2022-11-03T19:54:35-05:00 2021-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2021-01-01 880067875 IBEW PLUS CREDIT UNION IBEW 7028714746 1900 SOUTH JONES BLVD LAS VEGAS NV 89146 CAROL SCHUMACHER CEO 7022575944 2022-10-31 1 CAROL SCHUMACHER 999009999 VALENTINO CREUS CPA P01054153 8189549700 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z PLUS CREDIT UNION CAROL SCHUMACHER 1900 SOUTH JONES BLVD LAS VEGAS NV 89146 8803198 0 X WWW.PLUSCU.ORG X CREDIT UNION 1983 NV A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 8 37 11 10579 0 0 0 2794883 2763831 583953 556885 41315 56988 3420151 3377704 0 0 0 0 1715593 1731343 0 0 0 1584998 1641367 3300591 3372710 119560 4994 107836262 115817912 94690149 103295576 13146113 12522336 X A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, PLUS CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 THE LAS VEGAS ELECTRICAL FEDERAL CREDIT UNION WAS FORMED IN 1952, IN LAS VEGAS, NEVADA WITH 100 MEMBERS OF I.B.E.W. LOCAL #357 AS THE CHARTER MEMBERS OF THE CREDIT UNION. IBEW PLUS CREDIT UNION WAS THE FIRST UNION-REPRESENTED CREDIT UNION IN NEVADA. OVER THE YEARS, WE HAVE BECOME A FULL-SERVICE FINANCIAL INSTITUTION OFFERING OUR MEMBERS THE HIGHEST LEVEL OF SERVICE, RESPECT, AND SECURITY. OUR LENDING PROGRAM ENCOMPASSES ALL LENDING AREAS UNDER WHICH OUR MEMBERS MAY NEED CONSUMER CREDIT DURING THEIR MEMBERSHIP WITH IBEW PLUS CREDIT UNION, SUCH AS AUTO LOANS, HOME LOANS, AND HOME EQUITY LOANS. CONVERSELY, WHERE OUR MEMBERS NEED A SAVINGS VESSEL THAT GIVES THE SAFETY AND SECURITY OF BANKING DEPOSIT PRODUCTS, IBEW PLUS CREDIT UNION OFFERS A WIDE VARIETY OF INTEREST BEARING CONSUMER DEPOSIT ACCOUNTS FROM CHECKING ACCOUNTS THROUGH IRA TIME DEPOSITS AND ALL THINGS IN BETWEEN. OUR DRIVING PRINCIPLE IS TO BE AVAILABLE FOR OUR MEMBERS/OWNER'S FINANCIAL NEEDS WHILE PROVIDING AN ENVIRONMENT WHERE OUR MEMBER/OWNER'S FINANCIAL NEEDS COMPLIMENT AND ASSIST OTHER MEMBER/OWNER'S NEEDS AND REQUIREMENTS IN A PURELY COOPERATIVE ENVIRONMENT. ACCESSIBILITY TO THEIR FUNDS IS HIGH ON OUR MEMBERS' WISH LIST. WITH OUR SERVICES, THEY CAN ACCESS THEIR FUNDS THROUGH THE AUTOMATED CLEARING HOUSE, BY CHECK, BY ATM/DEBIT CARDS, PHONE, HOME BANKING, MOBILE ACCESS, ETC. THE CREDIT UNION STRIVES TO KEEP ITS DIVIDEND RATES WITHIN THE HIGHER END OF THE MARKET TO HELP MEMBERS IMPROVE THEIR WEALTH. DIFFERENT SAVINGS PRODUCTS ARE AVAILABLE FOR DIFFERENT LEVELS OF SAVINGS. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1316 0 1 37 1 1 1 0 0 0 0 0 0 0 0 0 X 9 8 1 0 0 0 1 1 1 1 1 0 1 1 1 0 0 1 1 1 0 X X CAROL SCHUMACHER CEO 7028714746 1900 SOUTH JONES BLVD LAS VEGAS NV 89146 ROBERT E CANNON CHAIRPERSON 1.00 X 0 0 0 SAM HORNBECK VICE CHAIRPERSON 1.00 X 0 0 0 WENDY SIEDLECKI SECRETARY 1.00 X 0 0 0 MICHAEL FRITCHLEY BOARD MEMBER 1.00 X 0 0 0 RICHARD OSOSKI BOARD MEMBER 1.00 X 0 0 0 DONNA BRADLEY BOARD MEMBER 1.00 X 0 0 0 ROBERT DUKE CANNON BOARD MEMBER 1.00 X 0 0 0 JEFFREY WALLENFANG BOARD MEMBER 1.00 X 0 0 0 MICHAEL WISNER SUPV CMTE CHAIRPERSON 0.50 X 0 0 0 MICHAEL KREIMEYER SUPV CMTE MEMBER 0.50 X 0 0 0 GARY MAUGER SUPV CMTE MEMBER 0.50 X 0 0 0 WILLIAM GONZALEZ SUPV CMTE MEMBER 0.50 X 0 0 0 CAROL SCHUMACHER PRESIDENT/CEO 40.00 X 282725 0 22085 KELLY ETHIER EVP/CLO 40.00 X 152124 0 20258 STEPHANIE CALACAL EVP 40.00 X 149710 0 18307 DIANE CAMARDELLA VP OF COMPLIANCE 40.00 X 127870 0 23252 712429 0 83902 4 0 1 0 CO-OP FINANCIAL SERVICES 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 VISA NETWORK CONNECTION 169789 JACK HENRY & ASSOCIATES INC PO BOX 609 MONNETT MO 65708 NETWORK SYSTEM & MAINTENANCE 125494 2 LOANS TO MEMBERS 522100 1771150 1771150 OTHER OPERATING INCOME 522100 566443 559893 6550 FEE INCOME 522100 426238 422209 4029 2763831 383358 383358 5599021 5425494 173527 173527 173527 PROVISION FOR LOAN & LEASE LOSSES 522100 56988 56988 56988 3377704 3367125 10579 0 712429 673549 44125 200649 100591 4012 40297 172406 4703 232642 502114 229364 133551 123839 20666 MISC OPERATING EXPENSE 84746 LOAN SERVICING FEES 67135 OPERATING FEES 24198 LOSS ON DISPOSITION OF 1694 3372710 983785 590824 21486460 19611063 221345 178346 7421067 4157695 3362465 3263372 23026372 26118656 58309717 64439291 446118 1616360 107836262 115817912 188629 185971 94501520 103109605 94690149 103295576 X 0 0 0 0 13146113 12522336 13146113 12522336 107836262 115817912 4994 -628771 0 X X 0 1 X 1 0 258131 258131 3870141 1447137 2423004 1053149 709019 344130 2239646 2001539 238107 3263372 LOANS & LEASES 42420111 F OTHER INVESTMENTS 57296 F DEPOSITS IN BANKS AND OTHER CUS 21721000 C CORP CREDIT UNION CAP 240884 C 64439291 MEMBER SHARES & DEPOSITS 103109605 103109605 X 3376010 0 3376010 1694 1694 3377704 3371016 0 3371016 1694 1694 3372710 PART X, LINE 2: FASB ASC 740-10-65, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE CREDIT UNION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE LIKELY THAN NOT" OF BEING SUSTAINED "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS DEEMED TO NOT MEET THE MORE-LIKELY-THAN-NOT THRESHOLD SHOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEAR ENDED DECEMBER 31, 2021 AND 2020, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON SALE OF ASSETS RECLASSIFIED BETWEEN REVENUE AND EXPENSE 1,694. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON SALE OF ASSETS RECLASSIFIED BETWEEN REVENUE AND EXPENSE 1,694. X X X 0 0 0 CAROL SCHUMACHER PRESIDENT/CEO 266141 0 15000 0 1584 0 9634 0 12451 0 304810 0 0 0 KELLY ETHIER EVP/CLO 141764 0 10000 0 360 0 13000 0 7258 0 172382 0 0 0 STEPHANIE CALACAL EVP 139470 0 10000 0 240 0 4350 0 13957 0 168017 0 0 0 DIANE CAMARDELLA VP OF COMPLIANCE 116838 0 10000 0 1032 0 12708 0 10544 0 151122 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 ROBERT CANNON AND ROBERT "DUKE" CANNON - FAMILY RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 6 IBEW PLUS CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS, AND OPERATED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS TO ITS MEMBERS. IBEW PLUS CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF IBEW PLUS CREDIT UNION IS COMPRISED OF VOLUNTEER MEMBERS WHO ARE DIRECTLY ELECTED BY ITS MEMBERS. EACH MEMBER OF THE GOVERNING BOARD SERVES FOR A PERIOD AS PRESCRIBED BY OUR BY-LAWS. FORM 990, PART VI, SECTION A, LINE 7B AT THE END OF EACH TERM OF THE BOARD MEMBERS, ELECTIONS ARE HELD AND BOARD MEMBERS ARE ELECTED BY THE MEMBERS OF THE CREDIT UNION PURSUANT TO ITS BY-LAWS. MEMBER VOTES ARE ALSO REQUIRED TO RATIFY DECISIONS DEALING WITH REORGANIZATIONS AS IN THE CASE OF MERGER OR DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11B THE OFFICERS REVIEW THE INFORMATION AND COMPARE IT TO THE INFORMATION PRESENTED. ANY NARRATIVES ARE READ FOR ACCURACY. A COPY OF THE 990 WILL ALSO BE PROVIDED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12 THE CREDIT UNION DOES NOT HAVE A FORMAL WRITTEN CONFLICT OF INTEREST POLICY. OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE A CONFLICT OF INTEREST WHEN IT ARISES. FORM 990, PART VI, SECTION B, LINE 15 OFFICERS ARE VOLUNTEERS. KEY EMPLOYEE COMPENSATION IS BROUGHT FORWARD BY THE BOARD TREASURER AND IS SET BY THE BOARD. THEY UTILIZE TWO INDUSTRY SURVEYS AND IT IS COMPLETED DURING AN EXECUTIVE SESSION IN NOVEMBER. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE DISPLAYED AT EACH BRANCH. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.