Treasurer’s Report

As members of your volunteer board, we have the responsibility of ensuring your credit union is safely and soundly operating. We are charged with ensuring the institution has a solid financial foundation. We were proud of our operations during this difficult time and remain incredibly grateful to our staff for their commitment to our member/owners. Many elements that were beyond our control, including labor market challenges and historic interest rate increases, were overcome by our team, and, in the end, we continued to provide you with great service and competitively priced products. We closed 2022 with almost 222 million in assets, almost $67 million in loans, and over $184 million in shares. And after paying dividends, we were able to positively contribute to our capital account.

Financially, 2022 was as good year. We were both profitable and efficient as we ended the year with a 20.08% Net Worth ratio.

Member Return:

• Share dividends totaled $1,733,927.24 which represents a return to the membership of 21.31% of total income earned by the credit union in 2022.

• Of the remaining income, 74.26% was distributed to the normal cost of operating the Credit Union, and 4.43% was placed in statutory reserves to keep capital levels strong.

Pantex Federal Credit Union’s financial goals are to remain safe, secure, and relevant to our membership now and into the future.

Respectfully submitted,

Larry Thompson, Treasurer

$1,733,927.24 Total Share Dividends Paid

Represents a return to the membership of 21.31% of total income earned by the Credit Union in 2022.

4.43% was placed in statutory reserves to keep capital levels strong.

2022

74.26% was distributed to the normal operating cost of the Credit Union.