NCE Credit Union Mission Statement

Board of Directors: Nueces County Employees Credit Union

Juan Escobar – Chairman – Term 2024-2026

Irene Herrera – Co-Chairman – Term 2023-2025

Brenda K. Nunez – Secretary – Term 2024-2026

Judge Thelma Rodriguez – Board of Director – Term 2024-2026

Kerry Ginn – Board of Director – Term 2023-2025

Supervisory Committee:

The responsibility of the supervisory committee is to ensure that proper.
controls are effectively maintained to adequately protect the Credit Union,
its members, management and employees. Independent CPA’s and companies are
employed to audit areas of risk in the operations of the Credit Union. These
audits allow Credit Union activities to be monitored to ensure assets are
properly safeguarded.

GF Valdez, P.C. was retained to perform annual audit and examination
of critical Credit Union policies and procedures. The accuracy and
reliability of financial statement is also reviewed. Last audit performed
January 22, 2024, audit performed for period of December 31, 2023.

The reviews performed concluded that NCE Credit Union is safe, sound,
financially strong and maintains its credentials of sound credit union
management. If you have any questions or would like to see the
results of audit please come by the Credit Union during business
hours.

G.F. Valdez, P.C. performed the verification of member accounts for the period ending December 31, 2023.

Nueces County Employees Credit Union

901 Leopard St. Suite 114
Corpus Christi, Texas 78401
(361) 882-4780

Annual Meeting Minutes
March 12, 2024

Board Members present:

Juan Escobar-Chairman
Irene Herrera-Co Chairman
Brenda K. Nunez-Secretary
Thelma Rodriguez-Board Member
Kerry Ginn-Board Member
Yome Delgado-CEO

NCE Credit Union’s 58th Annual Meeting was called to order by Board Chairman Juan Escobar at 6:11 p.m. Mr. Escobar ascertained a quorum of more than 15 members. A motion to accept the 58th Annual Meeting to order was made by Maria Cruz 1 and Jovita Gomez 2nd the motion, vote was called, all in favor, motion carried.

Opening Prayer was given by Board Chairman Juan Escobar.

The Pledge Allegiance was recited by Vice Chair Irene Herrera.

Board Chairman, Juan Escobar welcomed and thanked all the members in attendance of the NCE Credit Union 58th Annual Meeting. Chairman Escobar expressed that NCE Credit Union’s success depends on the participation of our member-owners, and we appreciate each of them for displaying their involvement here tonight.

Chairman’s Report

Chairman Escobar thanked the membership for allowing him to serve as Board Chairman this past year. He expressed that it has been a pleasure to serve the membership and work with a knowledgeable and engaged Board of Directors. Chairman Escobar informed the membership that as we continue to adjust to a post-pandemic world, NCE Credit Union continues to perform reasonably well and is diligently working to adapt to this new economic landscape. NCE Credit Union continues to be a well-capitalized financial institution, with a strong net worth ratio of 21%. To put that in perspective, a net worth ratio above 7% is considered a well-capitalized financial institution by our regulators. Our goal is to keep our small Credit Union well-positioned for continued growth and success. We reiterated the fact that we are all stakeholders here, each of us invested in the health and well-being of NCE Credit Union. In closing, Chairman Escobar expressed his deepest confidence in our CEO, the wisdom and guidance of our respected board of directors, the commitment of our dedicated staff, and the support and loyalty of our member-owners. Chairman Escobar thanked the membership again and wished the members and their families the very best this year.

President’s Report

Chairman Escobar turned it over to Yome Delgado, CEO, to deliver the President’s Report. Yome Delgado welcomed and thanked the membership for attending the 58th Annual Meeting. Yome Delgado explained that we all know that credit unions are different. That is why we are here tonight. As, members, you are equal owners, and we are accountable to you. Yome informed the membership that they make the decisions and participate through their vote. The Credit Union has seen many changes in the past few years, but one core value has not changed; our membership. NCE works diligently to provide the best value and experience for our members. Yome Delgado explained that while we have seen many enhancements to the economy, challenges remain. For example, we have worked to streamline and simplify our processes where possible and continue to educate our members on ways to improve their credit history. We want to be able to offer every one of our members the best loan interest rates possible. The Federal Reserve is not expected to start cutting interest rates until the latter part of 2024. While NCE Credit Union showed a decrease in our loan portfolio, net worth showed an increase, assets increased, and investments increased. Our challenge in 2024 is to increase our loan portfolio. Yome Delgado reminded the membership that we refinance loans from other financial institutions, and we also match competitor loan rates. So, we invite you to stop by our office and get pre-approved before you shop. Yome Delgado also reminded the membership that “once a member always a member” and we encourage you to refer family and co-workers to join our credit union family.

Yome Delgado recognized our Board of Directors for their leadership, dedication, and passion for this Credit Union. The strength of their commitment is key to our loan-term sustainability and prosperity.

Chairman Juan Escobar introduced the NCE Credit Union staff:

Annual Audit Report

Yome Delgado, CEO, informed the membership that she is very pleased to announce that NCE Credit Union is a well-capitalized financial institution, with a strong net worth ratio of 21%. Yome Delgado reiterated again that a net worth position above 7% is considered well-capitalized by our regulators.

Financial Report for 2023

Total loans: $3,079,560.00
Investments: 1,345,000.00
Total assets: $5,387,978.00
Total Income: $ 384,912.00
Total expenses: $298,370.00
Cost of Funds: $22,578.00
Total Net Income: $63,964.00

A Supervisory Committee Audit was performed by GF Valdez, P.C. as of December 31, 2023, to verify the accuracy of NCE Credit Union’s records in accordance with requirements set forth in the Credit Union bylaws and Regulations.

Board Director/Secretary, Brenda Kay Nunez read the minutes from the (Tuesday) May 09, 2023, Annual Meeting. The annual meeting minutes were available for review. Mrs. Nunez asked if there was any new business, no questions were asked, and no comments were made. Motion to accept the 2023 Annual Meeting minutes was made by member Joann_Beltran 1st and 2nd by member Jovita Gomez vote was called, all in favor, motion carried.

Yome Delgado recognized the outgoing Board of Directors: Chairman, Juan Escobar, Secretary, Brenda Kay Nunez, and Board member, Thelma Rodriguez. A $25.00 gift was given to each outgoing Board of Directors.

Yome Delgado, CEO, recognized the three nominating committee members and thanked them for serving: Patricia Gobble, Laverne Goode, and Telma Lopez.

Board Director- Kerry Ginn announced the nomination for the 3 vacancies available on the Board of Directors. He informed the NCE members that serving on the Board of Directors is on a volunteer basis and the Board of Directors meet every 3rd Tuesday of the month at noon although they also may meet after work or on Saturdays. The following people were nominated by the nominating committee:

1) Juan Escobar
2) Brenda Nunez
3) Thelma Rodriguez

Board Director- Kerry Ginn opened floor nominations. Since there were no floor nominations this election will not be conducted by ballot since the number of nominees equals the number of positions to be filled. A motion to seize the floor nominations was made by member Paula Hernandez 1st and 2nd by member, Consuelo Larioz, the vote was called, all in favor, motion carried.

Board Director- Kerry Ginn announced the 3 new Board of Directors for 2024-
2026 are Juan Escobar, Brenda Nunez and Thelma Rodriguez.

Board Chairman, Juan Escobar, asked the membership if there were any questions. There were no questions or comments asked from the membership.

Chairman Escobar informed the NCE members that dinner was now being served.

Chairman Juan Escobar gave recognition to all the Donors of door prizes for our annual meeting. They are as follows:

1.) American Income Life Insurance
2.) Andy and Bertie Villarreal Tax Service: Owner Bianca Villarreal Apusen
3.) BOD: Brenda Nunez
4.) Corpus Christi Hooks Baseball Club
5.) Corpus Christi Ice
6.) Hurricane Alley
7.) In the game Fun Trackers
8.) BOD: Irene Herrera
9.) Jaime Martinez Sr
10.) Chairman: Juan Escobar
11.) Judge Henry Santana JP 1-2
12.) BOD: Judge Thelma Rodriguez
13.) BOD: Kerry Ginn
14.) Laurie and Esmeralda Fierro-NCE Members
15.) Attorney at Law Michelle Villarreal-Kuchta
16.) NCE Credit Union
17.) Shoreline Sandwich Co
18.) Railroad Seafood & Brewing Co
19.) Route 66 Extended Warranty
20.) Smoothie King: Owner Joe Perez
21.) South Texas Auto Recon: Owner Andrew Villarreal
22.) Texas A&M Corpus Christi Islanders
23.) The Bar-B-Q Man
24.) Total 1 Services Corp
25.) Ubeo Business Services: Efrain Franco, Major Account Executive

Chairman Juan Escobar handed out door prizes to members whose names were drawn through a ticket system. After all the prizes were given, Chairman Escobar thanked the NCE Credit Union members, guest, and staff who attended the 2024 annual meeting and NCE Credit Union members, guest, and staff who attended the 2024 annual meeting and for allowing NCE Credit Union staff and Board of Directors to serve them. All the members are greatly appreciated.

Motion to adjourn the annual meeting at 7:21 p.m. was made by Mary Cruz 1st and 2nd by Jovita Gomez, vote was called, all in favor, motion was carried.

Juan Escobar, Chairman
Date: 03/26/2024

Brenda Kay Nunez, Secretary
Date: 03/26/2024

Click here for the 2023 Financial Report