Annual Report.indd - Liberty Online

You work hard for your money
We work hard for You!
Pelican State
c r e d i t u n i o n®
2008 Annual Report

Table of Contents
2..........Mission Statement
3..........Branding Strategy
4..........Financial Literacy Workshops
5..........Message from the Board Chair
6..........Board of Directors
7..........Message from the Chief Executive
8-9.......Management Team & Staff
10........Employee Committees
11........2008 E-Commerce Report
12........2008 Loan and Deposit Comparisons
& 2008 Loan Portfolio
13........2008 Income Statement
14........2008 Statement of Condition
Our Volunteer Board of Directors approved
a Special Member Dividend of $125,000 back
to qualified Member-owners, despite the
tough economic conditions!

Mission Statement
Not for profit, but for service...
“To enhance the financial welfare and social
responsibility of the membership by providing safe,
competitive, economically sound products and
educational service through professional management and
competent staff, under a democratic Board of Directors.”
It Pays to be
Financially Fit!
The Little Guy was created
by CUNA. Call your Congressman and
share your support for the credit union movement!
2

Branding Strategy
Brand Image:
Brand image is the make up of all experiences and impressions our members have with our brand. This includes
all interactions at our branches, on the phone or on the Web, as well as any contact with our sales tools and
communications. The more concise, constant and consistent we are with our brand image at all levels of the
organization, the stronger our brand image.
Brand Story:
We don’t just “quote” our mission; we act on it every day. We have a proven record for empowering our
members through financial literacy workshops, newsletters, partnerships within the communities and SEGs.
We have offered Special Member Dividends to our members just because they chose to do business with us.
Brand Promise:
Pelican State Credit Union’s brand promise is to maintain an enhanced product line, hands-on educational
workshops, sophisticated technology and the resources and tools our members need to succeed financially and
enjoy a better and healthier lifestyle.
“Your brand is the tangible component of your company that gives
members a compelling reason to do business with you,
instead of the competition - it’s your promise to your members.”
-Author Unknown
Voted Strongest Brand
Bancography named Pelican one of the top
five strongest brands in the country among
credit unions under $1 billion in assets.
Bancography is a financial marketing firm that researches which institutions have successfully bonded
with their consumers in terms of image, service quality and other tangible factors.
3

Financial Literacy Workshops
Further fulfilling its mission and the credit union philosophy of ‘people helping people’, Pelican traveled the
state to offer free, full service Financial Literacy Workshops that included one-on-one credit counseling,
analysis of credit reports, budget training and savings planning.
In 2008, Pelican hosted 24 Financial Literacy Workshops and pulled credit reports for over 700 members and
non-members. Topics included:
6 Ways to Improve Your Credit
Community Events:
5th Annual Kids Bike Race
Zachary Schools Fundraiser
Pineville Youth Fundraiser
Boy Scouts of America Fundraiser
March of Dimes Walk
Relay for Life Walk
Opelousas General Hospital Foundation
Don’t Be a Victim
Make Your Money Grow
Using Credit Cards Wisely
4

Message from the Board Chair
Linda Brassette
Chairman of the Board
The year 2008 was one of growth and achievement for our credit union.
Early in the year, the Board of Directors and Management Team met to
review the Strategic Plan and continue the development of our governance
policies, thus mapping our 2008 course and direction. As the year
progressed, the economy declined monthly, which negatively impacted our
membership and placed new financial demands upon us. Gas prices, layoffs
and general economic downturns resulted in increased delinquency.
Additional funding was required for loan reserves based upon our projected
future loan losses. The direct impact of all these items was an increase in
expenses, which was unanticipated and unbudgeted.
Despite these negative impacts and the growth of a difficult economic
climate, we fulfilled our commitments to provide members with the best
possible products, services and interest rates for both loans and
deposits. Staying the course presented in our Strategic Plan, the
Management Team worked diligently to overcome the additional financial
impacts to our budget. Thus, at the October meeting of the Board of
Directors, the Board unanimously declared a Special Member Dividend of
$125,000 to be paid back to our membership.
Thanks to all the volunteers who gave so freely of their time and talents to serve Pelican State Credit Union. I appreciate the many hours
you selflessly gave and the incredible gift of knowledge you brought. I have enjoyed working with each of you this past year. It has been
my privilege to serve the membership of Pelican State Credit Union and I wish it continued success.
In Loving Memory of:
Gary S. Grand
1943 -2008
21 Years of Service
George E. Bostick
1941 -2008
30 Years of Service
WHEREAS, the Board of Directors of Pelican State Credit Union extends her or his personal appreciation for a
job well done and for the leadership that Gary S. Grand and George E. Bostick have exhibited throughout their
years of service to the Credit Union, and extends to their families, the condolences of a Board which will be
forever grateful and appreciative for leaders who contributed so much to the success of the Credit Union.
5

Gary Crockett
Director
1st Vice President
William Coffey
Director
Board of Directors
Emeritus Directors:
Alex Bourgeois
Roy Bostick
Austin Glass
John London
Joseph Martinez
Edwin Wright
Supervisory Committee:
Ken Corkern
Larry Dorsey
Sue Tolbert
Samuel McDaniel
Director
2nd Vice President
David Colvin
Director
Bob Wilson
Director
Treasurer
Aryon McGuire
Director
Lorain Cazenave
Director
William Mullinnix
Director
6

Message from the Chief Executive
The year started out as normal, but as summer approached we knew we had
some difficult challenges facing the management team and staff. Our
objective, as always, is to focus on our mission statement and bring it home to
our members with higher levels of member service and better rates on loans and
deposits. The Board of Directors provided their guidance through our strategic
plan. Executing the plan in the ailing economy was management’s challenge.
Delinquency and charge off trends both escalated, diminishing our loan returns
and increasing expenses.
Our “Brand” was already established and recognized by our membership based
upon our history of success in service delivery, community participation,
borrowing opportunities and the return of higher than average dividends. We
rolled out a staff campaign to all 130 employees titled, “Mission 08: Possible”.
Our objective was to generate momentum and excitement among the staff
which would deliver the mission statement as promised, despite any negative
economic factors. We embraced and recognized the need for change when
Jeffrey K. Conrad
solutions were not working. We met monthly to modify strategies, analyze
trends and determine the best course of action.
Chief Executive Officer
We also created an employee committee named the Beak Squad. The Beak Squad became the voice of all employees, to share ideas and thoughts on how
to better serve our members. Some of the best ideas often come straight from the member-employee interaction. We realize that it takes every employee
at Pelican, working as a Team to deliver the service our members have come to expect and which created our brand.
I am proud to state that we excelled at reaching our goals in our campaign. The Mission 08: Possible was successful despite unplanned economic
impacts. The reason we were successful is because of YOU. Our success and vision depends upon our members. It is through the active usage of
products and services that our members keep the credit union alive, prosperous and growing. Our mission is to improve all of our member’s financial
condition…not just a few stockholders. With over 150 million in assets, 8 branches, 12 ATMs and over 28,000 members, our focus and vision remains to
be “Your Credit Union of Choice.”
Credit Union National
Association (CUNA) Awards:
The Mission 08: Possible Internal Campaign won
Pelican a National Merit Marketing Award.
Campaigns are judged by a panel made up of
industry peers who belong to CUNA.
7

Sonya Allen
Marketing &
Business Development
Paige Corcoran
VP of E-Commerce
Lisa Cupit
Operations
Jennifer Mounts
Zachary
Management Team
Ronnie Stephens
Senior Vice President
Stephanie Cartwright
Compliance
Dan Henry
Operations
Heather Norris
Alexandria
Michael Morgan
VP of Information Systems
Sharon Collins
Facilities
Melanie Wheeler
Operations
Christy Pentz
Pineville
Dannakia Dunn-Bougere’
Member Services
Michelle Ford
Human Resources
Rechelle Austin
Call Center
Willie Porter
Mid City
Lindsey Richard
VP of Operations
Annette Thames
Senior Vice President
Charlie Moore
Collections & Lending
Brandy Guerra
Chalmette
Katherine Scales
Jackson
Melissa Ott
Accounting
Rachel Hollier
Opelousas
Toi Sibley
Floater
Paul Waild
VP of Mortgage &
Business Lending
Kim Saia
Electronic Services
Johnette Mauldin
Denham Springs
Cynthia Vessel
Baton Rouge
8

PSCU-What a Great Place to Work!
Misty Adamo
Mike Atkinson
Sarah Barnett
Susan Bear
Brittany Bell
Kimberlyn Belone
Teresa Bercegeay
Debra Bergeron
Kathy Burns
Carmen Burton-Williams
Melissa Cameron
Arielle Cannon
Christy Cassels
Akilah Clark
Ashley Collett
Melanie Cotchery
Philip J. Davis
Philip Davis
Nicole Dearman
Janine DeMari
John Denman
Lynn Dogan
Sonya Ebey
The People Who Make It Happen
Kimberly Elliott
Karen Ewing
Laurie Faul
Aloma Fauria
Jori Fauria
Sherry Garcia
April Gomez
Tianna Gradney
Danielle Greenhouse
Brandy Gueho
Samia Guilbeau
Kalyn Guillory
Leigh Hargoder
Robinette Harleaux
Manuella Harrison
Stephanie Herring
Marlin Hollins
Ladonne Hood
Vera Howard
LaRonica Humphrey
Ina Hyde
Katie Hyde
BJ Jackson
Employee Events:
Annual Picnic
Christmas Party
Mission 08: Possible
Latrista Jackson
Viola Jackson
Tammie Johnson
Nekiba Johnson
Ta’Kietha Johnson
Chanelle Jones
Benisha Jones
Renee Kozak
Sheri LaFleur
Karen Lands
Brandy Lee
Nancy Lemon
Brandi Lewis
Sharon Lewis
Christian Matherne
Cathy Matthews
Kasey May
Jennifer McAlister
Dena Mealey
Terra Miller
Katrina Morris
Stephanie Nellon
Dawn Noble
Brenda Norflin
Jessica Oliver
Krystal O’Neal
Justin Owens
Melanie Pace
Roeshay Patrick
Dawn Peck
Christy Pentz
Becky Peters
Mary Ann Peterson
Kathy Phelps
Kyle Primes
Matthew Rabalais
Jeremy Rayburn
Jean Reed
Nicole Richard
Takisha Richard
Carol Robin
Katherine Rogers
Lilshalle Rome
Brooke Romig
Alyssa Rountree
Sarah Scott
Iris Scott
Toi Sibley
Angie Simmons
Patsy Smart
Penny Spradley
Bridgette Spriggs
Brandi Talkington
Jason Thomas
Simona Titus
Kaya Tomlinson
Aisha Troxclair
Melissa Turner
Danielle Washington
Carletria Wheeler
Ashley Williams
Shandra Williams
Corinda Winfree
Deborah Wright
Kellye Wright
Lawanda Young 9

Lisa Cupit
Coworker Service Award
Employee Committees
The Beak Squad
Beak Squad Members, one employee from each department, work
together to provide the service, communication and participation needed
to meet the goals set by management. They have become the voice of all
employees and share thoughts on how to better serve our members.
The Product Development Committee
The Senior Management Team and a group of creative employees and
managers, meet monthly to review and improve our current products and
services and propose new product and services for our members in
accordance with our strategic planning goals.
The Scholarship Committee
The Scholarship Committee is made up of employees who are
responsible for promoting the scholarship program, grading applications
fairly and coordinating scholarship recipient presentations.
Bryan Gerace
Shining Star Award &
Company Clown Award
Melanie Cotchery
Member Service Award
10
Sonya Allen
Employee of the Year Award

2008 E-Commerce Report
Audio Response
Share Transactions
Loan Transactions
Minutes Used
Calls
Average Call Length
e-Access
Share Transactions
Loan Transactions
Log On’s
Loan By Phone
# of Applications
Internet Loans
# of Applications
PSCU Web site
# of Hits
PSCU ATM’S
# of Transactions
ACH Transactions
# of Items
ACH Origination
# of Items
e-Pay
# of Bills Paid
Debit Cards
Total Cards
December 2007
2,385
150
43,372
28,164
1.54
8,442
1,343
40,296
1,473
40
138,800
18,892
22,658
544
766
8,586
$500 Scholarships:
Brooke Richard - Baton Rouge
Jolie Dubriel - Call Center
Cali Crain - Denham Springs
Corey Conner - Jackson
Chanda Gauthier - Opelousas
Melinda Victor - Pineville
Hannah Parsons - Zachary
Marlin Hollins - Employee
December 2008
2,779
184
82,744
47,554
1.74
12,328
2,130
50,150
1,772
68
193,381
20,951
29,997
756
1,445
10,935
Annual Growth
394
34
39,371
19,390
0.2
3,886
787
9,854
299
28
54,581
2,059
7,339
212
679
2,349
11

2008 Loan and Deposit Comparisons
Pelican granted 4,462 loans in the amount of $55,859,566
while our peer groups averaged 2,781 loans in the amount
of $44,391,016.
4,462
2008 Loan Portfolio
Pelican paid out $3,776,320 in dividends while our peer
groups averaged $2,997,357.
Peer ratios were obtained from the NCUA Financial Performance Reports, 12/31/08 - extracting Credit Unions $100M-$200M in assets with 8-11 branches with mixed SEG and
geographical fields of membership.
Secured
P
E LI
C
A
N
2,781
P
E
E
R S
Commercial
Visa
Unsecured
Mortgage
$3,776,320
P
E LI
C
A
N
$2,997,357
60% more! 26% more!
One measurement of a truly well managed credit union is the
ratio of loans divided by deposits, the efficient use of member
deposits to make member loans.
Pelican
94%
P
E
E
R S
Secured....................50%
Mortgage.................26%
Unsecured...............13%
Visa...........................9%
Commercial..............2%
Peers
86%
The segregated Loan Portfolio represents the
different loan types and the percentages of the
dollar amount in each category.
12

2008 Income Statement
Income
Interest on Loans
Interest on Investments
Fees and Charges
Other Income
Investments Gain/Loss
Total Income
Expenses Salaries and Benefits
Travel & Dues
Maintenance of Buildings
Rent Expense
Communications
Furniture & Eqt. Maintenance
Supplies, Forms & Statements
Bond Insurance
Depreciation
Corporate Service Charges
Other Office Operating Expenses
Educational & Promotional
Loan Servicing Expenses
Professional/ Outside Services
Member Insurance
Operating Fees
Other Operating Expenses
Provision for Loan Losses
Dividend Expenses
Total Expenses
Net Income
Charity Events:
Susan G. Komen Race for the Cure
CU Fundraiser for Habitat for Humanity
St. Jude Children’s Hospital Telethon
Toys for Tots Toy Drive
Thanksgiving Food Drive
Boys Hope Girls Hope Fundraiser
11,660,922.65
433,481.02
5,173,104.49
997,170.13
(56,200.57)
18,208,477.72
6,275,365.20
231,392.17
470,215.53
500,474.20
688,873.20
400,686.56
261,163.18
134,624.15
867,962.74
13,508.77
751,691.10
162,850.75
229,079.33
221,555.45
940,891.09
41,249.00
39,400.00
1,569,772.61
3,776,319.74
$ 17,577,074.77
$ 631,402.95
13

2008 Statement of Condition
Assets
Liabilities
Equity
Cash
Investments
Mortgage Servicing Rights
Auto Servicing Rights
Loans
Mortgage Loans Sold
Auto Loans Sold
Net Loans
Accounts Receivable
Allowance for Loan Loss
Prepaid Assets
Fixed Assets
Other Assets
Total Assets
Dividends Payable
Taxes Payable
Employee Insurance Payable
Accounts Payable
Other Liabilities
Total Liabilities
Member Shares
Regular Reserves
Undivided Earnings
Unrealized Gain/Loss
Total Reserves
Total Equity
Total Equity & Liabilities
7,866,728.99
7,913,605.50
12,862.69
7,008.56
132,378,685.59
(1,303,042.85)
(1,910,346.14)
129,165,296.60
108,195.37
(1,060,029.98)
217,193.40
5,393,356.17
1,752,545.93
$ 151,376,763.23
259,750.62
2,923.64
11,551.01
951,818.03
52,110.63
$ 1,278,153.93
137,270,884.53
4,701,161.49
8,112,170.55
14,392.73
12,827,724.77
150,098,609.30
$ 151,376,763.23
*In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Pelican State Credit Union as of December 31, 2008, the
consolidated financial position of Pelican State Credit Union and Subsidiary as of December 31, 2007, the consolidated results of its operations and its cash flows for the years then
ended, in conformity with accounting principles generally accepted in the United States of America.
14

Baton Rouge Branch
11585 Lake Sherwood Ave., N
Baton Rouge, LA 70816
Phone: (225) 408-6100
Mid City Branch
450 North Lobdell Blvd.
Baton Rouge, LA 70806
Phone: (225) 927-1733
Pelican State
c r e d i t u n i o n®
Your Credit Union of Choice sm
Denham Springs Branch
145 Rushing Rd.
Denham Springs, LA 70726
Phone: (225) 791-5393
Pineville Branch
725 Main St.
Pineville, LA 71360
Phone: (318) 449-3553
1-800-351-4877
www.pelicanstatecu.com
Opelousas Branch
611 E. Prudhomme St., Ste. 1
Opelousas, LA 70570
Phone: (337) 948-3238
Jackson Branch
2919 Hwy. 10
Jackson, LA 70748
Phone: (225) 634-5205
Chalmette Branch
500 W. St. Bernard Hwy
Chalmette, LA 70043
Phone: (504) 281-1346
Zachary Branch
5810 Main St., Ste. 10
Zachary, LA 70791
Phone: (225) 658-5377