2021-11-15T23:01:07-06:00 2020-12-31 350921680 CROWE LLP 9600 Brownsboro Road Suite 400 Louisville KY 402413902 990 2020-01-01 610654642 Park Community Credit Union Inc PARK 5028156014 2515 Blankenbaker Parkway LOUISVILLE KY 40299 KAYE HALL CFO 2021-11-15 true KAYE HALL 999009999 Kim Scifres P01316095 5023263996 2020 2022-09-23 18:48:47Z James Spradlin 2515 Blankenbaker Parkway LOUISVILLE KY 40299 53014034 false X www.parkcommunity.com X 2013 KY Park Community Credit Union (the "Credit Union" or "Park" is a state chartered cooperative association organized for the purpose of promoting thrift among, and creating a source of credit for its members. 7 7 282 12 212678 297116 0 53484861 51516057 1575129 1497977 0 55059990 53014034 15231 30464 0 19610249 20202723 0 0 30637323 30652259 50262803 50885446 4797187 2128588 975232326 1121794262 889702366 1033184340 85529960 88609922 PARK COMMUNITY CREDIT UNION (THE "CREDIT UNION" OR "PARK") IS A STATE CHARTERED COOPERATIVE ASSOCIATION ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AMONG, AND CREATING A SOURCE OF CREDIT FOR ITS MEMBERS. false false PARK COMMUNITY CREDIT UNION (THE "CREDIT UNION" OR "PARK") IS A STATE CHARTERED COOPERATIVE ASSOCIATION ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AMONG, AND CREATING A SOURCE OF CREDIT FOR, ITS MEMBERS. THE CREDIT UNION PROVIDES MORTGAGE, VEHICLE AND OTHER CONSUMER LOANS TO ITS MEMBERSHIP. THE CREDIT UNION ALSO OFFERS A VARIETY OF ACCOUNTS FOR MEMBERS TO TRANSACT AND SAVE, INCLUDING SHARE AND SHARE DRAFT ACCOUNTS AND SHARE CERTIFICATES. AS A MEMBER-OWNED ORGANIZATION, THE CREDIT UNION STRIVES TO PROVIDE COMPETIVE INTEREST AND DIVIDEND RATES TO ITS MEMBERSHIP AND CONVENIENCE WAYS FOR MEMBERS TO THEIR ACCOUNTS, INCLUDING ONLINE AND MOBILE BANKING AND SHARED BRANCHING SERVICES. 0 false false false false false false true false true false false false true false true false false false false false false false false false false true false true false false false false false false false false false false false false false false true 109 0 282 true true true false false false false false false false X 7 7 false false false false true true false true true false true true false true true true true true true true false X SCOTT WHITMER 5028156011 2515 Blankenbaker Parkway Louisville KY 40299 Bobby Willoughby Chairman 1.0 X X 0 0 0 Joseph Ackerman CPA Secretary/Treasurer 1.0 X X 0 0 0 Mark Loyd Jr First Vice Chairman 1.0 X X 0 0 0 Phyllis Hughes 2nd Vice Chairman 1.0 X X 0 0 0 Dennis Munn Director 1.0 X 0 0 0 Penelope Gold Director 1.0 X 0 0 0 Thomas Hendrix Director 1.0 X 0 0 0 Andy Dickhut VP of Marketing 40.0 X 140302 0 11463 Anna Kaye Hall Chief Financial Officer (CFO) 40.0 X 212211 0 8020 Cheryl Standafer VP of Retail Operations 40.0 X 134394 0 11404 David Shadburne Executive Vice President 40.0 X 298179 0 28452 James Perkins SVP of Information Technology 40.0 X 112334 0 6799 James Spradlin President/CEO 40.0 X 476265 0 -61527 Jason Whitsell Chief Information Officer (CIO) 40.0 X 100164 0 1211 Jeff Thornton VP of Support Operations 40.0 X 113496 0 3922 Julia Blackwell-Aguilar VP of Lending 40.0 X 152108 0 4520 Lisa Bannon Chief Operations Officer 40.0 X 202137 0 29019 Melissa McGill VP OF FINANCE 40.0 X 143114 0 13903 Raymond Smith VP of Community Development 40.0 X 104806 0 2060 Sharon Williams Chief Human Resources Officer 40.0 X 169624 0 14825 Andrew Pope Mortgage Sales Manager 40.0 X 165850 0 13469 Doug Spalding Real Estate Loan Originator 40.0 X 176609 0 12423 Katherine McKune General Counsel 40.0 X 156044 0 19542 Keisha Deonarine Director of Philanthropy and Corporate Relations 40.0 X 130855 0 10169 Kirby Keith Roberts Regional Manager of Commercial Lending 40.0 X 153326 0 12302 3141818 0 141976 35 false true false INTERCONTINENTAL - VSA 5901 BROKENS SOUND PARKWAY SUITE 400 BOCA RATON FL 33487 WARRANTY SALES 645864 QSI INC 107 SCHULAR DR BARDSTOWN KY 40004 SECURITY/VARIOUS OTHER 624456 Mightily LLC 111 W MAIN ST LOUISVILLE KY 40202 MARKETING/ADVERTISING 576330 SHI INTERNATIONAL CORP PO BOX 952121 DALLAS TX 753952121 IT /COMPUTER SERVICES 570643 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 CORE PROCESSING SERVICES 556122 24 0 0 0 0 0 0 0 0 Interest on loans 522291 37785281 37785281 Fees and service charges 522190 12497219 12284541 212678 Credit Union owned life insurance 524113 534519 534519 Net sales of loans and securities AFS 522291 699038 699038 0 0 0 0 51516057 1497977 0 1497977 0 0 0 0 0 0 0 0 0 53014034 51303379 212678 1497977 30464 2433207 14164210 1330618 1218219 1056469 0 181110 131489 49000 693433 1269041 5083224 4197027 71209 108196 8491674 2519992 Provision for Loan Loss 4713162 Loan Servicing Expenses 2480019 Bad Debt Expense 424125 Dues and Subscriptions 155517 84041 50885446 14108592 29760504 53317931 80537052 3695474 18359308 0 0 0 0 802241580 792264987 2715537 2468505 54210002 21669104 32927746 32540898 19325486 112120739 111386 77447 15589708 25918018 341066 158306 30857820 27588498 975232326 1121794262 5073710 9264642 1986878 1787841 1528099 1713784 0 0 46316958 23892571 834796721 996525502 889702366 1033184340 X 85529960 88609922 85529960 88609922 975232326 1121794262 X 2128588 865771 85605 X false true X true false false true X 9903734 9903734 26143923 7722019 18421904 742359 321083 421276 17078533 13626002 3452531 341453 0 341453 32540898 Other Liabilities 9426602 Member share and savings accounts 987098900 996525502 53014034 0 0 53014034 0 0 53014034 50885446 0 0 50885446 0 0 50885446 Schedule D, Part IV, Line 2b Explanation of escrow agreement Park's escrow account consist of mortgage payments that consist of taxes and insurance that is included as payment for our mortgage loans. The taxes and insurance payments are held in the escrow account and then made on behalf of the members at the due date of the taxes and the insurance, respectively. METRO UNITED WAY 334 E BROADWAY LOUISVILLE KY 40202 610444680 501c3 10000 GENERAL SUPPORT 1 X true true X X X X false true false James Spradlin President/CEO 385416 0 62627 0 28222 0 -77121 0 15594 0 414738 0 0 0 Lisa Bannon Chief Operations Officer 152449 0 27642 0 22046 0 7382 0 21637 0 231156 0 0 0 Melissa McGill VP OF FINANCE 131996 0 8130 0 2988 0 5095 0 8808 0 157017 0 0 0 Julia Blackwell-Aguilar VP of Lending 141139 0 9530 0 1439 0 4520 0 0 0 156628 0 0 0 David Shadburne Executive Vice President 224746 0 47918 0 25515 0 8915 0 19537 0 326631 0 0 0 Sharon Williams Chief Human Resources Officer 138717 0 23119 0 7788 0 6022 0 8803 0 184449 0 0 0 Anna Kaye Hall Chief Financial Officer (CFO) 174843 0 26589 0 10779 0 7345 0 675 0 220231 0 0 0 Andy Dickhut VP of Marketing 129926 0 9000 0 1376 0 4636 0 6827 0 151765 0 0 0 Kirby Keith Roberts Regional Manager of Commercial Lending 120943 0 26911 0 5472 0 5166 0 7136 0 165628 0 0 0 Katherine McKune General Counsel 144883 0 9520 0 1641 0 5592 0 13950 0 175586 0 0 0 Andrew Pope Mortgage Sales Manager 160728 0 4210 0 912 0 5049 0 8420 0 179319 0 0 0 Doug Spalding Real Estate Loan Originator 71007 0 104958 0 644 0 4219 0 8204 0 189032 0 0 0 Schedule J, Part I, Line 1a Travel for companions All of the following had travel paid for by the credit union: Carol Willoughby - taxable over $600 - 1099Misc issued Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation Compensation Committee utilizes information from Compease Salary Administration Plan and Mercer, Inc engagement for Executive Compensation review. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan JAMES SPRADLIN SPLIT-DOLLAR LIFE INSURANCE PLAN CONTRACT FOR RETENTION/POLICY WRITTEN WITH A DEATH BENEFIT AND AN ANNUAL PAYOUT BEGINNING AT AGE 62 OF APPROXIMATELY $141,000 ANNUALLY. DAVID SHADBURNE SPLIT-DOLLAR LIFE INSURANCE PLAN CONTRACT FOR RETENTION/POLICY WRITTEN WITH A DEATH BENEFIT AND AN ANNUAL PAYOUT BEGINNING AT AGE 65 OF APPROXIMATELY $35,000 ANNUALLY. The following persons participated in a 457b Plan allowing employee contributions only up to the IRS annual limits. Balances are as listed below: Lisa Bannon $134K Anna K Hall $44K David Shadburne $143K Jim Spradlin $212K Sharon Williams $59K James Perkins balance is $0 after electing distribution of full balance upon his separation of employment June 2020. Form 990, Part VI, Line 6 Classes of members or stockholders The organization has members who have the right to participate in the organization's governance. Members of the organization have the right to elect the 7 members of the governing body/ board of directors, serving 3 year terms. The organization does not have classes of membership. All members have one share of the credit union and are entitled to one vote. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body See Form 990, Part VI, Line 6 narrative. Form 990, Part VI, Line 11b Review of form 990 by governing body The preparation of the Form 990 is led by the Chief Financial Officer and coordinated with other senior leadership individuals within the credit union. Once the Form 990 is prepared, it is reviewed by the Executive Vice President and Chief Executive Officer of the credit union. Form 990, Part VI, Line 12c Conflict of interest policy THE CREDIT UNION'S CONFLICT OF INTEREST POLICY APPLIES TO ALL DIRECTORS, MANAGEMENT OFFICIALS AND HIGHEST PAID EMPLOYEES. CONFLICTS OF INTEREST QUESTIONNAIRES WERE SENT TO ALL INTERESTED PERSONS TO IDENTIFY POTENTIAL OR ACTUAL CONFLICTS OF INTEREST. THE COMPLIANCE DIRECTOR REVIEWS THE COMPLETED QUESTIONNAIRES TO DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS. IF A PARTICULAR DIRECTOR HAS A CONFLICT OF INTEREST, THAT DIRECTOR WOULD NOT BE PERMITTED TO VOTE ON A TOPIC RELATED TO THE CONFLICT. Form 990, Part VI, Line 15a Process to establish compensation of top management official The salary plan used by the credit union for the top management official utilizes market salary data and job grade ranges. The credit union's compensation committee reviews and approves the compensation of the chief executive officer and documents deliberations and decision making regarding this compensation in the minutes of the compensation committee meeting. The compensation plan is updated annually through the use of a third party vendor to ensure it remains current. Form 990, Part VI, Line 15b Process to establish compensation of other employees The salary plan used by the credit union for all positions, including all officers and key employees, utilizes market salary and job grade ranges. The Compensation plan is updated annually through the use of a third Party vendor to ensure it remains current. The compensation committee reviews and approves the plan on an annual basis. Form 990, Part VI, Line 19 Required documents available to the public If a credit union's conflict of interest policy or governing document is specifically requested by a member, the member would be allowed to review the policy or document. Financial information for the credit union is available through the National Credit Union Administration's website and is posted in the offices of the credit union. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Other Comprehensive Income for Defined Benefit Pension Plans - 85605;