2021-10-18T09:00:09-05:00 2020-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2020-01-01 751253045 LONE STAR CREDIT UNION LONE 2143279367 7508 FERGUSON RD DALLAS TX 75228 BRIAN L HARPER CFO 2142178122 2021-10-17 1 BRIAN HARPER XXX-XX-XXXX P01076394 3052328272 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z REBECCA A REED 7508 FERGUSON RD DALLAS TX 75228 7527272 0 X LONESTARCU.ORG X 1967 TX PROVIDE FINANCIAL SERVICES FOR MEMBERS IN OUR COMMUNITY CHARTER FIELD OF MEMBERSHIP. 7 7 42 7 30474 11688 0 0 6845942 7118859 639382 408413 0 0 7485324 7527272 0 0 0 0 2746491 2842747 0 0 0 3659066 3355842 6405557 6198589 1079767 1328683 121887110 140002674 111997707 128789526 9889403 11213148 PROVIDE FINANCIAL SERVICES FOR MEMBERS IN OUR COMMUNITY CHARTER FIELD OF MEMBERSHIP. 0 0 PROVIDE FINANCIAL SERVICES FOR MEMBERS INCLUDING CONSUMER LOANS, CHECKING ACCOUNTS, AND SHARE SAVINGS ACCOUNTS. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 2260 0 1 42 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 0 0 1 1 1 1 1 X BRIAN L HARPER 2142178122 7508 FERGUSON RD DALLAS TX 75228 WAYNE PRICE BOARD CHAIRPERSON 1.00 X 0 0 0 MARKI HOLMES BOARD VICE CHAIRPERSON 1.00 X 0 0 0 JACK SMITH BOARD SECRETARY/TREASURER 1.00 X 0 0 0 KIMBERLY MARSZALEK DIRECTOR 1.00 X 0 0 0 RYAN HOLLOWAY DIRECTOR 1.00 X 0 0 0 JERRY CLANCY DIRECTOR 1.00 X 0 0 0 GRAHAM SWEENEY DIRECTOR 1.00 X 0 0 0 REBECCA REED CEO 50.00 X 194767 0 11402 BRIAN HARPER CFO 50.00 X 122699 0 18742 MARCY PHILLIPS COO 50.00 X 118792 0 17092 LEIGHANN CARSON CHEIF ADMINISTRATIVE OFFICER 50.00 X 135941 0 17767 572199 0 65003 4 0 1 0 PSCU 560 CARILLON PKWY SAINT PETERSBURG FL 33716 CREDIT AND DEBIT PROCESSING 555223 DBSI 6950 W MORELOS PL STE 1 CHANDLER AZ 85226 CONSTRUCTION SERVICE 265281 SOFTCHOICE 16609 COLLECTIONS CENTER DR CHICAGO IL 60693 NETWORK AND COMPUTER SUPPORT 195649 CFM INC 6950 W MORELOS PL STE 1 CHANDLER AZ 85226 BUSINESS EQUIPMENT 165518 4 LOAN INCOME 522100 4472428 4472428 FEE INCOME 522100 2615957 2615957 FINANCE AND INSURANCE 520000 30474 30474 7118859 408413 408413 7527272 7496798 30474 0 483494 1821056 78537 299765 159895 43598 26130 102639 79834 944395 555039 283264 11583 31764 466090 221441 44914 LOAN SERVICING EXPENSE 375153 PROVISION FOR LOAN LOSS 130637 MISC 39361 6198589 1358236 1442247 16225354 27874924 328821 297227 92092 93535613 102648143 1015624 842654 6553857 3399134 2911177 3154723 3004134 34258 34258 3473893 3616406 121887110 140002674 49715 -1174461 49847 42770 111898145 129921217 111997707 128789526 X 0 0 0 0 9889403 11213148 9889403 11213148 121887110 140002674 1328683 -4452 -486 0 X 0 0 0 0 1 X 607132 607132 3121499 1597495 1524004 614472 352462 262010 2210754 1449177 761577 3154723 MEMBER SHARE ACCOUNTS 129921217 129921217 X PART IV, LINE 2B: AS A LOAN SERVICER, THE CREDIT UNION RECEIVES PRINCIPAL PAYMENTS, INTEREST PAYMENTS, TAX PAYMENTS AND INSURANCE PAYMENTS AND THEN REMITS THESE FUNDS TO THE APPLICABLE THIRD PARTIES ON BEHALF OF THE BORROWERS. 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. X X 0 1 0 REBECCA REED CEO 194767 0 0 0 0 0 7632 0 3770 0 206169 0 0 0 LEIGHANN CARSON CHEIF ADMINISTRATIVE OFFICER 135941 0 0 0 0 0 5611 0 12156 0 153708 0 0 0 PART I, LINE 4B THE CREDIT UNION'S CEO, REBECCA A. REED, PARTICIPATES IN AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." ALTHOUGH THE IRS REQUIRES REPORTING IN PART II OF SCHEDULE L 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. REBECCA A REED CEO TO FUND SPLIT DOLLAR LIFE INSURANCE PLAN X 140000 92092 0 1 1 92092 SCHEDULE 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 1 THE BOARD HAS DELEGATED INVESTMENT PURCHASE AND INTEREST RATE RISK AUTHORITY TO COMMITTEES. THERE ARE WRITTEN POLICIES GUIDING ACTIVITY. FORM 990, PART VI, SECTION A, LINE 6 ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS MAY NOMINATE DIRECTOR CANDIDATES BY PRESENTING 1% OF MEMBERSHIP SIGNATURES WITH A VOTE AT THE NEXT 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. EACH MEMBER HAS ONE VOTE ON ANY ISSUE. FORM 990, PART VI, SECTION B, LINE 11B THE CFO IS DESIGNATED WITH THE RESPONSIBILITY OF REVIEWING AND APPROVING THE RETURN WITH INPUT FROM OTHER EXECUTIVE OFFICERS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS VOTES ON CEO'S SALARY BASED ON THIRD PARTY DATA AND CAO RECOMMENDATIONS. THE CEO EVALUATES ALL OTHER EXECUTIVES BASED ON THIRD PARTY SALARY DATA. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS ARE AVAILABLE BY WRITTEN REQUEST TO THE CEO. QUARTERLY FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV.