31, 2016. Selected Note disclosure and Other Supplementary information is excluded for presentation purposes. The financial statement are currently being audited by Lillie & Company LLC. Audited financial statements will be available at telhio.org . Members are encouraged to review the complete set of audited financial statements and can request a copy in writing by mailing or contacting: Telhio Credit Union, Financial Statements, 96 N 4 th Street, Columbus, Ohio 43215; Phone: (614)221-3233; webpage: www.telhio.org.

Financial statement Balance Sheet 2016 Assets Cash & Equivalents $53,517,448 Investments $53,675,751 Loans Net of Allowance $ 657,009,106 Property & Equipment Net $24,483,031 Other Assets $14,164,909 Total Assets $ 802,850,245 Liabilities and Capital Shares and Certificates $ 702,537,576 Borrowings & Other $ 32,985,160 Combined Equity $ 66,663,729 Net Income $663,780 Total Liabilities and Equity $ 802,850,245 2016 Highlights The statements represent the combined financial position and results of operations for the Consolidated Telhio Credit Union, which now includes Chaco Credit Union. Ownership Equity totaled a combined $67,327,509, resulting in a Net Worth to Assets ratio of 8.38%. Approximately $3,500,000 was returned to members through interest payments. Total Assets as of Dec. 31, 2016 were $802,850,245 Net Loans outstanding were $657,009,106 and Shares and Certificates totaled $702,537,576 resulting in a 94% loan to share ratio. Income Statement 2016 Interest Income $ 23,578,903 Interest Expense $( 3,731,948 ) Net Interest Income $ 19,846,955 Provisions for Loan Loss $(2,879,632)Net Interest after Provision$16,967,323Non-Interest Income$10,038,499Operating Expenses$(26,203,116)Net Income $802,706Other $138,926Comprehensive Income $663,780 The financial statements shown above are summarized from the audited financial statements. The audit, performed by Lillie & Co, contained an unqualified opinion. Selected note disclosure and other supplementary information are not shown. Contact Telhio Credit Union, Financial Statements, 96 N. 4 th St., Columbus, Ohio, 43215 to obtain the audited statements.

COMMUNITY More giving to Ohio communities Enriching the lives of people in our community has and always will be a focal point at Telhio Credit Union. Our dedication can be seen in our sponsorships, donations, and volunteer efforts with local programs and organizations to improve the quality of life in our community.

Year ahead New Experiences Telhio Credit Union is motivated to create changes in the 11 counties we serve. For our members, we look forward to offering greater products, services and technologies, while we remain committed to the best member service experience. As a cooperative, we are proud of the impact made in our local communities and look forward to broadening this impact by having more ability to serve the greater Ohio region.

address phone Columbus : 1 614-221-3233 H amilton : 1 513-785-3500 email info@telhio.org Website www. telhio.org Telhio Credit Union 96 N 4th StreetColumbus, Ohio 43215 Telhio is open to anyone who lives, works, worships or goes to school in Franklin, Fairfield, Delaware, Licking, Madison, Pickaway, Union, Hamilton, Warren, Butler and Preble counties. This credit union is federally insured by the National Credit Union Administration. Additional coverage up to $250,000 provided by Excess Share Insurance Corporation, a licensed insurance company. Copyright 2003-2017 Telhio Credit Union, 96 N 4th Street, Columbus OH 43215. All Rights Reserved. Deposit accounts at different divisions are part of Telhio Credit Union. Deposits held at each office are not separately insured. NMLS #251831.