2023-11-15T15:09:42-06:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2022-01-01 741109927 COMMUNITY RESOURCE CREDIT UNION COMM 2814223611 3110 ROLLINGCREEK DR BAYTOWN TX 77521 RUSSELL BALLARD EXECUTIVE VP 2814223611 2023-11-15 1 RUSSELL BALLARD 999009999 0 TANYA MEDGAARDEN P01717240 5074347000 2023-11-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z RUSSELL BALLARD 3110 ROLLINGCREEK DR BAYTOWN TX 77521 47539964 0 2742 X WWW.CRCU.COM X 1935 TX TO HELP OUR MEMBERS ACHIEVE FINANCIAL WELL-BEING, THROUGH A LIFETIME PARTNERSHIP PROVIDING EXCEPTIONAL SERVICE & QUALITY PRODUCTS. 9 9 240 12 219155 29465 0 0 41399724 44849994 853724 1385735 915872 1304235 43169320 47539964 0 0 2208889 2234003 15079355 17008367 0 0 0 16316670 20060130 33604914 39302500 9564406 8237464 712967542 763924806 651371148 702381216 61596394 61543590 X TO HELP OUR MEMBERS ACHIEVE FINANCIAL WELL-BEING, THROUGH A LIFETIME PARTNERSHIP PROVIDING EXCEPTIONAL SERVICE & QUALITY PRODUCTS. 0 0 SHARE ACCOUNTS - COMMUNITY RESOURCE CREDIT UNION'S SHARE ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. THE CREDIT UNION HAD 54,941 MEMBER-OWNED ACCOUNTS ON DECEMBER 31, 2022. MEMBER SAVING ACCOUNTS PAY DIVIDENDS MONTHLY AND OFFER ACCESS THROUGH THE BRANCH NETWORK, HOME BANKING VIA THE INTERNET OR TELEPHONE, AND ATMS WORLDWIDE. CHECKING ACCOUNTS - COMMUNITY RESOURCE CREDIT UNION PROVIDES CHECKING ACCOUNTS FOR MEMBERS WITH VARIOUS FEATURES; FROM FREE ACCOUNTS TO THOSE WITH ENHANCED BENEFITS. DIVIDENDS ARE PAID MONTHLY. ADDITIONALLY, THE CREDIT UNION EXTENDS THE REACH OF THESE ACCOUNTS TO ALL MEMBERS WITH FREE DEBIT CARD AND INTERNET ACCOUNT ACCESS. MEMBER LOANS - COMMUNITY RESOURCE CREDIT UNION PROVIDES VEHICLE LOANS AND MORTGAGES. WE ALSO OFFER EXCEPTIONAL INTEREST RATES ON LOANS FOR RECREATIONAL VEHICLES, BOATS, AND MOTORCYCLES. CREDIT LIFE AND DISABILITY INSURANCE IS AVAILABLE ON ANY OF THESE LOAN TYPES. CERTIFICATE OF DEPOSIT AND MONEY MARKET ACCOUNTS - COMMUNITY RESOURCE CREDIT UNION PROVIDES CERTIFICATES OF DEPOSIT TO ALLOW OUR MEMBERS ACCESS TO INVESTING IT IN A SECURE SAVINGS SOLUTION WITH A GREAT YIELD. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 16002 0 1 240 1 1 1 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 1 0 0 1 1 1 0 1 1 1 0 X STACEY RAMIREZ 2814223611 3110 ROLLINGCREEK DRIVE BAYTOWN TX 77521 RANDALL SANDERS CHAIRPERSON 1.00 X X 0 0 0 JONNA CAGLE-PAGE VICE CHAIRPERSON 1.00 X X 0 0 0 ROY BAREFIELD BOARD SECRETARY 1.00 X X 0 0 0 WILLIAM VOLA BOARD TREASURER 1.00 X X 0 0 0 VICTORIA MARRON BOD MEMBER 1.00 X 0 0 0 WALLY WHITLEY BOD MEMBER 1.00 X 0 0 0 DICK DAWSON BOD MEMBER 1.00 X 0 0 0 CONNIE A TILTON BOD MEMBER 1.00 X 0 0 0 DAVID MOHLAM BOD MEMBER 1.00 X 0 0 0 RUSSELL BALLARD PRESIDENT/CEO 40.00 X 453904 0 132006 DEENA SMITH CFO/SVP 40.00 X 275700 0 34190 CHARLES HAST CLO/SVP 40.00 X 236466 0 54214 BRENDA WEINBERGER CIO/SVP 40.00 X 243108 0 37186 TAMARA HUDSON COO/SVP 40.00 X 233835 0 34277 TRAVIS SMITH VP FINANCIAL ADVISOR 40.00 X 266667 0 78452 AARON RATHBONE VP OF BUSINESS LENDING 40.00 X 184336 0 32854 MATTHEW GLASSCO SR. SYSTEMS ENGINEER 40.00 X 155047 0 44827 NICOLE MARINO VP DATA ANALYTICS & CARDS 40.00 X 232578 0 18519 CANO ALVIN HERNANDEZ BRANCH MANAGER 40.00 X 137528 0 12485 2419169 0 479010 16 0 1 0 FIDELITY NATIONAL INFORMATION SERVICES PENLEY DEPT 9342 LOS ANGELES CA 90084 DEBIT AND CREDIT CARD PROCESSOR 1815691 BLUE CROSS AND BLUE SHIELD OF TEXAS PO BOX 650615 DALLAS TX 75265 HEALTHCARE INSURANCE 1560392 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 ONLINE BANKING SERVICE PROVIDER-BILL PAY 1523003 AUTO SERVICES COMPANY INC PO BOX 1075 MOUNTAIN HOME AR 77265 ROUTE 66 - EXTENDED WARRANTY 790469 MCPC INC PO BOX 643283 PITTSBURGH PA 15264 OFFICE SUPPLIES, SOFTWARE, LICENSING, & 707588 33 INTEREST ON LOANS 522100 25877285 25877285 OTHER INCOME 522100 11696362 11642807 53555 FEE INCOME 522100 7276347 7110747 165600 44849994 1385735 1385735 MISCELLANEOUS INCOME 522100 1304235 1304235 1304235 47539964 45935074 219155 1385735 2234003 1734886 11181430 1813085 1478651 800315 147580 187304 1744887 1491404 1516179 1708045 17092 296127 191847 1915387 258601 DEBIT CARD PROCESSING 2468694 LOAN SERVICING EXPENSE 1961788 HOME/MOBILE BANKING 1399510 PROVISION FOR LOAN & LE 1211945 3543740 39302500 11157613 6893865 18030227 12743405 2627771 931465 4891215 5402111 519069074 603009271 14772605 16041723 57455222 22709607 35846128 34745615 95369907 72110922 426200 1637200 10776802 10409229 712967542 763924806 6759629 5787404 29000000 644611519 667593812 651371148 702381216 X 0 0 0 0 61596394 61543590 61596394 61543590 712967542 763924806 X 8237464 -8967242 676974 X 0 0 0 4831337 4831337 35171438 9343049 25828389 17452447 13366558 4085889 34745615 REGULAR SHARES 261485776 MONEY MARKET SHARES 51886963 SHARE DRAFT 233062347 IRA SHARES 27078568 CERTIFICATES OF DEPOSIT 83413158 NONMEMBER DEPOSITS 10667000 667593812 X PART X, LINE 2: AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF MARCH 31. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR THE 990. PER FOOTNOTE 1 IN THE CREDIT UNION'S MARCH 31, 2023 AND 2022 AUDITED FINANCIAL STATEMENTS, THE CREDIT UNION IS EXEMPT, UNDER IRC 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS FOR ACTIVITIES IT HAS DEEMED TAXABLE. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERAIL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF MARCH 31, 2023 AND 2022. THE CREDIT UNION'S 2019 THROUGH 2022 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. THE CUSO, AS A LIMITED LIABILITY COMPANY, HAS ELECTED TO BE TAXED AS A PASS-THROUGH ENTITY. THE PROFIT AND LOSS OF THE CUSO IS REFLECTED IN THE TAX RETURN OF ITS OWNER, THE CREDIT UNION. X 1 1 X X X 0 0 0 RUSSELL BALLARD PRESIDENT/CEO 392960 0 55400 0 5544 0 124558 0 7448 0 585910 0 0 0 TRAVIS SMITH VP FINANCIAL ADVISOR 264977 0 1000 0 690 0 65286 0 13166 0 345119 0 0 0 DEENA SMITH CFO/SVP 238542 0 36352 0 806 0 33962 0 228 0 309890 0 0 0 CHARLES HAST CLO/SVP 201814 0 33086 0 1566 0 39784 0 14430 0 290680 0 0 0 BRENDA WEINBERGER CIO/SVP 206162 0 35423 0 1523 0 36958 0 228 0 280294 0 0 0 TAMARA HUDSON COO/SVP 197444 0 34960 0 1431 0 27210 0 7067 0 268112 0 0 0 NICOLE MARINO VP DATA ANALYTICS & CARDS 211726 0 20225 0 627 0 18291 0 228 0 251097 0 0 0 AARON RATHBONE VP OF BUSINESS LENDING 168022 0 15766 0 548 0 25406 0 7448 0 217190 0 0 0 MATTHEW GLASSCO SR. SYSTEMS ENGINEER 140037 0 13949 0 1061 0 27923 0 16904 0 199874 0 0 0 CANO ALVIN HERNANDEZ BRANCH MANAGER 137528 0 0 0 0 0 5736 0 6749 0 150013 0 0 0 PART I, LINE 1A BOARD MEMBER SPOUSES ARE ELIGIBLE FOR COMPANION TRAVEL. RUSSELL BALLARD EXECUTIVE VP TO FUND DEFERRED COMPENSATION PLAN X 1186957 2975283 0 1 1 DEENA SMITH SVP/CHIEF FINANCIAL OFFICER TO FUND DEFERRED COMPENSATION PLAN X 625000 1560844 0 1 1 BRENDA WEINBERGER SVP/CIO TO FUND DEFERRED COMPENSATION PLAN X 200000 435990 0 0 1 TAMARA HUDSON SVP/COO TO FUND DEFERRED COMPENSATION PLAN X 200000 429994 0 0 1 5402111 FORM 990, PART VI, SECTION A, LINE 6 COMMUNITY RESOURCE CREDIT UNION IS A STATE CHARTERED CREDIT UNION WITH MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS THE GOVERNING BODY AND IS ELECTED ANNUALLY BY THE COMMUNITY RESOURCE CREDIT UNION MEMBERS. 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 THE FORM 990 IS REVIEWED BY THE CEO AND THE CONTROLLER, WHO IS A CERTIFIED PUBLIC ACCOUNTANT. A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C WHEN EMPLOYEES ARE HIRED, THEY MUST ACKNOWLEDGE THEY HAVE READ EMPLOYEE POLICIES. THEY MUST SIGN AGAIN IF ANY CHANGES ARE MADE TO THE POLICIES. COMMUNITY RESOURCE CREDIT UNION OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE DIRECTED TO DISCLOSE TO THEIR DEPARTMENT HEAD AND THE HUMAN RESOURCES DEPARTMENT IF ANOTHER INTEREST COULD GIVE RISE TO CONFLICTS IN REGARDS TO OUR CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 CEO SALARY IS APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15B: COMPENSATION IS REVIEWED AND DETERMINED BY A MEMBER OF HR (HR MANAGER OR VP HR) AND HIRING MANAGER, AND WHEN DEEMED APPROPRIATE THE CEO. WE USE A COMPENSATION MANAGEMENT SYSTEM TO SUPPORT SALARY DETERMINATIONS. WE ALSO OBTAIN CREDIT UNION SPECIFIC SUPPLEMENTAL SURVEY RESOURCES WHEN DEEMED APPROPRIATE FOR UPPER MANAGEMENT/EXECUTIVE COMPENSATION. DOCUMENTATION IS MAINTAINED WITHIN EMPLOYEE FILE. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023 FORM 990, PART VI, SECTION C, LINE 19 OUR CONFLICT OF INTEREST POLICY IS CONTAINED IN THE EMPLOYEE HANDBOOK. THE CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE AVAILABLE IN THE CALL REPORT ON THE NCUA WEBSITE. FORM 990, PART VII CONTACT ADDRESSES FOR OFFICERS, DIRECTORS, ETC DEENA SMITH - 202 LAGO CIRCLE, SANTA FE, TX 77517. CHARLES HAST - 706 BEAUMONT ST, LEAGUE CITY, TX 77573. FORM 990, PART XI, LINE 9: OTHER COMPREHENSIVE INCOME 676,974. CRCU INSURANCE COMPANY 3110 ROLLINGCREEK DRIVE BAYTOWN TX 77521 811808537 INSURANCE SERVICES TX 53555 109242 COMMUNITY RESOURCE CREDIT UNION