President’s Message

The President’s Report

‘Members Helping Members’

To Our Members,

2016 was a special year for our nation, and for our Credit Union. As I preparing this letter I realized how blessed we are to live in a nation that allows us the freedoms that we have, and how thankful I am for the opportunity Access has had to support and serve this community. It has been a privilege to work with our Board of Directors and senior team over the years to plan and prepare our organization for the future. For me, with my approaching retirement, it was a time to reflect and of special memories of a credit union and company (the electric company) that has served its members and customers so well. I remember it like it was yesterday, the first day I went to work for Southwestern Public Service Company (SPS) and shortly after began serving at the Credit Union as a volunteer. It was 1976, when I was introduced to what would become 41 years of membership by joining and then serving on my first committee, at Public Service Employees Credit Union. Back then, the Credit Union was only six million in assets with a total of six employees, but through employees of SPS, had one hundred and twenty volunteers who served as representatives and on various committees throughout the electric company’s service territory.

Public Service Employees Credit Union, chartered in 1953 by and for employees and family members of Southwestern Public Service Company was the Credit Union’s single sponsor until 1998. In 2003, the Credit Union completed its charter revisions by opening up its membership through a community charter.

Things have changed over the years, the only volunteers today are those members serving on our Board of Directors. As I reflect back, I am grateful for all those who served over the past six decades. The Credit Union has grown and prospered through the years from the dedication, service and leadership that volunteers have given to make “Access Community” the credit union we are today. How we got here is a tribute to our members and volunteers and is truly expressed by our belief in “Members Helping Members”, the longtime service motto of the credit union industry.

Here are a few key highlights from the past:

  • 1997 Charter revised to include any person who was related by blood or marriage
  • 1998 Charter revised to add “Select Employee Groups”, membership for other business’s in our service territory
  • 1999 Credit Union’s name changed from Public Service Employees Credit Union to Access Credit Union
  • 2000 Built and moved in to our new home office location at 6401 South Bell Street
  • 2003 Charter revised to a community credit union for residents who live, work, or worship in Potter and Randall counties
  • 2005 Purchased land on Tascosa Road to build our first branch
  • 2006 Changed name by adding “community” to Access Community Credit Union
  • 2008 Opened our first Branch, Tascosa Financial Center, at 201 Tascosa Road
  • 2013 Opened a Service Center (Call Center) at our main office
  • 2014 Achieved a financial milestone of 100 million in Asset size
  • 2014 Opened our 2nd branch, Paramount Financial Center, at 2531 Paramount Blvd.

A special “thank you” goes to our Board of Directors. Their commitment over the years has been paramount to our success, several board members have faithfully served more than a decade. They have been a great source of wisdom and vision, their leadership was instrumental in developing our purpose statement to members “Helping You Build Financial Security”, and our core values, the “Diamond of Values”, the principles that guide us today. 2016 was no exception, the Board was inspirational leading our team to achieve another outstanding year.

In December, the Texas Credit Union Department examiners gave us a superior rating on our examination. In the report the Director of Examination statedThe Credit Union is well capitalized. The Net Worth position is sound relative to the credit union’s risk profile. The Board of Directors continues to provide good administrative oversight, and operational management has demonstrated the ability to effectively manage day-to-day operations. Loan underwriting standards are prudent, and the collection efforts are sound. The credit risk within the loan portfolio is low, with no material concerns.” The Credit Union’s 2016 Annual Report may be viewed at our website.

A quick look at the financial growth for 2016:

  • Total Assets reached $114.5 million at year end- a $4.6 million increase or 4.2% increase for the year
  • Member Loans grew by 8.6%- at $86.9 million outstanding at year end; an increase of $6.9 million for the year; we made over $52.9 million in new loans during the year
  • Member deposits are now at $96.8 million; deposits grew by $4.1 million; growth in member checking accounts, share accounts, money markets and IRA’s combined for an overall increase of 4.4%
  • Our Membership rose to 11,413 members by year end; a 2.6% grow for the year
  • Our Net Worth remains high at 14.3%; it is approximately 3.38% higher than our peer credit unions industry wide

One of the charitable partnerships we’ve been most proud of for the past 3 years involves support for cancer survivors.  As many of you may be aware, “24 Hours in the Canyon” directly funds the Cancer Survivorship Center that is free to all survivors in the Texas panhandle, regardless of where they were treated.  In March, the credit union again teamed up with 575 Pizzeria for the “One Night of Victory” fund raising event raising over $6,200.  Combined with $5,000 from the Charitable Checking Promotion in November and December. I am proud to report that for this year over $11,000 was raised for the Survivorship Center!  Over the past 3 years Access has been blessed and privileged to donate more than $30,000 toward the Survivorship Center.

As I mentioned, I will be retiring in February 2017. It’s been a great pleasure for almost seventeen years to serve members of Access. My employment began back in 2000 as the CFO and in 2006 I became the President/CEO. I will always be grateful and treasure the opportunities I have had to serve and lead the Credit Union. I have thoroughly enjoyed every year working with such a great membership, staff and Board of Directors. The Credit Union will be in good hands in the future. Mr. John Hays, Executive VP/COO, who has been with Access for 11 years, will become the President/ CEO. I know John and the credit union team will keep your best interest at heart.

May you and your family have a blessed 2017!


Keith Watson

President / CEO