2024-11-14T12:44:22-06:00 2023-12-31 232108173 RKL LLP 1330 BROADCASTING ROAD WYOMISSING PA 196106008 990 2023-01-01 231343877 LANCASTER RED ROSE CREDIT UNION LANC 7172956685 16 E MAIN STREET PO BOX 629 LEOLA PA 17540 KARA E VINCENT CEO/CFO 7172956685 2024-11-13 1 0 RUTHANN J WOLL CPA P00647342 6103761595 2024-11-13 2023 2024-10-15 13:58:12Z KARA E VINCENT 16 E MAIN STREET PO BOX 629 LEOLA PA 17540 2661218 0 X WWW.LRRCU.ORG X 1948 PA ORGANIZED AND OPERATED TO PROMOTE THRIFT AMONG ITS MEMBERS AND A SOURCE OF LOW COST CREDIT 4 4 10 5 3297 0 0 0 1063778 1176008 652042 1485210 0 0 1715820 2661218 0 0 0 0 522552 450389 0 0 0 1362236 1119595 1884788 1569984 -168968 1091234 59764850 55116274 54699291 49734763 5065559 5381511 THE CREDIT UNION IS ORGANIZED AND OPERATED TO PROMOTE THRIFT AMONG ITS MEMBERS AND TO CREATE A SOURCE OF LOW COST CREDIT. 0 0 PROVIDE LOANS TO MORE THAN 5,099 MEMBERS. PROVIDE FINANCIAL STATEMENTS TO MORE THAN 5,099 MEMBERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 537 0 1 10 1 1 1 0 0 0 0 0 0 0 X 4 4 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 0 0 X KARA E VINCENT 7172956685 16 E MAIN STREET PO BOX 629 LEOLA PA 17540 C MICHAEL WETZEL CHAIRMAN 1.00 X 0 0 0 JAMES T O'BRIEN VICE-CHAIRMAN 1.00 X 0 0 0 ERNEST DOERSCHUK III SECRETARY & TRESURER 1.00 X 0 0 0 LOIS M MURSE DIRECTOR 1.00 X 0 0 0 KARA E VINCENT CEO 45.00 X 104810 0 26535 104810 0 26535 1 0 0 0 FISERV 255 FISERV DRIVE BROOKFIELD WI 53045 ATM/DEBIT/CREDIT CARD SERVICES 262895 BRADFORD-SCOTT 9465 COUNSELORS ROW INDIANAPOLIS IN 46240 DATA PROCESSING 127592 OMEGA SYSTEMS 1121 SNYDER ROAD READING PA 19609 IT NETWORK SUPPORT 123381 3 INTEREST INCOME - MEMBER LOAN 522291 741567 741567 OTHER OPERATING INCOME 522210 233733 233733 FEE INCOME 523000 197411 197411 NON-MEMBER ATM INCOME 522210 3297 3297 1176008 1485210 1485210 2661218 1172711 3297 1485210 133101 266827 3037 17045 30379 651 30540 11733 225298 285783 18242 8 177 230851 63533 43185 LENDING EXPENSE 156326 MISCELLANEOUS 61777 STATE EXAMINATION FEE 12146 DUES 9736 -30391 1569984 445141 417022 25267021 17080705 63936 169134 11142005 14058549 103944 82767 1618966 253648 1427525 1365318 1507162 1200316 19131622 20145622 676494 596841 59764850 55116274 185245 284460 54514046 49450303 54699291 49734763 X 0 0 0 0 5065559 5381511 5065559 5381511 59764850 55116274 X 1091234 25442 -800724 X 0 0 0 191734 191734 1099380 125621 973759 327852 128027 199825 1365318 CERTIFICATES OF DEPOSIT 19842000 C CORPORATE CU PAID IN CAPITAL 303622 C 20145622 MEMBER SHARE AND SAVINGS ACCTS 40922358 MEMBER CERTIFICATES OF DEPOSIT 8527945 49450303 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS A COOPERATIVE OWNED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A EACH OF THE MEMBERS OF THE CREDIT UNION HAS THE RIGHT TO CAST ONE VOTE IN THE ELECTION OF DIRECTORS TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE CREDIT UNION'S VOTING MEMBERS HAVE VOTING INTEREST IN THE ELECTION OF BOARD MEMBERS AND THE APPROVAL OF CONVERSION OF THE CREDIT UNION TO A DIFFERENT CHARTER. FORM 990, PART VI, SECTION B, LINE 11B THE CREDIT UNION'S MANAGEMENT TEAM REVIEWS THE FORM 990 PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C ANY CREDIT UNION EMPLOYEE, DIRECTOR, OFFICER, OR SPOUSE WHO IS ASSOCIATED WITH, OR HOLDS OR HAS A FINANCIAL INTEREST IN ANOTHER FINANCIAL INSTITUTION, TRADE ASSOCIATION OR RELATED BUSINESS SHALL FILE AN ANNUAL DISCLOSURE STATEMENT WITH THE BOARD CHAIRMAN WITHIN 30 DAYS OF JANUARY 1, THE START OF EMPLOYMENT, OR TAKING OFFICE. ANY APPARENT CONFLICT WILL BE RESOLVED BY THE BOARD AND THE INDIVIDUAL. WHEN MATTERS PERTAINING TO THE SPECIFIC PERSONAL INTEREST OF A BOARD MEMBER ARE DISCUSSED, THE AFFECTED BOARD MEMBER OR MEMBER SHALL NOT ENGAGE IN THE DISCUSSION NOR SHALL HE/SHE PARTICIPATE IN THE VOTE, AND THE MINUTES SHALL SO STATE. IF MORE THAN ONE BOARD MEMBER IS INVOLVED IN MATTERS INVOLVING A CONFLICT OF INTEREST AND A VOTE IS CALLED, THE NUMBER VOTING MUST EXCEED THE QUORUM REQUIREMENTS FOR THE MEETING OR UNANIMOUS ACTION IS REQUIRED OF THE VOTING BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS SETS THE SALARY FOR THE CEO. A SALARY SURVEY IS USED FROM CUNA. AN ANNUAL REVIEW IS COMPLETED AND RAISES ARE GIVEN ON A MERIT/GOAL ACCOMPLISHMENT BASIS. THE BOARD SETS THE SALARY FOR SENIOR OFFICERS OTHER THAN THE CEO. A SALARY SURVEY FROM CUNA IS USED. AN ANNUAL REVIEW IS COMPLETED AND RAISES ARE GIVEN ON A MERIT/GOAL ACCOMPLISHMENT BASIS. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION'S LOBBY AND CALL REPORTS CONTAINING FINANCIAL INFORMATION ARE POSTED ON NCUA.GOV. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT ADJUSTMENT -800,801. PERPETUAL MEMBER FEES PAID IN 77.