Ta b l e o f C o n t e n t s & H e r e f o r Yo u S t a n d a r d s

A Message to Our Members 1 Credit unions in the United States celebrated their hundredth
anniversary in 2009. And Georgia Federal Credit Union marked
About GFCU 2-3 their 51st year of service to members. Here are the standards
that serve as our guide in continuously being “Here for You.”
President’s Report 4-5
Our Core Values
Chairman’s Report 6-7 • Honesty
• Integrity
Supervisory Committee's Report 8-9 • Empathy
• Trust
Treasurer’s Report 10-11
Our Core Business Principles
Consolidated Statement of Financial Condition 12-13 • Respect
• Exemplary Service
• Innovation
• Financial Strength

Our Vision
“To become the financial institution and employer of choice by
consistently exceeding member and employee expectations.”
A Message to Our Members

GFCU remains strong.

With all the news about the turmoil in the financial markets over the Your funds are
past two years, we understand that you may be wondering about the federally-insured for
strength of Georgia Federal Credit Union. We are pleased to report up to $250,000 by the
that your Credit Union remains strong and well-capitalized. We full faith and credit
continue to make loans to credit-worthy members and our share of the United States
rates are highly competitive. government. IRAs
are separately insured
How Economic Changes Have Impacted the up to an additional
Financial Services Industry $250,000. Plus, you
The state of Georgia led the nation in bank failures during 2009. Many can structure account
of our member groups experienced furloughs or lay-offs. However, ownership to insure
GFCU has felt relatively little impact from the dismal economy more than $250,000.
because we continued to lend money while other lenders did not.
We were also not involved in sub-prime lending or exotic mortgages. Because we are a
And, in an effort to find safety for their deposits, members brought member-owned,
record-breaking levels of new deposits to GFCU. not-for-profit financial
institution, you have
Why You Can Feel Safe With Your GFCU Investments access to higher savings yields, lower loan rates, and lower fees than
Georgia Federal Credit Union is a strong, well-capitalized credit union. commercial banks. So, when you have a financial need, always think
As of 12/31/09, our capital ratio is 12.13%, totaling over $70 million. of your Credit Union first. As a member-owner, you will be helping
This is significantly more than required by the NCUA and provides a yourself and other members each time you do business with Georgia
safety net against loan losses and other unanticipated expenses. Federal Credit Union! At GFCU, we’re Here for You.

Getting Started

Your financial partner for life.

If you’re ready to purchase a new or used vehicle, here’s
an easy step-by-step process that will get you the vehicle Car Buying Service
you want at the price you deserve:

• Start by getting pre-approved for your loan. Call us at 888.493.GFCU

(888) 493-GFCU and select Option 3 to speak to a 770.493.GFCU
loan officer, or you can apply online at gfcuonline.org. gfcuonline.org • email@gfcuonline.org
Getting pre-approved for your loan will speed up the
car buying process so you’ll know how much car you

Car Solutions Car Buying

GFCU Corporate Office
can afford.
Thirteen Branches
6705 Sugarloaf Parkway
Duluth, GA 30097
• Next, call Car Solutions at (888) 493-GFCU ext. 6834 Athens Gwinnett

to Serve You –
or ext. 6471 and tell them the year, make, model and
color of the vehicle you want to purchase. They will
190 Gaines School Road
Athens, GA 30605
2270 Satellite Boulevard
Duluth, GA 30097 Service – This helpful service
Clarkston Lithonia
also make arrangements for you to see and test drive the

In addition to our 13
vehicles you choose.
500 N. Indian Creek Drive
Clarkston, GA 30021
5173 Panola Industrial Boulevard
Decatur, GA 30035 assists GFCU members take
the hassle out of new and
Conyers North Atlanta
• If you’re trading in your current vehicle, make an
conveniently-located
1381 Milstead Avenue 4448 Tilly Mill Road
Conyers, GA 30012 Atlanta, GA 30360
appointment with your car consultant to have an appraisal.

used car purchases.

Cumming Northlake

branches, we also offer

• Once you’ve chosen the vehicle you want, finalize your 312 Canton Highway 3840 LaVista Road
Cumming, GA 30040 Tucker, GA 30084
loan with GFCU. Then set up an appointment with
Dalton Stockbridge
Car Solutions.
thousands of CU Service
605 Calhoun Street 105 North Park Trail
Dalton, GA 30721 Stockbridge, GA 30281
• Drive home in your new vehicle! Dublin UGA

Center locations across the

2006 Veterans Boulevard 1710 S. Lumpkin Street
Dublin, GA 31021 Athens, GA 30606

country. Pictured at left is Car Buying Service ....................................... (888) 493-GFCU, Ext. 6834
or Ext. 6471

our South DeKalb Branch E-Branch ...................................................... (888) 493-GFCU, Option 3

in Decatur, GA.

www.carsolutions.com
9/09

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 About GFCU –

Thank you for choosing Georgia Federal Credit Union for your financial services.

GFCU is a not-for-profit financial cooperative that serves Savings

over 83,000 member-owners from the following eligible • Share Savings Accounts
member groups: • Christmas & Vacation Savings Clubs
• “You Name It” Savings Accounts
• Select school systems including: DeKalb, Forsyth, Rockdale, • Individual Retirement Accounts – Traditional, Roth, &
Newton, Henry, Dawson, Whitfield, Laurens, Clarke, and Education
Madison Counties; Dalton City, Dublin City, Georgia • Sterling Fund Money Market Account
Perimeter College, Agnes Scott College, DeKalb Technical • Share Certificates
College, Mercer University, Oglethorpe University, American
Intercontinental University, DeVry University, Dalton Checking
College; and numerous private and parochial schools • Checking Accounts with Identity Theft 911 protection
• 450+ select companies • Free Checking (with Direct Deposit or E-Statements)
• Members and employees of the Archdiocese of Atlanta • Student Checking
• The communities of Clarke and Laurens counties, and the • Thrifty Checking
cities of Norcross and Cumming • Premier Checking
• Faculty, staff, Students, and alumni of The University
of Georgia Life Stage Accounts
• Retirees, volunteers, and family members of the above groups • Super Saver Kids Club
• CU Succeed Teen Club
We pride ourselves on providing great service, community • CU College Club
support, and convenience. We offer financial products to help • Upper Class Account for Seniors
you through every stage of life – from setting up your very first
savings account and buying your first new car, to financing your Convenience Services
retirement home on the lake. And our people are here to make • ATM & Visa® Check Cards
the process as easy as possible. • Direct Deposit/Payroll Deduction

Community Scholarships –
GFCU granted $15,000 in
our annual Vernon E. Carne
Scholarship, Archbishop
Emeritus Donoghue Scholarship,
and UGA Scholarship programs
during 2009.

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• E-Branch Call Center
• Instant Access 24 Hour Telephone Teller Service
• Web Site www.gfcuonline.org
• GFCU Online PC Banking
• GFCU Bill Pay
• GFCU Mobile Banking
• CU Service Center Network Access
• Supplemental Insurance

Loans for Real Life

• Visa Gold & Platinum Credit Cards
• Consumer Loans
• Vehicle Loans
• Car Locator/Buying Service
• Boat & RV Loans
• Mortgage Loans – including FHA & First Time Homebuyers
• Home Equity Lines of Credit
• Universal Loans “for anything in the world”
• Real Estate & Land Loans

Investments and Insurance

• The MEMBERS Financial Services Center*

*Representatives are registered through, and securities are sold through, CUNA Brokerage Services, Inc. (CBSI), member NASD/SIPC,
2000 Heritage Way, Waverly, Iowa 50677, toll-free (866) 512-6109. Insurance sold through licensed CUNA Mutual Life Insurance Company
representatives, and in New York, licensed representatives of other companies. Non-deposit investment products are not federally insured,
involve investment risk, may lose value, and are not obligations of, or guaranteed by, the Credit Union.

GFCU membership
is one of your
most valuable
employee benefits.
Serving UGA Students, An Employee Benefit –
Faculty, Staff, & Alumni – GFCU membership is
We teamed up with UGA enjoyed by over 450
All-American and ESPN Sport • Free Checking with Identity Theft Protection
• Earn more on your Savings, Money Market Accounts, and groups and companies.
Certificates of Deposit
Analyst David Pollack this fall • 24/7 Online Banking, E-Statements, Bill Pay & Mobile Banking Services
• Great, Low Rates on Auto, Personal, Home Equity, & Mortgage Loans

to educate our community • E-Branch Call Center (888-493-GFCU)

Monday–Friday, 8 a.m. – 6 p.m.
Wednesday, 10 a.m. – 6 p.m.
about the benefits of Credit Saturday, 9 a.m. – noon
• Free Financial Education Seminars

Union membership. Ask Human Resources for a new-member kit and information about
special additional employee discounts you may be eligible for.

gfcuonline.org

Equal
Federally insured Housing
by NCUA. Lender

3
 P r e s i d e n t ’s R e p o r t –

In today’s economy, credit unions have never looked better.

In 2009, we witnessed some extraordinary changes in the mortgage defaults and foreclosures around us. At best, it will
financial services industry. Not since the Great Depression be a slow recovery.
have we seen such turmoil in our economy resulting in
life-changing implications for almost every American. We Despite the economy, Georgia Federal Credit Union continued
take comfort in the fact that difficult economic times come to make improvements in service and convenience in 2009.
and go, but how we respond to them determines our future. Here are a few of the highlights.
Georgia Federal Credit Union has faced the current recession
Warren Butler with character – continuing to lend money when other lenders • We returned $8.53 million in dividends to our members
President & CEO tightened or reduced lending activities. We have stood by our as we saw members grow shares by 23%, or an astounding
members and helped those who have lost jobs or experienced $94.5 million. Members sought the safety and soundness
work reduction by offering alternative payment plans and of federally-insured funds and we thank them for
budgeting assistance. And through these challenging times, choosing GFCU.
your Credit Union experienced a record year of growth in
deposits and loans. • Our loan volume grew $36.6 million, or 13.30% this year,
exceeding budget by $22.2 million. Our “Money doesn’t have
Even though there have been many external pressures on to be this hard to find” loan campaign rang true. Money
our business, we continue to be a strong and well-capitalized isn’t hard to find when you know where to look — your
financial institution. We remain safe, sound, and Credit Union!
well-positioned for future success. While economists debated
whether our economy could be heading toward recovery, we • In April, we moved our South DeKalb Branch to
followed the positive trends such as federal stimulus incentives, 5173 Panola Industrial Boulevard. A much larger facility,
low interest rates, and a pickup in housing construction. the new office includes multiple drive-thru windows and
Unfortunately, there continues to be some powerful downward expanded service area.
pressures such as declining commercial real estate values,
high unemployment numbers, and a worsening outlook for

Money doesn’t have to be this hard to find.

Money Doesn’t Have to

Be This Hard to Find —
Members looked to their
Credit Union first for low-cost,
convenient loans during this
2009 special promotion.

100 % HOME FINANCINg

LOW-COST REFIs

FHA LOANS

Equal
Federally insured Housing
by NCUA. Lender

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• GFCU Mobile Banking services were introduced during the summer months, enabling
members to reach GFCU from their mobile devices.

• Through our Refer-a-Member program, GFCU members referred record numbers of

family members and co-workers to join their Credit Union.

Georgia Federal Credit Union also continues the tradition of being an active part of
the many different communities we serve. You can find our employees participating in
and volunteering for numerous community projects such as our Partners in Education
programs, The March of Dimes’ Walk America, Children’s Miracle Network fundraising,
and our own GFCU programs including GFCU’s Christmas Wish Tree Program,
Community Speakers Bureau, and High School Scholarship programs.

Yes, in today’s economy, credit unions have never looked better. Our cooperative
principles and wise money management products make us a top choice by consumer
advocates. But this will not cause us to take our members for granted or stop looking
for ways to improve. We realize you have a choice where you conduct your financial Management Team
transactions. We want to continually give you reasons to choose GFCU. Let us know Front: Kevin Durrance, EVP & Chief Financial Officer; Warren Butler,
how we can serve you today and in the years to come! Remember, we’re Here for You. President & CEO; Doug Foote, Sr. Vice President & Chief Operations
Officer. Back: Kim Wall, Vice President, Marketing; Mark Bartholomew,
Vice President, Information Services; Rene McDaniel, Assistant Vice
President & Controller; Jason Halperin, Vice President, Lending;
Debbie Smith, Vice President, Human Resources.

Our newest branch

Member Satisfaction –
GFCU constantly surveys
members and trains our
employees to deliver
service that exceeds
your expectations.
is conveniently
located in Mobile Banking is Here –
your pocket. GFCU is now as close as your
mobile device. What could be
Access your account at more convenient?
gfcuonline.org anywhere,
anytime on your mobile device.

Equal
Federally insured Housing
by NCUA. Lender

5
 C h a i r m a n ’s R e p o r t –

GFCU is safe, secure, and ready to lend.

It has been my honor and pleasure to have served as the new
Chairman of Georgia Federal Credit Union’s Board of Directors
in 2009. It has been an extremely interesting time in our nation’s
history. We had a new presidential administration in place as the
country struggled through a lingering recession. As the news media
reported the collapse and consolidation of financial institutions
around us, we constantly communicated the safety and soundness
Thomas Dickson of your Credit Union. Georgia Federal Credit Union stood with our
Chairman members during this time. And, in the future, you can be confident
that we’ll be Here for You every step of the way, whatever the
challenges around us bring.
Because of years of prudent planning and responsible capital
levels at GFCU, we were able to face the additional challenges
from the corporate credit union system nationally. You’ll read more
about this in the Treasurer’s Report, but as I witnessed the way
the credit unions shored up their corporate credit union brothers
without any federal bailout money, I was proud once again of
the self-sufficiency of our credit union system. It’s important to
note that 2009 marked the 100-year milestone of credit unions in
America, and GFCU observed its 51st year of serving members.
Whether the economy is doing poorly or growing at a robust rate,
chances are you will be better off financially if you consolidate more
of your financial services at Georgia Federal Credit Union.
Here’s why:
1. Safe and Secure. Your savings at Georgia Federal Credit Union
are insured by the National Credit Union Administration (NCUA),
a federal government agency, for up to $250,000 for regular
accounts and separately for up to $250,000 per IRA. Not one
penny of insured savings has ever been lost by a member of a
federally-insured credit union. To see how NCUA insurance
applies to you, check out the NCUA Insurance Estimator at
http://webapps.ncua.gov/ins.
2. Not-for-Profit and Member-Owned. Unlike commercial banks,
your Credit Union is a not-for-profit financial cooperative. We owe
our loyalty to our members. Banks, on the other hand, use their
customers to generate income to keep their stockholders happy.
This is a big difference that impacts your financial well-being.
3. Low Fees. Credit union fees are generally lower than comparable
fees at commercial banks. By moving more services to GFCU, your
savings could really add up.
4. The Experts Agree. Credit unions mean smart money
management. From USA Today to SmartMoney.com to leading
consumer magazines and more, research shows that credit unions
typically offer members better financial deals than are
available elsewhere.

South DeKalb Branch

Relocates – We built a
new facility “right around
the corner” from our
former branch to gain
more space for this
growing location in April.

6
When you add it all up, taking greater advantage of GFCU products and services can
greatly improve your financial situation. You can pay lower loan rates, earn higher yields
on your savings, and pay lower fees. And by doing so, you’ll be benefitting not only
yourself, but also directly helping your Credit Union and your fellow members prosper.

GFCU also wants to make sure that our member service standards remain high by
continually providing specialized sales and service training to our staff. We survey
our members throughout the year to monitor our progress. Constant upgrades to our
technology and systems ensure delivery of your financial services in the most expedient
manner possible – while constantly protecting both member data and your privacy.

Your Board of Directors works closely with GFCU management to set strategy and
serve the collective interest of all members. Your Credit Union exists to provide
member-owners caring service and superior value on the financial products and services
you need to achieve your individual goals. We want to be your financial partner for life.

We will continue to strive to exceed your expectations by providing the products,

services, convenient access, and superior service you expect from Georgia Federal Credit GFCU Board of Directors
Union, now and in the future. We’re Here for You. Front: Geraldine Tilson, Director;
Monsignor Stephen Churchwell, Director; Tom Cochran, Director.
Back: Robert Smith, Treasurer; Dr. James H. Williams, Vice Chairman;
Dorothy Dusenberry, Secretary; Thomas Dickson, Chairman;
Jack Lavender, Director. Not pictured: Dr. Steven Whatley, Director.

Bottom line?
Signing for debit
card purchases
is good for your
Rewarding Good Bottom Line: Signing
Students – GFCU’s
bottom line. for Your Transactions
“Pay for A’s” program Improves Your Bottom
has proven to be a big Line – Members were
StudentS Get $ 1 .00
hit with our young rewarded with a dime for
for every A on their
account holders. We’ll every debit transaction
report cArd
Make the grade and make some cash. pay up to $10 a year for Sign for debit card purchases
when they signed for their
A’s earned on our young and get cash back for every transactions as an extra
transaction until December 31.
savers’ report cards. holiday bonus.

Equal
Federally insured Housing
by NCUA. Lender

7
 S u p e r v i s o r y C o m m i t t e e ’s R e p o r t –

GFCU’s financial condition is sound and well-managed.

The Supervisory Committee of your Credit Union has been with Nearman, Maynard & Vallez throughout 2009, they have
appointed by the Board of Directors to oversee the accuracy of indicated that the management of GFCU consistently maintains the
record keeping and the protection of your deposits at GFCU. highest standards of fiscal soundness.
In compliance with the Federal Credit Union Act and GFCU’s
By-Laws, the Supervisory Committee provides an independent Supervisory examinations are also performed periodically by the
appraisal of the safety and soundness of Credit Union operations National Credit Union Administration (NCUA), the regulatory
and activities. The Committee ensures that GFCU’s financial agency for all federally-chartered credit unions. The NCUA
statements provide a fair and accurate representation of its financial evaluates GFCU’s financial condition, safety, and soundness.
Bruce Hoyer
condition and that management establishes and maintains sound After our most recent examination, the Supervisory Committee is
Supervisory Committee
internal controls to protect the assets of the Credit Union. pleased to announce that GFCU has maintained one of the highest
Chairman
ratings given by the NCUA in the areas of capital, asset quality,
The Supervisory Committee meets its responsibility of safeguarding management, earnings, and asset liability management.
member accounts in several ways. One is through employing
an internal auditor who is responsible for the day-to-day Based on the excellent results of the NCUA examination and
monitoring of operations and procedures. The Committee also reports from our independent accountant, it is the opinion of
acts as the members’ representative by maintaining open lines of the Supervisory Committee that the financial condition of
communication and ensuring the members are given appropriate Georgia Federal Credit Union continues to be financially sound
service in a timely manner. and well-managed. Your best interests are continually safeguarded
by appropriate guidance and supervision, and your Credit Union’s
Under the direction of the Supervisory Committee, the independent foundation is safe and sound.
accounting firm of Nearman, Maynard & Vallez helps assist in
meeting its responsibilities. The Committee meets with our CPAs
to evaluate audit results. They conduct audits of selected operations
and perform a comprehensive unqualified opinion audit of the
Credit Union’s year-end financial statements. In all of our meetings

Your holiday
budget just got
a little jollier.
Skip-a-Payment —
GFCU was our members’
favorite holiday helper
Skip one month’s
loan payment* and
as over 1,500 members
save some money this chose to skip a loan
holiday season.
payment with GFCU.

Interest and finance charges will continue to accrue. *Must notify GFCU at least one week prior to scheduled payment. The
special Skip-A-Payment offer may be used for one of the following options: (1) one monthly loan payment; (2) two consecutive
bi-weekly payments; or (3) four consecutive weekly payments. Loans not eligible for this special include: Visa® credit cards,
Federally insured
Equal
Housing
mortgage loans, zip loans and past due loans. The Skip-A-Payment coupon is valid for loan payments due in December 2009 or
by NCUA. Lender January 2010. Your coupon must be received one week prior to your due date.

8
 Supervisory Committee
Left to right: Bruce Hoyer, Supervisory Committee Chairman;
Dan Jones, Committee Member;
William Silvey, Committee Member.

Parents aren’t
the only ones
who deserve
a back-to- Supporting Our School E-Statements Save
school special. Systems — GFCU assisted Time, Money, and the
Be part of Georgia’s largest with school system events for Environment — Sign
educators’ credit union and teachers and administrators up today!
E-StatEmEntS and
experience all the benefits! throughout the year, offering
Bill Pay SavE timE,
special programs for our
monEy and
Bring this coupon to the GFCU branch near you to take
educational employees.
thE EnvironmEnt.
advantage of these discounts and to sign up for membership:
• ¼% off regular rates for consumer loans—no application fees ever!
• ¼% off second mortgage rates, with no closing costs
• ¼% off origination fees for first mortgage loans
less Paperwork. less Paper. less Work.
Visit one of our 13 full-service branch offices located throughout Georgia. Check online for the location nearest you.

888-493-GFCU
Federally insured
Equal
Housing
Offer expires December 31, 2009 gfcuonline.org/schools.html
by NCUA. Lender 5413-6/09-05

9

Robert Smith
Treasurer
Where Can Your GFCU Visa Card Take You?
Do you have big travel plans this summer?
Don’t forget to take along your GFCU
Visa Gold or Platinum credit card. With
reasonable rates and the assurance of a card
that is accepted world-wide, this is the card to
carry. If you’re not already taking advantage
of this valuable card, apply online today at
gfcuonline.org and start traveling! And we
don’t charge extra fees to use your GFCU Visa
card outside the country!
Working With a Financial Advisor
Six Steps to Help You Get the Most Out of the Relationship
W H Dublin
ould you trust your medical diagnosis to
a casual acquaintance? Do you cut your own
hair? For some services, it makes sense to pay a
professional. A professional financial advisor can
help you build a sound financial plan to reach your
long-term goals. Here are steps to help you get the
most out of this important relationship.
1. Choosing your financial advisor — A referral
from someone you trust can help you feel more
confident about your choice of a financial advisor.
Many credit unions offer financial advisory services.
2. Set up a consultation — Make sure a prospective
advisor is a good match for your financial outlook
and personality. Try to evaluate if your financial
objectives are well matched to their areas of
expertise. Follow up with questions about
education, experience, and qualifications. Before
selecting an advisor, you should feel confident that
a prospective advisor can accurately explain the
financial arena.
3. Discuss your goals and obligations — Clarify
your financial goals through discussing detailed
information about your financial situation, risk
tolerance, and philosophy. Be candid about your
income, debts, future obligations, assets, etc.
4. Ask plenty of questions — The more you know
about financial planning, the more control you have
over your financial future. Use your financial advisor
as a resource.
5. Meet or speak regularly —To keep your financial
plan moving in the right direction, your advisor
needs up-to-date information on life changes that
may have financial implications, including:
10
• Marriage or divorce
• The birth or adoption of a child
• The purchase or sale of a home
• A change in your or your spouse’s work status
• Additional current financial responsibilities, such
as college payments or care for aging relatives
• An inheritance or other financial windfall
6. Listen — Experienced professional advisors can
help you maintain a long-term perspective on your
investment plan through good markets and bad.
Listen and keep an open mind about your advisor’s
recommendations.
Following these guidelines can help you get the most
out of your relationship with your financial advisor
in order to reach your financial goals.
Ralph Wagner is a Financial Advisor with the
MEMBERS Financial Service Center located at
GFCU. If you would like to contact Ralph, call
(770) 476-6400, Ext. 1208.
A representative is not a tax advisor or legal
expert. For information regarding specific tax
situations, please contact a
tax professional. For legal
advice, consult an attorney.
Representatives are registered, securities are
sold, and investment advisory services offered
through CUNA Brokerage Services, Inc.
(CBSI), member FINRA/SIPC, a registered
broker/dealer and investment advisor, 2000
Heritage Way, Waverly, Iowa 50677, toll-free
(866) 512-6109. Nondeposit investment and
insurance products are not federally insured,
involve investment risk, may lose value and are
not obligations of or guaranteed by the financial
institution. CBSI is under contract with the
financial institution, through the financial
services program, to make securities
available to members.
Tr e a s u r e r ’s R e p o r t –
Despite the recession, your Credit Union remains strong.
In 2009, the nation experienced one of the most severe recessions Those losses effectively wiped out the capital base of many
since World War II. The unemployment rate surged, foreclosures corporate credit unions and threatened their ongoing viability.
remained at record levels, and housing prices continued to decline. The consumer credit unions are bearing the costs by writing off
The Federal Reserve left rates near zero in an attempt to revive the majority, if not all, of their capital investment in the corporate
the economy back to life and implemented numerous programs credit unions. The NCUA is also charging consumer credit unions
to help boost the economy and stimulate lending. Throughout the additional insurance premiums to make up the difference and ensure
year, Georgia Federal Credit Union was well-positioned to continue that the National Credit Union Share Insurance Fund (NCUSIF)
offering exceptional value and service to its members, while stays safe and sound.
remaining the pillar of financial strength and stability necessary
to meet our members’ expectations. In all, our Credit Union had to set aside additional funds to help
stabilize the corporate credit union system — $2.13 million in
Unlike the banking system, credit unions did not receive federal write-downs on corporate credit union capital shares we owned, and
bailout funds. In fact, during 2009, consumer credit unions, like $717 thousand for the special premium assessments levied by the
GFCU, stepped in to assist the corporate credit union system NCUA. Obviously, this is an unforeseen occurrence with a major
which experienced capital impairment due to losses in the areas financial impact, but not one that will significantly impair our ability
of mortgage-backed securities. Corporate credit unions are to grow and prosper in the future.
wholesale institutions owned by consumer credit unions. Due to
this cooperative relationship, they provide consumer credit unions Consumers continued to flock to credit unions in 2009 for their
investment and processing services at a discount. Many corporate safe and insured accounts and availability of credit. Over 2,000
credit unions invested in mortgage-backed securities that were highly new members joined GFCU, and we witnessed GFCU deposits
rated and considered safe when purchased. Unfortunately, these and loans growing at unprecedented rates — 23% and 13.30%
investments lost significant value in the face of the unprecedented respectively — as we ended the year at approximately $582 million
downturn in the housing market. in assets, exceeding all budget predictions.
GFCU Locations
Corporate Office
6705 Sugarloaf Parkway • Duluth, GA 30097
(770) 493-GFCU (4328)
Outside the metro area:
1 (888) 493-GFCU
H Athens
190 Gaines School Road • Athens, GA 30605
(706) 549-6292
H Clarkston
500 N. Indian Creek Drive • Clarkston, GA
3002l
(404) 292-6868
H Conyers
1381 Milstead Avenue • Conyers, GA 30012
(770) 483-5211
H Cumming Credit Unions Never Looked So Good
Safe, Secure, and Ready to Lend
312 Canton Hwy. • Cumming, GA 30040
(770) 889-7843
Keeping in Touch – GFCU
H Dalton
605 Calhoun Street • Dalton, GA 30720
(706) 226-1199
D uring this lingering recession, we have all taken steps to “tighten
constantly communicates to
our belts” and reexamine our budget and spending habits. One of the
2006 Veterans Blvd. • Dublin, GA 31021
(478) 272-5972 few bright lights in the media has been credit unions. Credit unions
H Gwinnett are not-for-profit financial cooperatives that did not take part in the
2270 Satellite Blvd. • Duluth, GA 30097 banking bailouts or subprime lending in recent months. And
our members through our
(770) 497-8463
consumer experts continue to expound upon the prudent values that
H South DeKalb
have helped credit union members in America manage their finances
5173 Panola Industrial Blvd.
Decatur, GA 30035 in a responsible way for the last 100 years.
Partners newsletters, e-mail
(770) 987-1040
At GFCU, our financial service off icers can provide you with a free
H North Atlanta “financial check up.” And our website has a multitude of consumer
4448 Tilly Mill Road • Atlanta, GA 30360
(770) 452-8233 information and educational articles from our weekly “Home and
updates, Web site, Facebook,
H Northlake Family Finance Online” as well as a budget blueprint to help your
3840 La Vista Road • Tucker, GA 30084 family track your spending.
(770) 621-5420
H Stockbridge
Plus your Credit Union hasn’t changed our lending criteria. We still
and Twitter sites.
105 N. Park Trail • Stockbridge, GA 30281 have plenty of money to lend for any needed or worthwhile purpose.
(770) 474-3600 From financing a new home to buying a fuel-efficient car, we’re here
H UGA to help. Remember, money shouldn’t be hard to find — as long as you
1710 South Lumpkin Street • Athens, GA know where to look. So, look to your member-owned Credit Union.
30606
(706) 227-5400
H ATM Location
CU Service Centers
(Limited Transactions Available)
For a complete listing of CU Service Centers,
GFCU Mobile Banking
visit gfcuonline.org and click on locations.
Internet Address
gfcuonline.org
Coming Soon
E-mail Address E veryone’s talking about the benefits of mobile banking from
email@gfcuonline.org your smart phone or cell phone – and it’s coming soon to Georgia
Federal. Watch our website this summer to learn how you can be
Instant Access a part of our test pilot program prior to the introduction to our
Telephone Teller general membership this fall.
(770) 476-6417 or (800) 226-3584
Ralph Wagner
MEMBERS Financial Service
Center Representative
E-Branch
(770) 493-4328
Mon., Tues., Thurs., Fri. 8 a.m. to 6 p.m.
Wednesday 10 a.m. to 6 p.m. Home Banking Security Upgraded
Saturday 9 a.m. to noon
Visited Our New South
DeKalb Branch Yet? Where Can Your GFCU Visa® ®
Card Take You?
We Do Business in Accordance
with the Federal Fair Housing
Federally insured When Using Your Debit Card, Which Is Young Savers Earn Bonus
EQUAL HOUSING Law and the Equal Credit
LENDER Opportunity Act. by the NCUA. Better: Selecting Signature or PIN? for Their Good Grades Working With a Financial Advisor
 Georgia Federal Credit Union also closely monitored operating expenses, cut costs, and
sought improved areas of efficiency throughout the year. Our net operating expenses
came in under budget, and our expense ratio closed at 2.55%. Income for the year was
approximately $3.43 million. And our profitability ratio (ROA) closed at 0.64%.

We are committed to maintaining adequate earnings and capital for the future, and our
net worth is well above our peers at 12.13%. During the current recession, GFCU’s
prudent asset liability management and practice of building capital reserves has never
been more important. The constant wise management of our assets allowed us to pay
back more than $8.5 million to members in dividends despite historically low market
interest rates.

We remain optimistic about our ability to manage the pressures of this economy while
delivering the financial services you need and want. Our focus will remain on the
fundamentals in 2010 and beyond to ensure that Georgia Federal Credit Union will be
Here for You, now and in the future.

LEARN
gfcuonline.org @ WORK
Corporate Office On-Site Financial Education Seminars

Get some credit

6705 Sugarloaf Parkway
Duluth, GA 30097
(770) 493-4328 or (888) 493-GFCU

Learn@Work – Our Partnering with our

Athens
190 Gaines School Road
Athens, GA 30605
Gwinnett
2270 Satellite Boulevard
Duluth, GA 30097
community speakers bureau for being a good Member Groups – GFCU

Catholic in the
Clarkston Lithonia
500 N. Indian Creek Drive
Clarkston, GA 30021
5173 Panola Industrial Blvd.
Decatur, GA 30035 offers on-site financial enjoys partnering and
education programs for your volunteering with all our
Conyers North Atlanta
1381 Milstead Avenue 4448 Tilly Mill Road

here and now.

Conyers, GA 30012 Atlanta, GA 30360

Cumming
312 Canton Highway
Cumming, GA 30040
Northlake
3840 LaVista Road
Tucker, GA 30084
school or community group. member groups. Here’s
Dalton
605 Calhoun Street
Stockbridge
105 North Park Trail
an example of one of our
customized programs for our
Dalton, GA 30721 Stockbridge, GA 30281

Dublin UGA
2006 Veterans Boulevard
Dublin, GA 31021
1710 S. Lumpkin Street
Athens, GA 30606 Earn $15 for your parish largest member group, the
when you open your account
at the Official Credit Union of the Archdiocese of Atlanta. Archdiocese of Atlanta.
Offer expires July 31, 2009

National Credit Union Administration, a

U.S. Government Agency — Member
888-493-GFCU
Seminar Topics gfcuonline.org/groups/catholic.asp
accounts are federally insured to at least
$250,000 and backed by the full faith and Equal
credit of the United States Government.
Federally insured Housing
by NCUA. Lender

11
 Consolidated Statement of Financial Condition
Loan Growth AS OF DECEMBER 31, 2009 AND 2008 (Unaudited)

$312,048,379
ASSETS 2009 2008

$275,422,855

LOANS:
$248,886,292 Credit Card Loans $ 21,202,328 $ 19,250,160
$231,325,659

Unsecured Loans $ 8,496,230 $ 8,497,098

Vehicle Loans $ 74,451,872 $ 81,943,327
First Mortgage Loans $ 63,995,724 $ 60,337,874
$181,091,936

Home Equity Loans $ 38,546,228 $ 17,535,284

Other Real Estate Loans $ 22,231,649 $ 26,291,924
All Other Loans $ 27,434,532 $ 16,607,531
Notes Receivables $ 55,689,816 $ 44,959,655
Total Loans $ 312,048,379 $ 275,422,855
Allowance for Loan Loss $ (3,039,886) $ (2,302,908)
'05 '06 '07 '08 '09
Net Loans $ 309,008,493 $ 273,119,947
Cash on Hand $ 12,028,694 $ 11,144,628

Asset Growth INVESTMENTS:

Federal Agency Securities $ 13,062,340 $ 10,157,220
$581,949,350

Corporate Credit Unions $ 204,706,093 $ 155,157,524

Other Investments $ - $ -
$483,560,739

Total Investments $ 217,768,433 $ 165,314,744

$437,571,324

Fixed Assets $ 23,203,032 $ 22,247,642

$395,243,030
$374,169,612

Other Assets $ 19,940,698 $ 11,733,778

TOTAL ASSETS $ 581,949,350 $ 483,560,739

'05 '06 '07 '08 '09

Know someone who would benefit from GFCU membership?

Refer family members • Refer a co-worker • Refer your friends • Refer your employer or company

12
 Deposit Growth

$504,513,388
Liabilities, Members' Shares & Equity 2009 2008

$409,973,684
LIABILITIES:

$361,432,829
Dividends Payable $ 788,162 $ 861,817
Other Liabilities $ 5,978,346 $ 5,450,938

$325,340,168
$311,304,375
Total Liabilities $ 6,766,508 $ 6,312,755


MEMBERS' SHARES & EQUITY


MEMBERS' SHARES:
Shares $ 122,129,426 $ 115,114,141
Share Drafts $ 61,432,253 $ 52,850,732 '05 '06 '07 '08 '09
Sterling Funds $ 103,816,425 $ 72,429,745
Individual Retirement Accounts $ 44,299,875 $ 32,906,938
Share Certificates $ 172,835,409 $ 136,672,128
Total Members' Shares $ 504,513,388 $ 409,973,684
Member Growth


MEMBERS' EQUITY:

83,458
Regular Reserves $ 10,680,362 $ 10,680,362

81,425
Retained Earnings $ 59,989,092 $ 56,593,938

80,871
80,495
Total Members' Equity $ 70,669,454 $ 67,274,300

77,705

TOTAL LIABILITIES,

MEMBERS' SHARES, & EQUITY $ 581,949,350 $ 483,560,739

'05 '06 '07 '08 '09

Contact us at:
email@gfcuonline.org or (770) 493-4328 and ask to speak with an E-Branch representative today!

13
 Corporate Office
6705 Sugarloaf Parkway
Duluth, GA 30097
(770) 493-4328 or 1 (888) 493-GFCU
Athens
190 Gaines School Road
Athens, GA 30605
Clarkston
500 North Indian Creek Drive
Clarkston, GA 30021
Conyers
1381 Milstead Avenue
Conyers, GA 30012
Cumming
312 Canton Hwy./Hwy. 20
Cumming, GA 30040
Dalton Northlake
605 Calhoun Street 3840 LaVista Road
Dalton, GA 30721 Tucker, GA 30084
Dublin Stockbridge
2006 Veterans Boulevard 105 North Park Trail
Dublin, GA 31021 Stockbridge, GA 30281
Gwinnett UGA
2270 Satellite Boulevard 1710 South Lumpkin Street
Duluth, GA 30097 Athens, GA 30606
South DeKalb
5173 Panola Industrial Boulevard
Decatur, GA 30035
North Atlanta
4448 Tilly Mill Road
Atlanta, GA 30360
gfcuonline.org