2024-11-10T14:50:55-06:00 2023-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2023-01-01 741539232 SPACE CITY CREDIT UNION SPAC 7132221244 3101 HARRISBURG BOULEVARD HOUSTON TX 77003 CRAIG ROHDEN CEO 7132221244 2024-11-07 1 0 JENIFER L CHASE P01306883 5638884000 2024-11-07 2023 2024-10-15 13:58:12Z CRAIG ROHDEN 3101 HARRISBURG BOULEVARD HOUSTON TX 77003 9453039 0 X WWW.SPACECITYCU.COM X 1965 TX COOPERATIVE THRIFT INSTITUTION THAT PROVIDES BANKING AND LOAN SERVICES TO ITS MEMBERS. 10 10 68 11 103688 0 0 0 7099641 9100997 1164887 325094 26289 26948 8290817 9453039 11750 7500 0 0 2709605 3430038 0 0 0 4029613 6627172 6750968 10064710 1539849 -611671 148133001 142214643 127912659 122890959 20220342 19323684 SPACE CITY CREDIT UNION IS A COOPERATIVE THRIFT INSTITUTION THAT PROVIDES BANKING AND LOAN SERVICES TO ITS MEMBERS. 0 0 SPACE CITY CREDIT UNION OFFERS SHARE ACCOUNTS THAT PAY QUARTERLY DIVIDENDS TO MEMBERS. ACCESS IS OFFERED THROUGH BRANCH LOCATIONS, INTERNET, ATM'S AND TELEPHONE. SPECIAL CHRISTMAS SAVINGS ACCOUNTS ARE OFFERED TO ENCOURAGE MEMBERS TO SAVE AND BUDGET FOR CHRISTMAS EXPENSES. AS OF 12/31/2023, THE CREDIT UNION HAS 12,742 SHARE ACCOUNTS WITH A TOTAL OF $53,384,688.05. THE CREDIT UNION ALSO HAS SHARE CERTIFICATES OF $24,016,793.45, AND IRAS OF $3,919,542.66. SPACE CITY CREDIT UNION OFFERS CHECKING ACCOUNTS THAT GENERALLY PAY MONTHLY DIVIDENDS TO MEMBERS. ACCESS IS OFFERED THROUGH BRANCH LOCATIONS, INTERNET, ATM'S AND TELEPHONE. FREE DEBIT CARDS AND ONLINE BANKING FEATURES ARE PROVIDED. AS OF 12/31/2023, THE CREDIT UNION HAS 6,361 CHECKING ACCOUNTS WITH A TOTAL OF $37,805,166.14. SPACE CITY CREDIT UNION OFFERS CONSUMER LOANS TO MEMBERS FOR AUTOS, RECREATIONAL VEHICLES, MOTORCYCLES, AND REAL ESTATE. CONSUMER LIFE AND DISABILITY INSURANCE IS AVAILABLE ON MANY OF THESE LOAN TYPES. AS OF 12/31/2023, THE CREDIT UNION HAS 7,283 CONSUMER LOANS TOTALING $108,222,214.84 OUTSTANDING. 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 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 5562 0 1 68 1 1 1 0 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 0 1 0 0 0 1 0 1 1 1 1 0 X TIFINI ABSHIRE 7132221244 3101 HARRISBURG BOULEVARD HOUSTON TX 77003 DAVID BACICA DIRECTOR 1.00 X 0 0 0 DARLA BAINES DIRECTOR 1.00 X 0 0 0 MATT HAYSLIP DIRECTOR 1.00 X 0 0 0 MARK HEITKER DIRECTOR 1.00 X 0 0 0 STEPHEN HINES VICE CHAIR 1.00 X X 0 0 0 JUDITH LANGFORD SECRETARY 1.00 X X 0 0 0 BUCK LAY CHAIR 1.00 X X 0 0 0 SAMMYE MOORE DIRECTOR 1.00 X 0 0 0 JOHN PATTON DIRECTOR 1.00 X 0 0 0 ROBERT SANDER TREASURER 1.00 X X 0 0 0 CRAIG ROHDEN PRESIDENT/CHIEF EXECUTIVE OFFICER 40.00 X 245630 0 34931 VON'NESHIA MOORE EVP/CHIEF OPERATIONS OFFICER 40.00 X 318727 0 79212 MICHELLE WILLIAMS VP OF ADMINISTRATION 40.00 X 101079 0 13460 PAULA NEWKIRK VP OF LENDING 40.00 X 113771 0 7411 779207 0 135014 4 0 1 0 FISERV PO BOX 208457 DALLAS TX 753208457 DATA PROCESSOR 1082500 SUMMIT ADMINISTRATORS 110 WEST ROSAMOND ST HOUSTON TX 77076 CREDIT LIFE & DISABILITY PROVIDER 710583 WARRANTY SOLUTIONS MANAGEMENT CORP 110 WEST ROSAMOND ST HOUSTON TX 77076 WARRANTIES 546517 CITY SECURITY SERVICES LLC 2600 N LOOP W STE 300A HOUSTON TX 77092 SECURITY 172079 ROBERT HALF PO BOX 743295 LOS ANGELES CA 900743295 TEMP TO HIRE/CONTRACT STAFF LABOR 117924 6 INTEREST ON MEMBER LOA 522100 6349965 6349965 FEES, INSURANCE & OTHE 522100 2751032 2647344 103688 9100997 325094 325094 26948 0 26948 26948 26948 9453039 8997309 103688 352042 7500 678500 2347831 38520 133926 231261 2478 106206 134841 449794 159207 436843 45206 314211 125810 DIVIDENDS PAID TO MEMBE 2543086 VISA/PULSE/DEBIT CARD E 838573 LOAN SERVICING FEES 667975 PROVISION FOR LOAN LOSS 560044 242898 10064710 X 1241009 1028310 1612 550 3146586 3256717 100368370 107450521 664149 578663 6585716 3062832 3635193 3522884 33136414 20708763 1885560 1747684 4054108 3920551 148133001 142214643 1952392 1313371 125960267 121577588 127912659 122890959 X 0 0 0 0 20220342 19323684 20220342 19323684 148133001 142214643 X -611671 -284987 X 0 0 0 1679278 1679278 2761851 1467020 1294831 315639 232968 82671 1828948 1362844 466104 3522884 CATALYST CORP 6007029 C NCUSIF & ESI CAPITAL DEPOSITS 1232838 C CERTIFICATE OF DEPOSIT 1495853 C SEC INVESTMENTS 11973043 C 20708763 DEPOSITORS CHECKING, SAVINGS, AND INVESTMENTS 121577588 121577588 0 SPACE CITY CHARITIES 3101 HARRISBURG BLVD HOUSTON TX 77003 461199112 501(C)(3) 7500 0 PROGRAM SUPPORT 1 0 PART I, LINE 2: SPACE CITY CREDIT UNION ISSUES FUNDS TO BE USED AT THE RECIPIENT ORGANIZATION'S DISCRETION. X X 0 1 0 VON'NESHIA MOORE EVP/CHIEF OPERATIONS OFFICER 162725 0 27478 0 128524 0 67968 0 11244 0 397939 0 51558 0 CRAIG ROHDEN PRESIDENT/CHIEF EXECUTIVE OFFICER 198154 0 46186 0 1290 0 11604 0 23327 0 280561 0 0 0 PART I, LINE 4B VON'NESHIA MOORE, EVP/CHIEF OPERATIONS OFFICER, PARTICIPATES IN A 457(F), NON-QUALIFIED DEFERRED COMPENSATION PLAN, SPONSORED BY SPACE CITY CREDIT UNION. DURING THE YEAR, SPACE CITY CREDIT UNION MADE $56,979 OF DEFINED BENEFIT ACCRUALS INTO THE PLAN ON BEHALF OF THE INDIVIDUAL PARTICIPANT. THIS DEFINED BENEFIT ACCRUAL AMOUNT IS REPORTED AS DEFERRED COMPENSATION ON FORM 990, PART VII AND SCHEDULE J, PART II. VON'NESHIA MOORE RECEIVED A DISTRIBUTION FROM THE PLAN IN THE AMOUNT OF $128,275. THE DISTRIBUTION AMOUNT IS REPORTED AS OTHER REPORTABLE COMPENSATION ON FORM 990, PART VII AND SCHEDULE J, PART II. CRAIG ROHDEN OFFICER COLLATERAL ASSIGNED SPLIT-DOLLAR LIFE INSURANCE POLICY X 2293782 3256717 0 1 1 3256717 FORM 990, PART VI, SECTION A, LINE 6 SPACE CITY CREDIT UNION HAS MEMBERS AS SPECIFIED BY ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A SPACE CITY CREDIT UNION MEMBERS HAVE THE POWER TO ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 8B SPACE CITY CREDIT UNION DOES NOT HAVE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B INFORMATION IS PROVIDED BY THE ACCOUNTING MANAGER TO THE TAX ACCOUNTANT FOR PREPARATION OF FORM 990. THE COMPLETED FORM 990 IS THEN REVIEWED BY THE PRESIDENT/CHIEF EXECUTIVE OFFICER. A COPY OF THE FORM 990 IS PRESENTED TO THE BOARD OF DIRECTORS AT THE NEXT MEETING, BEFORE IT HAS BEEN FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT/CHIEF EXECUTIVE OFFICER'S COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. THE DETERMINATION OF COMPENSATION IS DOCUMENTED IN EXECUTIVE SESSION MINUTES. COMPENSATION IS DETERMINED BY UTILIZING DATA COLLECTED THROUGH A COMPENSATION SURVEY OF CHIEF EXECUTIVE COMPENSATION AT OTHER CREDIT UNIONS THAT ARE SIMILAR IN SIZE AND COMPLEXITY. THE SAME PROCESS IS USED TO ESTABLISH COMPENSATION FOR KEY EMPLOYEES OF SPACE CITY CREDIT UNION. THIS PROCESS LAST OCCURRED IN JANUARY 2024. FORM 990, PART VI, SECTION C, LINE 19 SPACE CITY CREDIT UNION MAKES ITS GOVERNING DOCUMENTS AND UNAUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN THE SAME TIME AND MANNER AS OTHER DISCLOSURES REQUIRED UNDER INTERNAL REVENUE CODE SECTION 6104. SPACE CITY CREDIT UNION DOES NOT HAVE A CONFLICT OF INTEREST POLICY. FORM 990, PART X, COLUMN (A), LINES 17 & 21: IN 2023, SPACE CITY CREDIT UNION DETERMINED THAT IT WAS MORE APPROPRIATE TO INCLUDE IN COLUMN (B) (END OF YEAR) FOR LINES 17 (ACCOUNTS PAYABLE) CERTAIN ITEMS INCLUDED IN PRIOR YEAR FORMS 990 IN LINES 21 (ESCROW OR CUSTODIAL ACCOUNT LIABILITY). CONFORMING ADJUSTMENTS HAVE BEEN MADE TO THE 2023 BEGINNING OF YEAR AMOUNTS LISTED IN COLUMN (A) OF PART X. FORM 990, PART XI, LINE 9: CURRENT EXPECTED CREDIT LOSS IMPLEMENTATION -284,987.