Financial Reports

BALANCE SHEET   As of December 31, 2011   Member Loans 26,011,162 Accounts Payable 495,208 Allow For Loan Loss (253,947) Notes Payable 0 Allow For Courtesy Pay (25,101) Dividends Payable 41,124 Accounts Receivable 5,791 Taxes Payable 5,904 Cash Accounts 4,448,112 Accrued Expenses 70,450 Investments- Catalyst Corp FCU 1,438,917 Data Exceptions 140 Investments - CDs 21,002,000 Regular Shares 13,744,871 Prepaid Expenses 120,249 All Other Shares 37,256,220 Fixed Assets 2,365,983 Regular Reserves 2,568,975 Accrued Income 88,176 Other Reserves 4,009,312 Other Assets 4,577 Undivided Earnings 2,262,488 NCUA Deposit Investment 511,238 Comp Inc (Def Benefit) (491,284) Liability For Pensions (53,749)   TOTAL ASSETS   $59,963,408   TOTAL LIAB & EQUITY   $59,963,408   Income and Expense For the Year 2011 Income From Loans 1,834,283 Income From Investments 401,263 Fee Income 915,977 Other Income 161,017 TOTAL INCOME $3,312,540     Employee Comp & Ben Exp 1,207,165 Travel & Education Exp 69,552 Office Occupancy Exp 181,843 Office Operations Exp 789,379 Dividend Exp 512,218 Prov For Loan Loss 91,630 Other Oper Expense 191,308 TOTAL OPERATING EXPENSES $3,043,095   Net Income From Operations   NCUA Assessments   $269,445   (127,809) Gain/(Loss) On Corporate FCU 19 TRANSFER TO UND EARNINGS $141,655   Members of Telco Plus Credit Union are provided the following information: the most recent Balance Sheet, Income and Expense Report; Annual Report, a list of board members and their terms, changes to the credit union's bylaws and articles of incorporation, financial conditions, membership size and services offered since the credit union's last report. Other documents are available to members upon request: a summary of the most recent annual audit, the most recent statement of financial condition, IRS Form 990 and other documents. Members may request any of these by calling 903-753-5588, at either credit union location, or by written request mailed to Telco Plus Credit Union, P.O. Box 3099, Longview, TX 75606-3099. Board members: James Pete -- current term expires in 2011 Jessie Nichols -- current term expires in 2012 Bill Thompson -- current term expires in 2012 Carma Smith--current term expires in 2011 Ricky Vaughn -- current term expires in 2013 Sam Kidd -- current term expires in 2013 Joni Bailey -- current term expires in 2011