2024-11-15T16:51:59-06:00 2023-12-31 382492570 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2023-01-01 750821285 RESOURCE ONE CREDIT UNION RESO 2143193100 1200 BELLEVIEW ST DALLAS TX 75215 VERONICA WATKINS CHIEF FINANCIAL OFFICER 2143193128 2024-11-15 1 0 JOHN J MURNANE JR P03021572 3052328272 2024-11-15 2023 2024-10-15 13:58:12Z MARY BETH SPUCK 1200 BELLEVIEW ST DALLAS TX 75215 50911209 0 X WWW.R1CU.ORG X 1986 TX FINANCIAL COOPERATIVE FORMED TO PROMOTE THRIFT THOUGH SAVINGS AND LOANS TO ITS MEMBERS. 8 8 265 8 810124 0 1826265 0 42370082 46947185 1782213 3964024 0 0 45978560 50911209 0 0 0 0 17347597 18591327 0 0 0 25376540 45472913 42724137 64064240 3254423 -13153031 826795072 762285283 771121630 723747762 55673442 38537521 COOPERATIVE FINANCIAL SERVICES PROVIDER. 0 0 VOLUNTARY COOPERATIVE, NON-PROFIT SAVINGS INSTITUTION (CREDIT UNION) INCORPORATED UNDER THE PROVISIONS OF THE TEXAS CREDIT UNION ACT, FOR THE PURPOSE OF ENCOURAGING THRIFT AMONG THE MEMBERS, PROVIDING ITS MEMBERS CREDIT AT THE FAIR REASONABLE RATE OF INTEREST AND AN OPPORTUNITY TO IMPROVE THEIR FINANCIAL WELL-BEING. CREDIT INSURANCE SALES: WARRANTIES, CREDIT LIFE AND GUARANTEED AUTO PROTECTION (GAP) EXEMPT. MEMBER INSURANCE SALES: ACCIDENTAL DEATH & DISMEMBERMENT, (AD&D). OTHER INCOME: FOREIGN ATM FEES, INTERCHANGE FEES. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 13844 0 1 265 1 1 1 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X VERONICA WATKINS 2143193100 1200 BELLEVIEW ST DALLAS TX 75215 KAREN HART BOD CHAIR/SC MEMBER 5.00 X 10101 0 0 GREG BLUNT BOD VICE CHAIR 5.00 X 12000 0 0 CHRIS DEGELIA BOD SECRETARY/TREASURER 5.00 X 7000 0 0 JEAN MANUEL BOD MEMBER/SC CHAIR 5.00 X 9000 0 0 CRAIG GANT BOD MEMBER/SC MEMBER 5.00 X 12000 0 0 JANEY APPIA BOD MEMBER 5.00 X 7750 0 0 KEITH WILSON BOD MEMBER 5.00 X 6500 0 0 CLIFF BROUGHTON BOD MEMBER 5.00 X 6250 0 0 ABDIEL RUIZ BOD MEMBER 5.00 X 1350 0 0 LENORA KING BOD MEMBER 5.00 X 900 0 0 MARY BETH SPUCK PRESIDENT/CEO 40.00 X 508584 0 28546 TRACEY ANNE JACKSON CHIEF FINANCIAL OFFICER 40.00 X 226449 0 28756 BRADY EUGENE POPP CHIEF STRATEGY OFFICER 40.00 X 240557 0 27296 DOUGLAS P BEDNER CHIEF LENDING OFFICER 40.00 X 224294 0 14852 DANIELA B PARKER CHIEF OPERATING OFFICER 40.00 X 191783 0 39922 GEORGE JOHNSON CHIEF PEOPLE OFFICER 40.00 X 166378 0 34416 MICHELLE S DAHL CHIEF MEMBER EXPERIENCE OFFICER 40.00 X 166111 0 23735 LESLIE ANN ATTEBERY DIRECTOR OF MORTGAGE LENDING 40.00 X 156491 0 21101 PAUL ANTHONY MATAMOROS DIRECTOR OF INDIRECT LENDING 40.00 X 148460 0 28958 TESFU HAVTEGHABR BERAKI DIRECTOR OF INFORMATION TECHNOLOGY 40.00 X 143276 0 36569 2245234 0 284151 20 0 1 0 JACK HENRY PO BOX 609 MONETT MO 65708 CORE PROCESSING SYSTEM 968908 ALKAMI TECHNOLOGY 5601 GRANITE PARKWAY STE 120 PLANO TX 75024 MOBILE & ONLINE BANKING 883322 FISERV PO BOX 208457 DALLAS TX 75320 ACCOUNTING SYSTEM 785512 LANVERA 112 WRANGLER DRIVE SUITE 150 COPPELL TX 75019 STATEMENT PROCESSOR 510219 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 DEBIT AND CREDIT CARDS 410317 29 INTEREST ON LOANS 522100 31172471 31172471 FEES, CHARGES, OTHER 522100 14964590 14964590 FINANCE AND INSURANCE 520000 810124 810124 46947185 3964024 3964024 50911209 46137061 810124 3964024 1603890 15192877 626286 100804 1067470 68631 178361 5824105 893999 11756764 2100704 73378 134893 10744995 1414534 PROVISION FOR LOAN LOSS 10351268 MISCELLANEOUS 1157692 LOAN SERVICING 773589 64064240 4990423 4582376 45430201 6971237 1702930 1812719 11018411 11049632 626327953 615396055 5469454 1172025 37913475 19299875 17453221 18613600 95193120 83286840 4090328 4422817 392028 352161 14727003 14625821 826795072 762285283 9724744 8866406 1040745 1507012 40000000 40000000 720356141 673374344 771121630 723747762 X 0 0 0 0 55673442 38537521 55673442 38537521 826795072 762285283 X -13153031 553287 -4536177 X X 0 1 X 1 0 0 1 X 5841942 5841942 16824629 8325569 8499060 333245 203323 129922 14913659 10770983 4142676 18613600 MEMBER DEPOSITS 673374344 673374344 X 50911209 0 50911209 0 50911209 64064240 0 64064240 0 64064240 PART IV, LINE 2B: ON A MONTHLY BASIS, THE CREDIT UNION COLLECTS PAYMENT FROM MEMBERS WITH MORTGAGE LOANS OUTSTANDING. AS STIPULATED BY THE AGREEMENT SIGNED BY BOTH PARTIES, THE MONTHLY PAYMENT FOR EACH MEMBER INCLUDES PRINCIPAL, INTEREST, AND ESCROWS. ESCROWS ARE USED TO PAY TAXES AND INSURANCE ON THE PROPERTY. PART X, LINE 2: 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. X X 0 1 0 MARY BETH SPUCK PRESIDENT/CEO 418042 0 81442 0 9100 0 14169 0 14377 0 537130 0 0 0 BRADY EUGENE POPP CHIEF STRATEGY OFFICER 214498 0 26059 0 0 0 13897 0 13399 0 267853 0 0 0 TRACEY ANNE JACKSON CHIEF FINANCIAL OFFICER 197351 0 29098 0 0 0 11465 0 17291 0 255205 0 0 0 DOUGLAS P BEDNER CHIEF LENDING OFFICER 188240 0 29024 0 7030 0 12987 0 1865 0 239146 0 0 0 DANIELA B PARKER CHIEF OPERATING OFFICER 186040 0 5743 0 0 0 11835 0 28087 0 231705 0 0 0 GEORGE JOHNSON CHIEF PEOPLE OFFICER 155366 0 11012 0 0 0 9831 0 24585 0 200794 0 0 0 MICHELLE S DAHL CHIEF MEMBER EXPERIENCE OFFICER 166111 0 0 0 0 0 9000 0 14735 0 189846 0 0 0 TESFU HAVTEGHABR BERAKI DIRECTOR OF INFORMATION TECHNOLOGY 131492 0 11784 0 0 0 9165 0 27404 0 179845 0 0 0 LESLIE ANN ATTEBERY DIRECTOR OF MORTGAGE LENDING 143419 0 13072 0 0 0 8505 0 12596 0 177592 0 0 0 PAUL ANTHONY MATAMOROS DIRECTOR OF INDIRECT LENDING 137910 0 10550 0 0 0 8590 0 20368 0 177418 0 0 0 PART I, LINE 4B THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE PRESIDENT/CEO THROUGH A LOAN REGIME ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." THE PROMISSORY NOTE SIGNED BY THE PARTICIPATING EXECUTIVE IS SECURED BY THE LIFE INSURANCE POLICIES PURCHASED ON THE PARTICIPANT'S BEHALF. THAT IS, THE EXECUTIVE'S LOAN FUNDS A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANT MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME UP TO THE PREMIUMS PAID INTO THE POLICIES. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S EXECUTIVE LOAN ORIGINATION VALUE PLUS THE STATED INTEREST. ANY REMAINING DEATH BENEFITS AFTER REPAYMENT OF THE LOAN ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS PER THE CONTRACTUAL AGREEMENT. MARY BETH SPUCK PRESIDENT/CEO TO FUND COLLATERAL ASSIGNED SPLIT DOLLAR LIFE INSURANCE POLICY X 2969000 3321937 0 1 1 JIM BRISENDINE FORMER CEO TO FUND COLLATERAL ASSIGNED SPLIT DOLLAR LIFE INSURANCE POLICY X 4300000 5364800 0 1 1 JIM LADNER FORMER CFO TO FUND COLLATERAL ASSIGNED SPLIT DOLLAR LIFE INSURANCE POLICY X 1820925 2362895 0 1 1 11049632 SCHEDULE L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO CERTAIN EXECUTIVES THROUGH A LOAN REGIME ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." THE PROMISSORY NOTE SIGNED BY THE PARTICIPATING EXECUTIVE IS SECURED BY THE LIFE INSURANCE POLICIES PURCHASED ON THE PARTICIPANT'S BEHALF. THAT IS, THE EXECUTIVE'S LOAN FUNDS A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANT MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME UP TO THE PREMIUMS PAID INTO THE POLICIES. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S EXECUTIVE LOAN ORIGINATION VALUE PLUS THE STATED INTEREST. ANY REMAINING DEATH BENEFITS AFTER REPAYMENT OF THE LOAN ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS PER THE CONTRACTUAL AGREEMENT. FORM 990, PART VI, SECTION A, LINE 6 ALL ACCOUNT HOLDERS ARE MEMBER OWNERS OF THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION'S BOARD OF DIRECTORS ARE NOMINATED AND ELECTED BY ITS MEMBERSHIP. ONE EQUAL VOTE PER MEMBER. BOARD MEMBERS MUST BE IN GOOD STANDING, AND ACTIVELY USE THE CREDIT UNION'S PRODUCTS AND SERVICES. ALL BOARD MEMBERS ARE VOLUNTEERS, EXCEPT FOR THE PRESIDENT/CEO. FORM 990, PART VI, SECTION A, LINE 7B MAJOR DECISIONS SUCH AS: MERGERS, BY-LAW CHANGES, BOARD MEMBER ELECTIONS, ETC., REQUIRE A MAJORITY FROM ITS CURRENT MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM IS COMPLETED BY OUR FINANCIAL AUDIT FIRM AND THEN REVIEWED BY THE CFO AND CEO. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, BOARD MEMBERS AND EMPLOYEES COMPLETE AND SIGN A CONFLICT OF INTEREST FORM. FORM 990, PART VI, SECTION B, LINE 15 RESOURCE ONE CREDIT UNION USES BALANCED COMP FOR BOARD EVALUATIONS OF THE CEO. IN ADDITION, BALANCE COMP ESTABLISHES JOB GRADES AND PAY RANGES FOR ALL POSITIONS, LEVERAGING MULTIPLE DATA POINTS TO ENSURE ACCURACY AND FAIRNESS. FORM 990, PART VI, SECTION C, LINE 19 MONTHLY FINANCIAL STATEMENTS AND DISPUTE RESOLUTION INSTRUCTIONS ARE DISPLAYED IN EACH OF THE CREDIT UNION'S BRANCH LOBBIES. GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT FROM CHANGE IN ACCOUNTING PRINCIPLE -4,536,177. FORM 990, PART XII, LINE 2C: THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR.