2025-05-14T15:33:37-05:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 620526770 TEN CREDIT UNION TENC 6152441910 1400 8TH AVE SOUTH NASHVILLE TN 37203 RAFAEL RONDON CEO 6152441910 2025-05-14 0 AUBREY CLEGG P01076395 3052328272 2025-05-14 2024 2025-03-06 01:10:19Z RAFAEL RONDON 1400 8TH AVE SOUTH NASHVILLE TN 37203 23955643 0 X WWW.TENCU.COM X 1950 TN TO PROVIDE SERVICES TO ITS MEMBERS INCLUDING LOAN, CHECKING AND SAVING SERVICES. 7 7 137 9 133060 0 0 0 15833077 16641933 3644481 6244791 0 0 19477558 22886724 58629 69698 0 0 7650238 7867776 0 0 0 11535431 13914035 19244298 21851509 233260 1035215 430778750 403502042 401746997 372740381 29031753 30761661 X YOUR TRUSTED FINANCIAL PARTNER FOR LIFE. WE ARE COMMITTED TO HONORING TRADITIONAL CREDIT UNION VALUES WHILE UTILIZING INNOVATION TO PROVIDE AN EXCEPTIONAL MEMBER EXPERIENCE. 0 0 AT 12/31/24, TEN CREDIT UNION (TENCU) HAS 7 LOCATIONS COVERING A WIDE GEOGRAPHIC AREA OF MIDDLE AND EAST TENNESSEE. TTCU OFFERS A WIDE RANGE OF CONSUMER CREDIT AND DEPOSIT PRODUCTS & SERVICES. THESE INCLUDE CREDIT CARDS, SECURED AND UNSECURED TERM AND REVOLVING LOANS, RESIDENTIAL CONSTRUCTION AND PERMANENT MORTGAGE LENDING. TEN CREDIT UNION RETAINS MOST MORTGAGE LOANS BUT OCCASIONALLY SELL MORTGAGES TO ROCKET MORTGAGE AND OTHER 3RD PARTY AFFILIATES. TEN CREDIT UNION ENTERED INTO A COMMITMENT WITH METRO AND RETAINS SERVICING. TEN CREDIT UNION PROVIDES VALUE SERVICES INCLUDING "SUMMER PAY" PROGRAMS, AND SEASONAL SAVINGS ACCOUNTS SUCH AS CHRISTMAS AND VACATION CLUB SAVINGS TO AID OUR MEMBERS IN MANAGING THEIR BUDGETS AND ACHIEVING THEIR FINANCIAL THRIFT OBJECTIVES. KEY DATA AS OF DECEMBER 31, 2024 INCLUDE 7 LOCATIONS, 79 EMPLOYEES, 19,633 MEMBERS, 13,531 LOAN ACCOUNTS AND 35,058 DEPOSIT ACCOUNTS. TEN CREDIT UNION ENTERED INTO A COMMITMENT WITH METRO NASHVILLE BOARD OF EDUCATION TO ESTABLISH, PROVIDE EQUIPMENT, FURNISHINGS, EDUCATIONAL TRAINING, AND OPERATIONAL SUPPORT FOR THE ANTIOCH HIGH SCHOOL'S "TEN CREDIT UNION ACADEMY OF BUSINESS AND FINANCE." ADDITIONALLY, TEN CREDIT UNION PROVIDES PAID SUMMER INTERNSHIPS TO WORTHY STUDENTS, TRAINING THEM IN OPERATING A LIMITED-SERVICE CREDIT UNION AT THE SCHOOL. TEN CREDIT UNION IS THE SOLE FINANCIAL SPONSOR FOR THE STUDENTS, TRAINING THEM IN OPERATING A LIMITED-SERVICE CREDIT UNION AT THE SCHOOL. DURING 2024, THE CREDIT UNION PROVIDED $52,798 IN RESOURCES SUCH AS INTERNSHIPS, TRAINING, AND EQUIPMENT FOR THE PROGRAM. TEN CREDIT UNION DONATED TO ELEVEN DIFFERENT ORGANIZATIONS IN 2024 THAT TOTALED TO $16,900. 0 0 0 0 0 0 0 0 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 0 1 1 0 0 1 19916 0 1 137 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X ANDRES LLANOS 6157807774 1400 8TH AVE SOUTH NASHVILLE TN 37203 CHRIS HENSON CHAIRPERSON 3.00 X 0 0 0 CHRISTINA ADKISON VICE CHAIRPERSON 3.00 X 0 0 0 DOROTHY GUNN SECRETARY 3.00 X 0 0 0 ROBERT NELSON TREASURER 3.00 X 0 0 0 SCOTT MELTZER DIRECTOR 3.00 X 0 0 0 ROBERT CHURCHWELL DIRECTOR 3.00 X 0 0 0 NEAL SMITH DIRECTOR 3.00 X 0 0 0 ALICIA FRIERSON SUPERVISORY COMMITTEE 2.00 X 0 0 0 ADAM SALVADOR SUPERVISORY COMMITTEE 2.00 X 0 0 0 RAFAEL RONDON CEO 45.00 X 367992 0 45468 ANDRES LLANOS CFO 45.00 X 273729 0 37394 MICHAEL ROUSSEL CTMO 45.00 X 177500 0 20266 MARIA EDWARDS COO 45.00 X 156058 0 24118 THOMAS G'FELLERS CLO 45.00 X 150660 0 34389 KUSSILLA KHEMRAJ CCO 45.00 X 156193 0 4732 FLAVIS BURROUGHS VP REAL ESTATE LENDING 45.00 X 162336 0 10548 1444468 0 176915 12 0 1 0 FINASTRA USA PO BOX 535120 ATLANTA GA 30353 DATA PROCESSING 1098907 FIS PO BOX 4535 CAROL STREAM IL 60194 DATA PROCESSING 537187 KEELY CONSTRUCTION 500 S EWING AVE STE G ST LOUIS MO 63103 BRANCH CONSTRUCTION 248391 VISAGMBS BUSINESS CONDUCT OFFICE PO BOX 8999 SAN FRANCISCO CA 94128 DATA PROCESSING 244934 CAPITAL CITY PRESS PO BOX 613 BATON ROUGE LA 70821 MARKETING 140400 11 INTEREST ON LOANS 522100 13491580 13491580 FEES, CHARGES AND OTHER REVENUE 522100 3017293 3017293 FINANCE AND INSURANCE 520000 133060 133060 16641933 3932245 3932245 3381465 1068919 2312546 2312546 2312546 22886724 22753664 133060 0 X 69698 724583 5435118 545698 708075 454302 253830 80372 113964 270485 725938 802552 1130723 130800 120560 5907115 714164 162566 PROVISION FOR LOAN LOSS 1505538 ATM EXPENSE 1109066 LOAN SERVICING EXPENSE 414284 OTHER MISCELLANEOUS EXP 288778 183300 21851509 1404841 1033960 18812932 17622814 270516287 246807012 1189739 1038198 19833538 10022232 10840997 9811306 115058075 110651891 5379622 9168168 7576257 7368693 430778750 403502042 4127193 3012677 397619804 369727704 401746997 372740381 X 0 0 0 0 29031753 30761661 29031753 30761661 430778750 403502042 X 1035215 694693 X X 0 1 X 1 0 3454428 3454428 12073300 6117240 5956060 68957 68954 3 4236853 3836038 400815 9811306 MEMBERSHIP SHARES 369727704 369727704 X 22886724 0 22886724 0 22886724 21851509 0 21851509 0 21851509 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE CREDIT UNION'S WHOLLY-OWNED SUBSIDIARY, HOWEVER, IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. OPERATIONS OF THE WHOLLY-OWNED SUBSIDIARY RESULTED IN NO INCOME TAXES FOR THE YEARS ENDED 2024 AND 2023. THE CREDIT UNION HAS ADOPTED ASC 740, INCOME TAXES (ASC 740), WHICH PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. ASC 740 ALSO PROVIDES GUIDANCE ON DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. MANAGEMENT EVALUATES THE TAX POSITIONS TAKEN ON TAX FILINGS AND CONSULTS WITH OUTSIDE PROFESSIONALS IN EVALUATING THE LIKELIHOOD OF UNFAVORABLE RESULTS FROM ANY SUCH TAX POSITIONS. THE CREDIT UNION WILL RECOGNIZE TAX PENALTIES AND RELATED INTEREST IN INCOME TAX EXPENSE IN THE PERIOD IN WHICH MANAGEMENT ESTIMATES IT LIKELY THAT A LIABILITY FOR SUCH ITEMS HAS BEEN INCURRED. 1 ANTIOCH HIGH SCHOOL 1901 HOBSON PK ANTIOCH TN 37013 620717138 501(C)(3) 52798 0 SPONSORSHIP 1 0 SCHEDULE I, PART I, LINE 2: THIS SPONSORSHIP IS PART OF A COMMITMENT TEN CREDIT UNION ENTERED WITH METRO NASHVILLE BOARD OF EDUCATION TO ESTABLISH, PROVIDE EQUIPMENT, FURNISHINGS, EDUCATIONAL TRAINING, AND OPERATIONAL SUPPORT FOR THE ANTIOCH HIGH SCHOOL'S "TEN CREDIT UNION ACADEMY OF BUSINESS AND FINANCE." X 1 1 X X 0 0 0 RAFAEL RONDON CEO 317260 0 47751 0 2981 0 22099 0 23369 0 413460 0 0 0 ANDRES LLANOS CFO 263537 0 5000 0 5192 0 14025 0 23369 0 311123 0 0 0 MICHAEL ROUSSEL CTMO 169200 0 5000 0 3300 0 12452 0 7814 0 197766 0 0 0 THOMAS G'FELLERS CLO 145660 0 5000 0 0 0 11020 0 23369 0 185049 0 0 0 MARIA EDWARDS COO 151058 0 5000 0 0 0 9517 0 14601 0 180176 0 0 0 FLAVIS BURROUGHS VP REAL ESTATE LENDING 144602 0 2349 0 15385 0 10176 0 372 0 172884 0 0 0 KUSSILLA KHEMRAJ CCO 156193 0 0 0 0 0 4732 0 0 0 160925 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 EACH INDIVIDUAL WHO OPENS A SHARE/SAVINGS ACCOUNT BECOMES A MEMBER OF THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B A THIRD-PARTY CPA FIRM IS RETAINED TO ASSIST IN THE PREPARATION AND ELECTRONIC FILING OF FORM 990. A DRAFT RETURN IS REVIEWED BY THE CEO, CFO, AND VP OF FINANCE FOR ACCURACY PRIOR TO FILING. SUBSEQUENT TO FILING, A COPY OF FORM 990 IS MADE AVAILABLE TO MEMBERS OF THE BOARD OF DIRECTORS UPON THEIR REQUEST. FORM 990, PART VI, SECTION B, LINE 12C UPON HIRING, EMPLOYEES ARE REQUIRED TO ACKNOWLEDGE REVIEW OF THE EMPLOYEE HANDBOOK WHICH INCLUDES THE CREDIT UNION'S CONFLICT OF INTEREST POLICIES. THEREAFTER, EMPLOYEES ARE ALSO REQUIRED TO REVIEW THE POLICY AND SIGN A CONFLICT OF INTEREST ACKNOWLEDGEMENT FORM ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS WHO ARE INDEPENDENT. OTHER OFFICERS' COMPENSATION IS DETERMINED BY THE CEO. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE AVAILABLE AT ANNUAL SHAREHOLDER MEETINGS AND ARE AVAILABLE UPON REQUEST. THE CREDIT UNION'S CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART IX, LINE 24E BANK SERVICE CHARGES 144,062. FRAUD EXPENSE 39,238. FORM 990, PART XI, LINE 9: NET CHANGE IN DEFINED BENEFIT OBLIGATION 556,542. NET CHANGE IN POST-RETIREMENT BENEFIT OBLIGATION 138,151. FORM 990, PART XII, LINE 2B THE CREDIT UNION'S AUDITED FINANCIAL STATEMENTS AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2024, WERE REPORTED ON A CONSOLIDATED BASIS. HOWEVER, THE CREDIT UNION'S SUBSIDIARY HAD NO ACTIVITY DURING THE YEAR ENDED DECEMBER 31, 2024, AS A RESULT OF BEING INACTIVE SINCE 2017. THE CREDIT UNION HAS MAINTAINED THE SHELL OF THE SUBSIDIARY CORPORATION SHOULD MANAGEMENT DECIDE THAT ACTIVITY WILL RESUME IN THE FUTURE. AS A RESULT, THE CONSOLIDATED FINANCIAL STATEMENT PRESENTATION AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2024, WAS IDENTICAL TO THAT OF A SEPARATE (CREDIT UNION ONLY) PRESENTATION. THEREFORE, SCHEDULE D, PARTS XI AND XII WERE COMPLETED. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES TO THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. CUCORP INC 1400 8TH AVE S NASHVILLE TN 37203 621222556 MORTGAGE LOANS TN TENCU C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0