2022-10-12T10:45:42-05:00 2021-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2021-01-01 561295697 VIZO FINANCIAL CORPORATE CREDIT UNION VIZO 3362174992 7900 TRIAD CENTER DRIVE 410 GREENSBORO NC 27409 MARK BROWN CFO 3362174907 2022-10-11 1 MARK BROWN 999009999 JOHN J MURNANE JR P03021572 3052328272 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z DAVID BREHMER 7900 TRIAD CENTER DRIVE SUITE 410 GREENSBORO NC 27409 155341145 0 X WWW.VFCCU.ORG X 1980 NC VIZO FINANCIAL IS THE CREDIT UNIONS' "CREDIT UNION" OFFERING LIQUIDITY SERVICES, INVESTMENT SERVICES, AND CORRESPONDENT SERVICES TO ITS MEMBERS. 9 9 187 17 0 0 0 0 22030022 119689284 54604954 35851249 37103 -199388 76672079 155341145 19225 52950 0 0 17898876 19890453 0 0 0 40418249 34063191 58336350 54006594 18335729 101334551 7383800862 5382501749 7019022453 4927806728 364778409 454695021 DRIVING CREDIT UNION SUCCESS THROUGH PROVEN EXCELLENCE, EXPERTISE, AND ENGAGED PARTNERSHIPS. 0 0 SETTLEMENT AND PAYMENT SERVICES: WE PROVIDE AGGREGATED PAYMENT SERVICES SO CREDIT UNIONS CAN EFFICIENTLY AND COST EFFECTIVELY SERVE THEIR MEMBERS, PROVIDING THEM TOOLS FOR MOVING MONEY ELECTRONICALLY. FUNDS MANAGEMENT & LIQUIDITY SERVICES: ONE OF THE KEY SERVICES WE PROVIDE MEMBERS IS A COMPLETE LINE OF COMPETITIVE SHORT-TERM DEPOSIT PRODUCTS COMBINED WITH LINES-OF-CREDIT SO THAT THEY CAN MORE EFFECTIVELY MANAGE THEIR CASH FLOW NEEDS. ASSET-LIABILITY MANAGEMENT (ALM) AND RISK MANAGEMENT SERVICES: ALM SERVICES INCLUDE BOTH CONSULTING AND MODELING RISKS INHERENT IN A CREDIT UNION'S BALANCE SHEET. OUR RISK MANAGEMENT SERVICES INCLUDE COMPLIANCE/REGULATORY TRAINING, INFORMATION SYSTEM RISK ASSESSMENTS, BUSINESS CONTINUITY PLANNING, AND ENTERPRISE RISK MANAGEMENT BEST PRACTICES. THESE SERVICES ARE DESIGNED TO HELP CREDIT UNIONS BEST UNDERSTAND AND MITIGATE RISKS THEY ENCOUNTER IN THEIR OPERATIONS. 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 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 41 0 1 187 1 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 1 X MARK BROWN 3362174907 7900 TRIAD CENTER DRIVE SUITE 410 GREENSBORO NC 27409 ALISON DETUNCQ DIRECTOR 2.00 X 0 0 0 SCOTT WOODS BOARD VICE CHAIRPERSON 3.00 X 0 0 0 JERRY KING BOARD CHAIRPERSON 3.00 X 0 0 0 JEFF CHELIUS BOARD TREASURER 2.00 X 0 0 0 SCOTT WEAVER BOARD SECRETARY 2.00 X 0 0 0 DANIEL BERRY DIRECTOR 2.00 X 0 0 0 MARK VOLPONI DIRECTOR 2.00 X 0 0 0 GENICE DECORTE DIRECTOR 2.00 X 0 0 0 PAUL HUGHES DIRECTOR 2.00 X 0 0 0 JAY MURRAY CEO (JAN 2021-JUN 2021) 40.00 X 247913 0 37183 DAVID BREHMER PRESIDENT/CEO 40.00 X 503545 0 296757 MARK BROWN CFO 40.00 X 521583 0 82662 FRED EISEL CIO 40.00 X 528504 0 83530 JEFFREY STONER CHIEF STRATEGY OFFICER 40.00 X 257645 0 103930 RODNEY MAY CHIEF ENGAGEMENT OFFICER 40.00 X 244521 0 97220 LORI GALL CHIEF RISK OFFICER 40.00 X 223256 0 86596 JOSEPH BERTOTTO CHIEF CULTURE OFFICER 40.00 X 209186 0 92145 JANICE APPLEBY CHIEF HUMAN RESOURCES OFFI 40.00 X 193942 0 65857 DREW KISHBAUGH FORMER COO 40.00 X 271708 0 18693 3201803 0 964573 39 1 1 0 CU ANSWERS 6000 28TH ST GRAND RAPIDS MI 49546 CORE DATA PROCESSOR PARTNER 1046597 ALOGENT 35 TECHNOLOGY PARKWAY SOUTH PEACHTREE CORNERS GA 30092 DEPOSIT CAPTURE PLATFORM 630256 ROBERT HALF TECHNOLOGY 12400 COLLECTIONS CENTER DR CHICAGO IL 60693 IT PERSONNEL ON CONTRACT 598729 APTYS 6801 PARKWOOD BLVD PLANO TX 75024 EFT SOLUTIONS PARTNER 525753 FISERV INC PO BOX 934057 GRAPEVINE TX 76099 PROCESSING AND ANCILLARY 449251 19 CORRESPONDENT SERVICES 522100 119531903 119531903 INCOME ON LOANS 522100 157381 157381 119689284 35851249 35851249 EQUITY METHOD INCOME FROM CUSOS 522100 -199388 -199388 -199388 155341145 155341145 0 0 52950 2301677 10966678 1549611 4090954 981533 84631 277504 2518097 84731 1498391 2210391 1504875 85557 252120 6100462 527015 1311352 185180 CORRESPONDENT SERVICES 16890923 MAINTENANCE 267331 MISCELLANEOUS EXPENSE 264631 54006594 12207996 10561851 3225312405 1201458064 34937436 45786977 8530933 8560644 2428 1088364 2295467 2157017 14666742 12148734 5348910 2518008 3957817054 3983941092 89152162 78100442 2282127 1120822 45913944 47208468 7383800862 5382501749 57567564 53931113 6022800 6955432089 4873875615 7019022453 4927806728 X 0 0 0 0 364778409 454695021 364778409 454695021 7383800862 5382501749 X 101334551 -11608339 190400 X X 0 1 X 1 0 132800 132800 374259 118266 255993 270925 231775 39150 13888758 11798693 2090065 2518008 DAILY SHARE ACCOUNTS 4164501171 PSA-30 SHARE ACCOUNTS 23136922 PSA-90 SHARE ACCOUNTS 384901925 HOLIDAY ACCUMULATION ACCOUNT 15845000 CERTIFICATES 276985188 NON-PERPETUAL CAPITAL SHARES 8505409 4873875615 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. 1 CAROLINAS CREDIT UNION FOUNDATION 4100 MENDENHALL OAKS PARKWAY SUITE 130 HIGH POINT NC 27265 561842095 501(C)(3) 10600 0 CHARITABLE CONTRIBUTION NATIONAL CREDIT UNION FOUNDATION 5710 MINERAL POINT ROAD PO BOX 431 MADISON WI 53705 391383650 501(C)(3) 10000 0 CHARITABLE CONTRIBUTION PENN STATE HEALTH CHILDREN'S HOSPITAL 124 COCOA AVENUE SUITE 115 PO BOX 852 HERSHEY PA 17033 232707953 501(C)(3) 10500 0 CHARITABLE CONTRIBUTION CROSSSTATE CREDIT UNION FOUNDATION 4309 N FRONT STREET HARRISBURG PA 17110 251786339 501(C)(3) 11850 0 CHARITABLE CONTRIBUTION 4 0 PART I, LINE 2: THE AMOUNTS PAID TO THE ORGANIZATIONS ARE CONSIDERED DONATIONS, NOT GRANTS. SO THERE IS NO MONITORING. SOME DONATIONS ARE EVENT SPONSORSHIP BASED. X 1 1 X X X X X 0 1 0 DAVID BREHMER PRESIDENT/CEO 397867 0 23647 0 82031 0 285212 0 11545 0 800302 0 0 0 FRED EISEL CIO 245748 0 10286 0 272470 0 51728 0 31802 0 612034 0 222593 0 MARK BROWN CFO 232660 0 10227 0 278696 0 50860 0 31802 0 604245 0 222593 0 JEFFREY STONER CHIEF STRATEGY OFFICER 244687 0 11302 0 1656 0 72128 0 31802 0 361575 0 0 0 RODNEY MAY CHIEF ENGAGEMENT OFFICER 234644 0 8298 0 1579 0 65461 0 31759 0 341741 0 0 0 LORI GALL CHIEF RISK OFFICER 212922 0 8684 0 1650 0 64949 0 21647 0 309852 0 0 0 JOSEPH BERTOTTO CHIEF CULTURE OFFICER 194032 0 8142 0 7012 0 70573 0 21572 0 301331 0 0 0 DREW KISHBAUGH FORMER COO 0 0 0 0 271708 0 0 0 18693 0 290401 0 0 0 JAY MURRAY CEO (JAN 2021-JUN 2021) 219839 0 23729 0 4345 0 20919 0 16264 0 285096 0 0 0 JANICE APPLEBY CHIEF HUMAN RESOURCES OFFI 184875 0 7641 0 1426 0 54194 0 11663 0 259799 0 0 0 PART I, LINE 4B CERTAIN MEMBERS OF MANAGEMENT PARTICIPATE IN A 457(F) PLAN. BENEFIT INFORMATION AS OF DECEMBER 31, 2021 FOR EACH OF THE PARTICIPANTS IS AS FOLLOWS: 457(F) BENEFITS PAID OUT DURING 2021: MARK BROWN - $250,000 FRED EISEL- $250,000 THE 457(F) BENEFIT EXPENSE ACCRUED DURING 2021 FOR EACH OF THE PARTICPANTS REPORTED IN PART VII IS AS FOLLOWS: JANICE APPLEBY: $36,972 MARK BROWN: $27,407 LORI GALL: $44,602 FRED EISEL: $27,407 RODNEY MAY: $43,201 JEFFREY STONER: $49,206 JOSEPH BERTOTTO: $55,909 DAVID BREHMER: $260,923 DAVID BREHMER PRESIDENT/CEO TO FUND LIFE INSURANCE POLICY X 3000000 3507714 0 1 1 DAVID BREHMER PRESIDENT/CEO TO FUND LIFE INSURANCE POLICY X 56165 7914 0 1 1 MARK BROWN CFO TO FUND LIFE INSURANCE POLICY X 53340 54905 0 1 1 FRED EISEL CIO TO FUND LIFE INSURANCE POLICY X 49123 57678 0 1 1 JAY MURRAY CEO (JAN 2021 - JUN 2021) TO FUND LIFE INSURANCE POLICY X 5300000 4932433 0 1 1 8560644 FORM 990, PART VI, SECTION A, LINE 6 MEMBERS ARE MADE UP OF NATURAL PERSON CREDIT UNIONS. MEMBERSHIP IS REQUIRED FOR SERVICE. FORM 990, PART VI, SECTION A, LINE 7A WE HAVE APPROXIMATELY 650 MEMBER-OWNERS WHO ELECT THE BOARD OF DIRECTORS. EACH MEMBER ORGANIZATION HAS ONE VOTE. 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. IN ADDITION TO ELECTION OF BOARD MEMBERS, SOME MAJOR DECISIONS SUCH AS MERGING REQUIRE MEMBERSHIP APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B THE CFO COMPILES ALL REQUESTED DATA FOR COMPLETING FORM 990 FROM APPROPRIATE DEPARTMENTS. HE WORKS WITH THE HUMAN RESOURCES DEPARTMENT AND THE CHIEF HUMAN RESOURCES OFFICER TO ENSURE ALL EMPLOYEE COMPENSATION DATA IS ACCURATE. OUR CPA FIRM COMPLETES A DRAFT OF FORM 990 WHICH IS REVIEWED BY THE PRESIDENT AND CFO. AFTER THE PRESIDENT AND CFO REVIEW FORM 990 AND ANY NECESSARY CHANGES ARE MADE, THE CPA FIRM FINALIZES 990. FORM 990, PART VI, SECTION B, LINE 12C AT THE START OF EACH BOARD MEETING, EACH DIRECTOR MUST DISCLOSE IF THERE ARE ANY POTENTIAL CONFLICT OF INTEREST REGARDING ANY ACTION OR DISCUSSION TOPIC THAT WILL TAKE PLACE DURING THE MEETING. IF AFFIRMATIVE, THAT DIRECTOR IS EXCLUDED FROM BOTH DISCUSSION AND ACTION ON THAT SPECIFIC ISSUE. FORM 990, PART VI, SECTION B, LINE 15 WE UTILIZE THE SERVICES OF A THIRD-PARTY CONSULTANT WHO SPECIALIZES IN COMPENSATION STUDIES FOR EVERY POSITION WITHIN THE ORGANIZATION. ALL POSITIONS HAVE SET SALARY RANGES BASED ON OUTSIDE COMPENSATION STUDIES AND RECOMMENDATIONS BY THE COMPENSATION CONSULTANT. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: ISSUANCE OF PERPETUAL CONTRIBUTED CAPITAL 190,400. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. MY CU SERVICES LLC 1201 FULLING MILL RD MIDDLETON PA 17057 251865944 PAYMENT SERVICES PA 15130372 18458253 VIZO FINANCIAL CORPORATE CREDIT UNION