2023-08-30T10:53:22-05:00 2022-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2022-01-01 751100957 MTCU MTCU 4326887300 4717 N MIDKIFF MIDLAND TX 79705 BROOKE L MARTIN CFO 4326887300 2023-08-29 1 BROOKE MARTIN XXX-XX-XXXX 0 JENIFER L CHASE P01306883 5638884000 2023-08-29 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JANA HANEY 4717 N MIDKIFF MIDLAND TX 79705 8393701 0 X WWW.MTCU.ORG X 1955 TX MTCU IS A COOPERATIVE THRIFT INSTITUTION AND IS A MEMBER OF THE NATIONAL CREDIT UNION ASSOCIATION INSURANCE FUND. MTCU IS REGULATED BY THE STATE OF TEXAS CREDIT UNION DEPARTMENT AS WELL AS THE NATIONAL CREDIT UNION ADMINISTRATION. MTCU OFFERS PRODUCTS AND SERVICES IN FOUR PRIMARY AREAS: SHARE & CHECKING ACCOUNTS, CONSUMER LOANS, AND REAL ESTATE LOANS. MTCU IS DEDICATED TO PROVIDING PERSONAL, COURTEOUS, AND PROFESSIONAL SERVICE IN AN EFFICIENT AND CARING MANNER AND TO MEETING THE DIVERSE NEEDS OF THE MEMBER-OWNERS THROUGH SOUND MANAGEMENT PRACTICES. 7 7 44 7 19350 0 0 0 6782499 7283076 618294 1069630 0 0 7400793 8352706 0 0 507561 0 2781668 3142409 0 0 0 3486308 4295981 6775537 7438390 625256 914316 143998178 148244519 131617181 138601479 12380997 9643040 X MTCU IS A COOPERATIVE THRIFT INSTITUTION AND IS A MEMBER OF THE NATIONAL CREDIT UNION ASSOCIATION INSURANCE FUND. MTCU IS REGULATED BY THE STATE OF TEXAS CREDIT UNION DEPARTMENT AS WELL AS THE NATIONAL CREDIT UNION ADMINISTRATION. MTCU OFFERS PRODUCTS AND SERVICES IN FOUR PRIMARY AREAS: SHARE & CHECKING ACCOUNTS, CONSUMER LOANS, AND REAL ESTATE LOANS. MTCU IS DEDICATED TO PROVIDING PERSONAL, COURTEOUS, AND PROFESSIONAL SERVICE IN AN EFFICIENT AND CARING MANNER AND TO MEETING THE DIVERSE NEEDS OF THE MEMBER-OWNERS THROUGH SOUND MANAGEMENT PRACTICES. 0 0 SHARE ACCOUNTS:MTCU SHARE ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. MTCU HAD 7,627 MEMBER-OWNED ACCOUNTS ON DECEMBER 31, 2022. MEMBERS SAVINGS ACCOUNTS PAY DIVIDENDS MONTHLY AND OFFER ACCESS THROUGH THREE BRANCHES, HOME BANKING VIA THE INTERNET OR TELEPHONE AND ATMS WORLDWIDE. SPECIAL SAVINGS ACCOUNTS DESIGNED FOR CHILDREN AND TEENAGERS ENCOURAGE THE DEVELOPMENT OF CONSISTENT SAVINGS HABITS. CHECKING ACCOUNTS:MTCU PROVIDES CHECKING ACCOUNTS FOR MEMBERS. MTCU EXTENDS THE REACH OF THESE ACCOUNTS TO ALL MEMBERS WITH FREE DEBIT CARDS, FREE INTERNET ACCESS, FREE BILL PAY, AND FREE TELEPHONE TELLER. 69% OF THE MEMBERSHIP HOLDS A CHECKING ACCOUNT. CONSUMER LOANS:MTCU HAS PROVIDED VEHICLE LOANS SINCE ITS FIRST YEAR OF BUSINESS. THE CONSUMER LOAN PRODUCT LINE NOW INCLUDES EFFICIENT UNDERWRITING AND FLEXIBLE OFFERINGS FOR RECREATIONAL VEHICLES, BOATS AND MOTORCYCLES. CONSUMER LIFE AND DISABILITY INSURANCE IS AVAILABLE ON ANY OF THESE LOAN TYPES. MTCU OFFERS PERSONAL LOANS, HOME EQUITY LOANS, MORTGAGE LOANS, AND CREDIT CARDS. AS OF DECEMBER 31, 2022 MTCU HAD 5,308 CONSUMER LOANS WITH A BALANCE OF $76,715,151. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 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 1983 0 1 44 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 1 0 0 1 1 0 0 X BROOKE MARTIN 4326887300 4717 N MIDKIFF MIDLAND TX 79705 JANA HANEY PRESIDENT 40.00 X 264243 0 49472 BROOKE MARTIN CFO 40.00 X 167272 0 25176 JUSTIN MARLER COO 40.00 X 137924 0 34971 CESAR TARIN VICE PRESIDENT OF LENDING 40.00 X 122775 0 32350 SUSAN MASTEN EXECUTIVE VICE PRESIDENT 40.00 X 118312 0 29316 NANCY ASHLEY BOARD MEMBER 1.00 X 0 0 0 JON BRENNER BOARD MEMBER 1.00 X 0 0 0 ARIEL ELLIOTT BOARD MEMBER 1.00 X 0 0 0 LINDA HANCOCK SECRETARY 1.00 X X 0 0 0 BETTY MERRITT CHAIR 1.00 X X 0 0 0 OFELIA PALLANEZ VICE CHAIR 1.00 X X 0 0 0 JAYME TEDDER TREASURER 1.00 X X 0 0 0 810526 0 171285 5 0 1 0 TRI-NORTH BUILDERS INC 2625 RESEARCH PARK DR FITCHBURG WI 53711 CONTRACTOR FOR BRANCH REMODEL 664845 STRUCTURE FIRST PO BOX 1323 MASON OH 45040 PROJECT MANAGEMENT FOR BRANCH REMODEL 195774 CONVERGINT PO BOX 53008 LUBBOCK TX 79453 ALARM AND EQUIPMENT MAINTENANCE 174495 FISERV 255 FISERV DRIVE BROOKFIELD WI 53045 CORE SYSTEM MANAGEMENT 107644 4 LOAN INCOME 522100 4213499 4213499 FEE & CHARGES INCOME 522100 1954653 1939703 14950 OTHER INCOME 522100 1039333 1034933 4400 MASTERCARD INCOME 522100 75591 75591 7283076 1110625 1110625 40995 -40995 -40995 -40995 8352706 7263726 19350 1069630 679058 1772441 308911 236435 145564 2142 42953 23020 80532 233976 2017426 228384 20050 261777 84478 DIVIDENDS PAID TO MEMBE 662829 LOAN SERVICING LOSS 571086 PROVISION FOR LOAN LOSS 25392 CHARGE OFF EXPENSE 12735 29201 7438390 X 2490045 2789892 195539 301088 1091709 1116272 67045613 75488734 150049 231588 8855396 2449320 5412640 6406076 63714667 57595122 3897916 4315747 143998178 148244519 766040 1692898 205202 74607 130645939 136833974 131617181 138601479 X 0 0 0 0 12380997 9643040 12380997 9643040 143998178 148244519 914316 -3652273 0 X 0 0 0 0 1 X 745492 745492 5400235 1285720 4114515 2522660 1068418 1454242 187009 95182 91827 6406076 CERTIFICATE OF DEPOSITS 14982000 C NCUSIF 1292334 C INVESTMENTS HELD AT CATALYST CORPORATE CU 7542272 C EBA HELD AT FEDERAL RESERVE 7000000 C MORTGAGE BACKED SECURITIES 26778516 F 57595122 MEMBERS' SHARES 136833974 136833974 PART IV, LINE 2B: MTCU HOLDS FUNDS IN ESCROW TO PAY FOR HOMEOWNERS INSURANCE, FLOOD INSURANCE, AND REAL ESTATE TAXES ON BEHALF OF ITS MEMBERS. X X X 0 0 0 JANA HANEY PRESIDENT 218700 0 43257 0 2286 0 36698 0 12774 0 313715 0 0 0 BROOKE MARTIN CFO 145606 0 21486 0 180 0 4135 0 21041 0 192448 0 0 0 JUSTIN MARLER COO 126398 0 11346 0 180 0 19155 0 15816 0 172895 0 0 0 CESAR TARIN VICE PRESIDENT OF LENDING 111443 0 11062 0 270 0 17051 0 15299 0 155125 0 0 0 BROOKE MARTIN OFFICER COLLATERAL ASSIGNED SPLIT DOLLAR LIFE INSURANCE POLICY X 1050000 1116272 0 1 1 1116272 FORM 990, PART VI, SECTION A, LINE 6 MTCU HAS MEMBERS AS SPECIFIED IN ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF MTCU HAVE THE RIGHT TO ELECT DIRECTORS OF THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM USING THE INFORMATION PROVIDED BY MTCU. UPON COMPLETION OF THE FORM 990 AND BEFORE FILING WITH THE INTERNAL REVENUE SERVICE, A COPY WILL BE PRESENTED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15A MTCU USES HR PERFORMANCE SOLUTIONS COMPENSATION SOFTWARE AND CORNERSTONE CREDIT UNION LEAGUE SALARY SURVEY RESULTS TO DETERMINE APPROPRIATE COMPENSATION FOR ITS OFFICERS AND KEY EMPLOYEES. THE BOARD OF DIRECTORS SETS THE PRESIDENT'S SALARY AND THE PRESIDENT SETS THE SALARIES FOR THE REST OF THE EMPLOYEES. THE BOARD OF DIRECTORS DOCUMENTS THE PROCESS USED FOR SETTING THE PRESIDENT'S COMPENSATION. THE COMPENSATION SETTING PROCESS OCCURS FOR ALL EMPLOYEES ANNUALLY, ON THEIR ANNIVERSARY DATE. THE LAST TIME THIS PROCESS OCCURRED FOR THE PRESIDENT WAS IN 2018. FORM 990, PART VI, SECTION C, LINE 19 MTCU MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN THE SAME TIME AND MANNER AS OTHER DISCLOSURES REQUIRED UNDER INTERNAL REVENUE CODE SECTION 6104. MTCU DOES NOT HAVE A CONFLICT OF INTEREST POLICY. FORM 990, PART X, COLUMN (A), LINES 5 & 7: IN 2022, MTCU DETERMINED THAT IT WAS MORE APPROPRIATE TO INCLUDE IN COLUMN (B) (END OF YEAR) FOR LINE 5 (LOANS AND OTHER RECEIVABLES FROM ANY CURRENT OR FORMER OFFICER) CERTAIN ITEMS INCLUDED IN PRIOR YEAR FORMS 990 IN LINE 7 (NOTES AND LOANS RECEIVABLE, NET), RESPECTIVELY. CONFORMING ADJUSTMENTS HAVE BEEN MADE TO THE 2022 BEGINNING OF YEAR AMOUNTS LISTED IN COLUMN (A) OF PART X.