FIVEPOINT CREDIT UNION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- FIVEPOINT CREDIT UNION (EIN 74-1109889)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-07
- IRS object ID
- 202413129349304616
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-11-07T16:40:20-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 382492570 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DOEREN MAYHEW | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8785 SW 165TH AVENUE SUITE 303 | AddressLine1Txt |
| City | MIAMI | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33193 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 741109889 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FIVEPOINT CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FIVE | BusinessNameControlTxt |
| Phone | 4097268300 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1366 | AddressLine1Txt |
| City | NEDERLAND | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 776271366 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ERIK SHAW | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 4097268200 | PhoneNum |
| Signature | 2024-10-31 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JOHN J MURNANE JR | PreparerPersonNm |
| PTIN | P03021572 | PTIN |
| Phone | 3052328272 | PhoneNum |
| Preparation | 2024-10-31 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ERIK SHAW | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1366 | AddressLine1Txt |
| City | NEDERLAND | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 77627 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $63,647,125 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.FIVEPOINTCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1935 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERSHIP WITH VARIOUS LOAN AND DEPOSIT PRODUCTS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 255 | TotalEmployeeCnt |
| Total Volunteers | 14 | TotalVolunteersCnt |
| Total Gross UBI | $91,240 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $46,755,776 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $54,976,856 | CYProgramServiceRevenueAmt |
| PY Investment Income | $2,662,413 | PYInvestmentIncomeAmt |
| CY Investment Income | $3,770,279 | CYInvestmentIncomeAmt |
| PY Other Revenue | $15,562 | PYOtherRevenueAmt |
| CY Other Revenue | $91,240 | CYOtherRevenueAmt |
| PY Total Revenue | $49,433,751 | PYTotalRevenueAmt |
| CY Total Revenue | $58,838,375 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $238,670 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $370,387 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $19,847,000 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $19,305,635 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $24,402,839 | PYOtherExpensesAmt |
| CY Other Expenses | $36,855,649 | CYOtherExpensesAmt |
| PY Total Expenses | $44,488,509 | PYTotalExpensesAmt |
| CY Total Expenses | $56,531,671 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,945,242 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,306,704 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $874,862,124 | TotalAssetsBOYAmt |
| Total Assets EOY | $940,698,707 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $800,708,884 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $864,661,283 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $74,153,240 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $76,037,424 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO IMPROVE THE QUALITY OF LIFE FOR OUR MEMBERS AND THE COMMUNITY. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | INTEREST INCURRED ON MEMBER DEPOSITS APPROXIMATED $11,998,000 DURING THE YEAR ENDED DECEMBER 31, 2023. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ATM SERVICES PROVIDED TO THE MEMBERSHIP REPRESENTED APPROXIMATELY $1,925,000 OF TOTAL EXPENSES INCURRED DURING THE YEAR ENDED DECEMBER 31, 2023. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | HOME BANKING PROVIDED TO THE MEMBERSHIP REPRESENTED A COST OF APPROXIMATELY $1,394,000 INCURRED DURING THE YEAR ENDED DECEMBER 31, 2023. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 14570 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 255 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | 0 | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HELEN PUCKETT | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 4097268240 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1366 | AddressLine1Txt |
| City | NEDERLAND | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 77627 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (26 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| GLENN JOHNSON | ||||||||
| CHAIRPERSON | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JAMES SAXON | ||||||||
| SECRETARY TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JOE DICKSON | ||||||||
| FIRST VICE CHAIRPERSON | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JOHN COMEAUX | ||||||||
| SECOND VICE CHAIRPERSON | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| LOUIS ANSELMO | ||||||||
| BOARD MEMBER | 0.50 | Yes (X) | $0 | $0 | $0 | |||
| HILTON FERGUSON JR | ||||||||
| BOARD MEMBER | 0.50 | Yes (X) | $0 | $0 | $0 | |||
| KAROL RUSSELL | ||||||||
| BOARD MEMBER | 0.50 | Yes (X) | $0 | $0 | $0 | |||
| JACK THORNTON | ||||||||
| BOARD MEMBER | 0.50 | Yes (X) | $0 | $0 | $0 | |||
| DENNY WINTER | ||||||||
| BOARD MEMBER | 0.50 | Yes (X) | $0 | $0 | $0 | |||
| ERIK SHAW | ||||||||
| CEO/PRESIDENT | 40.00 | $534,478 | $0 | $56,144 | Yes (X) | |||
| KENNETH MILLER | ||||||||
| EXECUTIVE VICE PRESIDENT | 40.00 | $371,389 | $0 | $49,185 | Yes (X) | |||
| JENNIFER WEBB | ||||||||
| CHIEF ADMINISTRATIVE OFFICER/EVP | 40.00 | $314,698 | $0 | $28,938 | Yes (X) | |||
| KRISTEN BELLANGER | ||||||||
| COO/EVP | 40.00 | $311,677 | $0 | $31,203 | Yes (X) | |||
| AMANDA WHITE | ||||||||
| SVP OF HUMAN RESOURCES | 40.00 | $287,449 | $0 | $36,305 | Yes (X) | |||
| MATTHEW BOREL | ||||||||
| FINANCIAL ADVISOR | 40.00 | $215,943 | $0 | $45,222 | Yes (X) | |||
| CHRISTIE J LUMMUS | ||||||||
| VP LENDING | 40.00 | $197,345 | $0 | $23,693 | Yes (X) | |||
| CHASIDY BOHANAN | ||||||||
| VP OPERATIONS | 40.00 | $192,211 | $0 | $29,439 | Yes (X) | |||
| MARLA RUCKER | ||||||||
| VP IT | 40.00 | $190,185 | $0 | $34,711 | Yes (X) | |||
| HELEN PUCKETT | ||||||||
| AVP ACCOUNTING | 40.00 | $173,908 | $0 | $28,675 | Yes (X) | |||
| AIMEE SLOTT | ||||||||
| VP BUSINESS LENDING | 40.00 | $156,757 | $0 | $28,981 | Yes (X) | |||
| KAREN BLUM | ||||||||
| VP MARKETING | 40.00 | $154,762 | $0 | $27,088 | Yes (X) | |||
| CARRIE STRONG | ||||||||
| VP OF HUMAN RESOURCES | 40.00 | $139,709 | $0 | $8,548 | Yes (X) | |||
| TONI R BROWN | ||||||||
| AVP LENDING | 40.00 | $137,197 | $0 | $5,613 | Yes (X) | |||
| JEREMY MARTINKA | ||||||||
| AVP IT | 40.00 | $135,541 | $0 | $36,320 | Yes (X) | |||
| STACI CROAK | ||||||||
| AVP BRANCH OPERATIONS | 40.00 | $133,758 | $0 | $22,160 | Yes (X) | |||
| JARED BYRD | ||||||||
| BUSINESS ANALYTICS | 40.00 | $131,926 | $0 | $13,313 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,778,933 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $505,538 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 29 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| CONSTRUCTION ZONE OF SETX | |||||
| PO BOX 192 | AUBREY | TX | 76227 | CONSTRUCTION | $3,015,669 |
| PSCU INCORPORATED | |||||
| 560 CARILLON PLWY | ST PETERSBURG | FL | 33716 | DEBIT/CREDIT CARD PROCESSOR | $2,189,674 |
| NCR CORPORATION | |||||
| 5601 LINDERO CANYON ROAD SUITE 100 | WESTLAKE VILLAGE | CA | 91362 | ONLINE BANKING SERVICES | $1,526,781 |
| ANN LEE AND ASSOCIATES LTD | |||||
| 1555 DUSTIN CADE DR | NEW BRAUNFELS | TX | 78130 | MARKETING FIRM | $1,292,356 |
| BANK TEC-SOUTH | |||||
| 4150 VIKING DR | BOSSIER CITY | LA | 71111 | ATM/ITM SERVICING | $1,123,114 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 32 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| LOAN RECEIVABLE | 522100 | $38,784,041 | $38,784,041 |
| FEES, CHARGES, OTHER | 522100 | $16,192,815 | $16,192,815 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $54,976,856 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,579,029 | TotalRevenueColumnAmt |
| Exclusion | $3,579,029 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $5,000,000 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $4,808,750 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $191,250 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $191,250 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $191,250 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | FINANCE & INSURANCE | Desc |
| Business | 520000 | BusinessCd |
| Total Revenue Column | $91,240 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $91,240 | UnrelatedBusinessRevenueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $91,240 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $58,838,375 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $55,168,106 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $91,240 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,579,029 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $345,387 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,520,386 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,386,481 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $732,752 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,542,806 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,123,210 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $209,457 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $59,078 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $568,371 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,433,066 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,020,579 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,849,542 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,883,480 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $214,409 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,148 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,549,919 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $120,134 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,458,729 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $519,888 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR LOAN LOSS | $3,242,661 |
| ATM EXPENSE | $1,982,143 |
| LOAN SERVICING | $1,695,910 |
| MAINTENANCE AND REPAIRS | $1,158,559 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,879,576 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $56,531,671 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,977,758 | BOYAmt |
| EOY | $13,913,189 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $43,896,530 | BOYAmt |
| EOY | $26,648,953 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,112,145 | BOYAmt |
| EOY | $2,240,642 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,235,073 | BOYAmt |
| EOY | $16,553,729 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $649,219,708 | BOYAmt |
| EOY | $730,638,525 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,170,424 | BOYAmt |
| EOY | $1,180,287 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $55,205,901 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $25,195,206 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,176,286 | BOYAmt |
| EOY | $30,010,695 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $99,222,029 | BOYAmt |
| EOY | $86,577,114 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $132,148 | BOYAmt |
| EOY | $111,817 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,720,023 | BOYAmt |
| EOY | $32,823,756 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $874,862,124 | BOYAmt |
| EOY | $940,698,707 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,331,018 | BOYAmt |
| EOY | $13,171,050 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $30,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $788,377,866 | BOYAmt |
| EOY | $821,490,233 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $800,708,884 | BOYAmt |
| EOY | $864,661,283 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $74,153,240 | BOYAmt |
| EOY | $76,037,424 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $74,153,240 | BOYAmt |
| EOY | $76,037,424 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $874,862,124 | BOYAmt |
| EOY | $940,698,707 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $2,306,704 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,549,638 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$1,972,158 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,631,458 | OtherCostOrOtherBasisAmt |
| Book Value | $1,631,458 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $33,832,423 | OtherCostOrOtherBasisAmt |
| Depreciation | $10,663,894 | DepreciationAmt |
| Book Value | $23,168,529 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,122,780 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,045,800 | DepreciationAmt |
| Book Value | $1,076,980 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $16,619,240 | OtherCostOrOtherBasisAmt |
| Depreciation | $12,485,512 | DepreciationAmt |
| Book Value | $4,133,728 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $30,010,695 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBERS SHARE ACCOUNTS | Desc |
| Amt | $821,490,233 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $821,490,233 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $58,838,375 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $58,838,375 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $58,838,375 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $56,531,671 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $56,531,671 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $56,531,671 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| AMERICAN CANCER SOCIETY | ||||||||
| 1222 BOSTON AVE | NEDERLAND | TX | 77627 | 741185665 | 501(C)(3) | $98,910 | $0 | CHARITABLE DONATION |
| AMERICAN HEART ASSOCIATION | ||||||||
| SOUTHWEST AFFILIATE PO BOX 4002903 | DES MOINES | IA | 50340 | 135613797 | 501(C)(3) | $8,652 | $0 | CHARITABLE DONATION |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 2 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIPS | GrantTypeTxt |
| Recipient | 18 | RecipientCnt |
| Cash Grant | $25,000 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE SCHOLARSHIPS ARE AWARDED BASED ON A PANEL OF JUDGES REVIEWING SCHOLARSHIP APPLICATIONS AND ESSAYS. ONCE THE CREDIT UNION RECEIVES CONFIRMATION OF THE STUDENT'S ENROLLMENT AND PAYMENT OF TUITION, THE FUNDS ARE DEPOSITED TO THEIR SAVINGS ACCOUNT. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (14 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ERIK SHAW | ||||||||||||||
| CEO/PRESIDENT | $421,661 | $0 | $104,254 | $0 | $8,563 | $0 | $13,614 | $0 | $42,530 | $0 | $590,622 | $0 | $0 | $0 |
| KENNETH MILLER | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $293,542 | $0 | $75,914 | $0 | $1,933 | $0 | $16,364 | $0 | $32,821 | $0 | $420,574 | $0 | $0 | $0 |
| JENNIFER WEBB | ||||||||||||||
| CHIEF ADMINISTRATIVE OFFICER/EVP | $250,334 | $0 | $64,008 | $0 | $356 | $0 | $12,571 | $0 | $16,367 | $0 | $343,636 | $0 | $0 | $0 |
| KRISTEN BELLANGER | ||||||||||||||
| COO/EVP | $247,313 | $0 | $64,008 | $0 | $356 | $0 | $14,115 | $0 | $17,088 | $0 | $342,880 | $0 | $0 | $0 |
| AMANDA WHITE | ||||||||||||||
| SVP OF HUMAN RESOURCES | $232,900 | $0 | $54,328 | $0 | $221 | $0 | $14,724 | $0 | $21,581 | $0 | $323,754 | $0 | $0 | $0 |
| MATTHEW BOREL | ||||||||||||||
| FINANCIAL ADVISOR | $215,276 | $0 | $481 | $0 | $186 | $0 | $13,398 | $0 | $31,824 | $0 | $261,165 | $0 | $0 | $0 |
| MARLA RUCKER | ||||||||||||||
| VP IT | $152,692 | $0 | $36,915 | $0 | $578 | $0 | $9,665 | $0 | $25,046 | $0 | $224,896 | $0 | $0 | $0 |
| CHASIDY BOHANAN | ||||||||||||||
| VP OPERATIONS | $155,672 | $0 | $36,421 | $0 | $118 | $0 | $4,917 | $0 | $24,522 | $0 | $221,650 | $0 | $0 | $0 |
| CHRISTIE J LUMMUS | ||||||||||||||
| VP LENDING | $160,560 | $0 | $36,585 | $0 | $200 | $0 | $9,790 | $0 | $13,903 | $0 | $221,038 | $0 | $0 | $0 |
| HELEN PUCKETT | ||||||||||||||
| AVP ACCOUNTING | $148,322 | $0 | $25,397 | $0 | $189 | $0 | $6,200 | $0 | $22,475 | $0 | $202,583 | $0 | $0 | $0 |
| AIMEE SLOTT | ||||||||||||||
| VP BUSINESS LENDING | $126,045 | $0 | $30,564 | $0 | $148 | $0 | $7,881 | $0 | $21,100 | $0 | $185,738 | $0 | $0 | $0 |
| KAREN BLUM | ||||||||||||||
| VP MARKETING | $125,409 | $0 | $28,729 | $0 | $624 | $0 | $7,833 | $0 | $19,255 | $0 | $181,850 | $0 | $0 | $0 |
| JEREMY MARTINKA | ||||||||||||||
| AVP IT | $108,081 | $0 | $27,332 | $0 | $128 | $0 | $7,229 | $0 | $29,091 | $0 | $171,861 | $0 | $0 | $0 |
| STACI CROAK | ||||||||||||||
| AVP BRANCH OPERATIONS | $108,485 | $0 | $25,100 | $0 | $173 | $0 | $6,746 | $0 | $15,414 | $0 | $155,918 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE CEO, ERIK SHAW, THE EVP, KENNETH MILLER, THE COO/EVP, KRISTEN BELLANGER, AND THE CHIEF ADMINISTRATIVE OFFICER/EVP, JENNIFER WEBB, 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. THE CREDIT UNION CONVERTED THE 457F PLANS FOR KRISTEN BELLANGER AND JENNIFER WEBB TO COLLATERAL ASSIGNED SPLIT DOLLAR PLANS DURING 2023. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (4 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| ERIK SHAW | |||||||
| PRESIDENT/CEO | TO FUND LIFE INSURANCE POLICY | Yes (X) | $4,500,000 | $5,159,863 | 0 | Yes (1) | Yes (1) |
| KENNETH MILLER | |||||||
| EXECUTIVE VP | TO FUND LIFE INSURANCE POLICY | Yes (X) | $3,200,000 | $3,552,191 | 0 | Yes (1) | Yes (1) |
| KRISTEN BELLANGER | |||||||
| COO/EVP | TO FUND LIFE INSURANCE POLICY | Yes (X) | $3,700,000 | $3,817,658 | 0 | Yes (1) | Yes (1) |
| JENNIFER WEBB | |||||||
| CHIEF ADMINISTRATIVE OFFICER/EVP | TO FUND LIFE INSURANCE POLICY | Yes (X) | $3,900,000 | $4,024,017 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $16,553,729 | TotalBalanceDueAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCH L, PART II | FormAndLineReferenceDesc |
| Explanation | 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. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | EVERY CLIENT THAT HAS AN ACCOUNT WITH OUR CREDIT UNION IS ALSO A MEMBER. |
| FORM 990, PART VI, SECTION A, LINE 7A | OUR BOARD OF DIRECTORS ARE ELECTED BY A VOTE OF THE MEMBERSHIP. ANNUALLY, IF THERE IS AN OPEN POSITION, THE NOMINATING COMMITTEE WILL PUT FORTH THE CANDIDATES WHICH OUR MEMBERS CAN VOTE ON DURING 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 | FORM 990 IS PREPARED BY A THIRD-PARTY CPA FIRM. A DRAFT OF THE RETURN IS REVIEWED BY THE CEO, SENIOR VICE PRESIDENT OF HUMAN RESOURCES AND THE VP ACCOUNTING FOR ACCURACY PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | COMPLIANCE TRAINING IS PERFORMED ANNUALLY. EACH EMPLOYEE / OFFICER SIGNS OFF THEY HAVE REVIEWED AND UNDERSTAND THE POLICY. |
| FORM 990, PART VI, SECTION B, LINE 15 | FIVEPOINT UTILIZES A 3RD PARTY TO PROVIDE INDUSTRY STANDARD AND REGIONAL SPECIFIC SALARY RANGES FOR ALL STAFF. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART IX, LINE 24E | MISCELLANEOUS 1,102,152. DEBIT/CREDIT EXPENSES 436,915. TRAINING/DEVELOPMENT/EDUCATION 342,557. LOSS ON REPOS/OTHER -2,048. |
| FORM 990, PART XI, LINE 9: | CUMULATIVE EFFECT FROM CHANGE IN ACCOUNTING PRINCIPLE -1,972,158. |
| FORM 990, PART XII, LINE 2C: | A COMMITTEE EXISTS THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF THE ANNUAL FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|
| FIVEPOINT FINANCIAL SERVICES LLC | |||||||
| PO BOX 1366 | NEDERLAND | TX | 77627 | 464687469 | FINANCIAL SERVICES (INACTIVE) | TX | FIVEPOINT CREDIT UNION |
| FIVEPOINT INSURANCE AGENCY LLC | |||||||
| PO BOX 1366 | NEDERLAND | TX | 77627 | 611739967 | INSURANCE (INACTIVE) | TX | FIVEPOINT FINANCIAL SERVICES LLC |