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CHAIRMAN S REPORT PRESIDENT/CEO REPORT SUPERVISORY REPORT TREASURER S REPORT

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2014

ANNUAL

REPORT

P.O. Box 4900 Orlando, FL 32802-4900 • 407.426.6000

or Toll-Free 888.843.8328 • InsightCreditUnion.com

Equal Housing Lender • Federally Insured by NCUA

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2014 proved to be another very exciting year for Insight Credit Union. It has been a year of dynamic, positive change with movement forward for Insight, its staff and its members. The year has been full of growth, accomplishments and successes, which I am pleased to be able to share.

In 2014, we continued to make banking with us easier and more convenient. We expanded our field of membership to include those who live or work in the areas of Osceola County, Hernando County, Pasco County, Hardee County, DeSoto County, Highlands County, and those who contribute to the Insight Community Foundation. This expansion has put us in an excellent position for expanded membership growth in years to come.

Over the past year, Insight relocated the Clermont branch to a more prominent location on Highway 50. The new Clermont office brings members in that area a more spacious place to bank, as well as increased visibility to potential new members. We opened a new branch in Crystal River and relocated the Inverness branch to give our members in Citrus County access to two convenient locations. To better serve our members in Marion County, we opened our Maricamp branch, making it our second location in Ocala. Insight also wanted to show its continued dedication and commitment to its Lake County and Orange County members. We were able to renovate both the Leesburg Office and the Wekiva Office to bring members an updated and more spacious place to bank.

The Insight Everywhere Business Development Team went above and beyond in 2014. They were able to spread the news about the benefits of Insight membership at over 350 events this year. We also introduced the Insight Credit Union Booster Club which allowed us to show our support for Athletic Departments and Programs throughout Central Florida. We were proud to be a Presenting Sponsor for the 2014 Florida Collegiate Summer League Season and the Official Banking Partner of the Ocala Stampede! In addition, our Community Service Program Insight Inspire, contributed over 5,000 volunteer hours in the communities where we live and work. It’s great to have so many ways for Insight to share the credit union philosophy of “People Helping People” with the members of our community.

Your Credit Union rolls into 2015 as a vibrant, financially strong partner for all of your banking needs. We look forward to an exciting and busy year ahead, as we will be celebrating the 80th anniversary of Insight Credit Union! We hope you will join in celebrating with us. Remember...It’s Your Money, Keep It Insight!

George R. Davis, President/CEO

Insight Credit Union’s primary goal is to maintain a safe and secure financial environment for our members. As always, Insight Credit Union took steps to ensure that all approved loans were within appropriate and safe operating guidelines as set forth by the Board of Directors and Management. Insight Credit Union ended the year with total loans outstanding of $341 million. We sought to control our deposits and ended the year with $443 million. We ended the year with a strong membership of over 56,000, showing a significant presence in the Central Florida community.

We are extremely proud of our continued strength and strong capital position. In addition, we have money to lend and strong lending practices in place to manage our delinquency and charge-off risk. As this economic storm subsides, we will have an even greater opportunity to help create sustainable economic recovery. We anticipate increased activity in the small business lending area, creating new jobs in the communities we serve.

As we move through 2015, Insight Credit Union is not only committed to delivering exceptional financial solutions with exceptional personal service, but also to maintaining earnings and reserves, which promote sound growth and encourage member confidence as well. Danny Grant, Treasurer

We have much to celebrate from 2014 at Insight Credit Union. It has been a year of growth and excitement for all of us. We ended this year in a strong position with assets of $505 million, surpassing a milestone we have been working towards the last four years. We held true to our mission of providing exceptional service and products to improve our members’ financial well-being.

Throughout the years, our primary focus has always been to provide products and services that best meet the needs of our members. We strive to make a difference by offering financial solutions that help our members accomplish their many goals in life.

Our commitment to excellence has not gone unnoticed in the community. Insight was awarded Small Business of the Year by the Ocala/ Marion County Chamber and Economic Partnership. We were also awarded the Medium Business Achievement Award by the Leesburg Area Chamber of Commerce. These accolades recognize our continued dedication to innovation, financial success, sustainability, customer service and community involvement.

What sets us apart from other financial institutions is our devotion to helping those in the communities in which we live and work. Through our Insight Inspire Volunteer Program, employees and their families donated over 5,000 hours to more than 140 events in 2014. We continue to make a significant impact in our communities, so much so that we were awarded the Volunteer for Service Award from Lake-Sumter State College. This award commends our tremendous volunteer efforts and commitment to education.

This year, we partnered with many community organizations, including the American Cancer Society’s Relay for Life, Second Harvest Food Bank, United Way and the Educational Foundation of Lake County. Insight raised nearly $11,000 and donated over 1,125 volunteer hours for the 2014 Relay for Life. During the “Kids Helping Kids” Summer Food Drive, Insight members and employees collected more than 800 pounds of food for the Second Harvest Food Bank. We also held a school supply drive to donate thousands of school supplies to the United Way and Educational Foundation of Lake County.

As we look back over the Credit Union’s history, we find that the founding philosophy of “People Helping People” resounds through every decision made by the Credit Union Management and Board of Directors. This year is no different, especially with the inception of the Insight Community Foundation, Inc. The foundation will serve as a vehicle for Insight to better support the community and give back to those in need.

We thank you for your commitment to Insight Credit Union and look forward to many more years of serving you and our communities. Charles Arnett, Chairman

The Supervisory Committee is appointed by the Board of Directors, and they are charged with the responsibility to assure the Credit Union operates according to all of the rules and regulations set forth by the National Credit Union Administration (NCUA). The Supervisory Committee also confirms the policies and procedures set by the Board of Directors fall within government guidelines as administered by the NCUA and the State of Florida.

Under the direction of the Supervisory Committee, an independent certified financial audit, as required by the NCUA, is conducted each year by certified public accountants. Their audits include tests of compliance with internal accounting and administrative control procedures based on NCUA guidelines for credit unions. In addition to the CPA audit, the Credit Union is examined by the State of Florida Division of Banking and Finance examiner under the direction of the NCUA. Both audits reflected satisfactory operation.

It is the opinion of the Supervisory Committee that the Statement of Financial Condition of Insight Credit Union, as of December 31, 2014, presents a true and accurate picture of the Credit Union.

Deborah Collins, Chairman, Supervisory Committee

CHAIRMAN’S REPORT

TREASURER’S REPORT

PRESIDENT/CEO REPORT

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Insight Credit Union

Balance Sheet

12/31/2013 12/31/2014 ASSETS

Cash and Cash Equivalents:

Cash on Hand $ 4,210,013 $ 4,061,763 Federal Funds Sold - -Cash on Deposit in Corporate CU & Other FI 21,311,074 24,638,098 Total Cash and Cash Equivalents 25,521,087 28,699,861 Investments:

Investment Securities - AFS 98,503,747 83,039,304 Deposits in Commercial Banks, S&Ls, Savings Banks 17,601,000 18,007,000 Membership capital at Corp CU 3,466,782 3,466,782 FHLB Stock 541,900 417,600 Total Investments (net ASC 320) 120,113,429 104,930,686 Loans Held for Sale - -Loans and Leases:

Unsecured Credit Card Loans 28,310,484 29,436,830 All Other Unsecured Loans / Lines of Credit 4,249,259 4,596,652 New Vehicle Loans 44,933,632 77,065,132 Used Vehicle Loans 66,170,594 75,965,181 1st Mrtg Real Estate Loans / LOC 96,955,205 96,359,442 Other Real Estate Loans / LOC 26,908,657 25,758,180 All Other Loans / LOC 29,156,831 36,271,183 Gross Loans 296,684,662 345,452,600 Allowance for Loan & Lease Losses (6,669,357) (3,782,593)

Net Loans 290,015,305 341,670,007

Foreclosed & Repossed Assets:

Other Real Estate Owned 136,510 110,000 Asset acquired in liquidation (Automobiles) 33,119 94,592 Total Foreclosed & Repossed Assets 169,629 204,592 Fixed Assets:

Land and Building 17,160,097 18,117,345 Leasehold Improvements 113,198 166,907 Furniture & Equipment 3,524,278 2,131,010 Total Fixed Assets 20,797,573 20,415,262

National Credit Union Share Insurance Fund deposit 4,068,467 4,236,787 Other Assets:

Accrued Interest - Loans 1,015,128 1,148,349 Accrued Interest - Investments 374,117 334,243 All Other Assets 1,789,660 3,268,876 Total Other Assets 3,178,905 4,751,468 TOTAL ASSETS $ 463,864,395 $ 504,908,663

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12/31/2013 12/31/2014 LIABILITIES & EQUITY

Shares / Deposits:

Share Drafts $ 96,748,303 $ 103,653,950 Regular Shares 124,525,615 148,033,050 Money Market Shares 123,057,745 120,141,993 Share Certificates 34,513,419 40,631,235 Total Shares 378,845,082 412,460,228

IRA/Keogh Accounts 32,217,361 31,294,785

Total Shares / Deposits 411,062,443 443,755,013 Accounts Payable & Other Liabilities 1,685,821 4,489,860 All other liabilities 2,202,547 1,905,715 Total Accrued Expenses & Other Liabilities 3,888,368 6,395,575

Total Liabilities 414,950,811 450,150,588

Members' Equity

Regular Reserves 2,935,208 2,935,208 Undivided Earnings 45,773,002 49,050,872 Accumulated Unrealized Gains (Losses) on AFS (3,109,959) (633,771) Other Comprehensive Income 26,958 (6,483) Equity Acquired in Merger 10,860 10,860 Net Income (YTD) 3,277,515 3,401,389 Total Members' Equity 48,913,584 54,758,075 TOTAL LIABILITIES & MEMBER'S EQUITY $ 463,864,395 $ 504,908,663

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Insight Credit Union

Income Statement

12/31/2013 12/31/2014 INTEREST INCOME

Interest on Loans $ 17,082,874 $ 16,834,906 Income from Investments 1,653,503 2,056,718 Total Interest Income 18,736,377 18,891,624 INTEREST EXPENSE

Dividends on Shares 779,266 830,509 Interest on Deposits 695,443 537,689 Interest on Borrowed Money - -Total Interest Expense 1,474,709 1,368,198 NET INTEREST INCOME (Net Interest Margin) 17,261,668 17,523,426 Total Provision for Loan & Lease Losses 3,345,580 981,754 NET INTEREST INCOME After PLL 13,916,088 16,541,672 NON-INTEREST INCOME

Fees and Service Charges 4,176,977 4,079,648 Other Non-Interest Income 4,266,037 4,561,376 Gain on Sale of Mortgage loans, net - -Gain on Sale of Investments, net - -Gain on Disposition of Fixed Assets, net - -Gain on Disposition of Assets Acquired in Liquidation, net 272,843 283,412 Total Non-Interest Income 8,715,857 8,924,436 NON-INTEREST EXPENSE

Employee Compensation & Benefits 9,291,996 9,812,553 Travel and Conference 155,101 160,123 Operations 2,080,043 2,478,905 Professional and Outside Services 2,372,662 2,928,585 Member Insurance 325,477 -Occupancy 1,890,590 2,098,940 Loan Servicing 1,756,999 2,002,784 Education and Promotion 905,985 1,065,271 Operating Fees (Exam / Supervision fees - NCUA Assessment) 97,515 100,533 Loss on Sale of Mortgage loans, net - -Loss on Sale of Investments, net 20,199 83,529 Loss on Disposition of Fixed Assets, net 34,407 479,016 Loss on Disposition of Assets Acquired in Liquidation, net - -Miscellaneous Operating Expenses 423,456 854,480 Total Non-Interest Expense 19,354,430 22,064,719 NET INCOME (LOSS) $ 3,277,515 $ 3,401,389 Distribution of Income

Regular Reserves Transfer - -Appropriated Earnings 3,277,515 3,401,389 Dividends 1,474,709 1,368,198 TOTAL DISTRIBUTION OF INCOME 4,752,224 4,769,588

Members 53,028 56,259

Delinquency 4,358,854 3,289,091

YTD Charge Offs 5,296,733 4,634,780

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