BALANCE SHEET
January 31, 2010
    
MEMBER LOANS
22,951,737.05
ACCOUNTS PAYABLE
481,980.55
OTHER LOANS
0.00
NOTES PAYABLE
0.00
ALLOW FOR LOAN LOSS
(285,434.02)
DIVIDENDS PAYABLE
53,213.60
ALLOW FOR COURTESY PAY
(23,571.00)
TAXES PAYABLE
2,739.15
ACCOUNTS RECEIVABLE
14,352.59
ACCRUED EXPENSES
116,468.93
CASH
2,081,464.54
DATA EXCEPTIONS
0.00
INVESTMENTS- SWC
2,619,297.25
REGULAR SHARES
12,180,816.12
INVESTMENTS - CDS
22,771,000.00
ALL OTHER SHARES
31,000,509.21
PREPAID EXPENSES
61,836.15
REGULAR RESERVES
2,568,975.24
FIXED ASSETS
1,372,260.99
OTHER RESERVES
4,009,311.62
ACCRUED INCOME
113,909.42
UNDIVIDED EARNINGS
2,136,109.65
OTHER ASSETS
2,827.20
COMP INC (DEF BENEFIT)
(119,575.67)
NCUA DEPOSIT INVESTMENT
424,247.87
LIABILITY FOR PENSIONS
326,566.36
TOTAL ASSETS
$52,430,548.40
  
TOTAL LIAB & EQUITY
$ 52,430,548.40
 
INCOME & EXPENSE
Year to Date
INCOME FROM LOANS 155,806.64
INCOME FROM INVESTMENTS 57,258.32
FEE INCOME 64,807.90
OTHER INCOME 5,575.04
TOTAL INCOME $283,447.90
   
EMPLOYE COMP & BEN EXP $95,356.32
TRAVEL & EDUCATION EXP $5,845.10
OFFICE OCCUPANCY EXP 12,886.04
OFFICE OPERATIONS EXP 66,735.50
DIVIDEND EXP 55,825.36
PROV FOR LOAN LOSS 19,194.66
OTHER OPER EXPENSE 15,953.02
TOTAL EXPENSE $271,824.90
   
GAIN/(LOSS) ON INVESTMENTS ($150,912.93)
TRANSFER TO UND EARNINGS ($138,289.93)

 

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

Tammy Byrnes --current term expires in 2011

Ricky Vaughn -- current term expires in 2013

Sam Kidd -- current term expires in 2013