2022-11-09T11:53:42-06:00 2021-12-31 741699466 FITTS ROBERTS KOLKHORST & CO PC 5718 WESTHEIMER STE 800 HOUSTON TX 77057 990 2021-01-01 741260543 TEXAS DOW ECU TEXA 9792485633 1001 FM 2004 LAKE JACKSON TX 77566 JASON SCHNEIDER SVP & CFO 9792485633 2022-11-02 1 JASON SCHNEIDER 999009999 ROGER L DUNCAN CPA P01087367 7132605230 2022-11-02 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z JASON SCHNEIDER 1001 FM 2004 LAKE JACKSON TX 77566 293506619 0 X WWW.TDECU.ORG X 1955 TX INCREASE ECONOMIC WELL-BEING OF OUR MEMBERS THROUGH NOT-FOR-PROFIT, COOPERATIVE FINANCIAL SERVICES. 10 10 1074 0 3496623 0 0 0 270574904 283607184 5247776 5479286 75047 127031 275897727 289213501 0 0 0 0 83005357 90421007 0 0 0 162389910 139932105 245395267 230353112 30502460 58860389 4100727242 4542030485 3753123220 4135806768 347604022 406223717 INCREASE ECONOMIC WELL-BEING OF OUR MEMBERS THROUGH NOT-FOR-PROFIT, COOPERATIVE FINANCIAL SERVICES. 0 0 TDECU IS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE WITH MORE THAN 366,068 MEMBERS. TDECU CURRENTLY HAS 35 MEMBER SERVICE LOCATIONS, AND OFFERS A COMPLETE SELECTION OF CONVENIENT AND COMPETITIVE PRODUCTS AND SERVICES. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 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 1 0 0 1 117679 0 1 1074 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 X 10 10 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X X JASON SCHNEIDER SVP CFO 9792485633 1001 FM 2004 LAKE JACKSON TX 77566 DAN BUCHE DIRECTOR 4.00 X 64500 0 170 GEORGE HORNBACK DIRECTOR 4.00 X 23500 0 304 PEGGY MILTENBERGER DIRECTOR 4.00 X 31000 0 0 DICK SMITH DIRECTOR 4.00 X 66500 0 18550 ED ZINGLEMAN DIRECTOR 4.00 X 43000 0 433 EDWARD SPEED DIRECTOR 4.00 X 46000 0 304 JACK ANTONINI DIRECTOR 4.00 X 14000 0 7202 ROLAND HENDRICKS DIRECTOR 4.00 X 62000 0 170 FRANK COE DIRECTOR 4.00 X 35500 0 0 ROBERT BALDWIN III DIRECTOR 4.00 X 12000 0 12546 ANITA SEHGAL DIRECTOR 4.00 X 40500 0 0 DAVID SIKORA DIRECTOR 4.00 X 36500 0 0 ELIZABETH R KILLINGER DIRECTOR 4.00 X 39500 0 0 STEVEN J MURRAY DIRECTOR 4.00 X 35500 0 13963 MANUEL S RODRIGUEZ DIRECTOR 4.00 X 2500 0 4607 RHONDA PAVLICEK EVP - CFO 40.00 X 510166 0 28077 MURSHID KHAN SVP - CIO 40.00 X 409387 0 28001 MICHAEL PLAIA SVP - CRO 40.00 X 145626 0 1270 JASON OSTERHAGE EVP - CEO 40.00 X 301395 0 13109 ISAAC JOHNSON PRESIDENT & CEO 40.00 X 524461 0 17357 JASON SCHNEIDER SVP - CHIEF OF STAFF 40.00 X 369321 0 33753 ANTHONY WARDEN VP - OPERATIONS 40.00 X 259361 0 26194 QIARA SUGGS SVP - CHRO 40.00 X 91135 0 2711 TODD LUCAS VP BUSINESS SERVICES 40.00 X 193615 0 24111 MARGARET HARTENSTINE VP - WHOLESALE LENDING 40.00 X 183299 0 13517 BRANDY JEAN PHILLIPS VP - MORTGAGE LENDING 40.00 X 232221 0 32037 BONITA TUCKER VP - SYSTEMS OPERATIONS 40.00 X 239692 0 21594 MARK RICHARD COOL VP - MARKETING 40.00 X 236063 0 30200 KEITH HRNYAK VP - CONTROLLER 40.00 X 237220 0 15729 GERALD A EICHHORST VP - DIGITAL EXPERIENCE 40.00 X 247607 0 25330 JOSHUA DEAN BRIAN VP - STRATEGIC PARTNERSHIP 40.00 X 181539 0 24899 ANDRES CUETO VP - CORPORATE REAL ESTATE 40.00 X 275701 0 31259 MICHELL AZBELL VP HR BUSINESS CONSULTING 40.00 X 218234 0 19251 DANNY HURT VP LEARNING AND DEVELOPMEN 40.00 X 212549 0 16214 CHANTA ROSENSTOCK VP RETAIL 40.00 X 216200 0 26978 MARIE BONNETT VP - GENERAL COUNSEL 40.00 X 253618 0 28961 ETHAN PACK VP - ENTERPRISE ARCHITECTURE 40.00 X 235238 0 28636 JOHN GALLO VP - ENT INFRASTRUCTURE 40.00 X 232664 0 26841 KYLE BRADEN VP - WEALTH MGMT 40.00 X 223146 0 25789 ALEXIS EIDSON VP - STRATEGY 40.00 X 204257 0 10869 DEVSHREE GOLECHA VP - DATA 40.00 X 196261 0 24623 BROOKE BROWN VP - INSURANCE SVC 40.00 X 178701 0 9864 CHERYL BRUCE CUELLAR MORTGAGE LOAN OFFICER 3 40.00 X 299834 0 21846 WES GARNER PRIN WEALTH STRATEGIST 40.00 X 297371 0 28996 BETHANY DAVIS SR WEALTH ADVISOR 40.00 X 290923 0 29394 PATRICK BEALE WEALTH ADVISOR 40.00 X 286459 0 31699 LAURA DOREMUS MORTGAGE LOAN OFFICER 4 40.00 X 283254 0 19476 STEPHANIE SHERRODD FORMER PRESIDENT & CEO 40.00 X 3692245 0 18832 ALEXIS ALEJANDRO DE LA CRUZ FORMER SVP - CGSMO 40.00 X 621205 0 11511 THOMAS DALLAM FORMER CPO 40.00 X 652254 0 15595 ANDREI SIMESCU FORMER CCEO 40.00 X 689775 0 22897 DAN TABRAHAM FORMER CCRO 40.00 X 642328 0 25642 CASEY WILCOX FORMER PRESIDENT TDECU HLDG 40.00 X 707852 0 16053 INGEBORG BURCH FORMER VP - PRODUCT MANAGEMENT 40.00 X 198554 0 21720 16023231 0 909084 169 1 1 0 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CALL CENTER, STATEMENT PROCESSING, INCEN 10486763 VISA 900 METRO CENTER BLVD FOSTER CITY CA 94404 VISA DPS 7719401 CARDTRONICS 2050 W SAM HOUSTON PARKWAY SOUTH HOUSTON TX 77042 ATMS PROVIDED BY CARDTRONICS WITH TDECU 2658578 LANVERA LTD 112 WRANGLER DRIVE SUITE 150 COPPELL TX 75019 MONTHLY NOTICES/FORMS/ESTATEMENTS 2190403 BUCEES 327 FM 2004 LAKE JACKSON TX 77566 FUEL DISCOUNTS/CC INTERCHANGE/ATM TRANSA 1944099 34 INTEREST ON LOANS 522100 198948002 198948002 FEE INCOME 522100 63627857 62217501 1410356 OTHER OPERATING INCOME 522100 21031325 18945058 2086267 283607184 1103933 1103933 8163540 504931 3459185 833933 4704355 -329002 4375353 4375353 K-1 FROM BUSINESS FINA 900099 203693 203693 K-1 FROM CURQL FUND I 900099 -76662 -76662 127031 289213501 280110561 3496623 5606317 7395855 60499673 2809658 14662944 5052877 4451577 357315 17194057 8170940 7403279 1287167 7643269 1233506 26813615 8537397 695161 OTHER SERVICE FEES 34752409 PROVISION FOR LOAN LOSS 15605391 LOAN SERVICING EXPENSE 5787022 230353112 14480238 13599571 311124513 617830124 3415823 4305611 3609852657 3729174811 102471820 48746868 52160646 53724952 24485350 30422448 9961987 6680395 75246028 86292573 4100727242 4542030485 53503876 61905698 1470116 495358 20668319 14778692 215480059 185429479 3462000850 3873197541 3753123220 4135806768 X 0 0 0 0 347604022 406223717 347604022 406223717 4100727242 4542030485 58860389 -240694 0 X X 0 1 X 1 0 0 1 X 18010234 18010234 40363090 18693430 21669660 4966379 2501460 2464919 2899742 2899742 36232375 27551978 8680397 53724952 MEMBERS' SHARES AND SAVINGS ACCOUNTS 3873197541 3873197541 X 289415467 0 289415467 -201966 -201966 289213501 230922804 329001 329001 230593803 -240691 -240691 230353112 PART IV, LINE 1B: CUSTODIAL FUNDS IN ESCROW REPRESENT PAYMENTS FOR PRINCIPAL AND INTEREST, AS WELL AS FOR TAXES AND INSURANCE. THESE AMOUNTS ARE HELD IN ESCROW, WITH A CORRESPONDING LIABILITY RECORDED UNTIL THE DATE THAT SUCH FUNDS ARE RELEASED BY THE CREDIT UNION FOR THEIR INTENDED PURPOSE. THE AUDITED FINANCIAL STATEMENT OFFSETS THE ESCROW AND AGENCY FUNDS BY THE AMOUNT OF THE SEGREGATED SPECIAL BANK ACCOUNTS AND EXCLUDES THOSE ACCOUNTS FROM CORPORATE ASSETS. THIS RETURN INCLUDES THE SEGREGATED CASH ACCOUNTS IN FORM 990, PART X ON LINES 1 AND 2 AND DISCLOSES THE ESCROW ACCOUNT BALANCES ON LINE 21. PART IV, LINE 2B: CUSTODIAL FUNDS IN ESCROW REPRESENT PAYMENTS FOR PRINCIPAL AND INTEREST, AS WELL AS FOR TAXES AND INSURANCE. THESE AMOUNTS ARE HELD IN ESCROW, WITH A CORRESPONDING LIABILITY RECORDED UNTIL THE DATE THAT SUCH FUNDS ARE RELEASED BY THE CREDIT UNION FOR THEIR INTENDED PURPOSE. THE AUDITED FINANCIAL STATEMENT OFFSETS THE ESCROW AND AGENCY FUNDS BY THE AMOUNT OF THE SEGREGATED SPECIAL BANK ACCOUNTS AND EXCLUDES THOSE ACCOUNTS FROM CORPORATE ASSETS. THIS RETURN INCLUDES THE SEGREGATED CASH ACCOUNTS IN FORM 990, PART X ON LINES 1 AND 2 AND DISCLOSES THE ESCROW ACCOUNT BALANCES ON LINE 21. PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. TEXAS DOW EMPLOYEES CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN AN ISSUE FOR MANY YEARS. IN 2007, THE INTERNAL REVENUE SERVICE ("IRS") ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA ("TAM") TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS, THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL CONDITION OR RESULTS OF OPERATIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: K-1 FROM BUSINESS FINANCIAL ALLIANCE SYSTEMS 203,693. K-1 FROM CURQL FUND I LLLP -76,662. LOSS ON SALE OF ASSETS -329,001. ROUNDING 4. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON SALE OF ASSETS 329,001. PART XII, LINE 4B - OTHER ADJUSTMENTS: NET CHANGE IN UNREALIZED GAIN ON SECURITIES -240,695. ROUNDING 4. X X X 1 1 X X X X X 1 1 0 STEPHANIE SHERRODD FORMER PRESIDENT & CEO 201115 0 289800 0 3201330 0 11600 0 7232 0 3711077 0 0 0 CASEY WILCOX FORMER PRESIDENT TDECU HLDG 171750 0 101967 0 434135 0 8665 0 7388 0 723905 0 0 0 ANDREI SIMESCU FORMER CCEO 150298 0 120328 0 419149 0 11600 0 11297 0 712672 0 0 0 DAN TABRAHAM FORMER CCRO 150720 0 111000 0 380608 0 11600 0 14042 0 667970 0 0 0 THOMAS DALLAM FORMER CPO 152754 0 119640 0 379860 0 8353 0 7242 0 667849 0 0 0 ALEXIS ALEJANDRO DE LA CRUZ FORMER SVP - CGSMO 125165 0 120500 0 375540 0 2539 0 8972 0 632716 0 0 0 ISAAC JOHNSON PRESIDENT & CEO 394231 0 89965 0 40265 0 11600 0 5757 0 541818 0 0 0 RHONDA PAVLICEK EVP - CFO 313165 0 139810 0 57191 0 11600 0 16477 0 538243 0 0 0 MURSHID KHAN SVP - CIO 247453 0 118060 0 43874 0 6077 0 21924 0 437388 0 0 0 JASON SCHNEIDER SVP - CHIEF OF STAFF 218312 0 56090 0 94919 0 11422 0 22331 0 403074 0 0 0 WES GARNER PRIN WEALTH STRATEGIST 24950 0 15021 0 257400 0 11600 0 17396 0 326367 0 0 0 CHERYL BRUCE CUELLAR MORTGAGE LOAN OFFICER 3 20752 0 1394 0 277688 0 9292 0 12554 0 321680 0 0 0 BETHANY DAVIS SR WEALTH ADVISOR 24950 0 17177 0 248796 0 11600 0 17794 0 320317 0 0 0 PATRICK BEALE WEALTH ADVISOR 24950 0 14952 0 246557 0 13946 0 17753 0 318158 0 0 0 JASON OSTERHAGE EVP - CEO 138923 0 100000 0 62472 0 5815 0 7294 0 314504 0 0 0 ANDRES CUETO VP - CORPORATE REAL ESTATE 189525 0 68229 0 17947 0 9909 0 21350 0 306960 0 0 0 LAURA DOREMUS MORTGAGE LOAN OFFICER 4 12773 0 875 0 269606 0 13422 0 6054 0 302730 0 0 0 ANTHONY WARDEN VP - OPERATIONS 186229 0 39714 0 33418 0 9595 0 16599 0 285555 0 0 0 MARIE BONNETT VP - GENERAL COUNSEL 203596 0 28524 0 21498 0 12339 0 16622 0 282579 0 0 0 GERALD A EICHHORST VP - DIGITAL EXPERIENCE 179427 0 31214 0 36966 0 9078 0 16252 0 272937 0 0 0 MARK RICHARD COOL VP - MARKETING 178432 0 35314 0 22317 0 9765 0 20435 0 266263 0 0 0 BRANDY JEAN PHILLIPS VP - MORTGAGE LENDING 167692 0 42668 0 21861 0 11376 0 20661 0 264258 0 0 0 ETHAN PACK VP - ENTERPRISE ARCHITECTURE 192377 0 24070 0 18791 0 10210 0 18426 0 263874 0 0 0 BONITA TUCKER VP - SYSTEMS OPERATIONS 174591 0 29842 0 35259 0 11199 0 10395 0 261286 0 0 0 JOHN GALLO VP - ENT INFRASTRUCTURE 176829 0 26148 0 29687 0 11358 0 15483 0 259505 0 0 0 KEITH HRNYAK VP - CONTROLLER 169424 0 39943 0 27853 0 5648 0 10081 0 252949 0 0 0 KYLE BRADEN VP - WEALTH MGMT 185481 0 6 0 37659 0 9873 0 15916 0 248935 0 0 0 CHANTA ROSENSTOCK VP RETAIL 164299 0 28579 0 23322 0 6722 0 20256 0 243178 0 0 0 MICHELL AZBELL VP HR BUSINESS CONSULTING 146008 0 40397 0 31829 0 9392 0 9859 0 237485 0 0 0 DANNY HURT VP LEARNING AND DEVELOPMEN 152693 0 35087 0 24769 0 7200 0 9014 0 228763 0 0 0 DEVSHREE GOLECHA VP - DATA 153561 0 19007 0 23693 0 8705 0 15918 0 220884 0 0 0 INGEBORG BURCH FORMER VP - PRODUCT MANAGEMENT 131137 0 36360 0 31057 0 6410 0 15310 0 220274 0 0 0 TODD LUCAS VP BUSINESS SERVICES 148211 0 25341 0 20063 0 9387 0 14724 0 217726 0 0 0 ALEXIS EIDSON VP - STRATEGY 161866 0 27506 0 14885 0 8116 0 2753 0 215126 0 0 0 JOSHUA DEAN BRIAN VP - STRATEGIC PARTNERSHIP 136782 0 22291 0 22466 0 8768 0 16131 0 206438 0 0 0 MARGARET HARTENSTINE VP - WHOLESALE LENDING 136347 0 21905 0 25047 0 3981 0 9536 0 196816 0 0 0 BROOKE BROWN VP - INSURANCE SVC 117861 0 38194 0 22646 0 7641 0 2223 0 188565 0 0 0 PART I, LINE 1B THE ORGANIZATION GROSSED UP PAYMENTS THAT ARE OUT OF THE ORDINARY (E.G. SERVICE AWARDS, RELOCATION, ETC.) SO THAT THE PAYMENT WILL BE TAX-NEUTRAL TO THE RECIPIENT. THE ORGANIZATION HAS A POLICY FOR EXPENSE REIMBURSEMENTS AND REQUIRES RECEIPTS AND PROOF OF EXPENSES PRIOR TO REIMBURSING. PART I, LINES 4A-B SEVERANCE PACKAGE: STEPHANIE SHERRODD $ 630,000 CASEY WILCOX $ 394,688 ANDY SIMESCU $ 377,125 DAN TABRAHAM $ 351,813 THOMAS DALLAM $ 348,647 ALEX DE LA CRUZ $ 348,150 ANTHONY HOLMES $ 82,082 KATHRYN LANCELOTTA $ 58,312 TIFFANY SYLVESTER $ 30,000 AARON SODERBERG $ 27,780 BOB JONES $ 22,100 JOSE MENDOZA $ 21,850 TRACY FIERRO $ 6,000 PEGGY BACKMAN $ 3,575 457(F) PLAN 2021 PURCHASE PAYMENTS: NONE FORM 990, PART VI, SECTION A, LINE 6 ALL MEMBERS HAVE THE RIGHT TO PARTICIPATE IN THE ELECTION OF THE GOVERNING BODY. MEMBERS DO NOT HAVE THE RIGHT TO APPROVE SIGNIFICANT DECISIONS OF THE GOVERNING BODY. ALL MEMBERS RECEIVE A SHARE OF THE ORGANIZATION'S NET ASSETS UPON DISSOLUTION. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE BOARD OF DIRECTORS BY THE USE OF ELECTRONIC DEVICE, ABSENTEE BALLOT OR MAIL BALLOT. FORM 990, PART VI, SECTION B, LINE 11B THE TAX RETURN WILL BE REVIEWED BY THE SVP/CFO AND CONTROLLER. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS, DIRECTORS AND MANAGERS MUST REPORT ANNUAL ACKNOWLEDGEMENT OF ANY POTENTIAL CONFLICT OF INTEREST AS INDICATED BY TDECU'S BUSINESS ETHICS POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION PROCESS FOR THE CEO INCLUDES A COMPENSATION REVIEW THAT IS CONDUCTED BY AN OUTSIDE CONSULTANT USING EXTERNAL MARKET DATA. THE RESULTS ARE SUBMITTED TO A COMPENSATION COMMITTEE THAT THEN REVIEWS AND RECOMMENDS PAY ADJUSTMENTS BASED ON MARKET AND CEO PERFORMANCE. THE COMPENSATION COMMMITTEE IS COMPRISED OF BOARD MEMBERS. THE COMPENSATION PROCESS FOR TOP MANAGEMENT INCLUDES A COMPENSATION REVIEW THAT IS CONDUCTED BY AN OUTSIDE CONSULTANT USING EXTERNAL MARKET DATA. THE RESULTS ARE SUBMITTED TO CEO AND SVPS FOR REVIEW AND RECOMMENDATIONS ON PAY ADJUSTMENTS BASED ON MARKET POSITION AND PERFORMANCE. AT RISK PAY IS REVIEWED AND APPROVED BY THE CEO. FORM 990, PART VI, SECTION C, LINE 19 MONTHLY FINANCIAL STATEMENTS ARE PUBLICLY DISPLAYED IN EACH BRANCH OFFICE. ARTICLES OF INCORPORATION AND BYLAWS ARE AVAILABLE UPON REQUEST BY ANY MEMBER. FORM 990, PART XII, LINE 2C: THE PROCESS BY WHICH THE AUDIT COMMITTEE OVERSEES THE AUDIT OF THE FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT DID NOT CHANGE FROM THE PRIOR YEAR. TDECU INSURANCE AGENCY LLC 1001 FM 2004 LAKE JACKSON TX 77566 260901021 INSURANCE AGENCY TX 411415 6910582 TDECU HOLDINGS LLC TDECU HOLDINGS LLC 1001 FM 2004 LAKE JACKSON TX 77566 453582513 HOLDING COMPANY TX -756415 10911244 TEXAS DOW ECU TDECU WEALTH ADVISORS LLC 1001 FM 2004 LAKE JACKSON TX 77566 453581914 MANAGEMENT TX 0 0 TEXAS DOW ECU LOAN ORIGINATION ACQUISITION NETWORK LLC 1001 FM 2004 LAKE JACKSON TX 77566 462758520 CONSULTING TX 0 24291 TEXAS DOW ECU BRAZORIA COUNTY BUSINESS CENTER DRIVE LLC 2500 FANNIN ST HOUSTON TX 77002 843393843 CORPORATE ACTIVITY TX 0 0 TEXAS DOW ECU