COMMISSION CHANGES MEETING DATES

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914 East Anderson Lane, Austin, Texa s 78752 - 1699 Tel. (512) 837 - 9236 Fax (512) 832 - 0278 No. 09-03 September 30, 2003 e-mail: info@tcud.state.tx.us web address: www.tcud.state.tx.us COMMISSION CHANGES MEETING DATES With the voters 9 approval of Proposition 16, the Credit Union Commission has the power to issue interpretations on the home equity lending provisions of the Texas Constitution.

In order to ensure that these home equity loan interpretations are available for credit unions as early as possible, the Commission has determined that adjustments to its regular meeting schedule are necessary. Accordingly, the following is the revised schedule through the end of calendar year 2004: October 23, 2003 December 18, 2003 February 20, 2004 June 18, 2004 October 22, 2004 December 17, 2004 Each of the above meetings will begin at 9:00 a.m. The location of the meetings will change from the Department 9s office to Room E1.030 of the Capitol Extension.

HOME EQUITY INTERPRETATIONS In accordance with the provisions of SB 1067, the Credit Union Commission is authorized to issue interpretations of certain parts of Section 50, Article XVI, of the Texas Constitution. A rule outlining the procedure a party must follow in order to request an interpretation ... more. less.

is currently being drafted. We anticipate that this draft will be provided to the Commission for deliberation and possible approval for publication on October 23, 2003. Once published, and following a thirty-day comment period, the Commission can consider it for adoption at its next scheduled meeting (December 18, 2003). Until such time as the Credit Union Commission adopts procedures for handling interpretation requests, the Department is not empowered to accept any such request. 914 East Anderson Lane, Austin, Texa s 78752 - 1699 Tel. (512) 837 - 9236 Fax (512) 832 - 0278 Further, credit unions are reminded that the authority to issue home equity interpretations rest solely with the Credit Union Commission. Therefore, the Commissioner and Department staff cannot provide guidance or opinions on potential interpretations of the home equity provisions in the Texas Constitution. Credit unions are encouraged to seek the advise of their legal counsel on such matters. The Department will provide credit unions with notice when the Commission formally adopts any interpretation. LEGISLATIVE ADVISORY COMMITTEE MEETING DATES To accommodate the changes in the Commission 9s meeting schedule, the dates of the Legislative Advisory Committee meetings have also been adjusted. The Committee will now be meeting at 9:00 a.m. at the Department 9s office on November 21, 2003, January 16, 2004, May 21, 2004, and September 17, 2004. RESTRICTIONS ON PRINTING A MEMBER 9S SOCIAL SECURITY NUMBER A bill (SB 611), which was recently passed during the 78th Legislative Session, tightens Texas privacy laws concerning the printing of social security numbers. Specifically, the bill amends Chapter 35 of the Texas Business and Commerce Code by adding Section 35.58. The new law provides that a credit union may not print a member's social security number on a card or other device required to access a product or service unless the member has requested such printing in writing. A credit union may not require a request for such printing as a condition to receipt of or access to a product or service provided by the credit union. The law does not apply to: 1) the collection, use, or release of a social security number that is required by state or federal law; or 2) the use of a social security number for internal verification or administrative purposes. Credit unions not in compliance by the bill 9s effective date (March 1, 2005) may be subject to a fine not to exceed $500 for each violation. CALL REPORTS Call reports and diskettes for the quarter ending September 30, 2003, will be mailed to each credit union on October 1 st . Credit Unions with assets under $10 million will have the option of submitting the 5300F short version or the standard 5300 version of the call report. Credit unions with assets greater than $10 million must continue to submit the standard 5300 version. The call report diskettes must be received in the Department 9s office or the data transmission files uploaded directly to NCUA via the Internet on or before October 22, 2003 . Reports received after that date will be assessed a late fee. Please direct any questions to Isabel Velasquez, Executive Assistant at (512) 837-9236. 914 East Anderson Lane, Austin, Texa s 78752 - 1699 Tel. (512) 837 - 9236 Fax (512) 832 - 0278 APPLICATIONS APPROVED Applications approved since August 31, 2003 include: Field of Membership Change(s) Approved: Credit Union Changes or Groups Added Houston Energy Credit Union (Houston) See Newsletter No. 07-03 Texans Credit Union (Richardson) -- Modified See Newsletter No. 07-03 Members of the Friends of the Texas Credit Union Foundation who live, work, or attend school in Grayson, Denton, Collin, Tarrant, Dallas, Williamson, Travis Harris and Fort Bend County, Texas OmniAmerican Credit Union (Fort Worth) (#1) See Newsletter No. 08-03 OmniAmerican Credit Union (Fort Worth) (#2) See Newsletter No. 08-03 EECU (Fort Worth) (#1) See Newsletter No. 08-03 EECU (Fort Worth) (#2) See Newsletter No. 08-03 EECU (Fort Worth) (#3) See Newsletter No. 08-03 EECU (Fort Worth) (#4) See Newsletter No. 08-03 EECU (Fort Worth) (#5) See Newsletter No. 08-03 MemberSource Credit Union (Houston) See Newsletter No. 08-03 BP Employees Credit Union (Alvin) (#1) See Newsletter No. 08-03 BP Employees Credit Union (Alvin) (#2) See Newsletter No. 08-03 The Education Credit Union (Amarillo) See Newsletter No. 08-03 South Texas Area Resources Credit Union (Corpus Christi) See Newsletter No. 08-03 PriorityOne Credit Union (Dallas) (#1) See Newsletter No. 08-03 PriorityOne Credit Union (Dallas) (#2) See Newsletter No. 08-03 PriorityOne Credit Union (Dallas) (#3) See Newsletter No. 08-03 APPLICATIONS RECEIVED The following applications were received and published in the September 26, 2003 issue of the Texas Register. Field of Membership Expansion(s): Lone Star Credit Union (Dallas) -- To permit employees of Sonny Bryan 9s Smokehouse of Dallas, Texas, to be eligible for membership in the credit union. Houston Energy Credit Union (Houston) 3 To permit employees of Altivia Corporation, Houston, Texas, to be eligible for membership in the credit union. Texas Employees Credit Union (Dallas) 3 To permit employees of Janet Collinsworth, P.C. who work in Plano, Texas, to be eligible for membership in the credit union. 914 East Anderson Lane, Austin, Texa s 78752 - 1699 Tel. (512) 837 - 9236 Fax (512) 832 - 0278 Applications Received (Continued): Community Credit Union (Plano) (#1) 3 To permit the Community Credit Union Foundation and members and employees of the Community Credit Union Foundation, to be eligible for membership in the credit union. Community Credit Union (Plano) (#2) 3 To permit persons who work or reside in, attend school in, are paid from, business and non-business entities, organizations and associations within Fannin County, to be eligible for membership in the credit union. Community Credit Union (Plano) (#3) -- To permit persons who work or reside in, attend school in, are paid from, business and non-business entities, organizations and associations within Hunt County, to be eligible for membership in the credit union. Community Credit Union (Plano) (#4) -- To permit persons who work or reside in, attend school in, are paid from, business and non-business entities, organizations and associations within Denton County, to be eligible for membership in the credit union. Community Credit Union (Plano) (#5) -- To permit persons who work or reside in, attend school in, are paid from, business and non-business entities, organizations and associations within Johnson County, to be eligible for membership in the credit union. Community Credit Union (Plano) (#6) 3 To permit persons who work or reside in, attend school in, are paid from, business and non-business entities, organizations and associations within Hood County, to be eligible for membership in the credit union. Community Credit Union (Plano) (#7) 3 To permit persons who work or reside in, attend school in, are paid from, business and non-business entities, organizations and associations within Ellis County, to be eligible for membership in the credit union. Community Credit Union (Plano) (#8) -- To permit persons who work or reside in, attend school in, are paid from, business and non-business entities, organizations and associations within Tarrant County, to be eligible for membership in the credit union. Community Credit Union (Plano) (#9) 3 To permit persons who work or reside in, attend school in, are paid from, business and non-business entities, organizations and associations within Wise County, to be eligible for membership in the credit union. Community Credit Union (Plano) (#10) 3 To permit persons who work or reside in, attend school in, are paid from, business and non-business entities, organizations and associations within Kaufman County, to be eligible for membership in the credit union. 914 East Anderson Lane, Austin, Texa s 78752 - 1699 Tel. (512) 837 - 9236 Fax (512) 832 - 0278 Applications Received (Continued): Community Credit Union (Plano) (#11) 3 To permit persons who work or reside in, attend school in, are paid from, business and non-business entities, organizations and associations within Parker County, to be eligible for membership in the credit union. 1 st University Credit Union (Waco) 3 To permit persons who live, work, or attend school within the following geographic area: (a) East of I-35 bounded by I-35, University Parks Drive, Route 340 and Robinson Drive; (b) West of I-35 bounded by I-35, Valley Mills Drive, Waco Drive, and University Parks Drive; and (c) West of I-35 bounded by 18 th Street, Herring Avenue, Gholson Road, U.S. Highway 84, and I-35, to be eligible for membership in the credit union. Comments or a request for a meeting by any interested party relating to an application must be submitted in writing within 30 d ays from the date of this publication. Credit unions that wish to comment on any application must also complete a Notice of Protest form. The form may be obtained by contacting the Department at (512) 837-9236 or downloading the form at http://www.tcud.state.tx.us/applications.html . Any written comments must provide all information that the interested party wishes the Department to consider in evaluating the application. All information received will be weighed during consideration of the merits of an application. Comments or a request for a meeting should be addressed to the Texas Credit Union Department, 914 Ea st Anderson Lane, Austin, Texas 78752-1699 . Merger(s) or Consolidation(s) Changes: An application was received from THD District 4 Credit Union (Amarillo) seeking approval to merge with The Education Credit Union (Amarillo) with the latter being the surviving credit union. Comments or a request for a meeting by any interested party relating to an application must be submitted in writing within 30 d ays from the date of this publication. Any written comments must provide all information that the interested party wishes the Department to consider in evaluating the application. All information received will be weighed during consideration of the mer its of an application. Comments or a request for a meeting should be addressed to the Texas Credit Union Department, 914 East Anderson Lane, Austin, Texas 78752-1699. PUBLISHING NOTICE OF APPLICATIONS IN THE TEXAS REGISTER (www.sos.state.tx.us) In order to meet the submission deadlines for the applicable issues of the Texas Register, it is necessary for the Department to establish the following schedule. Because of the Texas Register printing schedules, completed applications received after the deadline for the month cannot be published until the following month . For an Application Deadline for Receipt Comment Period To be Published of An Application Will Conclude on October 2003 Friday, October 17 November 30 November 2003 Friday, November 14 December 30 December 2003 Friday, December 12 January 30 914 East Anderson Lane, Austin, Texa s 78752 - 1699 Tel. (512) 837 - 9236 Fax (512) 832 - 0278 TELEPHONE INQUIRIES UPDATE Your telephone inquiries are very important to us, and we want to be sure that you are referred to the appropriate person in the Department for your answer. Questions relating to examination related issues should be directed to James Deese or Robert Baxter. Questions relating to field of membership as and mergers should be directed to Kerri Galvin or Linda Clevlen. Questions on call reports and the comment period on proposed rules should be directed to Isabel Velasquez or Robert Baxter. We certainly encourage you to continue to call the office for advice, counsel and specific questions about your credit union, or the examination of your credit union. We are most willing to discuss these areas with you at any time. COMMISSION RULE REVIEW The Credit Union Commission will review and consider Chapter 91, §§91.105 (applications), 91.110 (Protest), 91.115 (ATM Safety), 91.120 (Notice of Loan Agreements), 91.202 (Form of Bylaws), 91.205 (Use of Credit Union Name), 91.210 (Certificate of Authority), 91.401 (Operational Powers), 91.405 (Records Retention), 91.501 (Eligibility to Hold Office), 91.515 (Financial Reporting), and 91.516 (Audits and Verification of Accounts). The Commission, in accordance with its policy, regularly reviews and revisits each of its rules. Although no major changes or additions are currently anticipated, the Commission is soliciting feedback from the credit union movement on the delineated rules.

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