Interior Federal Credit Union 2018 Annual Report
Issue link: http://www.epageflip.net/i/1088384
TREASURER'S REPORT For several years, Interior FCU has been focusing on growth and reaching the milestone of $200 million in assets. That goal was reached this year. The Board of Directors and Management have made a commitment to ensuring the long-term success of Interior Federal Credit Union. Ensuring that members receive tremendous value is a part of our primary concern. This is why we continue to provide competitive dividends and to curtail our fees to encourage and sustain our membership. We strive to remain a safe and sound financial institution with a strong financial profile. Sincerely, Brenda Rodriguez, Treasurer SUPERVISORY COMMITTEE'S REPORT The Supervisory Committee is responsible for monitoring the financial safety and soundness of Interior Federal Credit Union. We also measure compliance with the various financial and regulatory requirements. The Committee selected the independent audit firm of Doeren Mayhew, CPAs and Advisors, which directly reports to the Supervisory Committee. During the monthly Board meetings, we reviewed these internal audit reports, internal control and risk management processes, and examinations by regulatory agencies. The following nine internal reviews were conducted in 2018: 1. Employees' and Officials' Accounts 2. Call Center 3. Charge-Off Loans 4. Collections 5. Share Draft Processing/Returns 6. Human Resources/Payroll 7. Credit Card Act 8. Loan Reports 9. Verafin Validation In the opinion of the Committee, Interior FCU has operated in accordance with applicable federal and state regulations. Respectfully Submitted, Margaret Lliteras, Chairperson Gary Weitzner David Barta LOAN REVIEW COMMITTEE'S REPORT The purpose of the Loan Review Committee is to provide another level of review for borrowers that have been denied a loan, and have requested another review. Loan results include: 2,859 Loan Applications Processed 1,749 Loans Approved for $29,138,018 1,112 Loans Denied for $11,550,906 Loan Officers are responsible for approving and denying loans; therefore, a smaller number of loans are reviewed by the Loan Review Committee. Sincerely, Monica Taylor Lane, Chairperson Rene Amacker Melanie Navarro BOARD OF DIRECTORS John Nyce, Chairman Mark Davis, Vice Chairman Karen Baker, Secretary Brenda Rodriguez, Treasurer Chris Colvin Glenda Owens Peter Probst Monica Taylor Lane Gary Weitzner ASSOCIATE DIRECTORS Elyas Abi-Antoun Shawn Buckner MAILING ADDRESS 12201 Sunrise Valley Drive Room BA208 MS700 Reston, VA 20192-0002 NCUA INSURANCE Your savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government, National Credit Union Administration, a U.S. Government Agency.