MINUTES OF THE 67 TH ANNUAL MEMBER MEETING

PLACE: Virtual Meeting via ZOOM

DATE: Wednesday, May 18, 2022

TIME: 6:00 p.m.

I. WELCOME AND CALL TO ORDER

The meeting was called to order and the members were welcomed by Mr. Jaime Barceleau, Chairman of the Board of Directors at 6:00 p.m. Mr. Karl Murphy, President/CEO presented the invocation and the Pledge of Allegiance.

II. APPOINTMENTS

The meeting was conducted in adherence with Robert’s Rules of Order. Ms. Pat Aguilera was appointed as recording secretary.

III. INTRODUCTIONS

Mr. Barceleau introduced the current members of the Board of Directors and the Supervisory Committee, thanking them for their service to FirstLight Federal Credit Union as volunteers. Mr. Barceleau honored former Board Member, COL. Billy Lewis+, with a moment of silence. He also extended recognition to our Board Treasurer, Gilbert Tijerina, who has stepped down after 28 years.

Mr. Murphy thanked the Board and Supervisory Committee volunteers for their service to the Credit Union and introduced the Executive Officers of the Credit Union.

IV. QUORUM

Mr. Barceleau confirmed 44 members present on behalf of Mr. Gilbert Tijerina, Treasurer of the Board of Directors.

V. PRESENTATION OF OFFICIAL REPORTS

Minutes

The minutes of the 66th Annual Meeting were presented. Motion to approve and accept the minutes of May 19, 2021, as written was made by Rafael Adame and seconded by Barbara Walker. Motion carried. None opposed.

Official Reports and Financials

Mr. Barceleau noted the official reports presented in the 2021 annual report, including the chairman and president’s report, the supervisory committee’s report, and the financial statements. A motion was made by Carmen Jimenez and seconded by Carol Urling to accept all reports as written. Motion carried. None opposed.

Mr. Barceleau then asked Mr. Murphy to provide an update of Credit Union operations to the members.

Mr. Murphy thanked the members for their valued membership and support of the Credit Union. He also commended staff for their dedicated effort to make 2021 a successful year. Mr. Murphy noted that assets grew to $1.4 Billion, with the Credit Union serving over 107,000 members. The Credit Union focused on the following three major areas, keeping member experience at the core.

Ease and Convenience – Efforts are continuous to make it easy and convenient to do business with us.

· New virtual platform enabling business to be conducted with a “Live” Video Agent.

· Online appointment portal to help members schedule meetings at a convenient branch location.

· Conducted surveys and journey mapping to understand and improve member experiences.

· Opened a self-service branch at Texas Tech Health Science Center.

Being a Trusted Financial Partner – Offering solutions that make our members’ lives better.

· Card controls - gave members more control of funds, credit/debit cards have settings they can control and turn their cards on and off to protect their accounts from fraud.

· Rewards Program, members received about $500,000 in the form of cash back, loan rate reductions, and fee refunds.

· The Credit Union was recognized as the “Best of the Border” Credit Union.

Community Leader – Being active in the communities we serve and being more than a financial institution.

· The Credit Union participated in 87 community development and financial wellness events with area schools, universities, and non-profit groups. VPs and managers are also part of area boards.

· Through our FirstLight Giving Program, where $1.00 is given to local food banks for every funded loan, FirstLight donated $14,175—having an impact of 141,750 meals to local families.

· FirstLight Community Foundation awarded $15,000 to scholarship recipients. The Foundation raised just over $100,000 from employee contributions, community donations, t-shirt sales, and our Inaugural Golf Classic.

· Continued partnerships with the USO and Fort Bliss, Texas Tech Health Science Center—El Paso, and New Mexico State University.

2022 Focus:

· Financial wellness of our members and the community.

· Building partnerships beyond Western Technical College and UTEP’s banking Academy.

· Invest in new services such as small dollar 24/7 loan programs and artificial intelligence platforms to help guide members through service processes.

· Evaluate branch structure and service to include new locations to elevate the branch and digital experiences.

VI. ELECTION RESULTS

There were three candidates appointed for the Board through acclamation. The following were the results:

There being three open positions for the board, Mr. Joshua Orozco, Mr. Miguel Cheng- Guajardo, and Mr. Jaime Medina were elected to the Board.

VII. EMPLOYEES OF THE YEAR

Mr. Barceleau recognized the two employees of the year. He congratulated the member service employee of the year, Andrea Archut from Member Contact Center, and Jerome Crawford from information Technology for his outstanding support to fellow staff members.

VIII. ADJOURNMENT

Mr. Barceleau announced the conclusion of the 67th Annual Meeting of the FirstLight Federal Credit Union. Motion to accept adjournment of the meeting was made by Kristie Fernandez and seconded by Victor Rael. Motion carried. None opposed.

There being no further business, the meeting adjourned at 6:33 p.m.