2023-11-06T13:59:42-07:00 2022-12-31 440160260 FORVIS LLP 201 N Illinois Street Indianapolis IN 46204 990 2022-01-01 350779057 FORUM CREDIT UNION FORU 3175586000 PO BOX 50738 INDIANAPOLIS IN 46250 Jeffry Welch Chief Financial Officer 3175586216 2023-11-06 1 1 Michael Summers P00838533 3173833663 2023-11-06 1 11 1 AAL2 X 2022 2023-04-26 12:10:37Z DOUGLAS TRUE PO BOX 50738 INDIANAPOLIS IN 46250 111447206 0 X WWW.FORUMCU.COM X 1941 IN FORUM CREDIT UNION'S MISSION IS TO BE AN INNOVATIVE, DYNAMIC, RESPONSIVE FINANCIAL SERVICES ORGANIZATION THAT PROVIDES PRODUCTS AND SERVICES THAT CREATE VALUE FOR ITS MEMBERS. 9 6 459 12 2001507 649092 0 0 89438617 90365155 1468051 3040581 2222387 2163374 93129055 95569110 150000 165000 0 0 32331958 34052830 0 0 0 35748853 39968925 68230811 74186755 24898244 21382355 1879317913 1997992008 1677970043 1775840505 201347870 222151503 FORUM IS A 501(C)(14) EXEMPT ORGANIZATION THAT IS OPERATED FOR MUTUAL PURPOSES AND WITHOUT PROFIT THAT 1)PROMOTES THRIFT AMONG MEMBERS AND 2)PROVIDES LOW COST CREDIT FOR MEMBERS. ITS COLLECTIVE CHARGE IS TO BE AN INNOVATIVE, DYNAMIC, AND RESPONSIVE FINANCIAL SERVICES ORGANIZATION PROVIDING PRODUCTS AND SERVICES THAT CREATE VALUE FOR ITS MEMBERS. 0 0 PROVIDING LOW COST CREDIT FOR MEMBERS IS THE BASIC FUNCTION OF A CREDIT UNION. THE COOPERATIVE NATURE OF THE CREDIT UNION ALLOWS FOR MARKET LENDING RATES TO BE OFFERED FOR MORTGAGE LOANS, HOME EQUITY LOANS AND PERSONAL LOANS. IN ADDITION, FORUM WORKS CLOSELY WITH THE FHA AND OTHER HOME OWNERSHIP ORGANIZATIONS TO HELP CONSUMERS REALIZE THE DREAM OF OWNING A HOME. FORUM ORIGINATED OVER $1 BILLION IN LOANS THIS YEAR IN ITS EFFORTS TO MEET THE MEMBERS' LENDING NEEDS. TO PROMOTE THRIFT AND RESPONSIBLE USE OF CREDIT WITHIN THE MEMBERSHIP, FORUM PROVIDES SEVERAL FINANCIAL EDUCATION OPPORTUNITIES INCLUDING FINANCIAL LITERACY CONTENT ON THE WEBSITE, FINANCIAL LITERACY VIDEOS, FINANCIAL SEMINARS, ONLINE BUDGETING TOOLS, IN BRANCH ACTIVITIES AND PROMOTIONS GEARED TO FINANCIAL EDUCATION. IN ADDITION, FORUM PROVIDES A VARIETY OF INNOVATIVE SAVINGS ACCOUNTS DESIGNED TO ENCOURAGE SYSTEMATIC SAVINGS WHICH HAS GENERATED OVER $26 MILLION IN PERSONAL SAVINGS. FORUM PROVIDES LENDING AND DEPOSITORY SERVICES FOR SMALL BUSINESS OWNERS. FORUM OFFERS SEVERAL TYPES OF COMMERCIAL LOANS INCLUDING SEVERAL OF THE SMALL BUSINESS ADMINISTRATION (SBA) LOANS TO HELP SMALL BUSINESS OWNERS GROW THEIR BUSINESSES. FORUM CURRENTLY WORKS WITH OVER 4,500 SMALL BUSINESS OWNERS PROVIDING A VARIETY OF PRODUCTS AND SERVICES. 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 0 0 0 0 1 1 1 1 0 1 117306 0 1 459 1 1 1 0 0 0 0 0 0 0 X 9 6 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 0 0 IN X JULIA CLARK 3175586216 PO BOX 50738 INDIANAPOLIS IN 46250 JEFFRY WELCH CHIEF FINANCIAL OFFICER 40 1 X 984532 0 34612 DOUGLAS TRUE CHIEF EXECUTIVE OFFICER 40 1 X 633726 0 66539 BENJAMEN BANKS FINANCIAL ADVISOR- PCG 40 0 X 386336 0 62902 CHARLES ANDREW MATTINGLY CHIEF OPERATING OFFICER 40 1 X 314567 0 58259 JENNIFER BUDREAU CHIEF OPERATING OFFICER 40 1 X 326329 0 45162 CAMERON PIERCEFIELD CHIEF TECHNOLOGY AND RISK OFFICER 40 1 X 323818 0 38633 MICHELLE ADRIAN MORTGAGE ORIGINATOR 40 X 332738 0 27968 TAMMY MARRS FINANCIAL ADVISOR 40 X 280350 0 54306 JIM CARR SENIOR VICE PRESIDENT - COMMERCIAL & INVESTMENT SERVICES 40 X 279722 0 46137 ANDREW SPIRRISON SENIOR VICE PRESIDENT - MEMBER EXPERIENCE 40 X 227782 0 59247 RICK RAMBO TREASURER 5 1 X X 1563 0 0 CHRIS HAGENOW SECRETARY 5 X X 1480 0 0 KELLY WILSON DIRECTOR 5 1 X 1092 0 0 JOHN GALLINA DIRECTOR 5 X 848 0 0 KEVIN HUNT CHAIRMAN 5 X X 834 0 0 LORI WINKLER DIRECTOR 5 X 747 0 0 TRACY MILLS VICE CHAIRMAN 5 X X 0 0 0 JODEE CURTIS DIRECTOR 5 X 0 0 0 DONNA WILKINSON DIRECTOR 5 X 0 0 0 4096464 0 493765 56 0 1 0 Fiserv Inc PO BOX 934057 Atlanta GA 31193 Software 1700266 Optiv Security Inc 1144 15th Street Suite 2900 Denver CO 80202 Software Security 479210 CDW LLC 300N Milwaukee Ave Vernon Hills IL 60081 Computer accessories and maintenance 473903 Shiel Sexton 902 N Captiol Ave Indianapolis IN 46204 Construction Services 451181 APPRAISERVENDOR 3195 Fairview Rd Suite A Greenwood IN 46142 Mortgage Appraisals 413090 46 0 INTEREST AND FEES ON LOANS 522130 70149649 70149649 0 0 SERVICE FEE ON SHARE ACCOUNTS 522130 4377726 4291046 86680 0 DEBIT CARD AND CREDIT CARD FEES 522130 9909403 9909403 0 0 MORTGAGE BANKING 522130 4703901 4703901 0 0 INSURANCE 522130 1224476 1178934 45542 0 0 0 0 0 90365155 2329170 0 0 2329170 0 0 0 0 0 0 0 0 530714 0 413573 0 117141 0 117141 0 -189438 306579 16099000 76934 15367320 97203 731680 -20269 711411 711411 0 0 INVESTMENT ADVISORY SERVICES 523930 2035035 0 2035035 0 OTHER REVENUE 522130 11198 -12490 23688 0 0 0 0 0 2046233 95569110 90931854 2001507 2635749 165000 0 0 2834793 24692215 1093478 3461627 1970717 79871 182755 2533938 1156482 3978960 3606649 38217 554723 9236277 3362052 293543 PROVISION FOR LOAN LOSS 4266436 COLLECTIONS AND LOAN EXPENSES 7527495 CORRESPONDENT SERVICE EXPENSE 492760 INCOME TAX 950237 1708530 74186755 0 0 0 6761149 7033264 298308439 107265083 1465660683 1776964824 77728368 45261841 32830799 32466527 36920881 27243587 7761200 9317900 0 0 31074762 37700823 1879317913 1997992008 20107776 25677936 85000000 125000000 1572862267 1625162569 1677970043 1775840505 X 0 0 0 0 201347870 222151503 201347870 222151503 1879317913 1997992008 X 21382355 -578722 0 0 0 0 X 0 1 X 1 0 7364 0 0 7364 7364 1 INDIANA CREDIT UNION LEAGUE PAC PO BOX 50425 INDIANAPOLIS IN 46250 237305600 5000 0 INDIANA BUSINESS FOR RESPONSIVE GOVERNMENT 115 W WASHINGTON ST STE 850 INDIANAPOLIS IN 46204 351789566 1250 0 INDIANA CHAMBER OF COMMERCE 115 W WASHINGTON ST INDIANAPOLIS IN 46204 350411610 551 0 INDIANAPOLIS CHAMBER OF COMMERCE 111 MONUMENT CIRCLE STE 1950 INDIANAPOLIS IN 46204 352106949 563 0 Schedule C, Part I-A, Line 1 FORUM CREDIT UNION CONTRIBUTED $5,000 TO THE INDIANA CREDIT UNION LEAGUE POLITICAL ACTION COMMITTEE; $1,250 TO THE INDIANA BUSINESS FOR RESPONSIVE GOVERNMENT; $551 TO THE INDIANA CHAMBER OF COMMERCE PAC AND $563 TO THE INDIANAPOLIS CHAMBER OF COMMERCE. 7426758 0 7426758 39670616 0 22186169 17484447 3163264 0 2366791 796473 27467730 0 20708881 6758849 0 0 0 0 32466527 MEMBER SHARE ACCOUNTS 1562285267 NON-MEMBER DEPOSITS 62877302 1625162569 Schedule D, Part X, Line 1 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITION UNDER GUIDANCE INCLUDED IN ASC740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. 1 FORUM CREDIT UNION FOUNDATION INC 11313 USA PARKWAY FISHERS IN 46037 463086648 501(C)(3) 165000 0 SCHOLARSHIP AND TEACHER GRANTS 1 0 Schedule I, Part I, Line 2 FORUM CREDIT UNION DONATES TO ITS RELATED ORGANIZATION, FORUM CREDIT UNION FOUNDATION, INC. THE FOUNDATION'S BOARD IS CONTROLLED BY THE FILING ORGANIZATION AND MAKES GRANTS AND SCHOLARSHIP DECISIONS. X 1 1 X X X 0 1 0 DOUGLAS TRUE CHIEF EXECUTIVE OFFICER 459242 0 170271 0 4212 0 34225 0 32315 0 700265 0 0 0 CHARLES ANDREW MATTINGLY CHIEF OPERATING OFFICER 260298 0 50000 0 4269 0 26635 0 31624 0 372826 0 0 0 MICHELLE ADRIAN MORTGAGE ORIGINATOR 332738 0 0 0 0 0 26383 0 1585 0 360706 0 0 0 BENJAMEN BANKS FINANCIAL ADVISOR- PCG 386336 0 0 0 0 0 33835 0 29067 0 449238 0 0 JEFFRY WELCH CHIEF FINANCIAL OFFICER 306043 0 50000 0 628488 0 9726 0 24887 0 1019144 0 0 0 JENNIFER BUDREAU CHIEF OPERATING OFFICER 270628 0 50000 0 5700 0 30166 0 14997 0 371491 0 0 0 CAMERON PIERCEFIELD CHIEF TECHNOLOGY AND RISK OFFICER 270950 0 50000 0 2868 0 25425 0 13208 0 362451 0 0 0 TAMMY MARRS FINANCIAL ADVISOR 280350 0 0 0 0 0 25080 0 29226 0 334656 0 0 0 ANDREW SPIRRISON SENIOR VICE PRESIDENT - MEMBER EXPERIENCE 224622 0 0 0 3160 0 29093 0 30154 0 287029 0 0 0 JIM CARR SENIOR VICE PRESIDENT - COMMERCIAL & INVESTMENT SERVICES 275339 0 0 0 4382 0 14779 0 31359 0 325859 0 0 0 Schedule J, Part I, Line 1a KEVIN HUNT, CHAIRMAN; RICK RAMBO, TREASURER; CHRIS HAGENOW, SECRETARY; JOHN GALLINA,DIRCTOR; LORI WINKLER, DIRECTOR AND KELLY WILSON, DIRECTOR RECEIVED A BENEFIT FOR TRAVEL FOR COMPANIONS. THE APPROPRIATE TAX FORMS WERE FILED BASED ON THE APPROPRIATE THRESHOLDS. Schedule J, Part I, Line 4 JEFFRY WELCH PARTICIPATES IN A SEPARATE 457(F) DEFERRED COMPENSATION PLAN. THE ORGANIZATION MADE $0 CONTRIBUTIONS TO THE PLAN. THERE WAS A $624,000 DISTRIBUTION TO JEFFRY WELCH DURING THE YEAR. THIS AMOUNT WAS INCLUDED IN HIS OTHER REPORTABLE COMPENSATION ON SCHEDULE J, PART II, AND INCLUDED ON HIS W-2. THIS PAYMENT WAS THE FINAL PAYMENT UNDER THE PLAN. KATHLEEN PIERCEFIELD SPOUSE OF KEY EMPLOYEE 101972 COMPENSATION OF EMPLOYEE 0 SHIEL SEXTON COMPANY INC KEVIN HUNT - CHAIRMAN 451181 GENERAL CONSTRUCTION 0 SOFTWARE ENGINEERING PROFESSIONALS KELLY WILSON-DIRECTOR 110730 TECHNOLOGY SERVICES 0 PACERS SPORTS & ENTERTAINMENT DONNA WILKINSON-DIRECTOR 101388 ADVERTISING 0 Schedule L, Part IV THE INDVIDUAL BOARD MEMBERS LISTED HERE WERE NOT INVOLVED IN FORUM CREDIT UNION'S DISCUSSIONS AND WERE NOT ELIGIBLE TO VOTE ON THE DECISION TO USE THEIR COMPANY. Form 990, Part VI, Section A, Line 6 THERE IS ONE CLASS OF MEMBERS. MEMBERS HAVE THE RIGHT TO ELECT THE BOARD AND SUPERVISORY COMMITTEE AT THE ANNUAL MEMBERSHIP MEETING. Form 990, Part VI, Section A, Line 7a EACH MEMBER OWNS ONE SHARE AND CAN ONLY VOTE ONCE. MEMBERS HAVE THE OPPORTUNITY TO VOTE AT THE ANNUAL MEETING ON NOMINEES FOR THE BOARD POSITIONS SELECTED BY THE NOMINATING COMMITTEE. THE BOARD APPOINTS FROM WITHIN ITSELF MEMBERS OF THE NOMINATING COMMITTEE. SHOULD A BOARD POSITION HAVE MORE THAN ONE CANDIDATE, A BALLOT WOULD BE MAILED 60 DAYS PRIOR TO THE ANNUAL MEETING TO ALL VOTING MEMBERS. THE BALLOT MUST BE RETURNED FIVE DAYS PRIOR TO THE ANNUAL MEETING. ALL BALLOTS WOULD BE VERIFIED AND TALLIED. THE RESULTS OF THE BALLOTS WOULD BE ANNOUNCED AT THE ANNUAL MEETING. Form 990, Part VI, Section B, Line 11b THE FORM 990 IS PREPARED INTERNALLY AND REVIEWED BY AN INDEPENDENT TAX RETURN PREPARER PRIOR TO FILING THE RETURN. SENIOR MANAGEMENT AND THE TREASURER CONDUCTS AN INITIAL REVIEW OF THE FORM 990 AND THEN THE BOARD TREASURER PROVIDES COPIES OF THE RETURN TO THE BOARD AND RESPONDS TO ANY QUESTIONS THAT ARISE. Form 990, Part VI, Section B, Line 12c BOARD MEMBERS, OFFICERS AND KEY EMPLOYEES REVIEW THE CONFLICT OF INTEREST POLICY ANNUALLY TO DISCLOSE POTENTIAL CONFLICTS. BOARD MEMBERS DO NOT PARTICIPATE IN VOTING MATTERS WHERE CONFLICTS OF INTEREST EXIST. THE BOARD CHAIRMAN ENSURES THIS PRACTICE IS UPHELD. LIKEWISE, OFFICERS AND KEY EMPLOYEES WITH CONFLICTS OF INTEREST SHALL DISCLOSE THE MATTER TO THE CEO AND CHAIRMAN OF THE BOARD OF DIRECTORS. THE INDIVIDUAL SHALL MAKE NO DECISIONS OR TAKE ANY ACTIONS WITH RESPECT TO THE MATTER UNLESS AUTHORIZED BY THE CEO AND/OR BOARD OR DIRECTORS. THE OFFICER, DIRECTOR OR KEY EMPLOYEE MAY BE ASKED TO RESIGN OR END THE CONFLICT. Form 990, Part VI, Section B, Line 15 THE COMPENSATION COMMITTEE AND THE BOARD REVIEW THE CEO'S SALARY AND BENEFITS ANNUALLY. THEN APPROXIMATELY EVERY TWO YEARS THE COMMITTEE USES COMPENSATION SURVEYS WITH CRITERIA ON SIMILAR SIZE ORGANIZATIONS IN ITS DECISION MAKING PROCESS. ALL DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION AND BENEFITS ARE INCLUDED IN THE COMMITTEE MINUTES. THE LAST SURVEY WAS PERFORMED IN 2022. Form 990, Part VI, Section C, Line 19 GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE NOT REQUIRED DISCLOSURES PURSUANT TO INTERNAL REVENUE CODE SECTION 6104. THESE DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC AT THIS TIME. THE FORM 990 WHICH INCLUDES THE FINANCIAL STATEMENTS IS MADE AVAILABLE UPON REQUEST. Form 990, Part XI, Line 5 CHANGE IN CASH SURRENDER VALUE IS $155,752 AND CHANG IN UNREALIZED (LOSS)/GAIN ON AVAILABLE FOR SALE SECURITIES IS ($734,477) FORUM PRIVATE CLIENT GROUP LLC PO BOX 50738 INDIANAPOLIS IN 46250 208174999 INVESTMENT MGMT & INSURANCE REFERRAL IN 2058815 617459 FORUM CREDIT UNION FORUM CREDIT UNION FOUNDATION INC 11313 USA PARKWAY FISHERS IN 46037 463086648 EDUCATIONAL GRANTS AND SCHOLARSHIPS IN 501(C)(3) PRIVATE FOUNDATION FORUM CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 FORUM CREDIT UNION FOUNDATION INC b 165000 CASH POSITION OF FORUM CREDIT UNION FORUM CREDIT UNION FOUNDATION INC n 8248 CASH POSITION OF FORUM CREDIT UNION FORUM CREDIT UNION FOUNDATION INC o 8248 CASH POSITION OF FORUM CREDIT UNION FORUM CREDIT UNION FOUNDATION INC q 8248 CASH POSITION OF FORUM CREDIT UNION