2023-11-02T12:52:15-05:00 2022-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2022-01-01 741109889 FIVEPOINT CREDIT UNION FIVE 4097268300 PO BOX 1366 NEDERLAND TX 776271366 KENNETH MILLER EXECUTIVE VICE PRESIDENT 4097268200 2023-11-01 1 KENNETH MILLER 999009999 0 JOHN J MURNANE JR P03021572 2482443000 2023-11-01 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ERIK SHAW PO BOX 1366 NEDERLAND TX 77627 49433751 0 X WWW.FIVEPOINTCU.ORG X 1935 TX TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERSHIP WITH VARIOUS LOAN AND DEPOSIT PRODUCTS. 11 11 256 14 15562 0 0 0 44163022 46755776 1660645 2662413 67635 15562 45891302 49433751 218044 238670 0 0 18499609 19847000 0 0 0 21348351 24402839 40066004 44488509 5825298 4945242 833470409 874862124 751155135 800708884 82315274 74153240 TO IMPROVE THE QUALITY OF LIFE FOR OUR MEMBERS AND THE COMMUNITY. 0 0 INTEREST INCURRED ON MEMBER DEPOSITS APPROXIMATED $4,122,000 DURING THE YEAR ENDED DECEMBER 31, 2022. ATM SERVICES PROVIDED TO THE MEMBERSHIP REPRESENTED APPROXIMATELY $2,082,000 OF TOTAL EXPENSES INCURRED DURING THE YEAR ENDED DECEMBER 31, 2022. HOME BANKING PROVIDED TO THE MEMBERSHIP REPRESENTED A COST OF APPROXIMATELY $1,437,000 INCURRED DURING THE YEAR ENDED DECEMBER 31, 2022. 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 1 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 14504 0 1 256 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 0 1 0 1 1 1 1 1 0 X HELEN PUCKETT 4097268212 PO BOX 1366 NEDERLAND TX 77627 GLENN JOHNSON CHAIRPERSON 1.00 X 0 0 0 JAMES SAXON SECRETARY TREASURER 1.00 X 0 0 0 JOE DICKSON FIRST VICE CHAIRPERSON 1.00 X 0 0 0 JOHN COMEAUX SECOND VICE CHAIRPERSON 1.00 X 0 0 0 LOUIS ANSELMO BOARD MEMBER 0.50 X 0 0 0 HILTON FERGUSON JR BOARD MEMBER 0.50 X 0 0 0 KAROL RUSSELL BOARD MEMBER 0.50 X 0 0 0 JACK THORNTON BOARD MEMBER 0.50 X 0 0 0 DENNY WINTER BOARD MEMBER 0.50 X 0 0 0 ERIK SHAW CEO/PRESIDENT 40.00 X 507305 0 36881 KENNETH MILLER EXECUTIVE VICE PRESIDENT 40.00 X 360107 0 37334 VICKI O'DELL SVP, HUMAN RESOURCES 40.00 X 886220 0 28300 KRISTEN BELLANGER SVP, OPERATIONS 40.00 X 446667 0 29785 JENNIFER WEBB SVP, LENDING 40.00 X 454077 0 22048 AMANDA WHITE VP OF HUMAN RESOURCES 40.00 X 208215 0 16708 MATTHEW BOREL FINANCIAL ADVISOR 40.00 X 211627 0 32847 CHRISTIE DOWNS VP LENDING 40.00 X 187323 0 10622 MARLA RUCKER VP IT 40.00 X 170787 0 30394 WENDI CHRISTIAN VP ACCOUNTING 40.00 X 186756 0 27000 CHASIDY BOHANAN VP OPERATIONS 40.00 X 177235 0 10727 AIMEE SLOTT VP BUSINESS LENDING 40.00 X 152901 0 13401 KAREN BLUM VP MARKETING 40.00 X 143715 0 31398 JEREMY MARTINKA AVP IT 40.00 X 132325 0 18347 TONI ROMANO AVP LENDING 40.00 X 126778 0 5163 JARED BYRD BUSINESS ANALYTICS 40.00 X 126383 0 13637 HELEN PUCKETT AVP ACCOUNTING 40.00 X 125978 0 10773 4604399 0 375365 28 0 1 0 PSCU INCORPORATED 560 CARILLON PLWY ST PETERSBURG FL 33716 DEBIT/CREDIT CARD PROCESSOR 2905186 CONSTRUCTION ZONE OF SETX PO BOX 192 AUBREY TX 76227 CONSTRUCTION 2673218 NCR CORPORATION 5601 LINDERO CANYON ROAD SUITE 100 WESTLAKE VILLAGE CA 91362 ONLINE BANKING SERVICES 1458778 ANN LEE AND ASSOCIATES LTD 1555 DUSTIN CADE DR NEW BRAUNFELS TX 78130 MARKETING FIRM 1123633 BANK TEC-SOUTH 4150 VIKING DR BOSSIER CITY LA 71111 ATM/ITM SERVICING 970635 25 LOAN RECEIVABLE 522100 30035581 30035581 FEES, CHARGES, OTHER 522100 16720195 16720195 46755776 2662413 2662413 FINANCE & INSURANCE 520000 15562 15562 15562 49433751 46755776 15562 2662413 X 222670 16000 4245267 10746263 622006 3151729 1081735 214851 148923 380026 2064475 1496346 3566345 1638826 125945 3557 4140153 123813 3313725 317417 ATM EXPENSE 2112100 PROVISION FOR LOAN LOSS 1516434 LOAN SERVICING 1246697 MAINTENANCE AND REPAIRS 1052145 941061 44488509 13104831 12977758 78153808 43896530 483651 2112145 8370209 8235073 569489814 649219708 1477080 1170424 52352740 25176454 25507037 27176286 111238736 98303496 1000491 918533 152478 132148 24492274 30720023 833470409 874862124 11079191 12331018 740075944 788377866 751155135 800708884 X 0 0 0 0 82315274 74153240 82315274 74153240 833470409 874862124 4945242 -13107276 0 X X 0 1 X 1 0 1631458 1631458 31179317 10454679 20724638 2991426 1830129 1161297 16550539 12891646 3658893 27176286 MEMBERS SHARE ACCOUNTS 788377866 788377866 X 49433751 0 49433751 0 49433751 44488509 0 44488509 0 44488509 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE (INTERNAL REVENUE CODE SECTION 501(C)(14)), FROM FEDERAL INCOME TAX. 1 AMERICAN CANCER SOCIETY 1222 BOSTON AVE NEDERLAND TX 77627 741185665 501(C)(3) 211505 0 CHARITABLE DONATION AMERICAN HEART ASSOCIATION SOUTHWEST AFFILIATE PO BOX 4002903 DES MOINES IA 50340 135613797 501(C)(3) 6165 0 CHARITABLE DONATION 2 SCHOLARSHIPS 21 16000 PART I, LINE 2: THE SCHOLARSHIPS ARE AWARDED BASED ON A PANEL OF JUDGES REVIEWING SCHOLARSHIP APPLICATIONS AND ESSAYS. ONCE THE CREDIT UNION RECEIVES CONFIRMATION OF THE STUDENT'S ENROLLMENT AND PAYMENT OF TUITION, THE FUNDS ARE DEPOSITED TO THEIR SAVINGS ACCOUNT. X X 1 1 X X X 0 1 0 VICKI O'DELL SVP, HUMAN RESOURCES 226729 0 58578 0 600913 0 27000 0 1300 0 914520 0 0 0 ERIK SHAW CEO/PRESIDENT 397451 0 102948 0 6906 0 12650 0 24231 0 544186 0 0 0 KRISTEN BELLANGER SVP, OPERATIONS 235397 0 60936 0 150334 0 20500 0 9285 0 476452 0 0 0 JENNIFER WEBB SVP, LENDING 242807 0 60936 0 150334 0 20500 0 1548 0 476125 0 0 0 KENNETH MILLER EXECUTIVE VICE PRESIDENT 283299 0 74963 0 1845 0 22179 0 15155 0 397441 0 0 0 MATTHEW BOREL FINANCIAL ADVISOR 210985 0 477 0 165 0 18563 0 14284 0 244474 0 0 0 AMANDA WHITE VP OF HUMAN RESOURCES 174325 0 33735 0 155 0 10813 0 5895 0 224923 0 0 0 WENDI CHRISTIAN VP ACCOUNTING 146330 0 34250 0 6176 0 27000 0 0 0 213756 0 0 0 MARLA RUCKER VP IT 135290 0 34960 0 537 0 12273 0 18121 0 201181 0 0 0 CHRISTIE DOWNS VP LENDING 152758 0 34443 0 122 0 9248 0 1374 0 197945 0 0 0 CHASIDY BOHANAN VP OPERATIONS 143296 0 33830 0 109 0 4486 0 6241 0 187962 0 0 0 KAREN BLUM VP MARKETING 116188 0 27171 0 356 0 27000 0 4398 0 175113 0 0 0 AIMEE SLOTT VP BUSINESS LENDING 122998 0 29764 0 139 0 10104 0 3297 0 166302 0 0 0 JEREMY MARTINKA AVP IT 106676 0 25534 0 115 0 11366 0 6981 0 150672 0 0 0 PART I, LINE 4B THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE CEO, ERIK SHAW AND THE EVP, KENNETH MILLER, THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. THE CREDIT UNION HAS ENTERED INTO A RETENTION PAYMENT PLAN. EXECUTIVES COVERED UNDER THESE POLICIES HAVE AGREED TO RETENTION PAYMENT PLANS. THE PLAN IS A NON-QUALIFIED DEFERRED COMPENSATION PLAN SUBJECT TO CLIFF VESTING AND IS INTENDED TO QUALIFY UNDER SECTION 457(F). THE FOLLOWING PARTICIPANTS RECEIVED BENEFIT PAYOUTS DURING 2022: VICKI KELLEY: $600,000 KRISTEN BELLANGER: $150,000 JENNIFER WEBB: $150,000 WENDI CHRISTIAN: $5,900 THE BENEFIT LIABILITY RECORDED IN THE FINANCIAL STATEMENTS FOR EACH OF THE REMAINING PARTICIPANTS AS OF DECEMBER 31, 2022, IS AS FOLLOWS: KRISTEN BELLANGER: $201,029 JENNIFER WEBB: $263,744 ERIK SHAW PRESIDENT/CEO TO FUND LIFE INSURANCE POLICY X 4500000 4870143 0 1 1 KENNETH MILLER EXECUTIVE VP TO FUND LIFE INSURANCE POLICY X 3200000 3364930 0 1 1 8235073 FORM 990, SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANTS NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART VI, SECTION A, LINE 6 EVERY CLIENT THAT HAS AN ACCOUNT WITH OUR CREDIT UNION IS ALSO A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A OUR BOARD OF DIRECTORS ARE ELECTED BY A VOTE OF THE MEMBERSHIP. ANNUALLY, IF THERE IS AN OPEN POSITION, THE NOMINATING COMMITTEE WILL PUT FORTH THE CANDIDATES WHICH OUR MEMBERS CAN VOTE ON DURING THE ANNUAL MEETING. 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 FORM 990 IS REVIEWED BY ERIK SHAW, CEO, KENNETH MILLER, EVP, AND VICKI KELLEY, SVP OF HUMAN RESOURCES FOR ITS ACCURACY. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE TRAINING IS PERFORMED ANNUALLY. EACH EMPLOYEE / OFFICER SIGNS OFF THEY HAVE REVIEWED AND UNDERSTAND THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 FIVEPOINT UTILIZES A 3RD PARTY TO PROVIDE INDUSTRY STANDARD AND REGIONAL SPECIFIC SALARY RANGES FOR ALL STAFF. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 24E DEBIT/CREDIT EXPENSES 350,392. MISCELLANEOUS 341,961. TRAINING/DEVELOPMENT/EDUCATION 232,095. LOSS ON REPOS/OTHER 16,613. FORM 990, PART XII, LINE 2C: A COMMITTEE EXISTS THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF THE ANNUAL FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FIVEPOINT FINANCIAL SERVICES LLC PO BOX 1366 NEDERLAND TX 77627 464687469 FINANCIAL SERVICES (INACTIVE) TX 0 0 FIVEPOINT CREDIT UNION FIVEPOINT INSURANCE AGENCY LLC PO BOX 1366 NEDERLAND TX 77627 611739967 INSURANCE (INACTIVE) TX 0 0 FIVEPOINT FINANCIAL SERVICES LLC