Imagine what we can do together.

As the Credit Union entered the final year of its three-year plan, I am proud of the accomplishments made thus far and extremely excited for what lies ahead. In 2015,

we continued to drive initiatives that benefited all Members, investing in services to create greater access as well as those that allow us to personalize Member service.

Starting with our center of Operational Excellence, we completed a major remodel of our International Drive location that included removing the legacy video tellers and completely opening up the space to help us deliver the personal service that our Members deserve. Other improvements were made through the ‘working’ floors of the building to help us better coordinate and deliver more efficient Member service by changing the communication and collaborative flow of the building. Another key enhancement that came as a result of the laser focus on Member service was the update and development of a refreshed mobile banking application. This is all part of our multi-year plan of creating a seamless Member experience.

Driven by our passion for technology and security, we completed the migration over to EMV chip-enhanced technology in Q4 of 2015 and began issuing new cards to our Membership. This was a significant undertaking for Partners, requiring a multi-team, bi-coastal effort, to effectively reissue over 45,000 credit cards and about 100,000 debit cards with the new EMV technology. This undertaking is also evident of our position in the market as an innovator and leader, true to the Disney heritage, as much of the EMV process was untested and still in development while we navigated the process.

On a more traditional note, 2015 was filled with metrics that would make our Members proud. Your Credit Union saw 8.8% loan growth including a record $252 million in home loans, net Membership growth over 7.5%, and share growth over 9.0%. The reality of these numbers isn’t our financial performance, but the fact that we are helping more Members than ever before realize their dreams by helping them purchase homes, afford vehicles for their families, and prepare for their futures.

Looking ahead to 2016 and beyond, your credit union has ambitious plans to deliver upon its goal of greater access and convenience. However, we will not stop there—in 2015, we were able to extend our education program through new delivery methods and additional workshops. Our philosophy is to provide valuable content across a variety of methods, allowing our Members to personalize their consumption.

Thank you for your continued support. As a Member-owned cooperative, our Credit Union exists to enrich the lives of its Membership in many ways. As we like to remind ourselves, ‘Imagine What We Can Do Together.’

John JanclaesPresident/CEO, Partners Federal Credit Union

Reflecting on the previous year, I am excited to see that Partners now serves over 120,000 Members and their families, and helps them achieve their financial dreams.

As the Credit Union continues to grow and help more Members, its commitment to service remains a key focus, from its dedicated Cast to investments in technology and services such as mobile banking. In 2015, Partners expanded its service delivery throughout The Walt Disney Company’s (TWDC) locations, as well as improved upon its existing service delivery.

Successful financial management remains a core tenet of Partners, and I am pleased to share that our Credit Union continues to be well capitalized. As of December 31, 2015, Assets increased to $1.4 billion, Net Worth continues to be strong at 11.59%, and Net Membership grew by 7.5%. In fact, the Credit Union welcomed over 15,000 new Members, experiencing growth in all market areas.

While your Credit Union embraces its personalized service with a rich tradition of Cast serving Cast, it continues to invest in technology and tools that enable and expand its service delivery. The goal is to provide the same breadth and depth of financial offerings as the largest commercial banks while embodying the Partners Difference with Disney’s magical touch. As we turn the corner, we will also focus our technology resources for constant improvement on our core infrastructure in order to serve and protect our Members every step of the way. 2016 brings further expansion, including the introduction of Samsung Pay and Android Pay, as we continue to invest in ways to enable our Members to pay how and when they want.

Partners has remained committed to supporting key TWDC initiatives, ensuring a thriving environment of the Disney culture. Over the year, several exclusive integrated marketing based membership campaigns were made possible through this dedication to the Disney connection with the support of their Disney partners. Additionally, we have been able to give back to the TWDC community through our annual scholarship program, support of DATG Corporate Citizenship initiatives, and Disney Conservation Fund Environmentality support. I am proud of the accomplishments in 2015 and excited about the year ahead. Your Credit Union remains a unique partner to every Member it serves, one that truly seeks to enrich the financial lives of its Membership. I am honored to be a part of a Credit Union with a talented and committed leadership team and staff serving our Members with dedication and incredible work.

Thank you for your continued Membership.

John WalshChairman, Partners Federal Credit Union

STATEMENT OF FINANCIAL CONDITION(as of December 31, 2015)

STATEMENT OF INCOME (as of December 31, 2015)

ASSETSLoans, net of allowance for loan losses of $13,775,703

$1,198,721,310

Investments available for sale, at fair value 38,908,320Federal Home Loan Bank stock, at cost 4,554,100Loans held for sale 6,853,178Cash and cash equivalents 120,264,320Accrued interest receivable 4,391,925Premises and equipment, net 18,744,604National Credit Union Share Insurance Fund Deposit

11,092,260

Other assets 12,183,419Total Assets $ 1,415,713,436

LIABILITIES & MEMBER EQUITYMembers’ Shares 1,232,791,697Accrued Expenses & Other Liabilities 18,193,697Total Liabilities $ 1,250,985,394

MEMBERS’ EQUITYRetained Earnings 164,081,619Accum. Other Comprehensive Income 646,423Total Member’s Equity $ 164,728,042Total Liabilities and Members’ Equity $ 1,415,713,436

INTEREST INCOMELoans $ 58,992,525Investments and cash equivalents 1,413,230Total Interest Income $ 60,405,755

INTEREST EXPENSEMembers’ shares 6,779,677Borrowed funds -Total Interest Expense $ 6,779,677

PROVISION FOR LOAN LOSSES 5,671,040NET INTEREST INCOME $ 47,955,038

OTHER OPERATING INCOME 30,550,898

OPERATING EXPENSESSalaries and benefits 29,404,661Operations 12,242,248Loan servicing 4,558,326Occupancy 8,082,851Debit card processing 3,150,394Communications 1,763,491Marketing 1,360,320Loss on disposition of foreclosed properties 341,409Total Non-interest Expense $ 60,903,700NET INCOME $ 17,602,236

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Responsible for evaluating the Credit Union’s operations, the Supervisory Committee reviews accounting records, oversees internal controls, and ensures that Partners is accomplishing the duties outlined in its charter. To help with this process, the committee engaged the services of Crowe Horwath LLP, a certified public accounting firm, to administer internal reviews of control and financial procedures, which established that Partners Federal Credit Union’s financial statements are in compliance with generally accepted accounting principles.

Supervisory Committee MembersGerry Dunning, ChairmanCourtney CappaDawn Ellis

The Member Service Advisory Committees (MSAC) interface with the Credit Union’s Board of Directors and management on behalf of Disney Cast Members and employees. There are three committees; each participates in strategic planning processes with the Board and plays a critical role in helping the Credit Union deliver exceptional financial experiences for its Member-owners.

Member Service Advisory Committee Chairs

ORLANDOBeverly Martin

BURBANKJack Anastasia

ANAHEIMRobyn VossenCindy Luttrel

Grace Yang

2011 2012 2013 2014 2015

PartnersFCU.org • 800.948.6677

©Partners FCU

Made up of volunteers who represent the Partners Members, the Partners Board of Directors sets the strategic direction of the Credit Union. The Board meets monthly to review financial reports, budgets, and expenses, and to adopt resolutions related to rates, business objectives, and policies.

John Walsh Chairman

Alden Weiss Vice-Chairman

Debbie Bales Director

Dennis Ciolli Director

Kathy Clark Director

Bob Cunningham Director

Mark Gustovich Director

Marsha Reed Director

Tom Tancredi Director, Secretary/Treasurer

Jaye Thompson Director

Jack Yellin Director

CALIFORNIA Team Disney Anaheim Express2 700 West Ball Road Harbor Pointe 1313 S. Harbor Blvd. Katella 2401 East Katella Avenue Buena Vista Plaza 2411 West Olive Avenue Walt Disney Studio Lot 500 S. Buena Vista Street Fullerton 1501 East Orangethorpe Avenue GC3 Campus 1201 Flower Street

1 Hours and services vary by location. Check with your local branch.2 Express branches do not handle cash transactions.Federally insured by the NCUA.

FLORIDA Team Disney 1375 Buena Vista Drive Disney University 5555 North Center Drive International Drive 13705 International Drive South Magic Kingdom® Park Express2 Tunnel, Workforce Management Disney’s Hollywood StudiosTM Express2

Ops. 1, First Floor Epcot® Express2

1510 N. Avenue of the Stars