2022-11-01T15:33:26-05:00 2021-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2021-01-01 741109889 FIVEPOINT CREDIT UNION FIVE 4097268300 PO BOX 1366 NEDERLAND TX 776271366 KENNETH MILLER EXECUTIVE VICE PRESIDENT 4097268200 2022-11-01 1 KENNETH MILLER 999009999 JOHN J MURNANE JR P03021572 2482443000 2022-11-01 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z ERIK SHAW PO BOX 1366 NEDERLAND TX 77627 45891302 0 X WWW.FIVEPOINTCU.ORG X 1935 TX TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERSHIP WITH VARIOUS LOAN AND DEPOSIT PRODUCTS. 11 11 249 14 67635 0 0 0 41380971 44163022 1698383 1660645 46488 67635 43125842 45891302 174527 218044 0 0 16414816 18499609 0 0 0 24324389 21348351 40913732 40066004 2212110 5825298 772281463 833470409 693718388 751155135 78563075 82315274 TO IMPROVE THE QUALITY OF LIFE FOR OUR MEMBERS AND THE COMMUNITY. 0 0 INTEREST INCURRED ON MEMBER DEPOSITS APPROXIMATED $3,712,000 DURING THE YEAR ENDED DECEMBER 31, 2021. ATM SERVICES PROVIDED TO THE MEMBERSHIP REPRESENTED $2,881,899 OF TOTAL EXPENSES INCURRED DURING THE YEAR ENDED DECEMBER 31, 2021. HOME BANKING PROVIDED TO THE MEMBERSHIP REPRESENTED A COST OF APPROXIMATELY $1,231,785 INCURRED DURING THE YEAR ENDED DECEMBER 31, 2021. 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 13884 0 1 249 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 WENDI CHRISTIAN 4097268212 PO BOX 1366 NEDERLAND TX 77627 DENNY WINTER BOARD MEMBER 0.50 X 0 0 0 JACK THORNTON BOARD MEMBER 0.50 X 0 0 0 LOUIS ANSELMO BOARD MEMBER 0.50 X 0 0 0 JODY BRIGGS 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 ERIK SHAW CEO 40.00 X X 471190 0 33539 GLENN JOHNSON CHAIRPERSON 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 JAMES SAXON SECRETARY TREASURER 1.00 X 0 0 0 KENNETH MILLER EXECUTIVE VICE PRESIDENT 40.00 X 330785 0 34273 VICKI KELLEY SVP, HUMAN RESOURCES 40.00 X 245912 0 36992 JENNIFER WEBB SVP, LENDING 40.00 X 274850 0 20815 KRISTEN BELLANGER SVP, OPERATIONS 40.00 X 261090 0 27555 MATT BOREL FINANCIAL ADVISOR 40.00 X 278225 0 30586 WENDI CHRISTIAN VP ACCOUNTING 40.00 X 167029 0 25835 MARLA RUCKER VP IT 40.00 X 155314 0 29475 CHRISTIE DOWNS VP LENDING 40.00 X 159726 0 9916 AMANDA WHITE VP OF HUMAN RESOURCES 40.00 X 151693 0 12460 KAREN BLUM VP MARKETING 40.00 X 128993 0 29557 AIMEE SLOTT VP BUSINESS LENDING 40.00 X 140084 0 13001 DEBBIE SPEAR VP OPERATIONS 40.00 X 148391 0 28692 CHASIDY BOHANAN VP OPERATIONS 40.00 X 146754 0 8442 DARLA DIGIOVANNI CALL CENTER MANAGER 40.00 X 144677 0 10054 3204713 0 351192 25 0 1 0 CONSTRUCTION ZONE OF SETX PO BOX 192 AUBREY TX 76227 CONSTRUCTION 2530478 NCR CORPORATION 5601 LINDERO CANYON ROAD SUITE 100 WESTLAKE VILLAGE CA 91362 ONLINE BANKING SERVICES 1307042 ANN LEE AND ASSOCIATES LTD 1555 DUSTIN CADE DR NEW BRAUNFELS TX 78130 MARKETING FIRM 1018031 PULSE EFT ASSOCIATION 1301 MCKINNEY SUITE 600 HOUSTON TX 77010 DEBIT CARD PROCESSOR 662460 SOFTCHOICE CORPORATION 314 WEST SUPERIOR STREET SUITE 400 CHICAGO IL 60654 IT VMWARE SUPPORT 644664 37 LOAN RECEIVABLE 522100 27626681 27626681 FEES, CHARGES, OTHER 522100 16536341 16536341 44163022 1660645 1660645 FINANCE & INSURANCE 520000 67635 67635 67635 45891302 44163022 67635 1660645 X 208044 10000 2757260 11718656 767939 2314261 941493 427794 117500 261620 1506321 1743861 3117300 1391569 45075 1344 3712757 122483 2268918 336539 ATM EXPENSE 2913561 LOAN SERVICING 1375188 MAINTENANCE AND REPAIRS 996236 PROVISION FOR LOAN LOSS 514624 495661 40066004 8633677 13104831 92564739 78153808 379102 483651 7961636 8370209 526473029 569489814 1234117 1477080 48609172 23102135 24345204 25507037 86312607 111238736 1259255 1000491 172809 152478 22945288 24492274 772281463 833470409 4551550 11079191 689166838 740075944 693718388 751155135 X 0 0 0 0 78563075 82315274 78563075 82315274 772281463 833470409 5825298 -2073099 0 X X 0 1 X 1 0 1658678 1658678 28686424 9626244 19060180 2732498 1518744 1213754 15531572 11957147 3574425 25507037 MEMBERS SHARE ACCOUNTS 740075944 740075944 X 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) 62630 0 CHARITABLE DONATION AMERICAN HEART ASSOCIATION SOUTHWEST AFFILIATE PO BOX 4002903 DES MOINES IA 50340 135613797 501(C)(3) 6470 0 CHARITABLE DONATION 2 SCHOLARSHIPS 10 10000 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 ERIK SHAW CEO 402949 0 61021 0 7220 0 12713 0 20826 0 504729 0 0 0 KENNETH MILLER EXECUTIVE VICE PRESIDENT 284950 0 44053 0 1782 0 21363 0 12910 0 365058 0 0 0 MATT BOREL FINANCIAL ADVISOR 277667 0 481 0 77 0 17920 0 12666 0 308811 0 0 0 JENNIFER WEBB SVP, LENDING 241797 0 32747 0 306 0 19500 0 1315 0 295665 0 0 0 KRISTEN BELLANGER SVP, OPERATIONS 228037 0 32747 0 306 0 19500 0 8055 0 288645 0 0 0 VICKI KELLEY SVP, HUMAN RESOURCES 217253 0 28220 0 439 0 26000 0 10992 0 282904 0 0 0 WENDI CHRISTIAN VP ACCOUNTING 148196 0 18576 0 257 0 25835 0 0 0 192864 0 0 0 MARLA RUCKER VP IT 136286 0 18548 0 480 0 12075 0 17400 0 184789 0 0 0 DEBBIE SPEAR VP OPERATIONS 130339 0 17482 0 570 0 26000 0 2692 0 177083 0 0 0 CHRISTIE DOWNS VP LENDING 142026 0 17594 0 106 0 8601 0 1315 0 169642 0 0 0 AMANDA WHITE VP OF HUMAN RESOURCES 134919 0 16673 0 101 0 8342 0 4118 0 164153 0 0 0 KAREN BLUM VP MARKETING 113399 0 15279 0 315 0 25492 0 4065 0 158550 0 0 0 CHASIDY BOHANAN VP OPERATIONS 135650 0 11015 0 89 0 4127 0 4315 0 155196 0 0 0 DARLA DIGIOVANNI CALL CENTER MANAGER 132536 0 11793 0 348 0 8077 0 1977 0 154731 0 0 0 AIMEE SLOTT VP BUSINESS LENDING 122544 0 17412 0 128 0 10040 0 2961 0 153085 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 BENEFIT LIABILITY RECORDED IN THE FINANCIAL STATEMENTS PER PARTICIPANT AS OF DECEMBER 31, 2021, IS AS FOLLOWS: ERIK SHAW: $0 VICKI KELLEY: $505,994 KRISTEN BELLANGER: $322,587 JENNIFER WEBB: $376,428 ERIK SHAW PRESIDENT/CEO TO FUND LIFE INSURANCE POLICY X 4500000 4930024 0 1 1 KENNETH MILLER EXECUTIVE VP TO FUND LIFE INSURANCE POLICY X 3200000 3440185 0 1 1 8370209 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 11G OTHER PROFESSIONAL SERVICES 261,620. FORM 990, PART IX, LINE 24E TRAINING/DEVELOPMENT/EDUCATION 211,974. DEBIT/CREDIT EXPENSES 143,193. LOSS ON REPOS/OTHER 82,986. MISCELLANEOUS 57,508. 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 TX 0 0 FIVEPOINT CREDIT UNION FIVEPOINT INSURANCE AGENCY LLC PO BOX 1366 NEDERLAND TX 77627 611739967 INSURANCE TX 0 0 FIVEPOINT FINANCIAL SERVICES LLC