Philosophy & Structure
    
Credit unions are democratically owned and controlled institutions based on 'people helping people' principles. Credit union boards of directors are elected by members; each member has an equal vote, regardless of how much he or she has on deposit. Only members may serve as directors, and directors serve without compensation. Credit unions have no outside stockholders, so after reserves are set aside, earnings are returned to members in the form of higher dividends on savings, lower loan rates and lower cost services.

Board of Directors  2011

Board Member Name                          Term Expires                Position           

William Metzger                                   March 2012                 Chairman

Keith Smith                                          March 2013                 Vice-Chairman

Larry Spurgin                                       March 2013                 Treasurer

Brenda Reames                                    March 2013                 Secretary

David Rosen                                         March 2014                  Director

Sheila Lambeth                                     March 2014                  Director

Yvonnne Martinez                                 March 2012                  Director

 Membership as of December 31, 2010- 5,469

Safety & Soundness

Credit unions primarily engage in consumer loans and residential real estate lending to their members. Credit union performance is at a historically high level. Currently, credit union capital nationwide is 10.28% and the equity ratio of the federal insurance fund, the National Credit Union Share Insurance Fund (NCUSIF), has operated above 1.25% for 11 consecutive years.

 2010 Annual Report 

 We completed audits from the Texas Credit Union Department and the auditing firm of McGladrey and Pullen.  The credit union received a good report from both audits. 

Regulation & Supervision

Mesquite Credit Union was chartered under federal law. Federally chartered credit unions are regulated by the National Credit Union Administration (NCUA), an independent agency of the U.S. Government. NCUA's three board members are nominated by the President and confirmed by the Senate.

State chartered credit unions are regulated by their state credit union department. NCUA administers the federal insurance fund,NCUSIF, which covers all federal credit unions, and most state chartered credit unions. No taxpayer money is used for regulating and overseeing federal credit unions, as all activities of NCUA and the NCUSIF are funded by credit unions.

  Upon request, a member is entitled to review or receive a copy of the most recent version of the following credit union documents: balance sheet and income statement (the non-confidential pages of the latest call report may be given to meet this requirement); a summary of the most recent annual audit completed in accordance with §91.516 of this chapter (relating to Audits and Verifications); written board policy regarding access to the articles of incorporation, bylaws, rules, guidelines, board policies, and copies thereof; and Internal Revenue Service Form 990.