Board of Director’s Report
Welcome to the 75th annual meeting of WesTex Federal Credit Union. The annual meeting fulfills a requirement from the National Credit Union Administration, and more importantly, gives us an opportunity to provide our members a report on your Credit Union’s financial status. It is also the time when we elect members to the Board of Directors.
75 years ago, employees of the City of Lubbock joined together to create this Credit Union. They knew that together they could help each other meet important financial goals. They recognized that individually they did not always have what it took to get help from traditional banks. They decided to help each other. That spirit of cooperation and concern for their neighbors is still a guiding value of WesTex Federal Credit Union.
Now 75 years later, we are still working together to help each other meet our financial goals. Our credit union membership and assets continue to grow. Yet even as we grow, our concern for our members and our neighbors is arguably our strongest asset. We still have the same vision: WesTex is committed to fulfilling your financial dreams, while maintaining a stable, fiscally responsible environment. Thank you for your support of our Credit Union. Together, we will grow into the future and remain committed to being community connected.
Albert Perez, Board Chair
I would like to take this opportunity to express the pride that I feel in being a member of WesTex Federal Credit Union. We are truly blessed to be part of such a great organization that is located in such a friendly and prosperous place known as the South Plains. You and I are served by a group of highly dedicated staff that puts customer service and serving our financial needs at the top of their prior-ities. We would like to thank the members for their patience and continued support during these unprecedented times. With the challenges that COVID- 19 presented this last year, our credit union continued to remain stable.
We ended 2020 with a net income of $169,297.72 and our total assets grew to $82,898,687.24. We made 1,081 loans totaling $9,721,329.07. We truly appreciate your continued membership and look forward to serving you for years to come.
Justin Koontz, 1st Secretary/Treasurer