BALANCE SHEET
for period ended
July 2010  
MEMBER LOANS
23,244,475.18
ACCOUNTS PAYABLE
394,787.61
OTHER LOANS
0.00
NOTES PAYABLE
0.00
ALLOW FOR LOAN LOSS

(242,067.20)

DIVIDENDS PAYABLE
50,095.22
ALLOW FOR COURTESY PAY
(22,009.04)
TAXES PAYABLE
2,856.17
ACCOUNTS RECEIVABLE
(14,090.09)
ACCRUED EXPENSES
230,445.87
CASH
1,952,268.80
DATA EXCEPTIONS
62.86
INVESTMENTS- SWC
4,174,531.09
REGULAR SHARES
12,310,528.72
INVESTMENTS - CDS
23,744,000.00
ALL OTHER SHARES
33,501,643.77
PREPAID EXPENSES
67,148.78
REGULAR RESERVES
2,568,975.24
FIXED ASSETS
1,351,800.54
OTHER RESERVES
4,009,311.62
ACCRUED INCOME
98,385.18
UNDIVIDED EARNINGS
2,172,250.44
OTHER ASSETS
5,007.20
COMP INC (DEF BENEFIT)
(114,287.69)
NCUA DEPOSIT INVESTMENT
429,482.85
LIABILITY FOR PENSIONS
309,556.36
TOTAL ASSETS
$55,126,669.83
  
TOTAL LIAB & EQUITY
$55,126,669.83
 
INCOME & EXPENSE
Year to Date
INCOME FROM LOANS 1,056,662.11
INCOME FROM INVESTMENTS 360,242.80
FEE INCOME 471,483.84
OTHER INCOME 41,030.23
TOTAL INCOME 1,929,418.98
   
EMPLOYE COMP & BEN EXP 659,002.79
TRAVEL & EDUCATION EXP 40,651.43
OFFICE OCCUPANCY EXP 90,464.21
OFFICE OPERATIONS EXP 479,841.58
DIVIDEND EXP 369,827.28
PROV FOR LOAN LOSS 47,194.66
OTHER OPER EXPENSE 172,691.42
TOTAL EXPENSE $1,859,727.31
   
GAIN/(LOSS) ON INVESTMENTS ($173,282.06)
TRANSFER TO UND EARNINGS ($103,590.39)

 

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:

Dan Tucker -- current term expires in 2012

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