Availability of Documents
The credit union’s balance sheet and income statement are available in the credit union’s office. Also available are a summary of the most recent annual audit, board policy regarding access to articles of incorporation, bylaws, rules, guidelines, board policies and copies thereof. As well as IRS Form 990.
The Credit Union’s Balance Sheet
Statement of Financial Condition as of December 31, 2024
| ASSETS | December 2024 | December 2023 |
|---|---|---|
| Loans to Member | 13,409,056.57$ | 13,376,914.86$ |
| Allowance for Loan Loss | (96,336.76) | (104,247.56) |
| Receivable Cash | 11,881.76 232,046.80 | 13,315.36 523,049.20 |
| Investments | 7,871,930.82 | 8,111,275.78 |
| Prepaid Expenses & Deferred Charges | -64,117.55 | 8,553.14 |
| Fixed Assets | 229,829.51 | 178,399.81 |
| Accrued Income | 70,238.68 | 66,624.55 |
| Deposit in NCUSIF | 204,212.17 | 212,506.93 |
| Other Assets | 175,064.56 | |
| TOTAL ASSETS | $21,868,742.00 | $22,561,456.63 |
| LIABILITIES & EQUITY | ||
| TOTAL LIABILITIES | $335,990.24 | $213,876.79 |
| MEMBER EQUITY | ||
| Regular Shares | 12,205,429.96 | 12,292,454.57 |
| Share Drafts | 4,684,440.18 | 4,832,096.70 |
| Money Market | 556,868.23 | 638,957.72 |
| I.R.A.'s | 740,640.56 | 984,496.38 |
| Certificates | 905,907.99 | 1,367,169.65 |
| Other Deposits | 691,623.65 | 604,776.64 |
| TOTAL MEMBER EQUITY | $19,784,910.57 | $20,719,951.66 |
| RESERVES & UNDIVIDED EARNINGS | ||
| Regular Reserves | 580,374.86 | 580,374.86 |
| Other Reserves | ||
| Undivided Earnings | 1,338,708.46 | 1,265,582.76 |
| Comprehensive Income | (171,242.13) | (218,329.44) |
| TOTAL CAPITAL | $1,747,841.19 | $1,627,628.18 |
| NET INCOME | . | |
| TOTAL LIABILITIES & EQUITY | $21,868,742.00 | $22,561,456.63 |
Statement of Income and Expenses for the Year Ending - December 31, 2024
| INCOME | December 2024 | December 2023 |
|---|---|---|
| Income from Loans | 793,873.81 | 681,895.49 |
| Investment Income | 188,853.72 | 189,272.39 |
| Fees & Charges | 154,560.29 | 148,678,72 |
| Miscellaneous Income | 10,124.87 | 27,635.57 |
| TOTAL INCOME | 1,147,412.69 | 1,047,482.17 |
| OPERATING EXPENSES | ||
| Employee Compensation | 556,784.45 | 481,213.28 |
| Travel & Conferences | 15,068.31 | 7,808.69 |
| Association Dues | 621 | 591 |
| Office Expenses | 307,546.83 | 286,340.91 |
| Professional& Outside Services | 133,216.10 | 98,966.40 |
| Provision for Loan Loss Member Insurance / Stabilization | (6,805.00) | (1,571.59) |
| Miscellaneous Expenses | 8.00 | |
| TOTAL OPERATING EXPENSES) | $1,006,431.69 | $873,356.69 |
| NET OPERATING INCOME (LOSS) | 140,981.00 | 174,125.48 |
| NON-OPERATING EXPENSE | ||
| Dividends | 37,855.30 | 21,953.46 |
| Non-Operating Gain (Loss) | ||
| TOTAL NON-OPERATING EXPENSES | $37,855.30 | $21,953.46 |
| NET INCOME | 103,125.70 | 152,172.02 |
List of Board Members & Management
| Board of Directors 2021 – 2022 | Title | Term Expires |
|---|---|---|
| Guy Flowers | Chairman | 2024 |
| William "Bud" Sperling | Vice Chair | 2026 |
| Pam Hensley | Secretary | 2024 |
| Reuben Marek | Tresurer | 2024 |
| Robert "Dale" Whitesell | Director | 2026 |
| George White | Director | 2025 |
| Randy Dozeman | Director | 2025 |
| John Conner | Advisory Director | Appointed |
| Nicole Guajardo | Advisory Director | Appointed |
| Management | Title |
|---|---|
| Lathe Owens | President & CEO |
| Debbie Brockette | Collection Manager |
| Kathy Vansa | Account Manager |
The Chairman’s Report:
Good evening and welcome to everyone here for the 71st Annual Meeting of TSF Community Credit Union.
What a year 2024 was! Does everyone remember the little tornado that impacted our community back in May along with the significant weather challenges that followed? Our CU building sustained over two hundred thousand dollars in damages. We truly appreciate your patience as our dedicated staff worked tirelessly to navigate the aftermath and manage the restoration efforts.
Last year also brought some changes to our staff. Most recently, at the end of December, my good friend, Mr. Mike Hamby, retired after leading the Credit Union for the past eleven years. Mike guided us through some of our most challenging times, and we owe him a huge thank you for his dedication and hard work. Don't worry—Mike isn’t going far. He will be joining the board as an advisory member, taking over the position from Judge Jon Burrows (ret.), who resigned in Q4 of 2024. We are also excited to announce that Mr. Lathe’ Owens has stepped into the role of President & CEO, following Mike’s retirement. Lathe has been serving as our CFO since Charles Caughlin retired in 2022. Additionally, we’ve welcomed Ms. Susan Schneider to our team in 2024, and we are thrilled to have her on board!
As this marks the end of my term as Chairman and my time on the board, I want to take a moment to thank my fellow board members for their unwavering commitment to this Credit Union. It’s been a true honor to serve.
Our community is growing, and so are we. With this growth, we’re focused on ensuring a bright future for all of us, and we are continually working to find new and better ways to serve you—our valued members.
In closing, I want to express my sincere appreciation for the leadership of Lathe’ Owens, our President & CEO, the dedication of our incredible staff, and the support and loyalty of you, our members. I have full confidence that TSF Community Credit Union is well-positioned to tackle the challenges ahead and continue to pursue opportunities that will ensure the success of our Credit Union family.
Looking ahead, we are excited for an even better 2025 and wish you all the best for the year to come!
Guy Fowler
Chairman
The President’s Report:
I am deeply humbled and honored to serve as the President of Temple Santa Fe Community Credit Union — a historic institution with deep roots in the community we serve. As we mark our 71st year, I reflect on the lasting impact we’ve made together, from our founding to the present, and the positive changes ahead. We have remained steadfast in our commitment to providing financial services that put our members’ needs first. Over the years, we've not only grown in numbers but, more importantly, in the strength of our shared community.
Our credit union has always been more than just a financial institution; it’s been a family, and I thank you for so graciously welcoming me. This year, we’re excited to announce a major update: a brand-new website that will roll out in the coming months, designed to serve you better and make your experience with us even more seamless. We’ve also had the privilege of kicking off 2024 by making our first commercial loan to a fantastic local business and fellow credit union member, Titan Machine & Design. We’re proud to support their growth and their owner, Ross Schultz, as they continue to contribute to the local economy.
As we look to the future, I remain committed to the values that have guided us since day one—integrity, service, and a deep dedication to the well-being of each and every member. Let us not only celebrate the rich history of Temple Santa Fe Community Credit Union, but also look forward to an even brighter future. Thank you for your trust, loyalty, and support as we continue to work together to make a positive impact on our community.
Here’s to many more years of shared success, trust and prosperity.
Respectfully,
Lathe’ Hamilton Owens
President & CEO