2023-07-27T08:54:33-05:00 2022-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2022-01-01 561295697 VIZO FINANCIAL CORPORATE CREDIT UNION VIZO 3362174992 7900 TRIAD CENTER DRIVE 410 GREENSBORO NC 27409 MARK BROWN CFO 3362174907 2023-07-27 1 MARK BROWN 999009999 0 JOHN J MURNANE JR P03021572 3052328272 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DAVID BREHMER 7900 TRIAD CENTER DRIVE SUITE 410 GREENSBORO NC 27409 215933784 0 X WWW.VFCCU.ORG X 1980 NC VIZO FINANCIAL IS THE CREDIT UNIONS' "CREDIT UNION" OFFERING LIQUIDITY SERVICES, INVESTMENT SERVICES, AND CORRESPONDENT SERVICES TO ITS MEMBERS. 9 9 184 17 0 0 0 0 119689284 113094854 35851249 103477400 -199388 -638470 155341145 215933784 52950 54500 0 0 19890453 19459317 0 0 0 34063191 115504788 54006594 135018605 101334551 80915179 5382501749 6740797633 4927806728 6247237000 454695021 493560633 DRIVING CREDIT UNION SUCCESS THROUGH PROVEN EXCELLENCE, EXPERTISE, AND ENGAGED PARTNERSHIPS. 0 0 SETTLEMENT AND PAYMENT SERVICES: WE PROVIDE AGGREGATED PAYMENT SERVICES SO CREDIT UNIONS CAN EFFICIENTLY AND COST EFFECTIVELY SERVE THEIR MEMBERS, PROVIDING THEM TOOLS FOR MOVING MONEY ELECTRONICALLY. FUNDS MANAGEMENT & LIQUIDITY SERVICES: ONE OF THE KEY SERVICES WE PROVIDE MEMBERS IS A COMPLETE LINE OF COMPETITIVE SHORT-TERM DEPOSIT PRODUCTS COMBINED WITH LINES-OF-CREDIT SO THAT THEY CAN MORE EFFECTIVELY MANAGE THEIR CASH FLOW NEEDS. ASSET-LIABILITY MANAGEMENT (ALM) AND RISK MANAGEMENT SERVICES: ALM SERVICES INCLUDE BOTH CONSULTING AND MODELING RISKS INHERENT IN A CREDIT UNION'S BALANCE SHEET. OUR RISK MANAGEMENT SERVICES INCLUDE COMPLIANCE/REGULATORY TRAINING, INFORMATION SYSTEM RISK ASSESSMENTS, BUSINESS CONTINUITY PLANNING, AND ENTERPRISE RISK MANAGEMENT BEST PRACTICES. THESE SERVICES ARE DESIGNED TO HELP CREDIT UNIONS BEST UNDERSTAND AND MITIGATE RISKS THEY ENCOUNTER IN THEIR OPERATIONS. 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 1 0 0 0 0 0 0 0 0 1 0 0 0 1 44 0 1 184 1 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 1 X MARK BROWN 3362174907 7900 TRIAD CENTER DRIVE SUITE 410 GREENSBORO NC 27409 DEREK FUZZELL DIRECTOR 2.00 X 0 0 0 SCOTT WOODS BOARD CHAIRPERSON 3.00 X 0 0 0 JERRY KING DIRECTOR 2.00 X 0 0 0 JEFF CHELIUS BOARD VICE CHAIRPERSON 3.00 X 0 0 0 SCOTT WEAVER DIRECTOR 2.00 X 0 0 0 DANIEL BERRY BOARD TREASURER 3.00 X 0 0 0 MARK VOLPONI DIRECTOR 2.00 X 0 0 0 GENICE DECORTE BOARD SECRETARY 3.00 X 0 0 0 PAUL HUGHES DIRECTOR 2.00 X 0 0 0 DAVID BREHMER PRESIDENT/CEO 40.00 X 568008 0 64244 MARK BROWN CFO 40.00 X 287235 0 57307 FRED EISEL CIO 40.00 X 290333 0 58195 JEFFREY STONER CHIEF STRATEGY OFFICER 40.00 X 272315 0 110379 RODNEY MAY CHIEF ENGAGEMENT OFFICER 40.00 X 259256 0 118885 LORI GALL CHIEF RISK OFFICER 40.00 X 239496 0 91264 JOSEPH BERTOTTO CHIEF CULTURE OFFICER 40.00 X 216883 0 98985 JANICE APPLEBY CHIEF HUMAN RESOURCES OFFI 40.00 X 205311 0 69472 2338837 0 668731 40 0 1 0 JACK HENRY PO BOX 609 MONETT MO 65708 EBP PROCESSING PARTNER 2640864 CU ANSWERS 6000 28TH ST GRAND RAPIDS MI 49546 CORE DATA PROCESSOR PARTNER 1208756 ARRAYA SOLUTIONS 518 EAST TOWNSHIP LINE RD BLUE BELL PA 19422 CONSULTING SERVICES AND IT INFRASTRUCTUR 1208756 ALOGENT 35 TECHNOLOGY PARKWAY SOUTH PEACHTREE CORNERS GA 30092 DEPOSIT CAPTURE PLATFORM 535155 FISERV INC PO BOX 934057 GRAPEVINE TX 76099 PROCESSING AND ANCILLARY 517141 23 CORRESPONDENT SERVICES 522100 111088783 111088783 INCOME ON LOANS 522100 2006071 2006071 113094854 103477400 103477400 EQUITY METHOD INCOME F 522100 -638470 -638470 -638470 215933784 215933784 0 0 54500 1325322 11681994 1304843 4235702 911456 93752 240133 1904614 360786 2071022 2347147 287107 196571 357112 77855987 520628 1639273 195730 CORRESPONDENT SERVICES 26821350 MISCELLANEOUS EXPENSE 484018 MAINTENANCE 129558 135018605 10561851 5852040 1201458064 2533257378 45786977 75163625 8560644 8387648 1088364 121202563 2157017 1659619 13810315 11077760 2518008 2732555 3983941092 3851140505 78100442 73504822 1120822 176447 47208468 67720431 5382501749 6740797633 53931113 68761972 1300000000 4873875615 4878475028 4927806728 6247237000 X 0 0 0 0 454695021 493560633 454695021 493560633 5382501749 6740797633 X 80915179 -40198024 -1851543 X X 0 1 X 1 0 132800 132800 374259 136629 237630 384020 256558 127462 12919236 10684573 2234663 2732555 DAILY SHARE ACCOUNTS 4120051678 PSA-30 SHARE ACCOUNTS 7011923 PSA-90 SHARE ACCOUNTS 146482171 HOLIDAY ACCUMULATION ACCOUNT 2615000 CERTIFICATES 593808847 NON-PERPETUAL CAPITAL SHARES 8505409 4878475028 X 235673859 -17938450 -17938450 253612309 -37678525 -37678525 215933784 117080155 0 117080155 17938450 17938450 135018605 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. PART XI, LINE 2D - OTHER ADJUSTMENTS: FRB EBA REPORTED WITHIN THE FORM 990 STATEMENT OF EXPENSES, WHILE THE AUDITED FINANCIAL STATEMENTS REPORT THE AMOUNT NET OF REVENUE. -17,938,450. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL DIVIDEND ISSUED BY THE ORGANIZATION TO MEMBERS REPORTED NET OF RELATED REVENUE WITHIN THE FORM 990 STATEMENT OF REVENUE WHILE THE AUDITED FINANCIAL STATEMENTS REPORT THE TRANSACTION AS A REDUCTION OF UNDIVIDED EARNINGS. REGARDLESS OF THE DIFFERING PRESENTATIONS, ENDING EQUITY PER THE 990 IS EQUAL TO THAT WHICH IS REPORTED IN THE AUDITED FINANCIAL STATEMENTS. -37,678,525. PART XII, LINE 4B - OTHER ADJUSTMENTS: FRB EBA REPORTED WITHIN THE FORM 990 STATEMENT OF EXPENSES, WHILE THE AUDITED FINANCIAL STATEMENTS REPORT THE AMOUNT NET OF REVENUE. 17,938,450. 1 CAROLINAS CREDIT UNION FOUNDATION 4100 MENDENHALL OAKS PARKWAY SUITE 130 HIGH POINT NC 27265 561842095 501(C)(3) 14600 0 CHARITABLE CONTRIBUTION CROSSSTATE CREDIT UNION FOUNDATION 4309 N FRONT STREET HARRISBURG PA 17110 251786339 501(C)(3) 9900 0 CHARITABLE CONTRIBUTION 2 0 PART I, LINE 2: THE AMOUNTS PAID TO THE ORGANIZATIONS ARE CONSIDERED DONATIONS, NOT GRANTS. SO THERE IS NO MONITORING. SOME DONATIONS ARE EVENT SPONSORSHIP BASED. X 1 1 X X X X X 0 1 0 DAVID BREHMER PRESIDENT/CEO 469277 0 37567 0 61164 0 52909 0 11335 0 632252 0 0 0 JEFFREY STONER CHIEF STRATEGY OFFICER 256002 0 14657 0 1656 0 78200 0 32179 0 382694 0 0 0 RODNEY MAY CHIEF ENGAGEMENT OFFICER 236531 0 21130 0 1595 0 86706 0 32179 0 378141 0 0 0 FRED EISEL CIO 255983 0 15197 0 19153 0 26016 0 32179 0 348528 0 0 0 MARK BROWN CFO 243288 0 16283 0 27664 0 25128 0 32179 0 344542 0 0 0 LORI GALL CHIEF RISK OFFICER 222191 0 14209 0 3096 0 69391 0 21873 0 330760 0 0 0 JOSEPH BERTOTTO CHIEF CULTURE OFFICER 200596 0 11736 0 4551 0 77150 0 21835 0 315868 0 0 0 JANICE APPLEBY CHIEF HUMAN RESOURCES OFFI 192782 0 11036 0 1493 0 57677 0 11795 0 274783 0 0 0 PART I, LINE 4B CERTAIN MEMBERS OF MANAGEMENT PARTICIPATE IN A 457(F) PLAN. BENEFIT INFORMATION AS OF DECEMBER 31, 2022 FOR EACH OF THE PARTICIPANTS IS AS FOLLOWS: THE 457(F) BENEFIT EXPENSE ACCRUED DURING 2022 FOR EACH OF THE PARTICPANTS REPORTED IN PART VII IS AS FOLLOWS: JANICE APPLEBY: $39,422 LORI GALL: $47,710 RODNEY MAY: $63,113 JEFFREY STONER: $53,289 JOSEPH BERTOTTO: $61,773 DAVID BREHMER: $25,459 DAVID BREHMER PRESIDENT/CEO TO FUND LIFE INSURANCE POLICY X 3000000 3451385 0 1 1 MARK BROWN CFO TO FUND LIFE INSURANCE POLICY X 53340 52430 0 1 1 FRED EISEL CIO TO FUND LIFE INSURANCE POLICY X 49123 58800 0 1 1 JAY MURRAY CEO (JAN 2021 - JUN 2021) TO FUND LIFE INSURANCE POLICY X 5300000 4825033 0 1 1 8387648 FORM 990, PART VI, SECTION A, LINE 6 MEMBERS ARE MADE UP OF NATURAL PERSON CREDIT UNIONS. MEMBERSHIP IS REQUIRED FOR SERVICE. FORM 990, PART VI, SECTION A, LINE 7A WE HAVE APPROXIMATELY 660 MEMBER-OWNERS WHO ELECT THE BOARD OF DIRECTORS. EACH MEMBER ORGANIZATION HAS ONE VOTE. 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. IN ADDITION TO ELECTION OF BOARD MEMBERS, SOME MAJOR DECISIONS SUCH AS MERGING REQUIRE MEMBERSHIP APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B THE CFO COMPILES ALL REQUESTED DATA FOR COMPLETING FORM 990 FROM APPROPRIATE DEPARTMENTS. HE WORKS WITH THE HUMAN RESOURCES DEPARTMENT AND THE CHIEF HUMAN RESOURCES OFFICER TO ENSURE ALL EMPLOYEE COMPENSATION DATA IS ACCURATE. OUR CPA FIRM COMPLETES A DRAFT OF FORM 990 WHICH IS REVIEWED BY THE PRESIDENT/CEO AND CFO. AFTER THE PRESIDENT/CEO AND CFO REVIEW FORM 990 AND ANY NECESSARY CHANGES ARE MADE, THE CPA FIRM FINALIZES 990. FORM 990, PART VI, SECTION B, LINE 12C AT THE START OF EACH BOARD MEETING, EACH DIRECTOR MUST DISCLOSE IF THERE ARE ANY POTENTIAL CONFLICT OF INTEREST REGARDING ANY ACTION OR DISCUSSION TOPIC THAT WILL TAKE PLACE DURING THE MEETING. IF AFFIRMATIVE, THAT DIRECTOR IS EXCLUDED FROM BOTH DISCUSSION AND ACTION ON THAT SPECIFIC ISSUE. FORM 990, PART VI, SECTION B, LINE 15 WE UTILIZE THE SERVICES OF A THIRD-PARTY CONSULTANT WHO SPECIALIZES IN COMPENSATION STUDIES FOR EVERY POSITION WITHIN THE ORGANIZATION. ALL POSITIONS HAVE SET SALARY RANGES BASED ON OUTSIDE COMPENSATION STUDIES AND RECOMMENDATIONS BY THE COMPENSATION CONSULTANT. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: ISSUANCE OF PERPETUAL CONTRIBUTED CAPITAL 1,313,148. DIVIDENDS ON PERPETUAL CONTRIBUTED CAPITAL -3,164,691. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. MY CU SERVICES LLC 1201 FULLING MILL RD MIDDLETON PA 17057 251865944 PAYMENT SERVICES PA 13814173 18814423 VIZO FINANCIAL CORPORATE CREDIT UNION