Todd L. Gaudin, President
Johnny Lewallen, Chairman
PRESIDENT AND CHAIRMAN’S REPORT
As we reflect on another year of growth and challenges, on behalf of Gulf Credit Union and its Board of Directors, we are pleased to share that Gulf Credit Union continues to be a strong and resilient financial institution. Despite the evolving economic landscape, our commitment to our members and the communities we serve has remained steadfast.
2024 has been a year of strategic growth and community-focused initiatives. We have worked diligently to provide our members with the financial tools and resources needed to thrive, offering a variety of products designed to meet their changing needs. Whether through innovative digital banking solutions or personalized in-branch services, we have remained dedicated to providing value and convenience to each of our members.
One of the highlights of 2024 was the completion of our new Administration Building. This important milestone reflects our commitment to long-term growth and improved member service experience. With this new space, we are well-positioned to better serve our members and accommodate our expanding team. We are thrilled about this new chapter in our journey as an organization. This addition helps to ensure that our governance aligns with our operational changes and helps to solidify our presence in the community for generations to come.
One of our core priorities this past year has been to expand our financial education and support local initiatives. We are proud of the partnerships we have developed and the positive social impact these efforts have had on the communities we serve. In 2024, our employees donated over 1,000 hours in service to our community! In the efforts of giving back to our members, our Kasasa® account holders have received a total of $452,184.00 in cash rewards since 2020 when we launched this product! At the end of December 2024, we debuted our Double Digits Teen accounts. Through this program, we are excited to be able to reward our youth members for their efforts in excelling in school.
As we look ahead to 2025, we remain focused on building financial security while enhancing our credit union’s experience. Gulf Credit Union’s future is bright, and we will continue to embrace innovation while staying true to our cooperative values of trust, integrity, and mutual benefit.
As we close, we would like to express our heartfelt gratitude for your continued support and loyalty. Together, we will continue to build a stronger, more prosperous future for all.
Sincerely,
Todd L. Gaudin
Johnny Lewallen President/CEO Chairman of the Board
• Contributed $1.1 M to member capital • Increased our Net Worth to 10.64% • Return on Assets of .38%
Increased total loans by $7 M
16,109,889
(1,076,620)
15,033,269
1,260
(12,678,723)
2,355,906
(1,163,097)
$ 1,192,809
$350,000,000
$300,000,000
$250,000,000
$200,000,000
$150,000,000
$100,000,000
$145,000,000
BOARD OF DIRECTORS
NAME TERM ENDS
Johnny Lewallen, Chairman 2025
Robert Lovelace, Vice Chairman 2025
Logan Delcambre, Secretary/Treasurer 2027
Karen Brown 2026
Barry Gorman 2026
Jason Howard 2025
Joshua Lege 2027
EXECUTIVE MANAGEMENT
Todd L. Gaudin, President/CEO
Stephine Adams, Senior Vice President/Chief Operations Officer
Derek J. Landry, Senior Vice President/Chief Lending Officer
Kathy Wolford, Executive Assistant
Changes to Board, Executive/Senior Management, or Bylaws and Articles of Incorporation in 2024
Dustin Marsh resigned as a Director
Jason Howard was appointed as a Director (was an Advisory Director) to complete vacant unexpired term
Linda Kiker Rials, CFO, retired in June
Derek J. Landry hired as Senior Vice President/Chief Lending Officer
Veronica Chaney promoted to Vice President/Operations
Amanda Daigle promoted to Vice President/Strategic Growth
Articles of Incorporation Amendments:
Changed our corporate address from 5140 W. Parkway, Groves Texas 77619 to 2779 A. Aero Drive, Port Arthur, Texas 77640
GULF INVESTMENT GROUP
John Pat White II, CRPC, Vice President of Wealth Management