Statements of Financial Condition Years Ended December 31, 2018 and 2017. (Dollars in Thousands) Assets 2018 2017 Cash and cash equivalents $ 297,941 $ 199,102 Securities held-to-maturity 1,815,592 1,636,143 Securities available for sale 438,842 250,233 Loans to members, net 4,434,766 3,583,661 Loans held for sale 0 1,039 Accrued interest receivable 17,243 11,745 Deposit in National Credit Union Share Insurance Fund 64,588 48,072 Property and equipment, net 81,111 62,353 Prepaid expenses and other assets 97,449 44,143 Total Assets $ 7,247,532 $ 5,836,491 Liabilities, Members’ Shares and Equity Liabilities: Accounts payable and accrued expenses $ 35,415 $ 44,822 Dividends payable 19 4 Members’ Shares: Members’ accounts: Regular share accounts 1,021,673 883,816 Share draft accounts 597,513 551,250 Money market accounts 2,056,484 2,025,788 Individual retirement accounts 570,220 373,275 Share certificates 2,342,069 1,384,042 Total members’ shares $ 6,587,959 $ 5,218,171 Total Liabilities and Members’ Shares 6,623,393 5,262,997 Retained earnings 624,139 573,494 Total Liabilities and Equity $ 7,247,532 $ 5,836,491 I am pleased to report that 2018 was another year of financial success for TFCU, and was augmented by the three acquisitions that occurred during the year. Select Financial/Statistical Highlights for 2018 are as follows: • Loans in our portfolio grew by 23.48% to $4.448 billion. • Total deposits increased 26.25% to $6.588 billion. • Assets at year-end increased 24.18% to $7.248 billion. • Membership increased 13.92% to 327,960 members. • At the conclusion of 2018, the credit union’s net worth ratio was 9.03%, a capital measurement that represents the strength and stability of our credit union. The continued financial growth and success of TFCU continues to provide our members with new technologies, convenient services, higher yields on savings products and lower rates on loan products. I am confident that TFCU will continue to remain strong and fiscally responsible while helping our members achieve their own personal financial objectives. As a shareholder and member-owner of TFCU, you should feel extremely proud of your credit union. TFCU continues to have the resources necessary to offer members the competitive financial products demanded in today’s marketplace. Treasurer’s Report Juan C. Nuñez Treasurer $2,612 $4,689 $5,230 $4,448 $6,588 $7,248 $2,283 $4,511 $5,024 $3,141 $4,880 $5,462 $3,601 $5,218 $5,836 TOTAL LOANS, SHARES & ASSETS As of December 31, dollar amount is in millions of dollars LOANS SHARES ASSETS 2014 2015 2016 2017 2018
