2025-05-15T14:26:49+00:00 2024-12-31 440160260 Forvis Mazars LLP 820 Massachusetts Ave Suite 1370 Indianapolis IN 46204 990 2024-01-01 350885381 Centra Credit Union CENT 8123140273 3801 TUPELO DRIVE PO BOX 789 COLUMBUS IN 47201 Sarah Stair VP Accounting 8123140282 2025-05-15 true true Michael Summers P00838533 3173834000 2025-05-15 2024 2025-03-06 01:10:19Z RICK SILVERS 3801 TUPELO DRIVE PO BOX 789 COLUMBUS IN 47201 144540713 false X WWW.CENTRA.ORG X 1997 IN STATE CHARTERED AND FEDERALLY INSURED CREDIT UNION WHICH GRANTS CONSUMER LOANS INCLUDING CREDIT CARDS, MORTGAGE LOANS, AND BUSINESS LOANS TO ITS MEMBERS. 9 9 510 0 1128299 0 119281464 135401681 6140993 9139032 0 125422457 144540713 0 0 30707986 34752765 0 0 85536139 101239209 116244125 135991974 9178332 8548739 2076967433 2126245937 1856835053 1897484606 220132380 228761331 STATE CHARTERED AND FEDERALLY INSURED CREDIT UNION WHICH GRANTS CONSUMER LOANS INCLUDING CREDIT CARDS AND OPEN-END CREDIT, MORTGAGE LOANS AND BUSINESS LOANS TO ITS MEMBERS. false false CREDIT UNION PROGRAMS. ALL ACTIVITIES ARE STATE CHARTERED CREDIT UNION ACTIVITIES WHICH ARE EXEMPT UNDER SECTION 501(C)(14) 0 false false true false false false false false true false true true false false true false false true false false false false false false false false false true false true false false false false false true false false false false false false false false true false false false false false true 134925 0 true 510 true true true false false false false false false false X 9 9 false false true false true true false true true false true true false true true true true true true false false false IN X SAMANTHA STIGDON 8123140273 3801 TUPELO DRIVE PO BOX 789 COLUMBUS IN 47201 Christopher Orben DIRECTOR 1.7 X 10752 0 0 DONALD JACKSON DIRECTOR 2.1 X 10752 0 0 Gina Pleak Director 1.8 X 7168 0 0 JIM BICKEL SECRETARY/TREASURER 1.3 X 13216 0 0 JODY HEAZLITT Supervisory Chair 1.9 X 12432 0 0 JOSEPH BROWN BOARD VICE PRESIDENT 2.3 X 11872 0 0 KESAVAN VENUGOPAL DIRECTOR 1.8 X 11872 0 0 KEVINA SCHUMAKER DIRECTOR 1.9 X 10752 0 0 MARY STROH DIRECTOR 1.9 X 10752 0 0 Michael Fleetwood Supervisory Committee Member 1.3 X 4032 0 0 RANDY PROFITT BOARD CHAIR 2.1 X 14000 0 0 S Shawnn Storms Supervisory Committee Member 1.5 X 4032 0 0 Shannon Jenkins Supervisory Committee Member 1.4 X 2688 0 0 BRAD DAVIS CHIEF GROWTH OFFICER 45.0 X 315966 0 27332 DAVID MANN CHIEF FINANCIAL OFFICER 45.0 X 402668 0 19298 PATRICIA KNORR CHIEF DEVELOPMENT OFFICER 45.0 X 196577 0 9544 PAUL ADRIAN CHIEF INFORMATION OFFICER 45.0 X 138655 0 8130 RICK SILVERS PRESIDENT & CEO 45.0 X 813397 0 35791 Swaminathan Seetharaman CHIEF EXPERIENCE OFFICER 45.0 X 287992 0 30332 Brent Parks SVP TECHNOLOGY 45.0 X 209125 0 22195 Carl Fry SVP FINANCE 45.0 X 192919 0 13316 DOUG SHARKEY SVP MORTGAGE LOAN DELIVERY 45.0 X 221068 0 23248 KARL KISSINGER SVP BUSINESS SERVICES 45.0 X 207780 0 22400 MELISSA JEWELL SVP TEAM MEMBER EXPERIENCE 45.0 X 200717 0 15803 3311184 0 227389 41 false true false FISERV PO BOX 934057 ATLANTA GA 31193 SOFTWARE 5639459 MASTERCARD 100 MANHATTANVILLE ROAD PURCHASE NY 10577 CREDIT PROCESSOR 2570553 PRESIDIO NETWORK PENN 1 1 Pennsylvania Plaza Suite 2501 New York NY 10119 INTERNET TECHNOLOGY 1866179 QSI INC 107 SCHULER DRIVE BARDSTOWN KY 40004 STORAGE 1425845 VELERA 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT PROCESSOR 1138108 54 0 INTEREST - LOANS 522100 97368159 97368159 SERVICE & MEMBER FEES 522100 12483152 11354853 1128299 CREDIT CARD INCOME 522200 11555325 11555325 INSURANCE COMMISSIONS 524113 2886310 2886310 INT BEARING DEPOSITS 522100 6811789 6811789 4296946 4296946 0 0 135401681 6736549 6736549 0 0 2402483 0 2402483 2402483 2402483 0 0 0 0 0 0 144540713 143412414 1128299 0 X 2411345 25719388 775018 3867627 1979387 681725 174017 0 329002 2077666 6659911 4602385 384529 39107068 3765567 607966 BAD DEBT EXPENSE 15631325 COLLECTIONS 1177235 LOAN SERVICING EXPENSE 3663341 OUTSIDE SERVICES 4243284 18134188 135991974 14457424 19615806 148294692 158105590 10795623 11837810 0 0 1598511662 1607966562 73787453 28751718 44348525 45035735 222288288 242788276 0 38271219 40896158 2076967433 2126245937 2324283 2547843 0 0 1854510770 1894936763 1856835053 1897484606 X 220132380 228761331 220132380 228761331 2076967433 2126245937 X 8548739 -1063115 1143327 X false true true false 10000 10000 10000 false ICUPAC PO BOX 50425 INDIANAPOLIS IN 46250 350408785 10000 Schedule C, Part I-A, Line 1 Description of Political Activities THE CREDIT UNION DONATED MONEY TO ICUPAC WHOSE PURPOSE IS TO RAISE FUNDS AND MAKE CONTRIBUTIONS TO LEGISLATORS, WITHOUT REGARD TO PARTY AFFILIATION, WHO HAVE DEMONSTRATED SUPPORT FOR THE LEGISLATIVE POSITIONS TAKEN BY CREDIT UNIONS REPRESENTED BY THE INDIANA CREDIT UNION LEAGUE. false true X 3994343 3994343 41645890 11709776 29936114 2792571 1987192 805379 24614479 15054750 9559729 740170 740170 45035735 Closely-held equity interests Financial derivatives AVAILABLE FOR SALE SECURITIES 240982031 F HELD TO MATURITY SECURITIES 1806245 C 242788276 Federal Income Taxes MEMBERS' DEPOSITS 1857040630 FHLB ADVANCES 10000000 OTHER LIABILITIES 27896133 1894936763 87182029 -1063115 0 -1063115 88245144 56295569 56295569 144540713 79696405 0 0 79696405 56295569 56295569 135991974 Schedule D, Part X, Line 2 ASC 740 DISCLOSURE: MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. Schedule D, Part IV, Line 2b Explanation of escrow agreement ESCROW ACCOUNT: CENTRA CREDIT UNION ACTS AS A THIRD PARTY TRUSTEE THAT RECEIVES AND DISBURSES FUNDS TO PAY OBLIGATIONS OF ACCOUNT HOLDERS. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Interest Expense - 39746921 Loan Losses - 16548648 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Interest Expense - 39746921 Loan Losses - 16548648 true United Way of Bartholomew County 1531 13th ST STE 1100 Columbus IN 47201 351132860 501(C)(3) 75417 Charitable Donations Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. CENTRA CREDIT UNION PROVIDES GENERAL SUPPORT AND SPONSORSHIPS TO SECTION 501(C)(3) AND 501(C)(19) TAX EXEMPT ORGANIZATIONS AND VERIFIES THE ORGANIZATIONS STATUS USING THE GUIDESTAR WEBSITE. X false true X false true false RICK SILVERS PRESIDENT & CEO 620453 0 192944 0 0 0 9900 0 25891 0 849188 0 0 0 DAVID MANN CHIEF FINANCIAL OFFICER 327397 0 75271 0 0 0 9471 0 9827 0 421966 0 0 0 PATRICIA KNORR CHIEF DEVELOPMENT OFFICER 65563 0 59456 0 71558 0 1967 0 7577 0 206121 0 0 0 BRAD DAVIS CHIEF GROWTH OFFICER 255545 0 60421 0 0 0 9181 0 18151 0 343298 0 0 0 Swaminathan Seetharaman CHIEF EXPERIENCE OFFICER 243541 0 44451 0 0 0 7351 0 22981 0 318324 0 0 0 KARL KISSINGER SVP BUSINESS SERVICES 180980 0 26800 0 0 0 5429 0 16971 0 230180 0 0 0 DOUG SHARKEY SVP MORTGAGE LOAN DELIVERY 192041 0 29027 0 0 0 5769 0 17479 0 244316 0 0 0 MELISSA JEWELL SVP TEAM MEMBER EXPERIENCE 174313 0 26404 0 0 0 6021 0 9782 0 216520 0 0 0 Brent Parks SVP TECHNOLOGY 181148 0 27977 0 0 0 3048 0 19147 0 231320 0 0 0 Carl Fry SVP FINANCE 167533 0 25386 0 0 0 5056 0 8260 0 206235 0 0 0 Schedule J, Part I, Line 1a Health or social club dues or initiation fees CENTRA CREDIT UNION DOES NOT HAVE A WRITTEN POLICY REGARDING PAYMENT OR REIMBURSEMENT OF THE EXPENSES DESCRIBED IN 1A. HOWEVER, THE ORGANIZATION DID REQUIRE SUBSTANTIATION PRIOR TO REIMBURSING THE EXPENSES INCURRED. RICK SILVERS, DAVE MANN, BRAD DAVIS, AND SWAMI SEETHARAMAN RECEIVED CLUB DUES AND THAT WAS TREATED AS TAXABLE INCOME. Schedule J, Part I, Line 1b Written policy regarding payment or reimbursement of expenses Board reviewed and approved. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan PARTICIPATION IN SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: CENTRA CREDIT UNION PARTICIPATES IN A 457(F) PLAN. TODD CHECK, AQUISITION AGREEMENT OF TITLE COMPANY, AND SWAMINATHAN SEETHARAMAN, SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN, PARTICIPATED. IN ADDITION THE INDIVIDUALS LISTED BELOW ALSO PARTICIPATE IN SPLIT DOLLAR LIFE INSURANCE PLANS: - BRAD DAVIS - PARTICIA KNORR - DAVID MANN - NORB ADRIAN - RICK SILVERS - DAN ROBBINS Rick Silvers CEO X 4000000 4278780 false true true Dave Mann Officer X 1850000 2052274 false true true Brad Davis Officer X 725000 804270 false true true Patty Knorr Officer X 1600000 1774940 false true true Norb Adrian Officer X 1900000 2080843 false true true Dan Robbins Officer X 600000 846703 false true true 11837810 Form 990, Part VI, Line 4 Significant changes to organizational documents The Board of Directors approved new Bylaws and consolidated its existing policies into a Governance Program. Form 990, Part VI, Line 6 Classes of members or stockholders EVERY MEMBER OF THE CREDIT UNION HAVING PURCHASED ONE OR MORE SHARES OF STOCK IS A STOCKHOLDER. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body ELIGIBLE MEMBERS RECEIVE ONE VOTE TO ELECT BY MAJORITY THE DIRECTORS OF THE CREDIT UNION. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 IS REVIEWED BY THE CFO PRIOR TO FILING THE RETURN. THE FORM 990 IS ALSO REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM. Form 990, Part VI, Line 12c Conflict of interest policy CONFLICT OF INTEREST POLICIES ARE SIGNED ANNUALLY BY EACH BOARD MEMBER AND OFFICER OF THE ORGANIZATION AND REVIEWED. IF A BOARD MEMBER HAS A CONFLICT THEY RECUSE THEMSELVES FROM DISCUSSIONS AND VOTING IN THAT AREA. Form 990, Part VI, Line 15a Process to establish compensation of top management official PAY INCREASES TO TOP MANAGEMENT ARE APPROVED AS PART OF THE ANNUAL REVIEW PROCESS WHERE CENTRA COMPARES CHANGES AGAINST MARKET DATA WHERE AVAILABLE. THIS IS ULTIMATELY APPROVED BY THE BOARD COMPENSATION COMMITTEE. Form 990, Part VI, Line 19 Required documents available to the public GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part VIII, Line 2f Other Program Service Revenue - Total Revenue: 4296946, Related or Exempt Function Revenue: 4296946, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part IX, Line 11g Other Expenses FRANCHISE TAXES PAID - Total Expense: 68271, Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; ASSOCIATION DUES - Total Expense: 159748, Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; MISCELLANEOUS - Total Expense: 17906169, Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances Equity Acquired through Merger - 1143327; CENTRA FINANCIAL SERVICES LLC 501 WASHINGTON ST COLUMBUS IN 47201 352157620 BANKING IN 3387785 11708638 CENTRA CU CFS TITLE LLC 501 WASHINGTON ST COLUMBUS IN 47201 843390715 TITLE SERVICE IN 1321441 2561979 CENTRA CU