2022-11-03T15:37:56-05:00 2021-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2021-01-01 586032554 LGE COMMUNITY CREDIT UNION LGEC 7704240060 3100 CUMBERLAND BLVD ATLANTA GA 30339 CHRIS LEGGETT CEO 7704240060 2022-11-03 1 CHRIS LEGGETT 999009999 JOHN J MURNANE JR P03021572 3052328272 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z CHRIS LEGGETT 3100 CUMBERLAND BLVD ATLANTA GA 30339 90852333 0 3804 X WWW.LGECCU.ORG X 1951 GA PROVIDE SAVINGS AND LENDING ACTIVITIES TO MEMBER OWNERS OF THE COOPERATIVE 9 9 334 13 202471 0 0 0 72106218 75230325 4907449 6338236 0 0 77013667 81568561 143000 145000 0 0 26902209 26759290 0 0 0 36393975 34434287 63439184 61338577 13574483 20229984 1693361882 1989595139 1496318995 1779909284 197042887 209685855 PROVIDE SAVINGS AND LENDING ACTIVITIES TO MEMBER OWNERS OF THE COOPERATIVE. 0 0 INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 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 1 0 0 1 36944 0 1 334 1 1 1 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 0 X SEAN D FERRELL 7704212576 3100 CUMBERLAND BLVD ATLANTA GA 30339 RICHARD DIXON BOD MEMBER 1.00 X 0 0 0 FRANK S MYERS BOD MEMBER/SC MEMBER 1.00 X 0 0 0 MONTE F CAGLE BOD TREASURER 1.00 X 0 0 0 CHERYL BRAUND BOD MEMBER 1.00 X 0 0 0 CURT EARNEST BOD V. CHAIR/SC MEMBER 1.00 X 0 0 0 MICHAEL L SANSEVIRO BOD CHAIR 1.00 X 0 0 0 DENISE O'CONNELL BOD SECRETARY/SC CHAIR 1.00 X 0 0 0 ALLEN BISHOP BOD MEMBER 1.00 X 0 0 0 RON SUMPTER BOD MEMBER/SC MEMBER 1.00 X 0 0 0 SUSAN BROWNING SC MEMBER 1.00 X 0 0 0 BARRY JONES BOD MEMBER 1.00 X 0 0 0 CHRIS LEGGETT PRESIDENT/CEO 40.00 X 702589 0 58369 SEAN FERRELL SVP/CFO 40.00 X 306947 0 49369 JANET C WAGNER SVP/CAO 40.00 X 385600 0 29287 RODNEY GRIZZLE SVP/COO 40.00 X 305986 0 56188 MURALI KRISHNAN SVP/CIO 40.00 X 326622 0 42498 COLLIN KEE FINANCIAL ADVISOR 40.00 X 253473 0 33214 JUDY KINNEY SVP OPERATIONS 40.00 X 210058 0 19924 KEITH EDWARDS VP OF FINANCE 40.00 X 188376 0 26096 RYAN NAPIER VP OF HUMAN RESOURCES 40.00 X 193240 0 21060 THOMAS GARRETT VP OF CONTACT CENTER 40.00 X 179387 0 16034 3052278 0 352039 34 0 1 0 ALKAMI TECHNOLOGY 5601 GRANITE PARKWAY SUITE 120 PLANO TX 75024 ONLINE BANKING 1262476 JACK HENRY PO BOX 609 MONETT MO 65708 OPERATING SYSTEM 1083234 VISA DPA 8910 RIDGELINE BLVD HIGHLANDS RANCH CO 80129 DEBIT PROCESSING SERVICE 818949 METRO PLANNING 4233 HIRAM DOUGLASVILLE HWY POWDER SPRINGS GA 30127 CONTRACTOR SVSC. 631717 GO LLC 2074 PARK STREET HARTFORD CT 06106 ADVERTISING 562956 28 INCOME FROM LOANS 522100 48345675 48345675 FEE/OTHER INCOME 522100 26682179 26682179 FINANCE AND INSURANCE 520000 202471 202471 75230325 6447763 6447763 9174245 9283772 -109527 -109527 -109527 81568561 81366090 202471 0 X 125000 20000 2263455 16065626 2006393 5157784 1266032 24294 140053 1401024 1258090 12366875 3515387 256728 6271967 111371 998310 LOAN SERVICING 5112178 PROVISION FOR LOAN LOSS 2959823 MISCELLANEOUS EXPENSE 18187 61338577 15104081 13095543 100240414 67846360 3376487 6940954 11922702 12333278 1148841698 1199283579 1021481 1460543 47033830 20365146 21235996 26668684 310876679 531736282 9882527 35271839 16406983 16216089 54452834 78741988 1693361882 1989595139 12817571 36715062 47000000 35000000 1436501424 1708194222 1496318995 1779909284 X 0 0 0 0 197042887 209685855 197042887 209685855 1693361882 1989595139 20229984 -7587016 0 X X 0 1 X 1 0 5931423 5931423 16921773 7249175 9672598 9740045 3220588 6519457 14440589 9895383 4545206 26668684 REGULAR SHARES 628456738 MONEY MARKET 405184690 CERTIFICATES 110577703 SHARE DRAFTS 522854698 IRA 41120393 1708194222 X PART X, LINE 2: FEDERAL AND STATE TAX EXEMPTION: 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. 1 LGE COMMUNITY OUTREACH FOUNDATION INC 3100 CUMBERLAND BLVD ATLANTA GA 30339 262905697 501(C)(3) 125000 0 CHARITABLE CONTRIBUTION 1 SCHOLARSHIPS 4 20000 PART I, LINE 2: THE CREDIT UNION MAINTAINS RECORDS OF CONTRIBUTIONS. THE FOUNDATION WORKS WITH EMPLOYEES AND VOLUNTEERS OF LGE COMMUNITY CREDIT UNION AND RESIDENTS WITHIN COBB, CHEROKEE, FULTON AND PAULDING COUNTIES TO PLAN AND HOST FUND RAISING EVENTS TO RAISE MONIES FOR NON-PROFIT AGENCIES WITHIN THOSE COUNTIES. X 1 1 X X 0 1 0 CHRIS LEGGETT PRESIDENT/CEO 535389 0 167200 0 0 0 45500 0 12869 0 760958 0 0 0 JANET C WAGNER SVP/CAO 235600 0 0 0 150000 0 19507 0 9780 0 414887 0 0 0 MURALI KRISHNAN SVP/CIO 280603 0 39909 0 6110 0 39000 0 3498 0 369120 0 0 0 RODNEY GRIZZLE SVP/COO 267103 0 38883 0 0 0 45500 0 10688 0 362174 0 0 0 SEAN FERRELL SVP/CFO 267881 0 39066 0 0 0 39000 0 10369 0 356316 0 0 0 COLLIN KEE FINANCIAL ADVISOR 46535 0 206938 0 0 0 26000 0 7214 0 286687 0 0 0 JUDY KINNEY SVP OPERATIONS 190011 0 20047 0 0 0 12912 0 7012 0 229982 0 0 0 KEITH EDWARDS VP OF FINANCE 172311 0 16065 0 0 0 19455 0 6641 0 214472 0 0 0 RYAN NAPIER VP OF HUMAN RESOURCES 175352 0 17888 0 0 0 19500 0 1560 0 214300 0 0 0 THOMAS GARRETT VP OF CONTACT CENTER 162743 0 16644 0 0 0 14380 0 1654 0 195421 0 0 0 PART I, LINE 4B JANET C. WAGNER RECEIVED A 457(F) PAY OUT IN THE AMOUNT OF $150,000 DURING 2021. MURALI KRISHNAN RECEIVED A 457B PAYOUT IN THE AMOUNT OF $6,110. THE ORGANIZATION FUNDS LIFE INSURANCE POLICIES FOR CHRIS LEGGETT, JANET C. WAGNER, AND RODNEY GRIZZLE. THE POLICIES ARE OWNED BY THE EXECUTIVES. DURING LIFE, AND SUBJECT TO THE POLICY GENERATING SUFFICIENT VALUES, EACH PARTICIPANT CAN BORROW FROM THE POLICY. AT DEATH, THE ORGANIZATION RECOVERS ITS PREMIUMS PLUS INTEREST PLUS ADDITIONAL KEY-PERSON INSURANCE PROCEEDS. FURTHER DETAILS PROVIDED IN SCHEDULE L, PART V. CHRIS LEGGETT PRESIDENT/CEO TO FUND SPLIT DOLLAR LIFE INSURANCE PLAN X 3750000 7258752 0 1 1 JANET C WAGNER SVP/CAO TO FUND SPLIT DOLLAR LIFE INSURANCE PLAN X 1000000 1337733 0 1 1 LAURA KING EVP/COO TO FUND SPLIT DOLLAR LIFE INSURANCE PLAN X 1000000 631238 0 1 1 RODNEY GRIZZLE SVP/COO TO FUND SPLIT DOLLAR LIFE INSURANCE PLAN X 3100000 3105555 0 1 1 12333278 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 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. 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 LGECCU ENGAGED A PAID PREPARER, DOEREN MAYHEW, TO COMPLETE OUR FORM 990 FILING. UPON COMPLETION OF THE RETURN, IT WAS REVIEWED AND APPROVED BY EXECUTIVE MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 12C LGECCU MAINTAINS A CONFLICT OF INTEREST POLICY WITHIN ITS CODE OF ETHICS. THIS POLICY IS ENFORCED AT ALL TIMES AND REVIEWED PERIODICALLY BY OUR INTERNAL AUDIT DEPARTMENT. FORM 990, PART VI, SECTION B, LINE 15 PER OUR SALARY ADMIN POLICY: SALARY CHANGES REQUIRE APPROVAL BY THE CAO, HR MANAGEMENT OR THE PRESIDENT. SALARY CHANGES FOR SENIOR MANAGEMENT (VPS AND ABOVE) REQUIRE APPROVAL BY THE CAO AND THE PRESIDENT. SALARY CHANGES FOR THE PRESIDENT REQUIRE APPROVAL BY THE CHAIRMAN OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART IX, LINE 11G PROFESSIONAL & OUTSIDE SERVICES 1,401,024. 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. LGE INSURANCE SERVICES LLC 18 GEORGIA HERITAGE PL DALLAS GA 30060 272540699 INSURANCE SALES GA -21086 889582 LGE COMMUNITY CREDIT UNION LGE COMMUNITY OUTREACH FOUNDATION INC 3100 CUMERLAND BLVD ATLANTA GA 30339 262905697 COMMUNITY OUTREACH GA 501(C)(3) LINE 7 LGE COMMUNITY CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 LGE COMMUNITY OUTREACH FOUNDATION INC B 125000 ACTUAL