2024-04-12T20:39:55-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 1145 BROADWAY SUITE 900 TACOMA WA 98402 990 2023-01-01 750275573 FORT WORTH CITY CREDIT UNION FORT 8177322803 PO BOX 100099 FORT WORTH TX 761850099 MICHELLE JUSTICE CFO 8177322803 2024-04-09 1 MICHELLE JUSTICE 999009999 0 ROSALINDA MARIKAR CPA P01684134 2532721555 2024-04-08 3 AAL1 IAL1 2023 2023-04-26 12:10:37Z RON FOX PO BOX 100099 FORT WORTH TX 761850099 12382767 0 X WWW.FWCCU.ORG X 1929 TX THE CREDIT UNION PROVIDES A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS. ITS PRIMARY DEPOSIT PRODUCTS ARE SHARE ACCOUNTS, CERTIFICATES OF DEPOSIT, AND SHARE DRAFT ACCOUNTS, WHILE ITS PRIMARY LOAN PRODUCTS ARE SINGLE FAMILY RESIDENCE AND CONSUMER LOANS. 9 9 53 9 170265 0 0 0 8357165 9614521 2243677 2597981 488184 170265 11089026 12382767 0 4586 0 0 3604973 3718836 0 0 0 4780760 6326096 8385733 10049518 2703293 2333249 303013348 300482440 271605837 267206532 31407511 33275908 X THE CREDIT UNION PROVIDES A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS. ITS PRIMARY DEPOSIT PRODUCTS ARE SHARE ACCOUNTS, CERTIFICATES OF DEPOSIT, AND SHARE DRAFT ACCOUNTS, WHILE ITS PRIMARY LOAN PRODUCTS ARE SINGLE FAMILY RESIDENCE AND CONSUMER LOANS. 1 0 LOANS: PROVIDING CONSUMER LOANS OF ALL TYPES, INCLUDING VEHICLE LOANS, UNSECURED LOANS, AND CREDIT CARDS. ALSO OFFERING RESIDENTIAL MORTGAGES AND SMALL BUSINESS LOANS. SHARE SAVINGS ACCOUNTS: PROVIDING SHARE SAVINGS ACCOUNTS TO MEMBERS, OFFERING SPECIAL SHARE SAVINGS ACCOUNTS FOR MINORS. CHECKING ACCOUNTS: PROVIDING CHECKING ACCOUNTS WITH VARYING FEATURES. OFFERING BENEFITS SUCH AS ATM ACCESS, DEBIT CARDS AS WELL AS ON-LINE BENEFITS SUCH AS BILL PAYING. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 7924 0 1 53 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 0 0 1 1 1 1 1 0 1 1 1 1 0 X MICHELLE JUSTICE CFO 8177322803 2309 MONTGOMERY ST FORT WORTH TX 76107 ELSA PANIAGUA CHAIR 1.00 X X 0 0 0 RANDLE HARWOOD VICE CHAIR 1.00 X X 0 0 0 CHARLIE RAMIREZ SEC/TREASURER 1.00 X X 0 0 0 FELESHIA COCHRAN DIRECTOR 1.00 X 0 0 0 FERNANDO GONZALEZ DIRECTOR 1.00 X 0 0 0 YOLANDA GONZALEZ DIRECTOR 1.00 X 0 0 0 BOB RILEY DIRECTOR 1.00 X 0 0 0 PAT SVACINA DIRECTOR 1.00 X 0 0 0 DAVID YETT DIRECTOR 1.00 X 0 0 0 RON FOX PRESIDENT & CEO 40.00 X 291254 0 100385 MICHELLE JUSTICE CHIEF FINANCIAL OFFICER 40.00 X 119866 0 58671 ODIE OZUNA VP OF LENDING 40.00 X 126083 0 45812 ROSS GENTIS VP OF INFORMATION SYSTEM 40.00 X 131004 0 46512 GINGER RENDON VP OF MEMBER SERVICES 40.00 X 107417 0 25650 775624 0 277030 5 0 1 0 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 CORE, CARDS, AND DIGITAL PROCESSOR 675631 1 INTEREST ON MEMBER LOANS 522100 6566825 6566825 FEES AND CHARGES 522100 2728226 2728226 LIFE INSURANCE POLICY 524298 178311 178311 GAP INSURANCE 522100 122619 122619 INVESTMENT ADVISORY INCOME 522100 18540 18540 9614521 2597981 2597981 AMERICAN NTI INSURANCE 524298 116833 116833 WARRANTY INSURANCE 524298 30427 30427 INSURANCE INCOME 524298 23005 23005 170265 12382767 9614521 170265 2597981 4586 742070 2372605 183515 219959 200687 21796 16122 52122 172 11317 155488 116873 528631 86172 2755538 306221 70621 DEBIT CARD EXP 864523 MAINTENANCE SFTWARE HAR 557798 PROVISION FOR LOAN LOSS 268268 BANK SERVICE CHARGES 204085 310349 10049518 4358700 4186115 85341180 79224049 1331429 1402169 136796922 148934339 831097 820410 6124947 4258247 2098488 1866700 60760777 52531894 11494755 11516764 303013348 300482440 1961807 2660277 269644030 264546255 271605837 267206532 X 0 0 0 0 31407511 33275908 31407511 33275908 303013348 300482440 X 2333249 -464852 X 0 1 X 1 0 385585 385585 2475512 1468127 1007385 1651773 1330527 321246 1612077 1459593 152484 1866700 FEDERAL AGENCY SECURITIES 15783503 F MORTGAGE BACKED SECURITIES 36748391 F 52531894 MEMBERS' SHARES 155883926 OTHER MEMBERS' DEPOSITS 108662329 264546255 X 12382767 0 12382767 0 12382767 10049518 0 10049518 0 10049518 PART X, LINE 2: THE CREDIT UNION'S INCOME RELATED TO PERFORMANCE ACTIVITY IS EXEMPT, BY STATUTE, FROM FEDERAL TAXES, BUT AS A STATE CHARTERED CREDIT UNION, AS DESCRIBED IN THE INTERNAL REVENUE CODE, SECTION 501(C) 14, UNRELATED BUSINESS INCOME, AS DEFINED IN SECTION 512, CAN BE SUBJECT TO TAXATION. IN EARLY AUGUST OF 2009, THE IRS RELEASED A NEW TECHNICAL ADVICE MEMORANDUM (TAM) STATING THE INCOME DERIVED BY STATE CHARTERED CREDIT UNIONS FROM SHARED-BRANCHING ARRANGEMENTS, MANAGEMENT SERVICES TO OTHER CREDIT UNIONS, CERTAIN CUSOS, AND SALES OF FINANCIAL MANAGEMENT SERVICES AND CERTAIN INSURANCE PRODUCTS ARE SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). X 1 1 X X 0 1 0 RON FOX PRESIDENT & CEO 276079 0 13987 0 1188 0 61366 0 39019 0 391639 0 0 0 MICHELLE JUSTICE CHIEF FINANCIAL OFFICER 118603 0 1083 0 180 0 40090 0 18581 0 178537 0 0 0 ROSS GENTIS VP OF INFORMATION SYSTEM 129778 0 812 0 414 0 33972 0 12540 0 177516 0 0 0 ODIE OZUNA VP OF LENDING 124857 0 812 0 414 0 33375 0 12437 0 171895 0 0 0 PART I, LINE 1A TRAINING CONFERENCE EXPENSES FOR CERTAIN EMPLOYEES WERE PAID USING A COMPANY CREDIT CARD. THE EXPENSES WERE NOT REPORTED IN THE RECIPIENT'S W-2S. PART I, LINE 4B SECTION 457(F) DEFERRED COMPENSATION PLAN - MICHELLE JUSTICE & ROSS GENTIS - NO DISTRIBUTIONS IN 2023 RON A FOX PRESIDENT SPLIT DOLLAR LIFE INSURANCE X 1300000 1402169 0 1 1 1402169 FORM 990, PART III, LINE 2 THE CREDIT UNION STARTED OFFERING SUBPRIME AUTO LENDING AND BALLOON AUTO LOANS TO ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 6 THE FIELD OF MEMBERSHIP IN THIS CREDIT UNION IS LIMITED TO THE FOLLOWING PERSONS: 1. EMPLOYEES OF THE CITY OF FORT WORTH, TEXAS; 2. EMPLOYEES OF MEDSTAR; 3. EMPLOYEES OF MUSEUMS LOCATED WITHIN THE CITY OF FORT WORTH, TEXAS; 4. FULL-TIME EMPLOYEES OF COMPANIES THAT CONTRACT WITH THE CITY OF FORT WORTH TO PROVIDE SERVICES ON AN ON-GOING BASIS; 5. PERSONS WHO ARE RECEIVING RETIREMENT, PENSIONS, OR OTHER BENEFITS AS A RESULT OF PRIOR EMPLOYMENT BY ANY BUSINESS OR ORGANIZATION INCLUDED WITHIN THIS FIELD OF MEMBERSHIP; 6. SPOUSES OF PERSONS WHO DIED WHILE WITHIN THE FIELD OF MEMBERSHIP OF THIS CREDIT UNION; 7. PERSONS WHO LIVE, WORK, ATTEND SCHOOL OR WORSHIP IN TARRANT COUNTY OR ANY COUNTY IN WHICH THE CORPORATE BOUNDARIES OR EXTRATERRITORIAL JURISDICTIONS OF THE CITY OF FORT WORTH ARE LOCATED WITHIN; 8. MEMBERS OF THE ALL SAINTS CATHOLIC PARISH IN FORT WORTH, TEXAS; 9. EMPLOYEES OF THIS CREDIT UNION; 10. MEMBERS OF THEIR IMMEDIATE FAMILIES; AND 11. THE FOLLOWING ORGANIZATIONS MADE UP OF MEMBERS OF THE PARISH: HOLY NAME SOCIETY IMMACULATE HEART SOCIETY BOY SCOUTS GIRL SCOUTS CLARET CLUB C.Y.O. CLUB CONFRATERNITY OF CHRISTIAN DOCTRINE HIJAS DE MARIA SOCIETY LEGION OF MARY MT. CARMEL HOME AND SCHOOL ASSOCIATION ST. JOSE HOME AND SCHOOL ASSOCIATION AND MEMBERS OF THE FAMILY OF SUCH PERSONS. THE FIELD OF MEMBERSHIP ALSO INCLUDES EMPLOYEES OF THE CREDIT UNION AND MEMBERS OF THEIR FAMILIES. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION'S MEMBERS MAY ELECT VOLUNTEERS TO SERVE ON THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 8B THE EXECUTIVE COMMITTEE DOESN'T HAVE THE AUTHORITY TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PRESENTED TO THE BOARD FOR APPROVAL UPON RECEIPT FROM OUR AUDITORS AND PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 15 SEVERAL FACTORS COME IN TO PLAY WITH DETERMINING SALARY: JOB PERFORMANCE, CURRENT SALARY IN RELATION TO THE PAY GRADE ESTABLISHED BY BOARD OF DIRECTORS, AND CURRENT SALARY IN RELATION TO PEER DATA PROVIDED BY INDEPENDENT INDUSTRY SOURCES. ANY KEY EMPLOYEE RECOMMENDED FOR A RAISE NOT COMPARABLE TO ALL EMPLOYEES IS APPROVED BY PERSONNEL COMMITTEE OF THE BOARD OF DIRECTORS. FORT WORTH CITY CREDIT UNION HAD AN INDEPENDENT SURVEY DONE IN 2023 TO ASSIST IN DETERMINING EXECUTIVE AND OTHER OFFICER SALARIES AND BENEFITS. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS WILL BE GIVEN OUT UPON A WRITTEN REQUEST, CONFLICT OF INTEREST POLICY IS ALSO AVAILABLE UPON REQUEST AND THE FINANCIAL STATEMENTS ARE DISPLAYED IN THE LOBBY FOR PUBLIC VIEWING. FORM 990, PART XI, LINE 9: DEFINED BENEFIT PLAN - OTHER COMPREHENSIVE INCOME GAIN (LOSS) 56. POST RETIREMENT PLAN - OTHER COMPREHENSIVE INCOME GAIN (LOSS) -112,108. CECL PROVISION -352,800.