2022-05-13T17:54:54-05:00 2021-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2021-01-01 750692281 CITY CREDIT UNION CITY 2143195070 7474 FERGUSON ROAD DALLAS TX 75228 SHARON MOORE PRESIDENT/CEO 2143195070 2022-05-10 1 SHARON MOORE 999009999 MARY C GREEN P00447183 6022662248 2022-05-10 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z SHARON MOORE 7474 FERGUSON ROAD DALLAS TX 75228 30496787 0 X WWW.CITYCU.ORG X 1942 TX A COOPERATIVE THRIFT INSTITUTION AND A MEMBER OF THE NATIONAL CREDIT UNION ADMINISTRATION. 7 7 128 8 592411 0 0 0 27821989 27222723 1995602 2048384 1034721 1225680 30852312 30496787 7315 7892 3714282 3121039 8879702 9102874 0 0 0 15250304 13879816 27851603 26111621 3000709 4385166 548487702 597562464 494773979 538828618 53713723 58733846 CITY CREDIT UNION IS A COOPERATIVE THRIFT INSTITUTION AND IS A MEMBER OF THE NATIONAL CREDIT UNION ADMINISTRATION. 0 0 PROVIDED LOANS, DEPOSIT ACCOUNTS AND OTHER FINANCIAL PRODUCTS AND SERVICES TO 35,862 MEMBERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 8204 0 128 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 1 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 1 0 X SHARON MOORE 2143195070 7474 FERGUSON RD DALLAS TX 75228 SHARON MOORE PRESIDENT/CEO 40.00 X 555689 0 35680 MITCHELL CLARK CAO 40.00 X 288548 0 26877 JOHN BAILEY COO 40.00 X 285880 0 26501 DAVID FRITH CSO 40.00 X 263247 0 25971 SALLIE HORACE CRO 40.00 X 235543 0 23818 GARETH CADA IT MANAGER 40.00 X 142645 0 11113 JEFF MAGLALANG REAL ESTATE MANAGER 40.00 X 127489 0 10316 SHANNON GARRET CONTROLLER 40.00 X 116237 0 9935 SHARON KORBA MARKETING MANAGER 40.00 X 114971 0 9551 ALAN RICHARDSON CHAIR 1.00 X X 0 0 0 LARRY MCDANIEL VICE CHAIR 1.00 X X 0 0 0 GLORIA LOPEZ CARTER TREASURER (THRU 1/21) 1.00 X X 0 0 0 CRAIG MILLER SECRETARY/TREASURER 1.00 X X 0 0 0 GILBERT AGUILAR DIRECTOR 1.00 X 0 0 0 PRECIOUS NICOLE GILLS DIRECTOR 1.00 X 0 0 0 GREG REICHEL DIRECTOR 1.00 X 0 0 0 CONRADO MORLAN DIRECTOR 1.00 X 0 0 0 2130249 0 179762 9 0 1 0 FISERV PO BOX 208457 DALLAS TX 75320 TECHNOLOGY SERVICES 2557262 AUTO EXAM 17555 EL CAMINO REAL HOUSTON TX 77058 AUTO PROTECTION SERVICES 1269605 FROST FINANCIAL SERVICES INC 8829 CHAPEL SQUARE DR CINCINNATI OH 45249 AUTO LOAN PROTECTION SERVICES 343225 DSE HOCKEY CLUB 2601 AVENUE OF THE STARS DALLAS TX 75034 ADVERTISING 325000 ACHIEVA MORTGAGE FUNDING LLC 11 OAK CREEK DR SUITE E KAUFMAN TX 75142 MORTGAGE FUNDING 300035 17 INTEREST ON LOANS TO MEMBERS 522100 17808316 17808316 FEES AND CHARGES 522100 7735695 7683680 52015 INSURANCE COMMISSION 522100 1678712 1558557 120155 27222723 2048384 2048384 420241 0 420241 420241 420241 CAPITAL SHARE CLAIM REIMBURSEMENT 522100 667662 667662 MISCELLANEOUS REVENUE 522100 137777 137777 805439 30496787 27855992 592411 2048384 7892 3121039 1767755 5090403 881928 938602 424186 14045 68360 552765 795179 782014 485131 1409168 4028 110949 895271 143551 PROVISION FOR LOAN LOSS 3289096 MISCELLANEOUS 1500652 DEBIT CARD EXPENSE 1436888 LOAN SERVICING 1045167 1347552 26111621 4788665 5078490 46219302 58942735 317766784 326202993 702788 812419 23781884 10327624 13595503 13454260 474795 156149613 182877539 9265047 9719233 548487702 597562464 9148535 9868998 485625444 528959620 494773979 538828618 X 0 0 0 0 53713723 58733846 53713723 58733846 548487702 597562464 X 4385166 6749 628208 X 0 1 X 1 0 3839922 3839922 14929027 5825560 9103467 53242 53242 0 4830515 4383792 446723 129178 65030 64148 13454260 HELD-TO-MATURITY 176757348 C CERTIFICATES OF DEPOSIT IN OTHER FINANCIAL INSTITUTIONS 5865000 C FEDERAL HOME LOAN BANK STOCK 219500 C PSCU CAPITAL SHARES 35691 C 182877539 MEMBER'S SHARE AND SAVINGS ACCOUNT 528484825 457 PLAN LIABILITY 474795 528959620 X PART X, LINE 2: 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. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE CREDIT UNION OWNS A MAJORITY INTEREST IN THE CONSOLIDATED CUSO. THE INCOME FROM THE CUSO FLOWS UP TO THE CREDIT UNION, AND THEREFORE IS NOT SUBJECT TO MOST FEDERAL AND STATE INCOME TAXES. X X 1 1 X X X 0 1 0 SHARON MOORE PRESIDENT/CEO 433119 0 115400 0 7170 0 30500 0 5180 0 591369 0 0 0 MITCHELL CLARK CAO 261495 0 27053 0 0 0 21698 0 5179 0 315425 0 0 0 JOHN BAILEY COO 257054 0 28826 0 0 0 21322 0 5179 0 312381 0 0 0 DAVID FRITH CSO 247537 0 15710 0 0 0 20794 0 5177 0 289218 0 0 0 SALLIE HORACE CRO 213156 0 22387 0 0 0 18650 0 5168 0 259361 0 0 0 GARETH CADA IT MANAGER 136006 0 6639 0 0 0 5961 0 5152 0 153758 0 0 0 PART I, LINE 4B THE CREDIT UNION HAS A 457F NONQUALIFIED DEFERRED COMPENSATION PLAN FOR MEMBERS OF MANAGEMENT. THE FOLLOWING EMPLOYEES RECEIVED CONTRIBUTIONS TO THIS PLAN DURING 2021: - SHARON MOORE $19,500 - JOHN BAILEY $11,500 - MITCHELL CLARK $11,706 - SALLIE HORACE $9,404 - DAVID FRITH $10,815 FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE UPDATED DURING CALENDAR 2021 TO COMBINE THE SECRETARY AND TREASURER POSITIONS ON THE BOARD OF DIRECTORS AND TO REDUCE THE NUMBER OF VOTING BOARD MEMBERS ON A COMMITTEE TO THREE. FORM 990, PART VI, SECTION A, LINE 6 CITY CU IS A MEMBER-OWNED FINANCIAL COOPERATIVE. MEMBERSHIP IS OPEN TO ANYONE WHO LIVES, WORKS, WORSHIPS, OR ATTENDS SCHOOL IN THE FOLLOWING TEXAS COUNTIES: DALLAS, ELLIS, COOKE, GRAYSON, ROCKWALL, KAUFMAN, DENTON, COLLIN, TARRANT, HUNT, JOHNSON, PARKER, AND WISE. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION'S MEMBERS ELECT THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B BOARD ELECTIONS AND MERGERS ARE SUBJECT TO APPROVAL BY MEMBERS AS STATED IN THE CREDIT UNION'S CHARTER AND BYLAWS. FORM 990, PART VI, SECTION A, LINE 8B THE CREDIT UNION DOES NOT HAVE ANY COMMITTEES THAT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE PRESIDENT/CEO AND THE CHIEF ADMINISTRATIVE OFFICER. THE PRESIDENT/CEO SIGNS THE FORM 990 AS AUTHORIZED BY THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS RECEIVE A COPY OF THE FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS THE BOARD OF DIRECTORS AND THE CEO. ANY CONFLICT OF INTEREST SHOULD BE DISCLOSED BY THE INDIVIDUAL AND THAT PERSON RECUSES THEMSELVES FROM DISCUSSION AND DECISION MAKING ON THE TOPIC. REMAINING DIRECTORS CONSIDER AND RESOLVE ANY ISSUES INVOLVING CONFLICT OF INTEREST OF INDIVIDUAL DIRECTORS. INTERNAL AUDIT REPORTS ARE REVIEWED BY MANAGEMENT, THE AUDIT COMMITTEE AND THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION CONTRACTS WITH AN INDEPENDENT CONSULTING FIRM TO PROVIDE COMPENSATION INFORMATION AND DATA, WHICH THE BOARD USES TO DETERMINE THE PRESIDENT AND CEO'S COMPENSATION AND BENEFITS. THE BOARD MINUTES REFLECT THIS ACTION. FOR ALL OTHER EMPLOYEES, THE INDEPENDENT CONSULTANT PROVIDES MARKET DATA AND MERIT INCREASES ARE BASED ON PERFORMANCE REVIEWS BY THE CEO WHICH ARE KEPT ON FILE. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S WEBSITE INDICATES THIS INFORMATION IS AVAILABLE UPON REQUEST. FINANCIAL INFORMATION IS ALSO INCLUDED IN THE CREDIT UNION'S ANNUAL REPORT WHICH IS AVAILABLE ON THE CREDIT UNION'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF DEFINED BENEFIT PLAN ASSETS 628,208. CITY CU FINANCIAL SERVICES LLC 7474 FERGUSON RD DALLAS TX 752286543 814446137 INSURANCE SALES TX 121622 36257 CITY CREDIT UNION