CREDIT UNIONS IN THE STATE OF NEW MEXICO: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNIONS IN THE STATE OF NEW MEXICO (EIN 85-6010733)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2024-11-15
- IRS object ID
- 202423209349310792
- Schema version
- 2022v5.0
- 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 | 2024-11-15T11:40:57-06:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 390758449 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WIPFLI LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1502 LONDON ROAD SUITE 200 | AddressLine1Txt |
| City | DULUTH | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55812 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 856010733 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | STATE EMPLOYEES CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | STAT | BusinessNameControlTxt |
| Phone | 5059837328 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 813 ST MICHAELS DRIVE | AddressLine1Txt |
| City | SANTA FE | CityNm |
| State Abbreviation | NM | StateAbbreviationCd |
| ZIP | 87505 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ETHAN HENDRICKSON | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 5059837328 | PhoneNum |
| Signature | 2024-11-15 | 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 | MICHAEL J PETERSON CPA | PreparerPersonNm |
| PTIN | P01833529 | PTIN |
| Phone | 2187224705 | PhoneNum |
| Preparation | 2024-11-14 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Change | Yes (X) | NameChangeInd |
| Amended Return | Yes (X) | AmendedReturnInd |
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | STATE EMPLOYEES CREDIT UNION OF NEW MEXICO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ANDY RAMOS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 813 ST MICHAELS DRIVE | AddressLine1Txt |
| City | SANTA FE | CityNm |
| State Abbreviation | NM | StateAbbreviationCd |
| ZIP | 87505 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $48,294,625 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SECUNM.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1958 | FormationYr |
| Legal Domicile State | NM | LegalDomicileStateCd |
| Activity Or Mission | NEW MEXICO STATE-CHARTERED CREDIT UNION PROVIDING FINANCIAL SERVICES TO ITS MEMBERS AS PROVIDED BY THE NEW MEXICO CREDIT UNION ACT | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 237 | TotalEmployeeCnt |
| Total Volunteers | 11 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $1,826,265 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $38,456,742 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $42,926,283 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,411,816 | PYInvestmentIncomeAmt |
| CY Investment Income | $3,471,761 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $59,592 | CYOtherRevenueAmt |
| PY Total Revenue | $39,868,558 | PYTotalRevenueAmt |
| CY Total Revenue | $48,283,901 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $13,562,592 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $14,627,209 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $15,536,296 | PYOtherExpensesAmt |
| CY Other Expenses | $18,522,687 | CYOtherExpensesAmt |
| PY Total Expenses | $29,098,888 | PYTotalExpensesAmt |
| CY Total Expenses | $33,149,896 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $10,769,670 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $15,134,005 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $936,346,148 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,068,857,027 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $846,909,191 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $981,525,122 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $89,436,957 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $87,331,905 | NetAssetsOrFundBalancesEOYAmt |
| Mission | NEW MEXICO STATE-CHARTERED CREDIT UNION PROVIDING FINANCIAL SERVICES TO ITS MEMBERS AS PROVIDED BY THE NEW MEXICO CREDIT UNION ACT. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | NEW MEXICO STATE-CHARTERED CREDIT UNION PROVIDING FINANCIAL SERVICES TO ITS 53,073 MEMBERS AS PROVIDED BY THE NEW MEXICO CREDIT UNION ACT. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | 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 | Yes (1) | 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 | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | 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 | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | 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 | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 33909 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 237 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| 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 | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | 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 | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | 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 | 0 | 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 | LEYLAND GONZALES | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5059837328 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 813 ST MICHAELS DRIVE | AddressLine1Txt |
| City | SANTA FE | CityNm |
| State Abbreviation | NM | StateAbbreviationCd |
| ZIP | 87505 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (21 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| JERRY RAEL | ||||||||
| CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| JOANNE VIGIL-COPPLER | ||||||||
| VICE CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| KENNETH KIRK | ||||||||
| TREASURER | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| PAMELA GONZALES | ||||||||
| SECRETARY | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| LORRIE LUJAN | ||||||||
| SECRETARY (THRU 05/22) | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL DURAN | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| VIRGINIA HENDLEY | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| ROSEMARY WICKARD | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| ANDY RAMOS | ||||||||
| PRESIDENT/CEO | 40.00 | Yes (X) | $544,438 | $0 | $17,374 | |||
| MARK SADOWSKI | ||||||||
| EVP CHIEF FINANCIAL OFF (THRU 01/22) | 40.00 | Yes (X) | $37,573 | $0 | $1,353 | |||
| SCHWAN HARDI | ||||||||
| EVP CHIEF FINANCIAL OFFICER | 40.00 | Yes (X) | $45,979 | $0 | $0 | |||
| LINDSAY JONES | ||||||||
| EVP CHIEF OPERATIONS OFFICER | 40.00 | Yes (X) | $241,826 | $0 | $30,479 | |||
| EDWARD CHRISTIANS | ||||||||
| EVP CHIEF INFORMATION OFFICER | 40.00 | Yes (X) | $253,776 | $0 | $24,241 | |||
| EMILIO ATENCIO | ||||||||
| CHIEF LENDING OFFICER | 40.00 | $187,558 | $0 | $33,562 | Yes (X) | |||
| DEBORAH SPARKS | ||||||||
| CHIEF H.R. OFFICER (THRU 04/22) | 40.00 | $250,673 | $0 | $10,676 | Yes (X) | |||
| WILLIAM THORN | ||||||||
| CHIEF PEOPLE OFFICER | 40.00 | $191,936 | $0 | $26,252 | Yes (X) | |||
| HAROLD DIXON | ||||||||
| DIRECTOR OF PROJECT MANAGEMENT | 40.00 | $446,268 | $0 | $28,571 | Yes (X) | |||
| RYAN KLINKRODT | ||||||||
| VP OF COMMERICALLENDING | 40.00 | $143,545 | $0 | $36,043 | Yes (X) | |||
| KYLE MOORE | ||||||||
| SVP MARKETING & COMMUNITY | 40.00 | $132,904 | $0 | $38,655 | Yes (X) | |||
| MARIA SUAZO | ||||||||
| SVP RETAIL ENGAGEMENT | 40.00 | $128,386 | $0 | $39,446 | Yes (X) | |||
| DARLENE VIGIL | ||||||||
| AVP/REAL ESTATE LOAN MANAGER | 40.00 | $123,146 | $0 | $27,124 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,728,008 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $313,776 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 17 | 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 |
|---|---|---|---|---|---|
| JIM DIXON CONSTRUCTION | |||||
| 280 DEL NORTE COURT | BOSQUE FARMS | NM | 87068 | CONSTRUCTION | $7,251,619 |
| FISERV INC | |||||
| 75 REMITTANCE DR | CHICAGO | IL | 60675 | BANKING PRODUCTS & SERVICES | $902,516 |
| KASASA LTD | |||||
| PO BOX 527 | LUBBOCK | TX | 79408 | BANKING PRODUCTS & SERVICES | $602,506 |
| PHOENIX SECURITY | |||||
| 1355 ACEQUIA BORRADA | SANTA FE | NM | 87507 | SECURITY | $362,681 |
| EL QUETZAL | |||||
| 1013 DON DIEGO AVE | SANTA FE | NM | 87505 | JANITORIAL SERVICES | $248,297 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 13 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $1,826,265 | GovernmentGrantsAmt |
| Total Contributions | $1,826,265 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| INTEREST ON LOANS RECEIVABLE | 522100 | $30,316,301 | $30,316,301 |
| FEES AND SERVICE CHARGES | 522100 | $6,569,377 | $6,569,377 |
| NON INTEREST INCOME | 900099 | $6,040,605 | $6,040,605 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $42,926,283 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,477,208 | TotalRevenueColumnAmt |
| Exclusion | $3,477,208 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $59,592 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $59,592 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $59,592 | TotalRevenueColumnAmt |
| Exclusion | $59,592 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $5,277 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $10,724 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $5,277 | SecuritiesAmt |
| Other | -$10,724 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$5,447 | TotalRevenueColumnAmt |
| Exclusion | -$5,447 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $48,283,901 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $42,926,283 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,531,353 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,897,696 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,377,289 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $343,201 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,209,738 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $799,285 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $69,833 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,000 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,081,070 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $688,807 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $656,778 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $277,661 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $645,587 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $136,654 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $285,107 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,836,451 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $763,428 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $123,049 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| DIVIDENDS ON MEMBER SHA | $7,967,377 |
| PROVISION FOR LOAN LOSS | $1,203,535 |
| LOAN SERVICING EXPENSE | $336,654 |
| STATE EXAM FEES | $136,654 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $254,042 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $33,149,896 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,430,126 | BOYAmt |
| EOY | $7,995,846 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $96,848,195 | BOYAmt |
| EOY | $66,333,044 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,699,595 | BOYAmt |
| EOY | $2,152,846 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,359,016 | BOYAmt |
| EOY | $14,305,162 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $622,205,011 | BOYAmt |
| EOY | $809,075,598 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $900,271 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $37,594,244 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $9,705,111 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,179,021 | BOYAmt |
| EOY | $27,889,133 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,752,293 | BOYAmt |
| EOY | $4,956,570 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $156,887,629 | BOYAmt |
| EOY | $109,191,009 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,985,262 | BOYAmt |
| EOY | $26,057,548 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $936,346,148 | BOYAmt |
| EOY | $1,068,857,027 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,170,230 | BOYAmt |
| EOY | $10,281,013 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $363,504 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $835,738,961 | BOYAmt |
| EOY | $970,880,605 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $846,909,191 | BOYAmt |
| EOY | $981,525,122 | 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 | $89,436,957 | BOYAmt |
| EOY | $87,331,905 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $89,436,957 | BOYAmt |
| EOY | $87,331,905 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $936,346,148 | BOYAmt |
| EOY | $1,068,857,027 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $15,134,005 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$15,523,178 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$1,715,879 | OtherChangesInNetAssetsAmt |
| 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) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,522,382 | OtherCostOrOtherBasisAmt |
| Book Value | $7,522,382 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $14,331,455 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,791,955 | DepreciationAmt |
| Book Value | $8,539,500 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,504,197 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,913,156 | DepreciationAmt |
| Book Value | $591,041 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $11,236,210 | OtherCostOrOtherBasisAmt |
| Book Value | $11,236,210 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $27,889,133 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | AVAILABLE-FOR-SALE DEBT SECURITIES | Desc |
| Book Value | $109,191,009 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $109,191,009 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| SHARES AND DEPOSITS | $890,880,605 |
| LINE OF CREDIT | $80,000,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $970,880,605 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $48,294,625 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $48,294,625 | RevenueSubtotalAmt |
| Other Revenues Not Included | -$10,724 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | -$10,724 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $48,283,901 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $33,160,620 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $10,724 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $10,724 | ExpensesNotReportedAmt |
| Expenses Subtotal | $33,149,896 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $33,149,896 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE CREDIT UNION MAINTAINS ESCROW ACCOUNTS FOR TAXES AND INSURANCE AS PART OF THEIR LOAN PROGRAM. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | LOSS ON SALE OF REPOSSESSED COLLATERAL INCLUDED AS EXPENSE IN AUDITED FS -10,724. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | LOSS ON SALE OF REPOSSESSED COLLATERAL INCLUDED AS EXPENSE IN AUDITED FS 10,724. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 (11 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ANDY RAMOS | ||||||||||||||
| PRESIDENT/CEO | $453,618 | $0 | $75,216 | $0 | $15,604 | $0 | $0 | $0 | $17,374 | $0 | $561,812 | $0 | $0 | $0 |
| HAROLD DIXON | ||||||||||||||
| DIRECTOR OF PROJECT MANAGEMENT | $441,631 | $0 | $0 | $0 | $4,637 | $0 | $10,675 | $0 | $17,896 | $0 | $474,839 | $0 | $0 | $0 |
| EDWARD CHRISTIANS | ||||||||||||||
| EVP CHIEF INFORMATION OFFICER | $241,604 | $0 | $11,631 | $0 | $541 | $0 | $8,077 | $0 | $16,164 | $0 | $278,017 | $0 | $0 | $0 |
| LINDSAY JONES | ||||||||||||||
| EVP CHIEF OPERATIONS OFFICER | $225,733 | $0 | $15,552 | $0 | $541 | $0 | $13,015 | $0 | $17,464 | $0 | $272,305 | $0 | $0 | $0 |
| DEBORAH SPARKS | ||||||||||||||
| CHIEF H.R. OFFICER (THRU 04/22) | $50,673 | $0 | $0 | $0 | $200,000 | $0 | $2,245 | $0 | $8,431 | $0 | $261,349 | $0 | $200,000 | $0 |
| EMILIO ATENCIO | ||||||||||||||
| CHIEF LENDING OFFICER | $176,047 | $0 | $9,228 | $0 | $2,283 | $0 | $31,829 | $0 | $1,733 | $0 | $221,120 | $0 | $0 | $0 |
| WILLIAM THORN | ||||||||||||||
| CHIEF PEOPLE OFFICER | $180,214 | $0 | $11,239 | $0 | $483 | $0 | $4,887 | $0 | $21,365 | $0 | $218,188 | $0 | $0 | $0 |
| RYAN KLINKRODT | ||||||||||||||
| VP OF COMMERICALLENDING | $139,734 | $0 | $2,136 | $0 | $1,675 | $0 | $23,357 | $0 | $12,686 | $0 | $179,588 | $0 | $0 | $0 |
| KYLE MOORE | ||||||||||||||
| SVP MARKETING & COMMUNITY | $120,597 | $0 | $10,963 | $0 | $1,344 | $0 | $16,716 | $0 | $21,939 | $0 | $171,559 | $0 | $0 | $0 |
| MARIA SUAZO | ||||||||||||||
| SVP RETAIL ENGAGEMENT | $116,734 | $0 | $10,395 | $0 | $1,257 | $0 | $16,582 | $0 | $22,864 | $0 | $167,832 | $0 | $0 | $0 |
| DARLENE VIGIL | ||||||||||||||
| AVP/REAL ESTATE LOAN MANAGER | $116,053 | $0 | $4,941 | $0 | $2,152 | $0 | $17,053 | $0 | $10,071 | $0 | $150,270 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 3 | A COMMITTEE OF THE BOARD OF DIRECTORS MEETS ANNUALLY TO REVIEW THE PERFORMANCE OF THE PRESIDENT/CEO AND DETERMINE ANY MARKET OR MERIT INCREASE. THE CEO HAS A WRITTEN CONTRACT WITH THE BOARD OF DIRECTORS WITH A DISCRETE TERM. REGIONAL BANKING AND CREDIT UNION SALARY SURVEYS, AS WELL AS OTHER PEER GROUP STUDIES AND CONSULTANCY, IS USED TO INFORM RECOMMENDATIONS FOR CEO REMUNERATION. |
| PART I, LINE 4B | HAROLD DIXON, MARK SADOWSKI AND ANDY RAMOS PARTICIPATED IN A SPLIT-DOLLAR LIFE INSURANCE PLAN DURING 2022. SEE SCHEDULE L, PART II FOR FURTHER DETAIL. IN ADDITION, THE CREDIT UNION MAINTAINS 457(F) PLANS FOR THE FOLLOWING OFFICERS AND KEY POSITIONS/PERSON AS FOLLOWS. THE AMOUNT OF DEFERRALS DURING THE YEAR TO EACH PARTICIPATING LISTED INDIVIDUAL IS: EMILIO ATENCIO - $26,198 KYLE MOORE - $12,244 MARIA SUAZO - $12,244 RYAN KLINKRODT - $18,283 DARLENE VIGIL - $12,803 THERE WERE NO DISTRIBUTIONS FROM THE PLAN DURING 2022. |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (3 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| HAROLD DIXON | |||||||
| FORMER PRESIDENT/CEO | SPLIT-DOLLAR LIFE INSURANCE AGREEMENT | Yes (X) | $3,600,000 | $4,616,653 | 0 | Yes (1) | Yes (1) |
| MARK SADOWSKI | |||||||
| CHIEF FINANCIAL OFFICER | SPLIT-DOLLAR LIFE INSURANCE AGREEMENT | Yes (X) | $770,000 | $818,162 | 0 | Yes (1) | Yes (1) |
| ANDY RAMOS | |||||||
| PRESIDENT/CEO | SPLIT-DOLLAR LIFE INSURANCE AGREEMENT | Yes (X) | $8,800,000 | $8,870,347 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $14,305,162 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PAGE 1, ITEM B, AMENDED RETURN: | THE 2022 FORM 990 IS BEING AMENDED TO REFLECT CHANGES IN THE BALANCE SHEET, CLASSIFICATION OF OFFICERS AND COMPENSATION FROM THE ORIGINAL FILING. THE FOLLOWING ARE THE LINES/ITEMS FROM THE ORIGINAL RETURN THAT HAVE BEEN UPDATED TO REFLECT THE MOST ACCURATELY UPDATED INFORMATION: PART IV: - LINE 9 PART VII: - VIRGINIA HENDLEY RECLASSIFIED AS DIRECTOR - PAMELA GONZALES RECLASSIFIED AS SECRETARY - REMOVAL OF FOUR INDIVIDUALS (TWO OFFICERS AND TWO HIGHEST COMPENSATED EMPLOYEES) DUE TO CHANGES IN CLASSIFICATION BASED ON THE IRS FORM 990 DEFINITIONS OF OFFICERS AND KEY EMPLOYEES. - DEBORAH SPARKS COMPENSATION WAS UPDATED DUE TO ERRONEOUSLY REPORTING A $200,000 SEVERANCE PAYMENT WHICH WAS ACTUALLY A 457(B) PLAN PAYOUT. PART IX: - LINES 5, 7, 8, AND 9 PART X: - LINES 17 AND 21 SCHEDULE D: - PART IV, LINE 2A AND 2B - PART XIII, PART IV, LINE 2B DESCRIPTION ADDED SCHEDULE J: - PART I, LINE 4A - PART II, DEBORAH SPARKS COMPENSATION RECLASSIFICATION - PART III, REMOVAL OF REFERENCE TO AN ERRONEOUSLY REPORTED SEVERANCE PAYMENT |
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION IS OWNED AND GOVERNED BY ITS MEMBERS. MEMBERS OWN SHARES, ELECT BOARD MEMBERS AND VOTE ON ISSUES SUCH AS MERGERS AND CHARTER CONVERSIONS. BOARD AND MANAGEMENT DECISIONS AFFECT THE FEES MEMBERS PAY, INTEREST RATES THEY ARE CHARGED FOR LOANS, SERVICES THE CREDIT UNION OFFERS AND WHETHER MEMBERS RECEIVE DIVIDENDS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE CREDIT UNION IS OWNED AND GOVERNED BY ITS MEMBERS, WHO OWN SHARES AND ELECT BOARD MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE CREDIT UNION IS GOVERNED BY ITS MEMBERS, WHO VOTE ON ISSUES SUCH AS MERGERS AND CHARTER CONVERSIONS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE INFORMATION REPORTED ON THE 990 WAS ACCUMULATED BY INTERNAL ACCOUNTING STAFF AND PROVIDED TO A PAID PREPARE TO ASSEMBLE. A DRAFT OF THE 990 IS PROVIDED TO MANAGEMENT FOR REVIEW PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C | EMPLOYEES AND VOLUNTEERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY AND DISCLOSURE FORM AT THEIR EMPLOYMENT, AS WELL AS TO COMPLETE A NEW FORM ANNUALLY AND DISCLOSE ANY NEW CONFLICTS OR POSSIBLE CONFLICTS SHOULD THEY EXIST. THIS IS OVERSEEN BY THE HUMAN RESOURCES DEPARTMENT, SUPERVISORY COMMITTEE, AND BOARD OF DIRECTORS AS APPLICABLE (BOARD AND SUPERVISORY FOR THE REVIEW OF SENIOR MANAGEMENT AND CONFLICTS OF INTEREST, AND HUMAN RESOURCES FOR THE REVIEW OF STAFF/ADMINISTRATIVE MANAGEMENT OF CONFLICTS OF INTEREST). THE POLICY APPLIES TO ALL EMPLOYEES, BOARD OF DIRECTORS, AND SUPERVISORY COMMITTEE MEMBERS. ACTUAL CONFLICTS OF INTEREST, AS WELL AS POSSIBLE CONFLICTS OF INTEREST, ARE REVIEWED FROM THE PERSPECTIVE OF PERSONAL AND/OR FINANCIAL INTEREST OR BENEFIT THAT MAY BE OBTAINED BY THE EMPLOYEE IDENTIFYING THE POSSIBLE OR ACTUAL CONFLICT OF INTEREST. IN SUCH CASES, THE EMPLOYEE WITH THE STATED CONFLICT WILL ABSTAIN FROM ANY DISCUSSION OR VOTE INVOLVING THE MATTER OF THE CONFLICT OF INTEREST. THE PRESIDENT/CEO IS RESPONSIBLE FOR THE MANAGEMENT OF ANY CONFLICT OF INTEREST ISSUES THAT MAY ARISE IN THE WORKPLACE. |
| FORM 990, PART VI, SECTION B, LINE 15A | AN ANNUAL REVIEW OF THE PERFORMANCE OF THE PRESIDENT/CEO IS CONDUCTED BY THE BOARD OF DIRECTORS. IT ALSO SETS THE SALARY AND BENEFITS OF THE PRESIDENT/CEO BASED ON A COMBINATION OF INDIVIDUAL AND ORGANIZATIONAL PERFORMANCE, IN ADDITION TO CONDUCTING ANNUAL SALARY AND TOTAL COMPENSATION STUDIES WITH RELEVANT PEER GROUPS (FINANCIAL SERVICES, CREDIT UNIONS). FURTHER, THE CREDIT UNION ESTABLISHES COMPENSATION LEVELS FOR EACH CREDIT UNION POSITION THROUGH AN INTERNAL LEVELING AND GRADING PROCESS TO ENSURE MARKET ALIGNMENT WITH INTERNAL PARITY. COMPENSATION FOR OTHER OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION IS BASED UPON EVALUATION OF A COMBINATION OF THEIR EDUCATION, EXPERIENCE, SKILLS AND COMPETENCIES THEREIN. |
| FORM 990, PART VI, SECTION C, LINE 19 | AVAILABLE FOR REVIEW ON REQUEST AT THE CREDIT UNION'S MAIN OFFICE. CREDIT UNION MEMBERS CAN OBTAIN INFORMATION ABOUT THEIR CREDIT UNION BY ATTENDING THE ANNUAL MEETING FOR THE MEMBERSHIP, SPECIFICALLY REQUESTING INFORMATION FROM THE CREDIT UNION, READING CREDIT UNION PUBLICATIONS AND ACCESSING INFORMATION ON THEIR CREDIT UNION'S WEBSITE. |
| FORM 990, PART XI, LINE 9: | NET CHANGE IN DEFINED BENEFIT OBLIGATION -1,715,879. |