2023-05-04T16:01:31-05:00 2022-12-31 910189318 MOSS ADAMS LLP 601 W RIVERSIDE AVENUE STE 1800 SPOKANE WA 99201 990 2022-01-01 626039479 EASTMAN CREDIT UNION EAST 4232298200 PO BOX 1989 KINGSPORT TN 37662 KELLY PRICE PRESIDENT & CEO 4232298200 2023-05-02 1 KELLY PRICE 999009999 0 EMINA O CRESSWELL CPA P01217304 5097472600 2023-04-25 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KELLY PRICE PO BOX 1989 KINGSPORT TN 37662 343727241 0 X WWW.ECU.ORG X 1934 TN OPERATED DURING 2022 AS A STATE CHARTERED CREDIT UNION WHOSE PURPOSE IS (CONTINUED ON SCHEDULE O) TO BE THE PREFERRED FINANCIAL INSTITUTION IN THE COMMUNITIES WE SERVE BY PROVIDING FINANCIAL PRODUCTS AND SERVICES WHICH ADD VALUE TO MEMBERS, GUIDED BY CREDIT UNION CO-OPERATIVE VALUES AND SERVICE EXCELLENCE EXPECTATIONS. 10 9 1127 9 790918 0 0 0 289341485 321487147 1703158 20809898 190145 172024 291234788 342469069 2655888 924038 0 0 69918430 79919005 0 0 0 118424321 126731937 190998639 207574980 100236149 134894089 7123603375 7481805455 6292378428 6517628561 831224947 964176894 X OPERATED DURING 2022 AS A STATE CHARTERED CREDIT UNION WHOSE PURPOSE IS TO BE THE PREFERRED FINANCIAL INSTITUTION IN THE COMMUNITIES WE SERVE BY PROVIDING FINANCIAL PRODUCTS AND SERVICES WHICH ADD VALUE TO MEMBERS, GUIDED BY CREDIT UNION (CONTINUED ON SCHEDULE O) CO-OPERATIVE VALUES AND SERVICE EXCELLENCE EXPECTATIONS. 0 0 OPERATED DURING 2022 AS A STATE CHARTERED MUTUALLY OWNED CREDIT UNION THAT PROMOTED THRIFT BY MAINTAINING ACCOUNTS AND ISSUING SHARES RESULTING IN SUPERIOR VALUE. SERVED 304,455 MEMBERS WITH A VARIETY OF DEPOSIT PRODUCTS TOTALING $6,430,672,055. OPERATED DURING 2022 AS A STATE CHARTERED MUTUALLY OWNED CREDIT UNION THAT MADE LOANS TO ITS MEMBERS AT REASONABLE RATES OF INTEREST. MAINTAINED A LOAN PORTFOLIO COMPOSED OF CONSUMER, MORTGAGE, HOME EQUITY, VISA AND MEMBER BUSINESS LOANS THAT TOTALED $6,302,508,646. INVESTED ANY SURPLUS NOT REQUIRED FOR LOANS TO EXERCISE THOSE FUNCTIONS DESCRIBED IN THE LAW OF THE STATE OF TENNESSEE AUTHORIZING THE ORGANIZATION OF CREDIT UNIONS THEREBY FURNISHING OTHER COOPERATIVE FINANCIAL SERVICES TO MEMBERS. 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 468411 0 1 1127 1 1 1 0 0 0 0 0 1 0 X 10 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X SCOTT DAVIS 4235787587 2021 MEADOWVIEW LANE KINGSPORT TN 37660 KELLY PRICE PRESIDENT, CEO 40.00 X X 1003483 0 -248151 E WAYNE KIRK CHAIRMAN OF THE BOARD 5.00 X X 0 0 0 NORRIS SNEED VICE CHAIRMAN OF THE BOARD 5.00 X X 0 0 0 JENNIFER STEWART SECRETARY/TREASURER 2.00 X X 0 0 0 BRIAN K MILLER DIRECTOR 2.00 X 0 0 0 GARY BASS DIRECTOR 2.00 X 0 0 0 J ANDREW HATFIELD JR DIRECTOR 1.00 X 0 0 0 JEFF ANDERSON DIRECTOR 2.00 X 0 0 0 JENNIFER WOLFE DIRECTOR 2.00 X 0 0 0 KYLE MACIONE DIRECTOR 2.00 X 0 0 0 STEVE CRAWFORD THRU 322 DIRECTOR 2.00 X 0 0 0 MATT WIMBERLEY VP, CHIEF LEGAL OFFICER 40.00 X 306425 0 53211 JEREMIAH LOUNDS VP, CHIEF OPERATING OFFICER 40.00 X 304248 0 53211 RUSSELL AYSCUE VP, CHIEF INFORMATION OFFICER 40.00 X 287474 0 48806 MARK MILLWOOD VP, CHIEF HUMAN RESOURCE OFFICER 40.00 X 282001 0 49346 DARRELL DINSMORE SVP, CHIEF ADMINISTRATIVE OFFICER 40.00 X 414109 0 -96420 TONJA FISH VP, CHIEF FINANCIAL OFFICER 40.00 X 423646 0 -107767 DOLLY LINKOUS VP, CHIEF LENDING OFFICER 40.00 X 336924 0 -74478 KEVIN HILL VP CHIEF BRAND OFFICER 40.00 X 163451 0 40504 DEBRA BRIDWELL THRU 322 SVP, CHIEF MARKETING OFFICER 40.00 X 172445 0 12311 THOMAS KENNEDY VP, BUSINESS SERVICES 40.00 X 273434 0 56504 ROBIN WILKERSON ENTERPRISE PROJECT MANAGER 40.00 X 227333 0 45837 CHUCK PERRY VICE PRESIDENT, BRANCH OPERATIONS 40.00 X 198468 0 31160 JILL ALLEY REGIONAL DIRECTOR 40.00 X 207265 0 -34362 CATHY BYERS REGIONAL DIRECTOR 40.00 X 200558 0 -36409 OLAN JONES FORMER PRESIDENT/CEO 0.00 X 104931 0 0 4906195 0 -206697 94 1 1 0 IDSCOM - INTELLIGENT DOCUMENT SOLUTIONS 747 E WHITCOMB AVENUE MADISON HEIGHTS MI 48071 STATEMENT PROCESSING/MAILING SERVICES 3381450 NCR CORPORATION 3095 SATELITE BOULEVARD BUILDING 80 DULUTH GA 30096 ONLINE BANKING/BILLPAY SERVICES 2548444 FISERV SOLUTIONS INC PO BOX 934057 ATLANTA GA 31193 SOFTWARE SOLUTIONS SERVICES 2361188 WAYPOINT SOLUTIONS 118 VINTAGE PARK BOULEVARD W414 HOUSTON TX 77070 IT HARDWARE & EQUIPMENT/SERVER MAINT 1720185 DIEBOLD NIXDORF INC PO BOX 643543 PITTSBURGH PA 15264 ATM/BRANCH MAINTENANCE SERVICES 1558016 97 LOAN INTEREST INCOME 522100 253343508 253343508 FEES AND CHARGES 522100 65488171 64697253 790918 OTHER INCOME 522100 2655468 2655468 321487147 20562384 20562384 172024 0 172024 172024 172024 400000 1105686 285406 972766 114594 132920 247514 247514 342469069 320696229 790918 20981922 924038 3424782 55697040 5824279 10352485 4620419 61597 157616 779314 3641122 10733536 11044787 5458679 252535 625868 53002068 7715071 393918 DEPOSIT & LENDING SVCS 22165826 PROVISION FOR LOAN LOSS 10700000 207574980 44232301 53477148 1372143929 867917238 5515171591 6302508646 8918278 9980760 162249288 68617487 91820746 93631801 24490502 77636982 66826028 76652880 7123603375 7481805455 71519417 86956412 8547202 8637086 6212311809 6422035063 6292378428 6517628561 X 0 0 0 0 831224947 964176894 831224947 964176894 7123603375 7481805455 X 134894089 -1492674 -449468 X 0 1 X 1 0 10787 0 0 10787 10787 1 TENNESSEE CREDIT UNION LEAGUE PAC PO BOX 21550 CHATTANOOGA TN 37424 462728395 750 0 CUNA NATIONAL ADVOCACY FUND 99 M STREET SE NO 300 WASHINGTON DC 20003 237065623 10037 0 PART I-A, LINE 1: EASTMAN CREDIT UNION CONTRIBUTED $750 TO THE TENNESSEE CREDIT UNION LEAGUE PAC. EASTMAN CREDIT UNION CONTRIBUTED $10,037 TO THE CUNA NATIONAL ADVOCACY FUND. 0 1 X 25124050 25124050 92839304 32786973 60052331 2143409 1836710 306699 42137455 33993804 8143651 5070 5070 93631801 STATE CHARTERED CREDIT UNION DEPOSITS 6422035063 6422035063 X PART IV, LINE 2B: ECU MAINTAINS ESCROW ACCOUNTS ON THE LOANS IN THE MORTGAGE PORTFOLIO FOR PAYMENT OF PROPERTY TAXES AND HOMEOWNER'S INSURANCE. THE ACCOUNTS ARE TREATED AS OTHER DEPOSIT ACCOUNTS AND EARN INTEREST AT THE REGULAR SHARE ACCOUNT RATE AS LONG AS THE ESCROW BALANCE IS POSITIVE. AMOUNTS ARE DEPOSITED MONTHLY AND PAYMENTS ARE MADE AS NECESSARY DURING THE YEAR. ESCROWS ARE "TRUED" ONCE A YEAR TO PREVENT EXCESS OR CORRECT SHORT-FALLS. PART X, LINE 2: THE CREDIT UNION IS EXEMPT BY STATUTE FROM FEDERAL AND STATE INCOME TAXES ON INCOME RELATED TO ITS EXEMPT FUNCTION. FEDERAL INCOME TAX IS ASSESSED ON NET UNRELATED BUSINESS INCOME AS DEFINED BY THE INTERNAL REVENUE CODE. THE CREDIT UNION FILES AN EXEMPT ORGANIZATION AND UNRELATED BUSINESS INCOME TAX RETURN WITH THE FEDERAL JURISDICTION. ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES DEEMED TO BE UNRELATED TO THE CREDIT UNION'S NONTAXABLE STATUS IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S CONSOLIDATED FINANCIAL POSITION OR RESULTS OF OPERATIONS. FASB ASC 740-10, INCOME TAXES, REQUIRES RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS USING A "MORE-LIKELY-THAN-NOT" APPROACH. AS OF DECEMBER 31, 2022 AND 2021, THE CREDIT UNION DID NOT BELIEVE IT HAD ANY UNCERTAIN TAX POSITIONS THAT WOULD RISE TO THE LEVEL OF HAVING A MATERIAL EFFECT ON ITS CONSOLIDATED FINANCIAL STATEMENTS. THE CREDIT UNION RECORDS INTEREST AND PENALTIES RELATED TO TAX MATTERS IN TAX EXPENSES. 1 ISAIAH 117 HOUSE PO BOX 842 ELIZABETHTON TN 37643 820631497 501(C)(3) 300000 0 PROJECT ASSISTANCE - TRAINING CENTER BALLAD HEALTH FOUNDATION 1019 W OAKLAND AVE SUITE 2 JOHNSON CITY TN 37604 581594191 501(C)(3) 35714 0 CONTRIBUTION - BLOODMOBILE BARTER THEATRE PO BOX 867 ABINGDON VA 24212 546000120 501(C)(3) 30000 0 ANNUAL SPONSORSHIP KINGSPORT CHAMBER OF COMMERCE FOUNDATION 400 CLINCHFIELD ST SUITE 100 KINGSPORT TN 37660 581453565 501(C)(3) 26550 0 EVENT SPONSORSHIPS AND SCHOLARSHIP COALITION FOR KIDS INC 2423 SUSANNAH ST JOHNSON CITY TN 37601 621765487 501(C)(3) 25000 0 GENERAL CONTRIBUTION LONGVIEW CHAMBER OF COMMERCE 410 N CENTER ST LONGVIEW TX 75601 750400490 501(C)(6) 25000 0 EVENT SPONSORSHIP AND GENERAL ASSISTANCE KINGSPORT CHAMBER OF COMMERCE 400 CLINCHFIELD ST SUITE 100 KINGSPORT TN 37660 620446834 501(C)(6) 24250 0 EVENT SPONSORSHIPS GREATER KINGSPORT FAMILY YMCA 1840 MEADOWVIEW PKWY KINGSPORT TN 37660 581564232 501(C)(3) 21043 0 EXPANSION CHALLENGE-CAMPAIGN PLEDGE AND ANNUAL BENEFIT PARTNER UNITED WAY OF GREATER KINGSPORT 301 LOUIS ST SUITE 201 KINGSPORT TN 37660 620481461 501(C)(3) 20800 0 CORPORATE CONTRIBUTION UNITED WAY OF SOUTHWEST VIRGINIA PO BOX 644 ABINGDON VA 24212 540718860 501(C)(3) 20000 0 GENERAL CONTRIBUTION PROVIDENCE ACADEMY 2788 CARROLL CREEK RD JOHNSON CITY TN 37615 621564142 501(C)(3) 15500 0 CAPITAL CAMPAIGN PROVIDENCE MEDICAL CLINIC 441 CLAY ST KINGSPORT TN 37660 264547646 501(C)(3) 15000 0 GENERAL CONTRIBUTION SALVATION ARMY OF GREATER KINGSPORT 505 DALE ST KINGSPORT TN 37660 580660607 501(C)(3) 15000 0 RED KETTLE MATCH UNITED WAY OF EAST TN HIGHLANDS 1907 N ROAN ST SUITE 409 JOHNSON CITY TN 37601 626001105 501(C)(3) 15000 0 GENERAL CONTRIBUTION MARTIN HOUSE CHILDREN'S ADVOCACY CENTER 606 W GARFIELD DR SUITE D LONGVIEW TX 75602 264773954 501(C)(3) 12000 0 LEADERSHIP LONGVIEW CLASS PROJECT SPONSOR AND EVENT SPONSOR FRONTIER HEALTH FOUNDATION PO BOX 9054 GRAY TN 37615 461432508 501(C)(3) 10000 0 EVENT SPONSORSHIP SYMPHONY OF THE MOUNTAINS PO BOX 13 KINGSPORT TN 37660 620534228 501(C)(3) 10000 0 SEASON SPONSOR GREAT TEXAS BALLOON RACE PO BOX 3988 LONGVIEW TX 75606 752378187 501(C)(3) 10000 0 EVENT SPONSORSHIP BIRTHPLACE OF COUNTRY MUSIC PO BOX 1927 BRISTOL VA 24203 621580405 501(C)(3) 10000 0 EVENT SPONSORSHIP KEYSTONE DENTAL 603 BERT ST BOX 12 JOHNSON CITY TN 37601 621762300 501(C)(3) 9000 0 GENERAL CONTRIBUTION YMCA OF BRISTOL 400 MARTIN LUTHER KING JR BLVD BRISTOL TN 37620 620521204 501(C)(3) 8333 0 CAPITAL CAMPAIGN HEALING HANDS HEALTH CENTER 245 MIDWAY MEDICAL PARK BRISTOL TN 37620 621677000 501(C)(3) 7543 0 GENERAL CONTRIBUTION AND EVENT SPONSORSHIP COVENANT COUNSELING CENTER PO BOX 1323 KINGSPORT TN 37662 471983943 501(C)(3) 7500 0 PROGRAM SPONSORSHIP UNITED WAY OF BRISTOL TNVA PO BOX 696 BRISTOL TN 37621 620476656 501(C)(3) 7000 0 GENERAL CONTRIBUTION UNITED WAY OF HAWKINS COUNTY 405 S ARMSTRONG RD SUITE 8 ROGERSVILLE TN 37857 620731420 501(C)(3) 7000 0 GENERAL CONTRIBUTION BOYS & GIRLS CLUB OF JOHNSON CITYWASHINGTON COUNTY PO BOX 5219 JOHNSON CITY TN 37602 620810733 501(C)(3) 6543 0 GENERAL CONTRIBUTION AND EVENT SPONSORSHIP HOPE (HELP OUR POTENTIAL EVOLVE) INC - TRI-CITIES PO BOX 7632 KINGSPORT TN 37664 461500067 501(C)(3) 6500 0 ASSIST WITH ORGANIZATION'S RENT (1 YEAR) CASA OF NORTHEAST TENNESSEE PO BOX 1021 JOHNSON CITY TN 37605 450515257 501(C)(3) 5043 0 GENERAL CONTRIBUTION AND EVENT SPONSORSHIP 26 2 PART I, LINE 2: GRANTS WILL BE RESEARCHED BY THE ECU STAFF, APPROVED BY THE CEO/PRESIDENT AND REPORTED TO THE BOARD OF DIRECTORS ANNUALLY. ECU MAINTAINS RECORDS SUBSTANTIATING AMOUNTS PAID TO QUALIFYING ORGANIZATIONS AND CONFIRMS THE EXEMPT STATUS OF THE GRANTEE. ECU DOES NOT MONITOR THE FUNDS USE, AS USE OF FUNDS IS AT THE DISCRETION OF THE GRANTEE. X 1 1 X X X X 0 0 0 KELLY PRICE PRESIDENT, CEO 690932 0 299589 0 12962 0 -261700 0 13549 0 755332 0 0 0 MATT WIMBERLEY VP, CHIEF LEGAL OFFICER 246673 0 58227 0 1525 0 27879 0 25332 0 359636 0 0 0 JEREMIAH LOUNDS VP, CHIEF OPERATING OFFICER 245688 0 57255 0 1305 0 27879 0 25332 0 357459 0 0 0 RUSSELL AYSCUE VP, CHIEF INFORMATION OFFICER 228361 0 53304 0 5809 0 24324 0 24482 0 336280 0 0 0 MARK MILLWOOD VP, CHIEF HUMAN RESOURCE OFFICER 225294 0 52564 0 4143 0 26164 0 23182 0 331347 0 0 0 THOMAS KENNEDY VP, BUSINESS SERVICES 235438 0 33974 0 4022 0 30172 0 26332 0 329938 0 0 0 DARRELL DINSMORE SVP, CHIEF ADMINISTRATIVE OFFICER 333173 0 76479 0 4457 0 -115700 0 19280 0 317689 0 0 0 TONJA FISH VP, CHIEF FINANCIAL OFFICER 342454 0 76935 0 4257 0 -118700 0 10933 0 315879 0 0 0 ROBIN WILKERSON ENTERPRISE PROJECT MANAGER 188454 0 28210 0 10669 0 25209 0 20628 0 273170 0 0 0 DOLLY LINKOUS VP, CHIEF LENDING OFFICER 269036 0 62344 0 5544 0 -92700 0 18222 0 262446 0 0 0 CHUCK PERRY VICE PRESIDENT, BRANCH OPERATIONS 174263 0 20811 0 3394 0 20611 0 10549 0 229628 0 0 0 KEVIN HILL VP CHIEF BRAND OFFICER 145918 0 16597 0 936 0 15172 0 25332 0 203955 0 0 0 DEBRA BRIDWELL THRU 322 SVP, CHIEF MARKETING OFFICER 101634 0 68349 0 2462 0 10240 0 2071 0 184756 0 0 0 JILL ALLEY REGIONAL DIRECTOR 150970 0 53109 0 3186 0 -54990 0 20628 0 172903 0 0 0 CATHY BYERS REGIONAL DIRECTOR 167488 0 27388 0 5682 0 -56712 0 20303 0 164149 0 0 0 OLAN JONES FORMER PRESIDENT/CEO 104931 0 0 0 0 0 0 0 0 0 104931 0 0 0 PART I, LINE 1A THE CREDIT UNION'S EXPENSE POLICY INCLUDES AN ACCOUNTABLE PLAN WHEREBY BUSINESS EXPENSES ARE PAID BY THE CREDIT UNION AND WHEREBY ANY PERMISSIBLE TRAVEL FOR COMPANIONS PERMITTED BY STATE AND FEDERAL CREDIT UNION REGULATIONS ARE INCLUDED AS INCOME TO THE OFFICIAL. PART II, COLUMN (C): SCHEDULE J PART II, COLUMN (C) SHOWS NEGATIVE AMOUNTS DUE TO ACTUARIAL DECREASES IN VALUES AS REQUIRED TO BE REPORTED PER IRS INSTRUCTIONS FOR FORM 990, PART VII. FORM 990, PART VI, SECTION A, LINE 6 EASTMAN CREDIT UNION IS A MEMBER OWNED NON-PROFIT TAX EXEMPT CORPORATION IN WHICH EACH MEMBER OWNS AN EQUAL SHARE. FORM 990, PART VI, SECTION A, LINE 7A AT THE ANNUAL MEETING OF THE MEMBERS, EASTMAN CREDIT UNION'S MEMBERS ELECT INDIVIDUALS FROM THE CREDIT UNION'S MEMBERSHIP TO SERVE ON THE BOARD OF DIRECTORS FOR THREE YEAR TERMS. IN THE EVENT THERE IS A VACANCY ON THE BOARD, THE DIRECTORS MAY APPOINT AN INTERIM MEMBER TO SERVE OUT THE TERM OF THE VACANT BOARD POSITION. FORM 990, PART VI, SECTION A, LINE 7B EASTMAN CREDIT UNION'S MEMBERS HAVE THE RIGHT TO VOTE, ON A PER CAPITA BASIS, ON DISSOLUTION OF THE CREDIT UNION, MERGER WITH ANOTHER CREDIT UNION, EXPULSION OF A MEMBER, CONVERSION FROM A STATE TO A FEDERALLY CHARTERED CREDIT UNION, CONVERSION TO ANOTHER TYPE OF FINANCIAL INSTITUTION, OR TO OVERRULE A DECISION OF THE CREDIT UNION'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B EASTMAN CREDIT UNION'S FORM 990 IS PREPARED BY AN OUTSIDE CPA FIRM AND THEN REVIEWED BY ECU'S CEO, CFO, VP, CHIEF LEGAL OFFICER AND GENERAL COUNSEL, VP, CHIEF HUMAN RESOURCE OFFICER, AND CONTROLLER. A COMPLETE COPY OF THIS FORM 990 IS PROVIDED TO ALL MEMBERS OF THE ECU BOARD OF DIRECTORS BEFORE FILING THE FORM. FORM 990, PART VI, SECTION B, LINE 12C PRIOR TO EMPLOYMENT ALL EMPLOYEES AND OFFICERS OF EASTMAN CREDIT UNION ARE REQUIRED TO DISCLOSE ALL POTENTIAL CONFLICTS OF INTEREST AND MUST AGREE TO UPDATE THE DISCLOSURE IN THE EVENT ANY CONFLICTS ARISE SUBSEQUENT TO EMPLOYMENT. PRIOR TO SERVING ON THE BOARD OF DIRECTORS, ALL PROSPECTIVE BOARD MEMBERS ARE REQUIRED TO DISCLOSE ALL POTENTIAL CONFLICTS OF INTEREST. ALL EMPLOYEES AND MEMBERS OF THE BOARD OF DIRECTORS ARE ALSO REQUIRED TO COMPLETE AN UPDATED DISCLOSURE AT LEAST ANNUALLY. IT IS THE RESPONSIBILITY OF THE PRESIDENT OR CHAIR OF THE BOARD OF DIRECTORS TO DETERMINE THE RESOLUTION OF ALL ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. MEMBERS OF THE BOARD OF DIRECTORS DO NOT PARTICIPATE IN THE DELIBERATIONS OR VOTING ON MATTERS WHERE AN ACTUAL OR APPARENT CONFLICT OF INTEREST EXISTS. FORM 990, PART VI, SECTION B, LINE 15 EASTMAN CREDIT UNION ANNUALLY PARTICIPATES IN EXECUTIVE COMPENSATION SURVEYS OF REPUTABLE COMPENSATION CONSULTANTS BY PROVIDING CURRENT BASE AND TOTAL COMPENSATION INFORMATION OF THE ECU OFFICERS. THE CONSULTING GROUPS FOCUS ON COMPARATIVE COMPENSATION INFORMATION WITHIN THE CREDIT UNION INDUSTRY. AS A RESULT OF PARTICIPATION, ECU RECEIVES DATA COMPILATION REPORTS AND ANALYSES FROM THE STUDIES CONDUCTED BY THESE COMPENSATION EXPERTS. RANKING AND COMPARATIVE INFORMATION FOR EACH RELEVANT POSITION IS PROVIDED IN BOTH STUDIES. ECU STUDIES AND UTILIZES PEER GROUP INFORMATION RELATIVE TO ECU'S ASSET SIZE AS BENCHMARK DATA. EASTMAN CREDIT UNION WORKS WITH CONSULTANTS FROM EACH RESPECTIVE CONSULTING FIRM TO OBTAIN SPECIAL DATA CUTS, CLARIFYING INFORMATION, AND ADVICE REGARDING MATCHING OF ECU POSITIONS TO BENCHMARK JOBS, INDUSTRY AVERAGE INCREASE IN EXECUTIVE COMPENSATION, AND OTHER INFORMATION RELATED TO EXECUTIVE BASE AND TOTAL COMPENSATION FACTORS. THE VICE PRESIDENT OF HUMAN RESOURCES PROVIDES A RECAP OF COMPENSATION STUDY INFORMATION IN A PRESENTATION FORMAT DURING A MEETING OF THE COMPENSATION COMMITTEE (SUBCOMMITTEE OF THE ECU BOARD OF DIRECTORS). THE COMPENSATION COMMITTEE REVIEWS THE DATA AND DISCUSSES AND PRESENTS QUESTIONS RELATED TO THE INFORMATION PROVIDED. WHEN NECESSARY, THE VP, CHIEF HUMAN RESOURCE OFFICER WILL FOLLOW UP WITH COMPENSATION CONSULTANTS FOR ADDITIONAL INFORMATION TO BE PRESENTED FOR DISCUSSION AND CONSIDERATION. THE COMPENSATION COMMITTEE APPROVES AN AVERAGE SALARY INCREASE FOR THE CEO'S DIRECT REPORTS AND AUTHORIZES THE CEO TO AWARD INDIVIDUAL SALARY INCREASES ACCORDINGLY. FINAL AWARDS ARE DOCUMENTED AND SIGNED BY BOTH THE CEO AND THE CHAIR OF THE COMPENSATION COMMITTEE. THIS DOCUMENT IS SUBMITTED TO PAYROLL VIA THE VP, CHIEF HUMAN RESOURCE OFFICER. THE COMPENSATION COMMITTEE MEETS IN EXECUTIVE SESSION TO FURTHER CONSIDER COMPENSATION DATA FOR THE CEO. FINAL AWARD IS DOCUMENTED AND SIGNED AS APPROVED BY THE CHAIR OF THE COMPENSATION COMMITTEE. THIS DOCUMENT IS SUBMITTED TO PAYROLL VIA THE VP, CHIEF HUMAN RESOURCE OFFICER. ORIGINAL DOCUMENTS ARE MAINTAINED ON FILE IN THE HUMAN RESOURCES DEPARTMENT. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND OTHER RECORDS AND POLICIES OF ECU ARE NOT GENERALLY MADE AVAILABLE TO THE PUBLIC. ECU MEMBERS ARE ENTITLED TO INSPECT CERTAIN RECORDS OF THE CREDIT UNION AFTER COMPLYING WITH THE REQUIREMENTS OF STATE LAW. FINANCIAL INFORMATION IS PUBLISHED IN THE ANNUAL REPORT AND IS MADE AVAILABLE TO THE PUBLIC ON A QUARTERLY BASIS VIA NCUA'S WEBSITE. FORM 990, PART XI, LINE 9: NET DEFINED BENEFIT PENSION PLAN COST ADJUSTMENT -1,694,438. NET POST-RETIREMENT BENEFIT PLAN COST ADJUSTMENT 1,244,970. ECU TITLE SERVICES LLC 201 S WILCOX DR KINGSPORT TN 37660 464133177 TITLE AND ESCROW SERVICES TN -292206 2972481 EASTMAN CREDIT UNION