Transcend Credit Union: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- Transcend Credit Union (EIN 61-0360420)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-11-14
- IRS object ID
- 202303189349310295
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-11-14T13:53:23+00:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 350921680 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CROWE LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9600 Brownsboro Road Suite 400 | AddressLine1Txt |
| City | Louisville | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 402413902 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 610360420 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Transcend Credit Union | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | TRAN | BusinessNameControlTxt |
| Phone | 5024593000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3740 Bardstown Road | AddressLine1Txt |
| City | Louisville | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40218 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | VICKIE SHELLENBERG | PersonNm |
| Person Title | EXECUTIVE VICE PRESIDENT | PersonTitleTxt |
| Phone | 5024593000 | PhoneNum |
| Signature | 2023-11-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | Vickie | PersonFirstNm |
| Person Last | Shellenberg | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | KIM SCIFRES | PreparerPersonNm |
| PTIN | P01316095 | PTIN |
| Phone | 5023263996 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
Principal Ofcr Business Name PrincipalOfcrBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Vickie Shellenberg | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3740 Bardstown Road | AddressLine1Txt |
| City | Louisville | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40218 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $20,976,948 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.transcendcu.com | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1934 | FormationYr |
| Legal Domicile State | KY | LegalDomicileStateCd |
| Activity Or Mission | THE PURPOSE OF THIS CREDIT UNION SHALL BE TO PROMOTE THRIFT AND TO PROVIDE CREDIT TO ITS MEMBERS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 79 | TotalEmployeeCnt |
| Total Volunteers | 15 | TotalVolunteersCnt |
| Total Gross UBI | $123,173 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $41,049 | NetUnrelatedBusTxblIncmAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $17,768,861 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $18,543,141 | CYProgramServiceRevenueAmt |
| PY Investment Income | $941,204 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,006,746 | CYInvestmentIncomeAmt |
| PY Other Revenue | $193,302 | PYOtherRevenueAmt |
| CY Other Revenue | $260,424 | CYOtherRevenueAmt |
| PY Total Revenue | $18,903,367 | PYTotalRevenueAmt |
| CY Total Revenue | $19,810,311 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $3,000 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $7,396,601 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $7,537,395 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $8,855,078 | PYOtherExpensesAmt |
| CY Other Expenses | $9,237,904 | CYOtherExpensesAmt |
| PY Total Expenses | $16,251,679 | PYTotalExpensesAmt |
| CY Total Expenses | $16,778,299 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,651,688 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $3,032,012 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $487,024,180 | TotalAssetsBOYAmt |
| Total Assets EOY | $510,121,049 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $428,490,495 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $450,892,277 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $58,533,685 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $59,228,772 | NetAssetsOrFundBalancesEOYAmt |
| Mission | THE PURPOSE OF THIS CREDIT UNION SHALL BE TO PROMOTE THRIFT AND TO PROVIDE CREDIT FOR ITS MEMBERS. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | TRANSCEND CREDIT UNION (THE "CREDIT UNION") IS A STATE CHARTERED COOPERATIVE ASSOCIATION ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AMONG AND CREATING A SOURCE OF CREDIT FOR ITS MEMBERS. THE CREDIT UNION PROVIDES MORTGAGE, VEHICLE AND OTHER CONSUMER LOANS TO ITS MEMBERS. THE CREDIT UNION ALSO OFFERS A VARIETY OF ACCOUNTS FOR MEMBERS TO TRANSACT AND SAVE, INCLUDING SHARE DRAFT ACCOUNTS AND SHARE CERTIFICATES. AS A MEMBER-OWNED ORGANIZATION, THE CREDIT UNION STRIVES TO PROVIDE COMPETITIVE INTEREST AND DIVIDEND RATES TO ITS MEMBERS AND CONVENIENT WAYS FOR MEMBERS TO ACCESS THEIR ACCOUNTS, INCLUDING ONLINE AND MOBILE BANKING AND SHARED BRANCHING SERVICES. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | THE CREDIT UNION OFFERS CREDIT LIFE AND DISABILITY INSURANCE TO ITS MEMBERS WHEN THEY FINANCE A VEHICLE OR OPEN A CREDIT CARD. THIS INSURANCE WOULD PAY OFF THE LOAN IN THE CASE OF A DEATH OR DISABILITY. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | THE CREDIT UNION OFFERS AUTO WARRANTIES AT FAIR PRICES TO ITS MEMBERS. THESE WARRANTIES ARE COMPREHENSIVE AND HELP WITH THE COSTS OF REPAIR OF THE VEHICLE. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $0 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 5621 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 79 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (true) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | Yes (true) | LocalChaptersInd |
| Policies Reference Chapters | Yes (true) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Vickie Shellenberg | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5024549240 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3740 Bardstown Road | AddressLine1Txt |
| City | Louisville | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40218 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| JACKIE WHITE | |||||||
| SECRETARY | 1.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| MARK BOOKER | |||||||
| CHAIR | 1.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| RICHARD DOWDELL | |||||||
| VICE CHAIR | 1.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| SHERYL DISTLER | |||||||
| TREASURER | 1.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| CINDY HALL | |||||||
| BOARD MEMBER | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| CORA BROWN | |||||||
| BOARD MEMBER | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| DOUG O'CONNELL | |||||||
| BOARD MEMBER | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| KEVIN ROBERTS | |||||||
| BOARD MEMBER | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| VANESSA HAULK | |||||||
| BOARD MEMBER | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| BRANDEN BLEDSOE | |||||||
| SVP/Operations | 40.0 | Yes (X) | $224,904 | $0 | $42,193 | ||
| DONNA WORKMAN | |||||||
| SVP/CFO (UNTIL MARCH 2022) | 40.0 | Yes (X) | $153,919 | $0 | $7,192 | ||
| MATTHEW LANCASTER | |||||||
| VP/FINANCE AND CONTROLLER | 40.0 | Yes (X) | $138,883 | $0 | $28,262 | ||
| RICHARD REESE | |||||||
| PRESIDENT/CEO | 40.0 | Yes (X) | $1,766,719 | $0 | $534,018 | ||
| VICKIE SHELLENBERG | |||||||
| EXECUTIVE VICE PRESIDENT | 40.0 | Yes (X) | $377,358 | $0 | $89,018 | ||
| CHARLES NEWMAN | |||||||
| DIRECTOR OF IT | 40.0 | $132,634 | $0 | $23,134 | Yes (X) | ||
| JAMES STOPHER | |||||||
| CHIEF RETAIL BANKING OFFICER | 40.0 | $138,202 | $0 | $25,637 | Yes (X) | ||
| MATTHEW HOLBROOK | |||||||
| CHIEF LENDING OFFICER | 40.0 | $169,350 | $0 | $26,979 | Yes (X) | ||
| PAULA JACKSON | |||||||
| DIRECTOR OF HUMAN RESOURCES | 40.0 | $114,929 | $0 | $14,992 | Yes (X) | ||
| PHILLIP DYSINGER | |||||||
| CHIEF EXPERIENCE OFFICER | 40.0 | $166,233 | $0 | $36,526 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,383,131 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $827,951 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 13 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| JACK HENRY & ASSOCIATES INC | |||||
| PO BOX 609 | MONETT | MO | 65708 | SOFTWARE CORE PROCESSOR | $442,199 |
| MATRIX INTEGRATION LLC | |||||
| 417 MAIN ST | JASPER | IN | 47546 | COMPUTER NETWORK MAINTENANCE | $339,499 |
| LEVEL 3 COMMUNICATIONS | |||||
| PO BOX 910182 | DENVER | CO | 802910182 | COMMUNICATIONS SERVICE PROVIDER | $147,768 |
| MATLY DIGITAL SOLUTIONS LLC | |||||
| 3432 PRESTON HWY | LOUISVILLE | KY | 40213 | PRINT MARKETING | $115,400 |
| QSI INC | |||||
| 107 SCHULER DR | BARDSTOWN | KY | 40004 | CASH RECYCLERS & ATM | $110,221 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 7 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522291 | $11,449,939 | $11,449,939 | |
| FEES AND SERVICE CHARGES | 522130 | $3,339,118 | $3,314,433 | $24,685 |
| CREDIT CARD INCOME | 522210 | $2,812,084 | $2,812,084 | |
| INSURANCE COMMISSION REVENUE | 524298 | $797,747 | $699,259 | $98,488 |
| LOAN ORGINATION REVENUE ON SOLD LOANS | 522291 | $144,253 | $144,253 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $18,543,141 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,050,697 | TotalRevenueColumnAmt |
| Exclusion | $1,050,697 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,054,881 | SecuritiesAmt |
| Other | $67,805 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,099,637 | SecuritiesAmt |
| Other | $67,000 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$44,756 | SecuritiesAmt |
| Other | $805 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$43,951 | TotalRevenueColumnAmt |
| Exclusion | -$43,951 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER INCOME | Desc |
| Business | 522130 | BusinessCd |
| Total Revenue Column | $260,424 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $260,424 | RelatedOrExemptFuncIncomeAmt |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $260,424 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $19,810,311 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $18,680,392 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $123,173 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,006,746 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,372,075 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,686,194 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $751,106 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $351,423 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $376,597 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $32,500 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $72,678 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $157,293 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $477,079 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $441,492 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $536,117 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $818,604 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $43,048 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $35,745 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,055,777 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $611,333 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| LOAN SERVICING | $1,156,918 |
| OPERATIONAL EXPENSE | $1,029,429 |
| DEBIT CARD/ATM EXPENSE | $753,857 |
| TRAINING AND DEVELOPMENT | $16,034 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,778,299 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $52,776,433 | BOYAmt |
| EOY | $36,530,637 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,828,637 | BOYAmt |
| EOY | $15,128,000 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,901,723 | BOYAmt |
| EOY | $2,946,922 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $338,141,260 | BOYAmt |
| EOY | $363,054,907 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $433,869 | BOYAmt |
| EOY | $554,841 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $22,626,922 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $8,908,917 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,085,972 | BOYAmt |
| EOY | $13,718,005 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,625,633 | BOYAmt |
| EOY | $70,259,578 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $136,043 | BOYAmt |
| EOY | $130,577 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,094,610 | BOYAmt |
| EOY | $7,797,582 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $487,024,180 | BOYAmt |
| EOY | $510,121,049 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,511,444 | BOYAmt |
| EOY | $4,613,873 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,107,125 | BOYAmt |
| EOY | $22,534,724 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $413,871,926 | BOYAmt |
| EOY | $423,743,680 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $428,490,495 | BOYAmt |
| EOY | $450,892,277 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $58,533,685 | BOYAmt |
| EOY | $59,228,772 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $58,533,685 | BOYAmt |
| EOY | $59,228,772 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $487,024,180 | BOYAmt |
| EOY | $510,121,049 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $3,032,012 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$2,336,925 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,347,161 | OtherCostOrOtherBasisAmt |
| Book Value | $4,347,161 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,968,265 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,895,052 | DepreciationAmt |
| Book Value | $8,073,213 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $201,344 | OtherCostOrOtherBasisAmt |
| Depreciation | $70,430 | DepreciationAmt |
| Book Value | $130,914 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,110,152 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,943,435 | DepreciationAmt |
| Book Value | $1,166,717 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $13,718,005 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| MISCELLANEOUS LIABILITIES | $183,340 |
| MEMBERS SHARE AND DEPOSITS | $423,011,426 |
| LEASE LIABILITY | $548,914 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $423,743,680 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $19,380,148 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$430,163 | NetUnrealizedGainsInvstAmt |
| Other Revenue | $0 | OtherRevenueAmt |
| Revenue Not Reported | -$430,163 | RevenueNotReportedAmt |
| Revenue Subtotal | $19,810,311 | RevenueSubtotalAmt |
| Other Revenues Not Included | $0 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $19,810,311 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $16,778,299 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $0 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $16,778,299 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $0 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $16,778,299 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote | FormAndLineReferenceDesc |
| Explanation | The Credit Union is exempt from most federal, state, and local taxes under the provisions of the Internal Revenue Code and state tax laws. However, the Credit Union is subject to unrelated business income tax. The Income Taxes Topic of the FASB ASC clarifies accounting for uncertainty in income taxes reported in the financial statements. The interpretation provides criteria for assessment of individual tax positions and a process for recognition and measurement of uncertain tax positions. Tax positions are evaluated on whether they meet the "more likely than not" standard for sustainability on examination by tax authorities. Management has determined there are no material uncertain tax positions. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (true) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (9 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RICHARD REESE | ||||||||||||||
| PRESIDENT/CEO | $540,121 | $0 | $145,546 | $0 | $1,081,052 | $0 | $514,968 | $0 | $19,050 | $0 | $2,300,737 | $0 | $1,067,861 | $0 |
| BRANDEN BLEDSOE | ||||||||||||||
| SVP/Operations | $184,835 | $0 | $31,500 | $0 | $8,569 | $0 | $14,649 | $0 | $27,544 | $0 | $267,097 | $0 | $0 | $0 |
| DONNA WORKMAN | ||||||||||||||
| SVP/CFO (UNTIL MARCH 2022) | $48,910 | $0 | $0 | $0 | $105,009 | $0 | $4,431 | $0 | $2,761 | $0 | $161,111 | $0 | $0 | $0 |
| VICKIE SHELLENBERG | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $301,596 | $0 | $66,947 | $0 | $8,815 | $0 | $61,000 | $0 | $28,018 | $0 | $466,376 | $0 | $0 | $0 |
| MATTHEW LANCASTER | ||||||||||||||
| VP/FINANCE AND CONTROLLER | $129,883 | $0 | $2,700 | $0 | $6,300 | $0 | $6,796 | $0 | $21,466 | $0 | $167,145 | $0 | $0 | $0 |
| CHARLES NEWMAN | ||||||||||||||
| DIRECTOR OF IT | $123,002 | $0 | $9,489 | $0 | $143 | $0 | $9,512 | $0 | $13,622 | $0 | $155,768 | $0 | $0 | $0 |
| JAMES STOPHER | ||||||||||||||
| CHIEF RETAIL BANKING OFFICER | $116,896 | $0 | $15,173 | $0 | $6,133 | $0 | $9,800 | $0 | $15,837 | $0 | $163,839 | $0 | $0 | $0 |
| MATTHEW HOLBROOK | ||||||||||||||
| CHIEF LENDING OFFICER | $145,257 | $0 | $17,989 | $0 | $6,104 | $0 | $11,864 | $0 | $15,115 | $0 | $196,329 | $0 | $0 | $0 |
| PHILLIP DYSINGER | ||||||||||||||
| CHIEF EXPERIENCE OFFICER | $142,233 | $0 | $18,000 | $0 | $6,000 | $0 | $12,117 | $0 | $24,409 | $0 | $202,759 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule J, Part I, Line 4a Severance or change-of-control payment | DONNA WORKMAN $91,500 EMPLOYEE RETIRED |
| Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan | RICHARD REESE $453,968 IS THE SERP ACCRUAL FOR THE YEAR. $1,067,861 IS THE SERP PAYOUT FOR THE YEAR. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part IV, Line 9 CREDIT COUNSELING (FREE) | THE FILING ORGANIZATION PROVIDES FREE CREDIT COUNSELING TO ALL MEMBERS. |
| Form 990, Part VI, Line 1a Delegate broad authority to a committee | The Board may appoint an executive committee consisting of not less than three (3) directors. Subject to any limitations or conditions prescribed by the Board or otherwise set forth in KRS Chapter 286.6 and applicable laws governing nonprofit corporations, the executive committee may be authorized to act for the Board in any capacity the Board may otherwise act. The Board may authorize other committees to transact specified business on their behalf; this authority is limited to the scope and parameters set by the Board and must be clearly stated at the onset of the assignment. |
| Form 990, Part VI, Line 6 Classes of members or stockholders | The credit union shall have members. A person shall not be eligible for membership unless they satisfy the field of membership requirements set forth herein. The field of membership of this credit union is limited to: Bullitt, Henry, Jefferson,Oldham, Shelby, Spencer, Trimble, Daviess, Anderson, Franklin, Woodford, Mercer, Boyle, Lincoln, Garrard, Jessamine, Fayette, Scott, Harrison, Bourbon, Nicholas, Clark, Madison, Powell, and Estill Counties, in Kentucky. |
| Form 990, Part VI, Line 7a Members or stockholders electing members of governing body | The initial board of directors shall be selected by the subscribers to the Articles of Incorporation of the credit union and shall serve until the first annual meeting of members or until the election of their successors, whichever is later. All subsequent directors shall be elected by the members at the annual meeting. |
| Form 990, Part VI, Line 11b Review of form 990 by governing body | THE FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND REVIEWED BY THE EVP PRIOR TO PROVIDING A COPY TO THE REMAINDER OF THE BOARD. AFTER REVIEW AND DISCUSSION &/OR QUESTIONS AND CORRECTIONS, THE COMPLETE AND FINAL FORM 990 IS EFILED. |
| Form 990, Part VI, Line 12c Conflict of interest policy | THE ORGANIZATION HAS AN ANNUAL FORM TO DISCLOSE ALL CONFLICTS OF INTEREST FOR EACH BOARD MEMBER TO COMPLETE. THE ORGANIZATION ALSO HAS A FORM TO COMPLETE THROUGHOUT THE YEAR AS APPLICABLE. |
| Form 990, Part VI, Line 15a Process to establish compensation of top management official | THE COMPENSATION OF THE PRESIDENT/CEO IS DETERMINED ON AN ANNUAL BASIS. THE COMPENSATION WAS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. PRIOR TO MAKING ITS DETERMINATION, THE BOARD OF DIRECTORS OBTAINED AND RELIED UPON A STUDY CONDUCTED BY D. HILTON ASSOCIATES, INC. , WHICH IS DETERMINED TO BE APPROPRIATE DATA AS TO COMPARABILITY. THE BASIS FOR DETERMINATION WAS ADEQUATELY DOCUMENTED IN THE MINUTES. |
| Form 990, Part VI, Line 19 Required documents available to the public | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |