2024-11-15T11:55:40-06:00 2023-12-31 382492570 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2023-01-01 750763606 TEXAS TRUST CREDIT UNION TEXA 9725951305 5850 WEST INTERSTATE 20 ARLINGTON TX 76017 JAMES MINGE PRESIDENT/CEO 9725951305 2024-11-14 1 0 JEREMY SMITH P02536780 3052328272 2024-11-14 2023 2024-10-15 13:58:12Z JAMES MINGE 5850 WEST INTERSTATE 20 ARLINGTON TX 76017 99917940 0 X WWW.TEXASTRUSTCU.ORG X 1936 TX PROVIDING MEMBERS A LIFETIME OF FINANCIAL SERVICES AND MAINTAINING A FINANCIALLY STRONG COOPERATIVE. 8 8 393 13 679732 0 0 0 76200892 87442932 7206606 11710883 86126 85418 83493624 99239233 799844 280049 0 0 24736608 26071507 0 0 0 42826719 65628606 68363171 91980162 15130453 7259071 2049067995 2023353997 1895333188 1860655047 153734807 162698950 WE ARE COMMITTED TO BEING OUR MEMBERS' PARTNER, PROVIDING A LIFETIME OF FINANCIAL SERVICES ADJUSTED TO THEIR NEEDS WHILE MAINTAINING A FINANCIALLY STRONG FULL-SERVICE COOPERATIVE. 0 0 INCOME FROM THE CREDIT UNION MEMBERSHIP AND INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 0 1 0 0 1 17668 0 1 393 1 1 1 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X JAMES MINGE 9725951305 5850 WEST INTERSTATE 20 ARLINGTON TX 76017 CHARLIE BOTTORFF TREASURER 1.00 X 0 0 0 JOE JOHNSON DIRECTOR 1.00 X 0 0 0 PHILLIP MARTINEZ DIRECTOR 1.00 X 0 0 0 BOB MCLELLAN SECRETARY & MEMBERSHIP OFFICER 1.00 X 0 0 0 LONNIE MORGAN DIRECTOR & SECURITY OFFICER 1.00 X 0 0 0 CHARLIE NUTT VICE CHAIRPERSON 1.00 X 0 0 0 KAREN SAULS DIRECTOR 1.00 X 0 0 0 LARRY SKINNER CHAIRPERSON 1.00 X 0 0 0 SEAN CHOATE ADVISORY BOARD 1.00 X 0 0 0 PAMELA STEPHENS ADVISORY BOARD 1.00 X 0 0 0 JERRY OLIVE ADVISORY BOARD 1.00 X 0 0 0 LILLIE WILSON ADVISORY BOARD 1.00 X 0 0 0 KAYE GILBERT ADVISORY BOARD 1.00 X 0 0 0 JAMES MINGE CEO 45.00 X 876576 0 69962 PEGGY ESPARZA CFO 45.00 X 361438 0 60375 WILLIAM KELSEY PRESIDENT 45.00 X 498796 0 42826 DAVID TURNER CIO 45.00 X 369471 0 28063 RONNIE SMITH JR CGO 45.00 X 355416 0 58306 LEANN SANTIAGO SVP RETAIL DELIVERY 45.00 X 274402 0 50476 WHITNEY MCLEOD SVP CONSUMER LENDING 45.00 X 271380 0 34717 FRED TRUSTY SVP MARKETING 45.00 X 253404 0 34701 DANNY TABRAHAM SVP MORTGAGE BUSINESS SERV 45.00 X 254483 0 50065 ROBERT A UNDERWOOD SVP BUSINESS ENTERPRISE AR 45.00 X 208133 0 38196 3723499 0 467687 42 0 1 0 L KEELEY CONSTRUCTION 500 S EWING AVE STE G ST LOUIS MO 63103 CONSTRUCTION 2571815 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 CORE AND OTHER CRITICAL SYSTEMS 1658851 TARRANT CONSTRUCTION 2100 SOUTHEAST PARKWAY ARLINGTON TX 76018 CONSTRUCTION 1122875 CDW DIRECT PO BOX 75723 CHICAGO IL 60675 IT HARDWARE AND SOFTWARE 863379 ACCESS SOFTTEK INC PO BOX 51581 LOS ANGELES CA 900515881 SOFTWARE AND TECHNOLOGY 847435 41 INTEREST ON LOANS 522100 62221487 62221487 FEES, CHARGES, &OTHER 522100 24541713 24541713 FINANCE & INSURANCE 520000 377349 377349 PROFESSIONAL, SCIENTIFIC, AND TEC 540000 302383 302383 87442932 11711579 11711579 85418 0 85418 85418 85418 678011 678707 -696 -696 -696 99239233 98559501 679732 0 X 280049 2721229 19450029 -912890 3175458 1637681 48245 91074 2045955 2445888 1819584 1373125 1492404 167771 480802 32563523 18745 3545201 DEBIT CARD SERVICES 6098290 PROVISION FOR LOAN LOSS 4551861 MAINTENANCE 2346811 MISCELLANEOUS 1991384 4547943 91980162 16401515 13608096 121900155 104043192 18615878 20854168 6814618 21532463 1555542083 1537547231 40754490 44750663 93694937 34218431 56401718 59476506 201279044 187659439 1648708 1315360 29709786 32566879 2049067995 2023353997 22158192 24900542 295000000 290000000 1578174996 1545754505 1895333188 1860655047 X 0 0 0 0 153734807 162698950 153734807 162698950 2049067995 2023353997 X 7259071 3813703 -2108631 X X 0 1 X 1 0 0 0 22396801 22396801 43538843 12465052 31073791 27759293 21753379 6005914 59476506 COLLATERALIZED MORTGAGE OBLIGATIONS & SMALL BUSISNESS ADMINISTRATIONS 50754027 F CORPORATE BONDS 23781810 F FEDERAL AGENCY SECURITIES 6728500 F MORTGAGE-BACKED SECURITIES 89765393 F FHLB 13839400 C CERTIFICATES OF DEPOSIT 2695000 C PSCU INVESTMENT 74640 C TEXFED CDS 669 C CU COOP SYSTEMS STOCK INVESTMENT 20000 C 187659439 SHARES 490528437 SHARE DRAFTS 475755021 MONEY MARKET 71229701 IRA SHARES 18800350 SHARE AND IRA CD 489440996 1545754505 X 99239233 0 99239233 0 99239233 91980162 0 91980162 0 91980162 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL OR STATE INCOME TAXES. THE CUSOS ARE ORGANIZED AS LIMITED LIABILITY COMPANIES AND FILE A CONSOLIDATED RETURN WITH THE CREDIT UNION. THEREFORE, THE CUSOS ARE NOT SUBJECT TO FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION IS A TAX-EXEMPT ENTITY UNDER INTERNAL REVENUE CODE 501(C)(14), BUT MAY BE SUBJECT TO TAXATION ON INCOME UNRELATED TO THE CREDIT UNION'S EXEMPT FUNCTION. STATE CHARTERED CREDIT UNIONS PAY INCOME TAX ON CERTAIN TYPES OF NET TAXABLE INCOME FROM ACTIVITIES THAT TAXING AUTHORITIES CONSIDER UNRELATED TO THE PURPOSE FOR WHICH THE CREDIT UNION WAS GRANTED NONTAXABLE STATUS. THE CREDIT UNION HAS NOT GENERATED TAXABLE INCOME FROM ITS UNRELATED BUSINESS ACTIVITIES DURING 2023 AND 2022. 1 TEXAS TRUST GIVES 5850 WEST INTERSTATE 20 ARLINGTON TX 76017 842932264 501(C)(3) 280049 0 CHARITABLE CONTRIBUTION 1 0 PART I, LINE 2: THE CONTRIBUTION IS CHARTIBLE IN NATURE, NOT A GRANT. X 1 1 X X X X 0 1 0 JAMES MINGE CEO 690892 0 175000 0 10684 0 45916 0 24046 0 946538 0 0 0 WILLIAM KELSEY PRESIDENT 384994 0 100000 0 13802 0 17400 0 25426 0 541622 0 0 0 PEGGY ESPARZA CFO 280676 0 70000 0 10762 0 49400 0 10975 0 421813 0 0 0 RONNIE SMITH JR CGO 274117 0 70000 0 11299 0 46131 0 12175 0 413722 0 0 0 DAVID TURNER CIO 290371 0 70000 0 9100 0 25483 0 2580 0 397534 0 0 0 LEANN SANTIAGO SVP RETAIL DELIVERY 225883 0 40069 0 8450 0 34539 0 15937 0 324878 0 0 0 WHITNEY MCLEOD SVP CONSUMER LENDING 223965 0 38965 0 8450 0 15800 0 18917 0 306097 0 0 0 DANNY TABRAHAM SVP MORTGAGE BUSINESS SERV 212860 0 41623 0 0 0 18444 0 31621 0 304548 0 0 0 FRED TRUSTY SVP MARKETING 215864 0 37540 0 0 0 1880 0 32821 0 288105 0 0 0 ROBERT A UNDERWOOD SVP BUSINESS ENTERPRISE AR 176824 0 31309 0 0 0 10933 0 27263 0 246329 0 0 0 PART I, LINE 4B THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO JAMES MINGE AND WILLIAM KELSEY THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. ESPARZA PEGGY EMPLOYEE TO FUND LIFE INSURANCE X 2100000 2100000 0 1 1 JAMES MINGE EMPLOYEE TO FUND LIFE INSURANCE X 10000000 10000000 0 1 1 JAMES MINGE EMPLOYEE TO FUND LIFE INSURANCE X 3000000 3705407 0 1 1 KATHRYN MCELROY FORMER EMPLOYEE TO FUND LIFE INSURANCE X 360000 360000 0 1 1 PAMELA STEPHENS FORMER EMPLOYEE TO FUND LIFE INSURANCE X 1000000 1042450 0 1 1 RONNIE SMITH EMPLOYEE TO FUND LIFE INSURANCE X 2120000 2650000 0 1 1 VINCENT HEIMANN FORMER EMPLOYEE TO FUND LIFE INSURANCE X 445778 445778 0 1 1 WILLIAM K KELSEY EMPLOYEE TO FUND LIFE INSURANCE X 1000000 1228828 0 1 1 21532463 SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANTS NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A COOPERATIVE OWNED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY IS VOTED ON BY THE ORGANIZATION'S MEMBERS AND ELECTED OR REAFFIRMED AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING, THE ORGANIZATION'S FORM 990, IT IS REVIEWED BY THE SENIOR VP OF RISK MANAGEMENT, VP OF ACCOUNTING AND MEMBERS OF EXECUTIVE MANAGEMENT, INCLUDING THE CEO. FORM 990, PART VI, SECTION B, LINE 12C DURING NEW EMPLOYEE ORIENTATION, EACH EMPLOYEE IS SHOWN WHERE TO ACCESS POLICIES. THE PROFESSIONAL CONDUCT POLICY, WHICH INCLUDES THE CONFLICTS OF INTEREST POLICY, IS READ IN FULL BY THE EMPLOYEE, ALONG WITH SEVERAL OTHER POLICIES WHICH ARE REVIEWED AND DISCUSSED WITH THE EMPLOYEE(S). EACH EMPLOYEE SIGNS A STATEMENT INDICATING THEY HAVE READ THE POLICY MANUAL, WHICH INCLUDES THE CONFLICTS OF INTEREST POLICY. THIS SIGNED STATEMENT IS MAINTAINED IN THE EMPLOYEE'S PERSONAL FILE IN HUMAN RESOURCES. FORM 990, PART VI, SECTION B, LINE 15 THE HR DEPARTMENT USES A COMPENSATION SYSTEM THAT REVIEWS MARKET ANALYSIS FOR JOB ROLES AND THEIR PAY GRADES. THE SYSTEM UPDATES THE PAY GRADES ANNUALLY TO COINCIDE WITH ANY MARKET CHANGES. THE HR DEPARTMENT REVIEWS THE MARKET PAY ADJUSTMENTS PROVIDED BY THE SYSTEM ANNUALLY. THE CEO AND OTHER SENIOR LEADERS REVIEW AND SIGN OFF ON APPRAISALS AND CORRESPONDING COMPENSATION ADJUSTMENTS. THE BOARD REVIEWS THE CEO'S PERFORMANCE ANNUALLY AND THE CHAIRMAN OF THE BOARD COMMUNICATES THE RESULTS AND ANY COMPENSATION ADJUSTMENT TO THE CEO AND THE LEADER OF HR. FORM 990, PART VI, SECTION C, LINE 19 MEMBERS ARE INFORMED VIA THE ORGANIZATION'S WEBSITE THAT THE DOCUMENTS ARE MAINTAINED AND AVAILABLE TO THE PUBLIC IN THE EXECUTIVE MANAGEMENT OFFICES. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL AND OUTSIDE SERVICES 2,045,955. FORM 990, PART IX, LINE 24E UTILITIES 1,470,912. LOAN SERVICING 1,184,624. DEBIT CARD FRAUD 1,167,719. BANK SERVICE CHARGES 510,587. ASSOCIATION DUES/SUPERVISORY FEES 209,535. CASH OVER/SHORT 4,566. FORM 990, PART XI, LINE 9: NET ACTUARIAL GAIN/(LOSS) ON DEFINED BENEFIT PENSION PLAN 2,436,550. CUMULATIVE EFFECT FROM CHANGE IN ACCOUNTING PRINCIPLE -4,545,181. FORM 990, PART XII, LINE 2C WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. HERITAGE F&I SERVICES LLC PO BOX 2260 MANSFIELD TX 750530630 200311717 INSURANCE AND DATA PROGRAMMING SALES TX 1598350 13387105 TEXAS TRUST CREDIT UNION TEXAS TRUST GIVES 5850 WEST INTERSTATE 20 ARLINGTON TX 76017 842932264 CHARITABLE FOUNDATION TX 501(C)(3) LINE 7 TEXAS TRUST CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 TEXAS TRUST GIVES B 280049 ACTUAL CONTRIBUTION TEXAS TRUST GIVES O 124825 TEXAS TRUST CREDIT UNION TEXAS TRUST GIVES L 12301 CALCULATED ESTIMATE