Welcome! Please review your Annual Meeting Packet and help yourself - PowerPoint PPT Presentation

Welcome! Please review your Annual Meeting Packet and help yourself to refreshments. The meeting will convene at 3:05. 2017 Annual Membership Meeting

Agenda  Call to Order ___________________________________ 3:05  Minutes ________________________________________ 3:08  Governance Reports (Printed) ______________________ 3:10  2016 Community Impact Report _____________________ 3:10  2016 Treasurer’s Report ___________________________ 3:20  Elections _______________________________________ 3:50  Unfinished Business _______________________________ 4:00  New Business: Core Services, New Branch, Biz Opportunity, Our Future ______ 4:00  New Business, cont’d: Presentation from Green Light NY __ 4:30  New Business, cont’d: Q&A _________________________ 4:35  Election Results __________________________________ 4:55  Meeting Evaluation _______________________________ 4:55  Adjournment & Dinner _____________________________ 5:00 3/26/2017 2 Cooperative Federal Annual Meeting

Governance Reports (Printed Reports) • Board of Directors’ Report • Supervisory Committee Report • Credit Committee Report

Community Impacts Christina Sauve, Assistant Treasurer/COO

Loan Impact Summary Loans Opened Loans Granted Loans Outstanding $6.0 M $8.8 M $20.7 M New loans opened in Loan funds disbursed in Aggregate loan and 2016 (approved loan 2016 (LOC draws and LOC balances amount and LOC limits) term loan disbursements) at 12/31/16 Homeownership $2.9 M Homeownership $3.0 M Homeownership $13.3M Personal $1.9 M Personal $4.1 M Personal $3.6 M Small Business $1.2 M Small Business $1.7 M Small Business $3.9 M 3/26/2017 5 Cooperative Federal Annual Meeting

Cynthia Lee got personal attention and hands-on support from Coop Fed’s First Home Club. Home Ownership  Strengthening neighborhoods. Building family assets. 3/26/2017 6 Cooperative Federal Annual Meeting

Home Ownership  2016 Home Lending – Owner Occupied • Purchase, refinance, improvement and repair • Home Equity Lines of Credit • ROC Manufactured Homes Loans Opened 2016 ($) Home Loans Originated: 43 $2.9 million 3/26/2017 7 Cooperative Federal Annual Meeting

Home Ownership  2016 Home Lending • Total Originated: 43, $2.9 million Loans Opened 2016 ($) Purchase Loans: 30 $1.9 M (incl. 8 ROC homes) 3/26/2017 8 Cooperative Federal Annual Meeting

Home Ownership  2016 Home Lending • Total Originated: 43, $2.9 million – Purchase Loans: 30, $1.9 M Loans Opened 2016 ($) 52% to First Time Homebuyers ($) 3/26/2017 9 Cooperative Federal Annual Meeting

Home Ownership  2016 Home Lending • Total Originated: 43, $2.9 million Loans Opened 2016 ($) Foreclosure Rescue: 4, $151 K (16% of non-purchase mortgages) 3/26/2017 10 Cooperative Federal Annual Meeting

Home Ownership  2016 Home Lending • Total Originated: 43, $2.9 million – Purchase Loans: 30, $1.9 M o 52% to First Time Homebuyers ($$) – Foreclosure Rescue Loans: 4, $151 K o 16% of non-purchase mortgages ($$) • Home Equity LOC Disbursements: $227 K 3/26/2017 11 Cooperative Federal Annual Meeting

Home Ownership  Financial Counseling • HUD-approved housing and financial counseling • Credit advising • Open to members and nonmembers • 87 households served in 2016 3/26/2017 12 Cooperative Federal Annual Meeting

Home Ownership  Homebuyer Matched Savings • Open to low and moderate-income first time buyers • Participants get at least $7,500 in matching grants • 14 members received $123,000 in downpayment assistance matching grants in 2016 • 20 members enrolled as of 12/31/16, with $26,500+ in savings 3/26/2017 13 Cooperative Federal Annual Meeting

Rámon boosted his credit score and refinanced his car loan with Coop Fed – saving him $1,000 per year. Personal Finance  Affordable credit. Gateway to asset-building. 3/26/2017 14 Cooperative Federal Annual Meeting

Personal Finance  2016 Consumer Lending • New/used auto, debt consolidation, credit builder, credit cards, lines of credit, and other personal uses Loans Opened 2016 ($) Personal Loans Originated: 425 $1.9 million 15 3/26/2017 Cooperative Federal Annual Meeting

Personal Finance  2016 Consumer Lending • Personal Loans Originated: 425, $1.9 million Loans Opened 2016 ($) Alternative to Predatory: 200 $780 K 3/26/2017 16 Cooperative Federal Annual Meeting

Personal Finance  2016 Consumer Lending • Personal Loans Originated: 425, $1.9 million – Alternative to Predatory Loans: 200, $780 K • Line of Credit & Credit Card Disbursements: $2.3 million 3/26/2017 17 Cooperative Federal Annual Meeting

Personal Finance  Financial Capability • Workshops and courses on banking, credit, money management, homeownership, car buying and more • English, ESL, and other languages with volunteer translators • 452 adult and youth participants in 2016 3/26/2017 18 Cooperative Federal Annual Meeting

Coop Fed and Up Start helped Antonisha get working capital to grow her her business, AFICA, to the next level. Small Business  Building an independent, local economy. 3/26/2017 19 Cooperative Federal Annual Meeting

Small Business  2016 Small Business Lending • Microloans, working capital, equipment, commercial real estate and responsible, local landlords • Businesses, non-profits, & co-ops Loans Opened 2016 ($) Business Loans Originated: 38 $1.2 M 3/26/2017 20 Cooperative Federal Annual Meeting

Small Business  2016 Small Business Lending • Business Loans Originated: 38, $1.2 M Loans Opened 2016 ($) 43% owned or controlled by women or people of color (63% of loan #) 3/26/2017 21 Cooperative Federal Annual Meeting

Small Business  2016 Small Business Lending • Business Loans Originated: 38, $1.2 M – Average non-RE loan size: $14,300 – 65 local jobs supported • Revolving Credit Disbursements: $634 K 3/26/2017 22 Cooperative Federal Annual Meeting

Small Business  Education & Advising • Individual assistance with credit building, business financing, and business plan feedback • Classes with community partners • Referrals to partners for courses, mentorship opportunities, and intensive business planning assistance • 39 participants in 2016 3/26/2017 23 Cooperative Federal Annual Meeting

Coop Fed brought Biz Kid$ lessons and activities to hundreds of children in 2016. In School Savings Branches  Hands-on learning in under-served communities. 3/13/2016 24 Cooperative Federal Annual Meeting

In-School Savings Branches  2016 Initiatives: • School-based branches at Fowler, Nottingham and Henninger High Schools • Student Saving Days at Ed Smith K-8 • Treehouse Saver accounts for any member • 219 active Youth Credit Union members as of 12/31/16 3/26/2017 25 Cooperative Federal Annual Meeting

Questions? Christina Sauve, Assistant Treasurer /COO

Treasurer’s Report Ron Ehrenreich, Treasurer/CEO *Please see the Welcome table for copies of our Summary Financial Statement, Ratio Analysis and FPR Guide

Key Financial Ratios  Earnings  Capital Adequacy  Asset Quality  About Peer Ratios • Average for CUs with $10 - $50 million in assets • Less than 4% of all CUs are certified Community Development Financial Institutions (CDFIs) 3/26/2017 28 Cooperative Federal Annual Meeting

Key Ratio 1: Earnings Return On Average Assets (%) 0.5 0.4 0.4 0.3 0.3 0.2 0.2 0.1 0.1 0.0 12/12 12/13 12/14 12/15 12/16 Net Income / Average Assets (annualized) Peer 3/26/2017 29 Cooperative Federal Annual Meeting

Earnings  Positive net earnings for 5 years in a row • Recovery from crash-related losses in 2009-2011 – Bailout – Interest rates crashed too • Resuming record of positive earnings 1982-2008 3/26/2017 30 Cooperative Federal Annual Meeting

Adjusting to the “new normal” Yield on Average Loans (%) 9 8 7 6 5 4 3 2 1 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 3/26/2017 31 Cooperative Federal Annual Meeting

Earnings  Loan income increasing: more loans • Expanding business lending – Business Loan Connection & NY CDFI Loans – Special Loan Funds • New auto loan programs – Referral to Enterprise & “Nettie” – Flex Auto Loans • Better mortgage offering – All CoopFed mortgages now serviced in-house – Owner’s Choice for Fannie, Freddie, FHA, VA, USDA • Interest rates were stable in 2016 3/26/2017 32 Cooperative Federal Annual Meeting

Expenses  Stable Operating Expenses  Some exceptional expenses • Sales of OREOs – From foreclosures, deed in lieu, death of members o Years of unpaid taxes, deferred maintenance, vandalism – $12,482 net loss from sales in 2016 • “Foreclosure rescue” mortgages (for new members) – Mostly tax delinquency referrals from the city • Mortgage servicing switchover brought expense, and income, and eventually will bring savings 3/26/2017 33 Cooperative Federal Annual Meeting

Key Ratio 2: Capital Adequacy Net Worth To Assets (%) 14 12 10 8 6 4 2 0 12/12 12/13 12/14 12/15 12/16 Net Worth / Assets Peer 3/26/2017 34 Cooperative Federal Annual Meeting