86. The begining and the end of Taiwanese American Federal Credit Union by Mr. Cheng Chuang / 德州台灣信用合作社二十年的成長 / 莊承業/2015/01

January 10, 2015 Admin3 Our Journeys

The begining and the end of Taiwanese American Federal Credit Union by Mr. Cheng Chuang

 

德州台灣信用合作社二十年的成長

作者 莊承業

 

HISTORY OF TFFCU

Cheng Y. Chuang

  1. Houston Formosan Club

In 1965, there were about twenty Taiwanese students pursuing advanced degrees at the Rice University and the University of Houston. Few years later，sixty Taiwanese families had settled down in Houston. Subsequently，the Houston Formosan Club was established in July 1970, mainly for the purpose of social gather and mutual assistance among members.

The Houston Formosan Club later became a chapter member of the National Taiwanese Association of America.

  1. Formation Of Texas Formosan Federal Credit Union (TFFCU)

More Taiwanese had constantly moved to Houston for better Job opportunities. The Taiwanese community had grown to a total of one hundred and fifty families by the fall of 1974. To foster a strenuous financial bond for the community, Mr. Cheng Y. Chuang (莊承業)had then submitted a proposal of forming a credit union to Mr. Chen Jung Lin (林振榮), The Club’s president as well as active dub members. Although the response from the Taiwanese communities were not so encouraging. However, Mr. Chuang had committed himself to carry out his plan. He had persistently studied the feasibility of organizing the credit union and published it in the Club’s newsletter. Meanwhile, he had contacted the Texas Credit Union League (TCUL) and invited ten enthusiastic members to serve on the Boards the Credit and the Supervisory Committees.

The first Taiwanese-owned credit union in the North America was finally born on April 30? 1975. The major chronicle events of that year are as shown below:

March 11:            Application was submitted to the National Credit Union Administration (NCUA).

April 30:               Charter was approved by the NCUA.

June 14:               TFFCU was open for business .

  1. Early Struggles (1975-1982)

The total amount of deposits has only about $40,000 at the end of first year operation, however, the business had been steadily improving. Even then it took four and half years to reach half million dollars in assets. Then it came the financial dismay of 1980’s? the financial market had been flooded with lots of jumbo CD’s with sky-high interest. Fortunately, about forty loyal members had kept their savings deposits in the credit union. These collective efforts of all members had greatly contributed to lay the solid foundation of our credit union. A great appreciation should be given to Mrs. Li-Yu Chen(陳麗玉）for her dedicated services in this early stage. She had operated the credit union at her house until January 1982, TFFCU moved to the office at 11610 Fondren. At the end of 1982, the total assets had reached one million dollars. She had served as the office manager and treasurer from 1979 to 1985.

  1. Growth (1983-1989)

TFFCU started the checking account service in August 1985, and celebrated 10th anniversary on September 1 1985. The total assets reached three and half million dollars in December 1985.

In 1986, Mrs. Anne Lin (陳智英)was elected to serve as the office manager and treasurer, after Mrs. Li-Yu Chen’s family had moved to San Francisco. Under her devoted leadership, the assets of credit union have kept steadily growing. By the end of 1989, the total assets had climbed over to five million dollars.

  1. Challenge To Expand Loan Business (After 1990)

In February 1992, the credit union moved to 5885 Point West, the Taiwanese Community Center owned by the Taiwanese Heritage Society of Houston. Because of the convenience location, two million dollars in deposits were added to the assets in a single year.

The assets increased from five million in 1990 to nine million dollars in 1993, but the total loan amount only from two million dollars to three million dollars in the same period. The major challenge to the credit union nowadays is thus to promote loans to the members. Consequently, the credit union has taken the following steps to meet the challenge:

  1. Offering periodical programs with the interest bargains:

Home Improvement – March & April

Student Loan – June & July

New Car Loan – October & November

  1. Starting the Home Mortgage Loans in May, 1994
  2. Keeping in close contact with members.
  3. A Successful Institution

TFFCU has been in business for 20 years. With all combined efforts of members, officers and staffs, at the end of 1995, its total assets reached the milestone of ten million dollars, while the total loans accumulated more than four million dollars, TFFCU became a millionaire in January 1996. The success of our credit union has been attributed to three major factors:

  1. TFFCU has been fully supported by the Taiwanese community.
  2. All members of the Board, the Credit and the Supervisory Committees have worked together as a team to manage the credit union..
  3. All staffs have dedicated to serve members professionally.

86_The begining and the end of Taiwanese American Federal Credit Union 德州台灣信用合作社 - 0001

合作社畫下圓滿句點

莊承業 4/26/2013

86_The begining and the end of Taiwanese American Federal Credit Union 德州台灣信用合作社 - 0002

這是一篇難下筆的文章，可是我必須寫出來。彷彿合作社的停業是一項爭議性的決定，可是本屆理事會願意承擔責任去推動。三十八年前，籌備合作社，順利開幕，今天要報告合作社停業的前因後果，心情百感交集，我為什麼要做得這麼辛苦？難道是”解鈐人是繫鈐人”嗎？

四月十四日德州台灣信用合作社舉行「社員特別會議」，討論「停業議題」(Liquidation) 有將近三百位社員參加，表示社員関心這項議題，這是一個好現象。社員親身經歷一場活生生的公投活動，雙方各自表達對「停業議題」的看法。有18人表達意見，可是反對者沒有針對合作社的困境提出有效的改善辦法。合作社目前的困境有三項；

  1. 社員人數嚴重的流失- 2003年社員1,598 ; 2013年縮減至1,207。
  2. 貨款的需求量減少- 2003年二百七十五萬元；2012年是十六萬五千元。
  3. 願意擔任理事的人意願降低 – 這是現實的問題。現任全部理事不再續任。

沒有人站起來說他願意承擔合作社的業務，也沒有人說三年後関門比現在好；多數人圍着分紅不公平，以及有沒有變通辩法等等發言。不過有一個可喜的現象，發言的人都心平氣和表達個人的意見，充分表現出休士頓台灣人的民主素養。

會議中最强烈，最爭議的話題是紅利分配不公平。根據「National Credit Union Administration」（NCUA)所訂的「Liquidation Policy」中明文規定，紅利的分配是根據理事會通過Liquidation議題時，當天(3/27日)社員的存款作為標準來計算。社員抗議的重點是為何紅利分配沒有考慮年資。理事會無法回答，只有依法行事。

合作社劃下圓滿的句點

外表看起來好好的，又不虧損的合作社，為什麼有停業的動機呢？Simon Lin在會議上所說老年化問題是我們要去面對的；正如方俊人說的，問問自己有幾個人鼓勵自已的孩子出來當義工？當後繼無人時，該怎麼辦，要等到什麼時候再處理，問題一大推。维護社員的利益一直是我最関心的，因為社員是合作社的股東，讓股東多賺一點錢是理事會的責任。「天助人助」是這次停業的最好寫照。美國過去四年的經濟蕭條，造成定期存款(CD)的利息非常低，合作社沒興趣再去買CD，CD減少了，累積了可觀的現金。其次聯邦債券也大幅縮減，抛售CD和聯邦債券時，費用就較低，社員的紅利自然增加，這不表示老天爺在背後當推手嗎？何况末来幾年經濟也不會好轉，大環境處處表示，現在停業是最適當的時候，社員所得的紅利也會是最高的時候。

2012年七月起，理事會開始討論停業程序，我非常小心，只要有朋友向我問起合作社的停業問題時，我絕對閉口不談，為什麼？萬一有社員暸解紅利的分配方法時，存入大筆的錢，這對其他社員會造成不公平。過去九個月，我的心綁得很緊，怕萬一出錯時，責任很重大，當然心理壓力也很大。所以開理事會議時，常常提醒其他理事，Liquidation是最高機密，不可外洩。有數據可以參考，2012年底社員的總存款是二千五百二十萬元，2013 年3月27日是二千三百六十萬元，存款減少。在本屆理事會充分合作下，我們做到了，相當可貴。到了 2013年初，理事會就密集開會，積極推動Liquidation有関的事務。三月初聘請到律師，做為Liquidation Agent，全面展開工作，就在三月二十七日月會時，理事會通過Liquidation議案。

三十八年是一段漫長的時間，社員的協助和支持，職員的盡責，加上義工的奉獻，讓我們合作社的業務一直成長，變成社員和社區生活的一部份，這是值得我們珍惜和回憶。因為辦理停業過程中，給社員帶來許多不便，在此表示萬分的歉意。同時我也要向贊成理事會提案的303位社員深深表達我内心的感激，也請投反對票的242位社員多多諒解。最後別忘了二位最辛苦的職員Lydia和Amy，她們全力投人Liquidation的工作，還有二，三個月才能完成。Lydia和Amy，多謝。

合作社終於劃下圓滿的句點。多謝全体社員。

參考資料2003 – 2013的數據：

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013/3
社員人數 1,598 1,570 1,500 1,517 1,479 1,450 1,419 1,403 1,345 1,262 1,207
貸款(百萬) 2.75 2.21 2.17 1.41 1.32 1.42 1.27 1 0.56 0.16 0
社員存款 24 21 19 14.4 14 15.9 26.2 24.8 25.1 25.2 23.6
摘自 德州台灣信用合作社專集 2014/11

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