2025-03-25T09:31:39-05:00 2024-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2024-01-01 741162836 SHARED RESOURCES CREDIT UNION SHAR 7134739244 2102 E PASADENA FREEWAY PASADENA TX 77506 STEPHANIE SALAZAR PRESIDENT/CEO 7134739244 2025-03-24 1 0 JENIFER L CHASE P01306883 5638884000 2025-03-24 2024 2025-03-06 01:10:19Z STEPHANIE SALAZAR 2102 E PASADENA FREEWAY PASADENA TX 77506 2284207 0 X WWW.SRCU.NET X 1949 TX SHARED RESOURCES CREDIT UNION IS COMMITTED TO SERVING THE NEEDS OF OUR MEMBERS BY PROVIDING QUALITY SERVICES IN A CONSCIENTIOUS MANNER THAT WILL DEVELOP NEW BUSINESS AND ENHANCE EXISTING RELATIONSHIPS. 9 9 9 9 8702 0 0 0 1809743 1938986 349214 287731 0 0 2158957 2226717 0 0 0 0 572210 690086 0 0 0 1415667 1662930 1987877 2353016 171080 -126299 27246203 25888101 23900313 22668510 3345890 3219591 SHARED RESOURCES CREDIT UNION IS COMMITTED TO SERVING THE NEEDS OF OUR MEMBERS BY PROVIDING QUALITY SERVICE IN A CONSCIENTIOUS MANNER THAT WILL DEVELOP NEW BUSINESS AND ENHANCE EXISTING RELATIONSHIPS. 0 0 SHARE ACCOUNTS - SHARED RESOURCES CREDIT UNION (THE CREDIT UNION) SHARE ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. THE CREDIT UNION HAD MORE THAN 2,911 MEMBER-OWNED ACCOUNTS ON DECEMBER 31, 2024. MEMBER SAVINGS ACCOUNTS PAY DIVIDENDS QUARTERLY AND OFFER ACCESS THROUGH THE BRANCH NETWORK, HOME BANKING VIA THE INTERNET, OR TELEPHONE AND ATMS. SPECIAL SAVINGS ACCOUNTS DEVELOPED FOR CHILDREN ENCOURAGE THE DEVELOPMENT OF CONSISTENT SAVINGS HABITS. TOTAL SAVINGS ACCOUNT DIVIDENDS PAID BY THE CREDIT UNION TO MEMBERS IS $55,728. CHECKING ACCOUNTS - SHARED RESOURCES CREDIT UNION (THE CREDIT UNION) PROVIDES CHECKING ACCOUNTS FOR CONSUMERS WITH VARIOUS FEATURES, WHICH INCLUDE RECEIVING DIVIDENDS ON A MONTHLY BASIS. ADDITIONALLY, THE CREDIT UNION EXTENDS THE REACH OF THESE ACCOUNTS TO ALL MEMBERS WITH FREE DEBIT CARDS, INTERNET ACCOUNT ACCESS AND FREE USE OF THE INTERNET BILL PAY PROGRAM. TOTAL CHECKING ACCOUNT DIVIDENDS PAID BY THE CREDIT UNION TO MEMBERS IS $36,266. CONSUMER LOANS - SHARED RESOURCES CREDIT UNION (THE CREDIT UNION) HAS PROVIDED PERSONAL LOANS SINCE ITS EARLY YEARS. THE CONSUMER LOAN PRODUCT LINE NOW INCLUDES EFFICIENT UNDERWRITING AND FLEXIBLE OFFERINGS FOR VEHICLES, RECREATIONAL VEHICLES, BOATS, MOTORCYCLES AND HOME EQUITY LOANS. CONSUMER LIFE AND DISABILITY INSURANCE IS AVAILABLE ON ANY OF THESE LOAN TYPES. AT 12/31/2024, THE CREDIT UNION HAD LOAN BALANCES OF $19,500,487. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 821 0 1 9 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 0 0 1 1 1 0 0 X X STEPHANIE SALAZAR 7134739244 2102 E PASADENA FREEWAY PASADENA TX 77506 SCOTT BUCHANAN DIRECTOR 1.00 X 0 0 0 CLYDE COXIE JR DIRECTOR 1.00 X 0 0 0 PATRICIA JOHNSON SECRETARY 1.00 X X 0 0 0 TERRY MULLINS TREASURER 1.00 X X 0 0 0 BENNETT RADIN CHAIR 1.00 X X 0 0 0 SHERRY RAMPHAL FORMER DIRECTOR 1.00 X 0 0 0 HOWARD ROTHMAN DIRECTOR 1.00 X 0 0 0 ERIC THOMPSON DIRECTOR 1.00 X 0 0 0 GARY TRUJILLO VICE CHAIR 1.00 X X 0 0 0 JOHN WHIGHAM DIRECTOR 1.00 X 0 0 0 STEPHANIE SALAZAR PRESIDENT/CEO 40.00 X 402015 0 27430 402015 0 27430 1 0 1 0 FISERV 600 N VEL R PHILLIPS AVE MILWAUKEE WI 53203 DATA PROCESSING 453095 1 LOAN INCOME 522100 1291140 1291140 FEES AND CHARGES 522100 561118 552416 8702 MISCELLANEOUS INCOME 522100 86728 86728 1938986 335721 335721 9500 57490 -47990 -47990 -47990 2226717 1930284 8702 287731 X 429445 109069 55301 43070 53201 16223 632169 49893 155940 256036 4978 24313 16440 53811 37769 DIVIDENDS PAID TO MEMBE 183503 PROVISION FOR LOAN LOSS 134279 LOAN SERVICES 65475 DUES AND SUBSCRIPTIONS 15008 17093 2353016 195213 15129 19884691 19244493 31637 30856 1352246 1150696 264199 201550 5729137 5230995 1141326 1165078 27246203 25888101 1233345 1645053 12111 14706 22654857 21008751 23900313 22668510 X 0 0 0 0 3345890 3219591 3345890 3219591 27246203 25888101 -126299 0 X 0 0 0 0 1 X 44721 44721 674609 586796 87813 632916 563900 69016 201550 JUMBO CERTIFICATES 5209000 C CATALYST CORP INVESTMENTS 21995 C 5230995 MEMBER SHARES 21008751 21008751 PART IV, LINE 2B: SHARED RESOURCES CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY REAL ESTATE TAXES AND INSURANCE ON BEHALF OF ITS MEMBERS WITH MORTGAGE LOANS. 0 1 0 STEPHANIE SALAZAR PRESIDENT/CEO 96335 0 0 0 305680 0 0 0 27430 0 429445 0 60710 0 PART I, LINE 4B STEPHANIE SALAZAR, CHIEF EXECUTIVE OFFICER, PARTICIPATED IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN IN 2024 SPONSORED BY SHARED RESOURCES CREDIT UNION. THE DISTRIBUTION AMOUNT OF $305,680 IS REPORTED AS REPORTABLE COMPENSATION ON FORM 990, PART VII AND SCHEDULE J, PART II. FORM 990, PART VI, SECTION A, LINE 6 SHARED RESOURCES CREDIT UNION HAS MEMBERS AS SPECIFIED IN ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A SHARED RESOURCES CREDIT UNION MEMBERS HAVE THE POWER TO ELECT MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B SHARED RESOURCES CREDIT UNION MEMBERS HAVE THE POWER TO APPOINT AND REMOVE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FINAL DRAFT OF THE FORM 990 IS SUBMITTED TO THE BOARD FOR REVIEW AND APPROVAL BEFORE FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE IS RESPONSIBLE FOR THE COMPENSATION REVIEW PROCESS FOR THE PRESIDENT/CHIEF EXECUTIVE OFFICER. THE EXECUTIVE COMMITTEE USES THE CORNERSTONE CREDIT UNION LEAGUE COMPENSATION SURVEY, ALONG WITH ITS REVIEW OF THE PRESIDENT/CHIEF EXECUTIVE OFFICER'S PERFORMANCE AGAINST CERTAIN ESTABLISHED GOALS, TO MAKE A RECOMMENDATION FOR SALARY ADJUSTMENT. THE BOARD OF DIRCTORS APPROVES THE RECOMMENDATIONS AND THIS PROCESS IS DOCUMENTED IN THE BOARD OF DIRECTORS MEETING MINUTES. THE EXECUTIVE COMMITTEE MET IN JULY 2024 TO REVIEW THE CORNERSTONE LEAGUE COMPENSATION SURVEY GUIDE TO DETERMINE THE INCREASE IN THE CHIEF EXECUTIVE OFFICER'S SALARY. FORM 990, PART VI, SECTION C, LINE 19 SHARED RESOURCES CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND UNAUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN THE SAME TIME AND MANNER AS OTHER DISCLOSURES REQUIRED UNDER INTERNAL REVENUE CODE SECTION 6104. FORM 990, PART IX, LINE 11G PAYROLL PROCESSING SERVICES 31,418. SECURITY EXPENSES 63,272. DATA PROCESSING EXPENSES 453,054. OUTSIDE SERVICES 84,425.