National Credit Union Administration, a U.S. Government Agency

Your savings fedreally insured to at least $250,000and backed by the full faith and credit of the United States Government

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UNITE D CRE DIT UNION MEMBE R SE RVICE CE NTE RS

CHICAGO WEST4444 S. Pulaski Rd.

Chicago, IL 60632-4011773-376-6000

CHICAGO NORTH5901 N. Cicero Ave., Ste. 106

Chicago, IL 60646-5711773-843-8500

CHICAGO EAST1526 E. 55th St.

Chicago, IL 60615-5550773-843-8900

OUTSIDE ILLINOIS1-800-848-3444

WEBSITEwww.unitedcreditunion.com

E-MAILunitedcu@unitedcreditunion.com

MEMBER EDUCATION SEMINARSMay-June, 2016United Credit Union is committed to providing its members, at no cost, quality �nancial education which is essential in this day and age. These educational seminars cover relevant and important topics for our members.

MEMBER’S ACCT # PHONE #MEMBER’S NAME

ADDRESS CITY/TOWN STATE ZIP

EMAIL ADDRESS GUEST NAME

United Credit UnionEducation SeriesAttn: Maritza Martinez-Duarte4444 So. Pulaski Road, Chicago, IL. 60632-4011email: mduarte@unitedcreditunion.com

Limit one guest. Mail coupon to:

REGISTRATION / CONTINENTAL BREAKFAST, 8:30AM-9:00AM SEMINAR, 9:00AM

LOCATION: MEMBER SERVICE CENTER (WEST) 4444 S. PULASKI RD. (COMMUNITY ROOM)

Thank you for your cooperation.

SATURDAY, MAY 14, 2016 RETIREMENT INCOME STRATEGIES

SATURDAY, JUNE 4, 2016, POWER OF ATTORNEY

SATURDAY, JUNE 25 2016, RETIREMENT PLANNING

SATURDAY, JULY 25,, 2016, LONG-TERM CARE

Saturday, May 14, 2016

Saturday, June 4, 2016

Saturday, June 25, 2016

Saturday, July 25, 2016

RETIREMENT INCOME STRATEGIES

POWER OF ATTORNEY

RETIREMENT PLANNING

This program focuses on the new retirement realities and how the essential income planning process can help attendees address the �ve risks associated with retirement: longevity, healthcare, in�ation, investment and withdrawal.

Learn and understand when a Power of Attorney is needed and how to prepare it

• Calculating the cost of retirement• Determining sources of income• De�ning the role of Social Security• Taking advantage of a workplace plan

• Calculating the cost of long-term care• Identifying the four ways to pay for long-term care• Evaluating long-term care insurance providers

CHECK SEMINAR(S) YOU WISH TO ATTEND:

LONGTERM CARE

United Credit Union is … “Your Financial Partner for Life”VOLUME 41 , NO. 2 SPRING 2016

Friday, May 20, 2016, 10:00 AM to 6:00 PM

and Saturday, May 21, 2016, 9:00 AM to 2:00 PM

At United Credit Union, 4444 S. Pulaski Road, Chicago, Illinois 60632

100% FINANCING

UP TO 60 MONTHS

2013- 2016models (1)

1.75Rates as low as…

Come Join Us! Don’t miss our Annual On-Site Car Sales Event!

OVER 50 2013 , 2014, 2015

AND 2016 MODELS TO CHOOSE FROM

When you join United Credit Union, you may remain a member for life–even when you retire, leave your employment or change careers outside your general field of membership. For more information on United Credit Union membership and benefits call 800/848-3444 now! Once a member, always a member! (1) All United Credit Union loans and finance options are subject to member qualification and credit approval. All rates, conditions, programs and terms are subject to change without notice. 100% financing for up to 60 months on 2013-2016 models. Rate includes .25% for Direct Deposit, Payroll Deduction or ACH payment method, .25% for 20% or more down payment, and .25% for pre-approval. Rates are valid from June 1, 2016 through June 31, 2016 . APR will vary with the term of the loan. (2) For a period of seven days beyond the date of purchase or, 1000 miles beyond the odometer reading at delivery(whichever comes first), the vehicle may be returned for the exact price originally paid minus a $200 documentation and cleaning fee. Certain restrictions apply. (3)Limited warranty begins on the vehicle purchase date and extends for 12 months or 12,000 miles beyond the odometer reading at delivery (whichever comes first). Certain restrictions apply. For details, see an Enterprise Car Sales manager on sale date. *The loan rate of 1.75% applies to a loan term of 48 months or less.

• Trade-Ins Welcome• Superior Friendly Service• Affordable Low Prices

• 7 Day Re-Purchase Agreement (2)• FREE - 12/12 Limited Power Train Warranty (3)• Extended Service Agreement Available

• Fully Equipped Vehicles with Popular Options• All Prices Clearly Marked

Get pre-approved for your vehicle purchase, before you shop!

• If You Are Not a Member - JOIN NOW!• Get Your Pre-Approval Today!• Choose From Many Late Model Vehicles

CALL (866) 855-5452www.enterprisecarsales.com

United Credit Union 40th Annual On-site

For every vehicle purchased from Enterprise and financed with United Credit Union during this car sale, United Credit Union will deposit $100.00 into your savings account.

The deposit will be made after the 7 day re-purchase agreement expiration.

Now is a GREAT TIME to Purchase a new home or re�nance your existing mortgage with UNITED CREDIT UNION!Whether you're looking to purchase your first home, your next home, or refinancing your current home, real estate loans can be confusing. There's so much to consider: fees, inspections, points, appraisals, insurance requirements and more. We have revolutionized the mortgage process to make it quick, easy and more convenient for our members to apply.

United Credit Union offers a Great Mortgage Loan Program to meet the needs of our members. • Low Lender Fees • Competitive Rates • Convenience • Pre-approval process

Call United Credit Union Mortgage Professional, Maria Travis at 773-843-9491. She will be happy to speak with you to analyze your current situation, discuss your needs, and determine how we can best serve you in your mortgage quest.

United Credit Union Comparative Statement of Financial Condition

Years Ended December 31, 2014 and 2015

December 31, 2014 December 31, 2015

ASSETSCash $ 10,746,209.83 $ 20,818,617.00 Loans to Members $ 47,156,591.71 $ 62,275,466.87 Less:Allowance for Loan Losses (1,101,450.13) (1,303,897.84)

Net Loans $ 46,055,141.58 $ 60,971,569.03 U.S. Gov’t Agency Securities (Net): Held To Maturity - - Available For Sale $ 53,162,816.50 $ 35,864,239.37 Financial Institutions 47,634,916.77 45,273,000.00

Net Investments $ 100,797,733.27 $ 81,137,239.37 Receivables 295,337.26 545,790.24 Prepaid Expenses 178,940.89 70,217.72 Accrued Loan Interest Income 117,300.84 129,456.31 Accrued Investment Income 195,629.95 164,227.82 Accrued Other Income 8,600.00 7,400.00 Total Prepaid Expenses/Accrued Income $ 795,808.94 $ 917,092.09 Land $ 659,116.58 $ 659,116.58 Building & Parking Lot 3,860,279.86 3,860,279.86 Less: Allowance for Depreciation (2,808,573.30) (2,933,585.58) Net Land, Building & Parking Lot $ 1,710,823.14 $ 1,585,810.86 Furniture & Fixtures $ 1,414,503.37 1,447,978.82 Less: Allowance for Depreciation (1,232,629.22) (1,297,694.27) Net Furniture & Fixtures $ 181,874.15 $ 150,284.55 Data Processing Equipment $ 704,348.21 722,632.21 Less: Allowance for Depreciation (658,198.49) (674,615.39) Net Data Processing Equipment $ 46,149.72 $ 48,016.82 Leasehold Improvements (Net) 180,983.19 147,009.63 Total Fixed Assets 2,119,830.20 1,931,121.86 Construction in Progress - - Other Assets 1,520,567.63 1,601,063.56 Real Estate Owned - -

TOTAL ASSETS $ 162,035,291.45 $ 167,376,702.91

LIABILITIESAccounts Payable $ 60,964.91 $ 100,167.09 Dividends Payable 108.57 99.61 Liability Under Pension Costs - - Accrued Expenses 317,088.65 278,942.41 Deferred Income 9,026.17 5,654.23 Other Liabilities 31,206.99 45,191.31

TOTAL LIABILITIES $ 418,395.29 $ 430,054.65

MEMBERS’ SAVINGS & EQUITYRegular & Other Shares $ 91,677,945.18 $ 91,703,864.24 Certificates & IRA’s 21,686,274.14 33,102,704.48 Share Draft/Checking 16,627,309.09 17,661,593.00 Total Members’ Savings $ 129,991,528.41 $ 142,468,161.72 Reserves 14,163,296.37 14,163,296.37 Undivided Earnings-Pension (1,502,395.00) (619,015.00)Undivided Earnings 5,820,266.47 5,614,951.27 Unrealized Gain/(Loss) on Investments 55,670.94 (148,508.73)Net Income (205,315.20) (229,633.55) Total Equity $ 18,331,523.58 $ 18,781,090.36

TOTAL MEMBERS’ SAVINGS & EQUITY $ 161,613,896.16 $ 166,946,648.26

TOTAL LIABILITIES & EQUITY $ 162,032,291.45 $ 167,376,702.91

United Credit Union Comparative Statement of Income and Expenses

Years Ended December 31, 2014 and 2015

December 31, 2014 December 31, 2015

 AMOUNT % of TOTAL INCOME AMOUNT % of TOTAL INCOME

INCOME

Interest from Loans $ 2,746,111.83 55.42% $ 3,256,667.54 60.36%

Interest from Investments 947,379.67 19.12% 854,458.84 15.84%

Fees and Charges 1,120,183.92 22.60% 1,160,025.55 21.50%

Other 141,855.85 2.86% 124,169.49 2.30%

TOTAL INCOME $ 4,955,531.27 100.00% $ 5,395,321.42 100.00%

OPER ATING EXPENSES

Compensation $ 1,594,435.74 32.17% $ 1,556,205.17 28.84%

Employee Benefits 415,902.23 8.39% 333,183.19 6.18%

Travel and Conference 2,977.89 0.06% 21,404.49 0.40%

Association Dues 25,303.11 0.51% 4,606.21 0.09%

Occupancy 615,624.70 12.42% 623,043.93 11.55%

Office Operations 827,087.74 16.69% 927,432.34 17.19%

Education and Promotion 120,793.31 2.44% 108,670.45 2.01%

Loan Servicing 78,883.15 1.59% 42,286.19 0.78%

Professional Services 81,434.21 1.64% 94,947.69 1.76%

Provision for Loan Losses 563,000.00 11.36% 478,000.00 8.86%

Share Insurance Premiums (ESI) 2,965.09 0.06% 3,222.06 0.06%

Cash Over and Short 19,083.54 0.39% 25,341.94 0.47%

Annual Meeting 698.84 0.01% 568.41 0.01%

Messenger and Delivery 14,294.98 0.29% 15,387.18 0.29%

Miscellaneous Operating 372,666.12 7.52% 453,110.50 8.40%

TOTAL OPERATING EXPENSES $ 4,735,150.65 95.55% $ 4,687,409.75 86.88%

NET INCOME BEFORE DIVIDENDS $ 220,380.62 4.45% $ 707,911.67 13.12%

NON-OPERATING INCOME (EXPENSE) $ (70,179.02) -1.42% $ (3,140.53) -0.06%

NET INCOME BEFORE DIVIDENDS $ 150,201.60 3.03% $ 704,771.14 13.06%

DIVIDENDS $ 129,816.27 2.62% $ 117,278.72 2.17%

NET INCOME AFTER DIVIDENDS $ 20,385.33 0.41% $ 587,492.42 10.89%

Net Employee Pension Disbursement $ 1,276,921.86 23.67%

Real Estate Owned Expense $ 10,456.09 0.19%

NET INCOME $ 20,385.33 0.41% $ (699,885.53) -12.97%

United Credit UnionFive Year Review of Financial Position

(2011 - 2015)

2015 2014 2013 2012 2011

Total Assets $ 167,376,702.91 $ 162,032,291.45 $ 162,539,881.04 $ 150,504,549.03 $ 144,909,694.35

  % Increase (Decrease) 3.30% -0.31% 8.00% 3.86% 2.18%

Loans to Members 62,275,466.87 42,156,591.71 42,679,757.11 42,828,409.08 46,198,876.41

  % Increase (Decrease) 47.72% -1.23% -0.35% -7.30% -10.23%

Members’ Shares/Savings 148,237,286.42 143,236,460.38 142,468,161.72 129,991,528.41 124,240,799.47

  % Increase (Decrease) 3.49% 0.54% 9.60% 4.63% 2.10%

Reserves 18,709,361.84 18,377,435.78 18,781,090.36 18,331,523.58 18,814,640.98

  % Increase (Decrease) 1.81% -2.15% 2.45% -2.57% -0.52%

Number of Members 19,281 18,940 19,139 19,263 19,046

  % Increase (Decrease) 1.80% -1.04% -0.64% 1.14% -1.74%

Number of Accounts 30,323 29,654 29,969 29,307 30,352

  % Increase (Decrease) 2.26% -1.05% 2.26% -3.44% 0.48%

Number of Borrowers 3,367 3,223 3,157 3,459 3,665

  % Increase (Decrease) 4.47% 2.09% -8.73% -5.62% -15.16%

Number of Loans 4,011 3,971 3,825 4,157 4,377

  % Increase (Decrease) 1.01% 3.82% -7.99% -5.03% -14.86%

Investments:

  Held To Maturity $ 44,999,833.31 $ 35,400,000.00

  Available For Sale $ 35,864,239.37 $ 53,162,816.50 $ 56,634,320.66 165,472.82 306,661.70

  Financial Institutions 45,273,000.00 47,634,916.77 53,621,000.00 52,717,000.00 51,629,000.00

  Total Investments $ 81,137,239.37 $ 100,797,733.27 $ 110,255,320.66 $ 97,882,306.13 $ 87,335,661.70

  % Increase (Decrease) -19.50% -8.58% 12.64% 12.08% 10.60%

Interest from Loans $ 3,256,667.54 $ 2,746,111.83 $ 2,770,606.93 $ 3,044,811.90 $ 3,474,124.41

  % Increase (Decrease) 18.59% -0.88% -9.01% -12.36% -8.47%

Interest from Investments 854,458.84 947,379.67 712,353.78 838,996.27 1,294,562.93

  % Increase (Decrease) -9.81% 32.99% -15.09% -35.19% -1.61%

Total Income 5,395,321.42 4,955,531.27 4,843,797.05 5,468,056.21 6,458,330.23

  % Increase (Decrease) 8.87% 2.31% -11.42% -15.33% -3.81%

Total Expenses 4,687,409.75 4,735,150.65 4,816,297.35 5,160,018.64 5,794,730.75

  % Increase (Decrease) -1.01% -1.68% -6.66% -10.95% 2.86%

Dividends 117,278.72 129,816.27 210,612.14 320,724.84 456,597.46

  % Increase (Decrease) -9.66% -38.36% -34.33% -29.76% -42.91%

Net Income before Assessments 577,036.33 20,385.33 (183,112.44) (12,687.27) 643,452.46   % of Total Income 10.70% 0.41% -3.78% -0.23% 9.96%

NCUSIF $ (46,521.11) $ (76,008.45) $ (146,000.00)

Corporate Stabilization $ (116,619.48) $ (290,450.44)

Net Pension Adjustment $ 1,276,921.86

Net Income (Loss) after Assessments $ (699,885.53) $ 20,385.33 $ (229,633.55) $ (205,315.20) $ 207,002.02 % of Total Income -12.97% 0.41% -4.74% -3.75% 3.21%

Chairman’s Report-2015For the Board of Directors

technology and personnel. Our phone system is being upgraded, along with our various computer systems and programs, in order to speed up loan decisions, reduce cost, and aid in the delivery of our business growth!We have hired a new Executive Vice President, Mario Aguirre, and Operations loan executive, Maria Travis. We have added a new Associate Board Member, Shawn Mayberry, from the millennial generation. These changes, the first of many, are being made to increase our sphere of leadership in the community and the financial service industry. On a sad note, we are losing one of our stalwart Board Member, Mr. James Zagorski, Interim President/Treasurer. Jim has served on the Board for 30 plus years. His counsel and guidance will be missed, THANK YOU JIM!Jim’s replacement as Treasurer will be Mr. Kenneth Bolden who has numerous years of experience in the banking industry. We know Ken will continue to carry on Jim’s tradition of excellence.Finally, the members of the Board of Directors have a genuine concern for our members and their financial wellbeing. Regular Committee and Board meetings are held to give counsel to members and management to keep our credit union safe and sound. I thank them for their time, talent, good judgement and wisdom for a job well done. To our staff, we extend our appreciation for their genuine concern for the members in assisting them in their financial needs.ALL of the above transcribes into TIME, HONOR and TRUST.

“United Credit Union is your

Financial Partner for Life”Respectfully Submitted,

Dolphin S. HarrisChairman

Welcome to each of you. The year 2015 was a year of change, in the world and the financial service industry. But like President Barack Obama, I am happy to say that the State of our credit union, the United Credit Union is sound and in excellent shape. You will be hearing from various Departments and Board Members about our financial condition and the progress we have made, and although that is important, the essence of our business is still and always will be you our MEMBERS.Without your support and loyalty we could not exist! The Eighty-five years that our credit union has been in existence is a testament of the faith and loyalty of our membership. There are not many companies that can boast of this longevity. During the year 2015, we had to make the painful decision to close our Evergreen Plaza Office. This decision was not lightly made, and was beyond our control. The Evergreen Plaza went into receivership and was sold. The new owners of the plaza are in the process of remodeling and making decisions on what they want to do with the property. Because of your support we, the credit union was able to absorb every employee within the company that wanted to stay with us. We are currently looking in the Beverly Area for another location so that we may serve our far south membership.We have made and are making organizational changes to our

United Credit Union is excited to announce the following

New and Improved Products and Services. Coming Soon…

On the horizon!NEW WEB-SITE in progress. Updated -On-Line Home Banking.

NEW MOBILITY BANKING- members can conduct a range of financial transactions remotely using their personal mobile appliance.

IMPROVED E-STATEMENTS- an electronic version of your paper statement.  

NEW CHECK IMAGES - members can view their checks through e-statements.

IMPROVED BILL PAY - members can pay their bills electronically from their checking account. It’s fast, safe and convenient.

NEW POP-MONEY - members will be able to transfer funds from one financial institution to another.

NEW SHARED BRANCHING - a national network of credit unions from all over the country that share their facilities to give credit union members thousands of convenient locations to perform their financial transactions, just as if they were at their own credit union.

EMPLOYMENT AVAILABILITY- we are seeking qualified applicants for positions in the Call Center and Card Services area

To apply please send or e-mail your qualifications our Human Resource

Manager at United Credit Union, 4444 S.Pulaski Rd., Chicago, Il. 60362 or e-mail

nsanchez@unitedcreditunion.com Progress in the Making!