Important Notices
NOTICE OF AVAILABILITY OF DOCUMENTS & COMPLAINT NOTICE
DOCUMENTS
Credit Union documents are available upon request. Members are entitled to review or receive a copy of our most recent statement of financial condition, annual audit summary, IRS Form 990 and credit union bylaws. Requests should be submitted to:
Highway District 9 Credit Union
2417 Columbus Avenue
Waco, Texas 76701
COMPLAINT NOTICE
If you have a problem with the services provided by this credit union, please contact us at:
Highway District 9 Credit Union
2417 Columbus Ave.
Waco, Texas 76701
Phone: 254-756-6331
Email: info@hwydist9.com
The credit union is incorporated under the laws of the State of Texas and
state law is subject to regulatory oversight by the Texas Credit Union
Department. If any dispute is not resolved to your satisfaction, you may also
file a complaint against the credit union by contacting the Texas Credit
Union Department through one of the means indicated below:
In-Person or U.S. Mail:
914 East Anderson Lane, Austin, Texas 78752-1699
Telephone Number (512) 837-9236
Facsimile Number (512) 832-0278
Email: complaints@cud.texas.gov
Website: www.cud.texas.gov
2025 Holiday Schedule - Office Closed
| New Year’s Day | Wednesday, January 1st |
| Martin Luther King, Jr. Day | Monday, January 20th |
| Presidents’ Day | Monday, February 17th |
| Good Friday | Friday, April 18th |
| Memorial Day | Monday, May 26th |
| Juneteenth | Thursday, June 19th |
| Independence Day | Friday, July 4th |
| Labor Day | Monday, September 1st |
| Columbus Day | Monday, October 13th |
| Veteran’s Day | Tuesay, November 11th |
| Thanksgiving | Thursday & Friday, November 27th & 28th |
| Christmas | Wednesday, Thursday, & Friday Dec. 24th, 25th. & 26th |
Board of Directors and Staff
| Name | Position | Term Expiration |
|---|---|---|
| Janis Guest | Chair | 2027 |
| David Swinson III | Vice-Chair | 2025 |
| Charlie Phillips | Director | 2025 |
| Eric Olivas | Director | 2027 |
| Kitty Powledge | Secretary/Treasurer | 2025 |
| Rachel Reavis | Manager | |
| Lorie Walts | Clerk |
A Message from our Chair
Welcome to the 71st annual meeting of the Highway District 9 Credit Union. I commend all of you for taking an active
interest in our credit union’s one-member, one-vote structure and philosophy. I am Janis Guest, the chair of the Board of
Highway District 9.
As you will see in the Annual Report, Highway District 9 performed quite well in the calendar year 2024. Here are some
highlights from that report:
- Highway District 9 continues to be a well-capitalized financial institution, with a strong net worth ratio of 25.21
percent. To put this into perspective, a net worth position above 7 percent is considered well-capitalized by our
regulators. - In total, our 720 members have added more than $3,031,168 to their savings accounts. While this is less than we
initially anticipated, it is understandable since some of you faced challenges in saving due to inflation, changes in
the job market, or other financial demands. However, the good news is that we are seeing a positive turnaround
across the entire country. - You, the member-owners of this institution, have borrowed more than $1,726,753, resulting in the addition of
over 103 new loans in 2024. This reflects general optimism in our economy and trust in your credit union, for
which we thank you. - Auto buying slowed across the country due to inventory shortages that drove up vehicle prices. We are pleased
to note that despite rising prices and monthly payments, our members are generally keeping up with their
payments. - Higher prices motivated many of you to purchase previously owned vehicles. In 2024, Highway District 9 issued
35 auto loans for pre-owned vehicles totaling more than $324,426.
While the credit union needs to make a profit to continue operating, our primary interest is serving our members.
Whenever possible, in line with our credit union mission, we will distribute profits back to you.
Last year, Highway District 9 performed so well that we generated $4,285 in net income for the 12 months ending
December 31, 2024. As a result, we were able to pay out semi-annual dividends to our members totaling $43,305,
averaging $60 per member.
These dividends were deposited into member share accounts and reflected on their statements. This is just one way our
members can enjoy the benefits of belonging to a credit union.
I want to acknowledge my fellow board members for their dedication to our credit union. Together, we ensure that we
have a capable and transparent management team, which is vital for the well-being and prosperity of Highway District 9.
Our diverse board brings a wealth of financial and executive expertise, which has been invaluable to our credit union. I
have strong faith in our manager, Rachel, the guidance of our board, the commitment of our staff, and the support of
our member-owners. With our solid performance, I believe we are well-positioned to tackle challenges and seize
opportunities in 2025.
Thank you, ladies and gentlemen. I wish you and your families all the very best.
Cordially,
Janis Guest
Chair of the Board
A Message from our Manager
Good evening, everyone. I’m Rachel, the manager of Highway District 9 Credit Union. It’s truly a pleasure to welcome
you to our 71st annual meeting. I appreciate your commitment to being here today, and I’m looking forward to sharing
this important moment with all of you.
As you know, one key reason credit unions differ from other financial institutions is that you are at the heart of it all. Our
members are also our owners, and we are accountable to you. As a member-owner, your decisions matter, and your
participation through voting is vital. Staying informed about the current state of Highway District 9 enables you to make
well-informed choices that benefit us all. Thank you for taking the time out of your busy schedule to be here and play an
active role in your local credit union!
Though the pandemic is now in our rearview mirror, its impact continues to be felt—not only as a health concern but
also in how it forced us to develop new solutions for nearly every aspect of our operations. Because of these challenges,
our members have come to value how their credit union has supported them over the past several years with minimal
disruptions.
The outlook for credit unions in Texas is promising. According to the Credit Union National Association’s 2024 mid-year
report:
• Texas is home to 402 credit unions, with a total membership of 10,538,328, representing a 7.6% market share of
deposits in the state. This is a growing, though still relatively small, portion of Texas’s financial sector.
• Our average loan interest rates are significantly lower, providing substantial savings to our members—often by a
percentage point or more. For example, the average used auto loan rate is 6.33%, compared to a bank’s average
of 7.48%.
• Highway District 9 has $4,096,993 in assets serving 720 member-owners.
investments. This allows us to pass profits on to our members in the form of lower loan interest rates, higher yields on
savings, and fewer or lower fees.
participation and input of members like you!
environmental concerns. Addressing these requires our dedicated teamwork. Embracing the digital landscape will also
enhance our services for you and the community. At Highway District 9, your credit union, your input is vital to our
success.
Rachel Reavis
Manager
Treasurer's Report
I am pleased to announce that the Highway District 9 Credit Union is secure and stable,
exceeding the “well-capitalized” standards set by the National Credit Union Administration
(NCUA). At the end of the year, our credit union’s assets surpassed $4 million. By prioritizing
excellent member services and sound financial practices throughout 2024, Highway District 9
remains dedicated to fulfilling its mission.
The NCUA requires Highway District 9 to submit a comprehensive financial report every
quarter. This report allows credit unions to compare their performance against industry
standards and their peers. I am happy to report that our credit union concluded 2024 with a net
worth ratio exceeding the regulatory requirement of 7 percent. By the end of the year, Highway
District 9 was classified as a “well-capitalized” institution, boasting a net worth of 25 percent of
total assets.
At the year’s close, the credit union’s total assets reached $4,096,993. Of this amount,
$3,031,168 was in shares, while total loans amounted to $1,726,753, which includes an
allowance for future loan losses of $25,000. Total investments were valued at $2,082,781.
For the year 2024, the total income was $220,020, and the total expenses were $215,736,
resulting in a net gain of $4,285. Our reserves and undivided earnings stood at a solid
$1,032,715.
For more detailed information regarding our overall results for 2024, please refer to the
enclosed financial statements.
Highway District 9 Credit Union empowers its members through consistent and effective
financial assistance. This is achieved by enhancing the quality of existing services and
introducing new offerings for the benefit of our members. The credit union is currently in good
health and is committed to maintaining its safety and soundness while enhancing value for our
members. We anticipate a promising year ahead in 2025.
Respectfully submitted,
Katherine “Kitty” Powledge
Treasurer
Audit Report
My name is Jerry Brockington, Sr., and I am responsible for overseeing the financial health of
Highway District 9 Credit Union. I work closely with the Board of Directors to ensure our
financial reporting, internal controls, audit processes, and compliance with laws are strong and
effective. I also address member concerns and ensure our financial statements clearly show the
credit union’s financial position.
We conduct regular internal audits and regulatory examinations to maintain our high
standards. I have completed our annual internal audit and a Bank Secrecy Act (BSA)
examination. On April 4, 2024, the National Credit Union Administration (NCUA) and the Texas
Credit Union Department finished their latest examination, which was effective as of December
31, 2023. We reviewed the findings in detail with the Board of Directors.
After reviewing the examiners’ reports, I can confidently say that Highway District 9 Credit
Union is in excellent standing. We are a key financial partner for the members of Highway
District 9, dedicated to offering essential services and innovative financial solutions to our
membership. We aim to provide quality services at competitive rates and continually improve
our offerings. Our team is passionate about enhancing member lives through superior financial
services, which drives our work.
I am here to assist our credit union members with any questions or concerns they may have. I
encourage members to check their statements, report any irregularities, and keep their
addresses up-to-date with the credit union. For help, please contact the Supervisory Committee
of Highway District 9 Credit Union at 2417 Columbus Avenue, Waco, Texas 76701.
Sincerely,
Jerry Brockington, Sr.
Internal Auditor
Where is your statement going to go?
UPDATING CONTACT INFORMATION
Your financial business is important, and it should remain secure. If you have recently changed
your location or are planning to, please contact us with your updated information.
Keeping your address and phone numbers current serves three crucial purposes:
Notification of Important Changes – Any updates to your account will be communicated to you
in writing. Without a current address, you may miss vital information that could affect your
finances.
Preventing Identity Theft – We send your statements and disclosures to the address we have on
file. If you no longer reside at that address, sensitive information could be intercepted by
unauthorized individuals, increasing your risk of identity theft.
Cost Savings – If our mail continues to be returned due to an outdated address, we still incur
postage costs. Even incorrect addresses for just one percent of our members can result in
several thousand dollars in expenses each year. Since credit unions operate on a not-for-profit
basis, these additional costs directly impact the products and services we can provide to you.
Please keep your information up to date to ensure your financial safety and efficiency.
MEMBERS’ ACCESS TO CREDIT UNION DOCUMENTS
Documents Available to Members. Upon request a member is entitled to review or receive a copy of the most recent version of the following credit union documents:
- Balance sheet and income statement (the non-confidential pages of the latest call report may be given to meet this requirement);
- A summary of the most recent annual audit completed in accordance with §91.516 of this chapter (relating to Audits and Verifications);
- Written board policy regarding access to the articles of incorporation, bylaws, rules, guidelines, board policies and copies thereof; and
- Internal Revenue Service Form 990
Questions?
Your statement should be carefully examined. If you need to update your account, the credit union can assist you. Alternatively, you can contact Jerry Brockington, Internal Auditor of Highway District 9 Credit Union, at 1117 Pawnee Drive, Waco, Texas 76705.
HIGHWAY DISTRICT 9 CREDIT UNION
EXPENSE STATEMENT AS OF DECEMBER 31, 2023
HIGHWAY DISTRICT 9 CREDIT UNION
STATEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 2023
Valuable Information:
FAMILY MEMBERSHIP
When you join Highway District 9 Credit Union, your immediate family members are also
eligible to become members. Credit union membership is a true “family affair,” and many of
our members take pride in sharing the benefits with their loved ones. You and your family will
enjoy a variety of advantages, such as saving money, earning higher interest rates, and paying
the lowest possible fees.
| Eligible Family Members: | |||
|---|---|---|---|
| Mother | Father | Brother | Sister |
| Children | Grandchildren | Step Mother | Step Father |
| Step Children | Step Brother | Step Sister | Father in Law |
| Mother in Law | Brother in Law | Sister in Law | Grandmother |
| Grandfather | Spouse | ||
RATE MATCH PROGRAM
We understand that you trust your credit union to provide you with excellent member service
and financial products to help you achieve your financial goals. However, when it comes to
selecting a lender, it may be necessary to consider the interest rate, regardless of who provides
the financing. But now, with our rate match program, you don’t have to look any further! Even
if you already have a loan from another lender, you can still save money by bringing that loan to
Highway District 9. Additionally, if you have found a lower interest rate for a new loan from
another lender, we would be happy to provide you with a rate match offer.
With our Rate Match Program, you can keep your business with your trusted, local credit union,
and still get the best rate around. Eligible loans for the Rate Match Program Include:
- Auto loans (cars, trucks, vans)
- Recreational loans (motorcycles, boats, RVs, etc.)
- Other personal loans
We Accept Payroll Deposits, Debit Cards, and Bill Pay!
Highway District 9 is proud to offer a range of innovative electronic services designed to make
your experience seamless and enjoyable. With just a few clicks, you can effortlessly make
payments for your installments and deposit your shares online through our user-friendly
website.
Discover the full spectrum of programs and services available at Highway District 9 by visiting
our website at https://www.hwydist9.com. We’re here to support you every step of the way!
