2021-05-14T08:06:15-05:00 2020-12-31 910189318 MOSS ADAMS LLP 601 W RIVERSIDE AVENUE STE 1800 SPOKANE WA 99201 990 2020-01-01 626039479 EASTMAN CREDIT UNION EAST 4232298200 PO BOX 1989 KINGSPORT TN 37662 KELLY PRICE PRESIDENT & CEO 4232298200 2021-05-13 1 KELLY PRICE 999009999 EMINA O CRESSWELL CPA P01217304 5097472600 2021-05-13 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z KELLY PRICE PO BOX 1989 KINGSPORT TN 37662 273574497 0 X WWW.ECU.ORG X 1934 TN OPERATED DURING 2020 AS A STATE CHARTERED CREDIT UNION WHOSE PURPOSE IS (CONTINUED ON SCHEDULE O)TO BE THE PREFERRED FINANCIAL INSTITUTION IN THE COMMUNITIES WE SERVE BY PROVIDING FINANCIAL PRODUCTS AND SERVICES WHICH ADD VALUE TO MEMBERS, GUIDED BY CREDIT UNION CO-OPERATIVE VALUES AND SERVICE EXCELLENCE EXPECTATIONS. 9 8 1003 18 700614 0 0 0 242187616 269461956 8871726 2316386 209908 209925 251269250 271988267 0 1006234 0 0 61364379 66144415 0 0 0 120589440 128153203 181953819 195303852 69315431 76684415 5099588309 6139596788 4446344784 5409549664 653243525 730047124 X OPERATED DURING 2020 AS A STATE CHARTERED CREDIT UNION WHOSE PURPOSE IS TO BE THE PREFERRED FINANCIAL INSTITUTION IN THE COMMUNITIES WE SERVE BY PROVIDING FINANCIAL PRODUCTS AND SERVICES WHICH ADD VALUE TO MEMBERS, GUIDED BY CREDIT UNION (CONTINUED ON SCHEDULE O)CO-OPERATIVE VALUES AND SERVICE EXCELLENCE EXPECTATIONS. 0 0 OPERATED DURING 2020 AS A STATE CHARTERED MUTUALLY OWNED CREDIT UNION THAT PROMOTED THRIFT BY MAINTAINING ACCOUNTS AND ISSUING SHARES RESULTING IN SUPERIOR VALUE. SERVED 261,167 MEMBERS WITH A VARIETY OF DEPOSIT PRODUCTS TOTALING $5,326,571,774. OPERATED DURING 2020 AS A STATE CHARTERED MUTUALLY OWNED CREDIT UNION THAT MADE LOANS TO ITS MEMBERS AT REASONABLE RATES OF INTEREST. MAINTAINED A LOAN PORTFOLIO COMPOSED OF CONSUMER, MORTGAGE, HOME EQUITY, VISA AND MEMBER BUSINESS LOANS THAT TOTALED $4,991,140,317. INVESTED ANY SURPLUS NOT REQUIRED FOR LOANS TO EXERCISE THOSE FUNCTIONS DESCRIBED IN THE LAW OF THE STATE OF TENNESSEE AUTHORIZING THE ORGANIZATION OF CREDIT UNIONS THEREBY FURNISHING OTHER COOPERATIVE FINANCIAL SERVICES TO MEMBERS. 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 402035 0 1 1003 1 1 1 0 0 0 0 0 0 0 X 9 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X CAROLINE SULLINS 4235787584 2021 MEADOWVIEW LANE KINGSPORT TN 37660 JEFF ANDERSON DIRECTOR 2.00 X 0 0 0 GARY BASS DIRECTOR 1.00 X 0 0 0 STEVE CRAWFORD DIRECTOR 2.00 X 0 0 0 KYLE MACIONE DIRECTOR 2.00 X 0 0 0 JENNIFER WOLFE DIRECTOR 2.00 X 0 0 0 E WAYNE KIRK CHAIRMAN OF THE BOARD 5.00 X X 0 0 0 NORRIS SNEED VICE CHAIRMAN OF THE BOARD 3.00 X X 0 0 0 JENNIFER STEWART SECRETARY/TREASURER OF THE BOARD 2.00 X X 0 0 0 KELLY PRICE PRESIDENT, CEO 40.00 X X 650473 0 74162 DARRELL DINSMORE SVP, INFORMATION TECHNOLOGY 40.00 X 369234 0 61983 TAMMY LATTURE SVP, MEMBER SERVICE/LENDING 40.00 X 351562 0 67561 TONJA FISH VICE PRESIDENT, CFO 40.00 X 358647 0 53193 DEBRA BRIDWELL SVP, MARKETING/FACILITIES 40.00 X 343050 0 52985 MATT WIMBERLEY VP, LEGAL/GENERAL COUNSEL 40.00 X 270171 0 46659 JEREMIAH LOUNDS VP, OPERATIONS 40.00 X 246764 0 44245 MARK MILLWOOD VP, HUMAN RESOURCES 40.00 X 242917 0 43904 THOMAS KENNEDY DIRECTOR BUSINESS SERVICES 40.00 X 221752 0 46787 ROBIN WILKERSON CONTROLLER 40.00 X 209180 0 42139 DOLLY LINKOUS DIRECTOR MORTGAGE LENDING 40.00 X 202081 0 39359 LINDA COX DIRECTOR FACILITIES 40.00 X 196035 0 22493 DEBORAH BYERS REGIONAL DIRECTOR 40.00 X 185695 0 28652 OLAN O JONES JR FORMER CEO/PRESIDENT 40.00 X 464804 0 17387 4312365 0 641509 76 1 1 0 GOINS RASH CAIN INC 130 REGIONAL PARK DRIVE KINGSPORT TN 37660 CONTRACTING/BUILDING SERVICES 6838876 NCR CORPORATION 3095 SATELITE BOULEVARD BUILDING 8 DULUTH GA 30096 ONLINE BANKING/BILL PAY SERVICES 2308429 DIEBOLD INC PO BOX 71358 CLEVELAND OH 441910558 ATM SERVICING 1891138 FISERV SOLUTIONS INC PO BOX 934057 ATLANTA GA 311934057 SOFTWARE SOLUTIONS SERVICES 1862548 J A STREET AND ASSOCIATES PO BOX 725 BLOUNTVILLE TN 37617 CONTRACTING/BUILDING SERVICES 1591091 60 LOAN INTEREST INCOME 522100 220775356 220775356 FEES AND CHARGES 522100 46958348 46257734 700614 OTHER INCOME 522100 1728252 1728252 269461956 2431600 2431600 209925 0 209925 209925 209925 314049 1156967 311193 1275037 2856 -118070 -115214 -115214 271988267 268761342 700614 2526311 1006234 3277510 42728882 4581088 11624979 3931956 109943 149435 359311 2783286 8942501 7842272 4559646 187296 296498 69293985 6731627 334149 DEPOSIT & LENDING SVCS 14963254 PROVISION FOR LOAN LOSS 11600000 195303852 29346207 41612740 453905183 924041750 4431897175 4991140317 21658049 7987468 141953560 54803085 77699526 87150475 23201787 28999891 61880382 58664147 5099588309 6139596788 59790109 74210321 7430527 8767569 4379124148 5326571774 4446344784 5409549664 X 0 0 0 0 653243525 730047124 653243525 730047124 5099588309 6139596788 X 76684415 -13942 133126 X 0 1 X 1 0 1000 0 0 1000 1000 1 TENNESSEE CREDIT UNION LEAGUE PAC PO BOX 21550 CHATTANOOGA TN 37424 462728395 1000 0 PART I-A, LINE 1: EASTMAN CREDIT UNION CONTRIBUTES $250 PER QUARTER TO THE TENNESSEE CREDIT UNION LEAGUE PAC. 0 1 X 21364746 21364746 77642147 26678631 50963516 2538962 1903692 635270 35340695 26220762 9119933 5067010 5067010 87150475 STATE CHARTERED CREDIT UNION DEPOSITS 5326571774 5326571774 X PART IV, LINE 2B: ECU MAINTAINS ESCROW ACCOUNTS ON THE LOANS IN THE MORTGAGE PORTFOLIO FOR PAYMENT OF PROPERTY TAXES AND HOMEOWNER'S INSURANCE. THE ACCOUNTS ARE TREATED AS OTHER DEPOSIT ACCOUNTS AND EARN INTEREST AT THE REGULAR SHARE ACCOUNT RATE AS LONG AS THE ESCROW BALANCE IS POSITIVE. AMOUNTS ARE DEPOSITED MONTHLY AND PAYMENTS ARE MADE AS NECESSARY DURING THE YEAR. ESCROWS ARE "TRUED" ONCE A YEAR TO PREVENT EXCESS OR CORRECT SHORT-FALLS. PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES. MANAGEMENT OF THE CREDIT UNION BELIEVES THERE WAS NO UNRELATED BUSINESS INCOME TAX (UBIT) FOR THE YEARS ENDED DECEMBER 31, 2020 OR 2019. HOWEVER, THE CREDIT UNION MAY BE SUBJECT TO UBIT, AS THERE IS UNCERTAINTY REGARDING WHETHER THE CREDIT UNION SHOULD PAY INCOME TAXES ON CERTAIN TYPES OF NET TAXABLE INCOME FROM ACTIVITIES AS FURTHER DISCUSSED IN NOTE 9 OF FINANCIAL STATEMENTS. IT IS THE CREDIT UNION'S POLICY TO RECORD ANY PENALTIES OR INTEREST ARISING FROM FEDERAL OR STATE TAXES AS A COMPONENT OF NONINTEREST EXPENSE. THE CREDIT UNION FILES EXEMPT ORGANIZATION AND UNRELATED BUSINESS INCOME TAX RETURNS WITH THE FEDERAL JURISDICTION. NOTE 9 - THE INTERNAL REVENUE SERVICE (IRS) AND CERTAIN STATE TAXING AUTHORITIES ARE CURRENTLY REVISITING WHAT, IF ANY, PRODUCTS AND SERVICES PROVIDED BY CREDIT UNIONS ARE SUBJECT TO UBIT. THERE IS CURRENTLY VERY LITTLE GUIDANCE IN THE IRC ON WHAT ACTIVITIES SHOULD BE SUBJECT TO UBIT. THE IRS HAS INDICATED THEY ARE STUDYING THE ISSUE AND MAY ISSUE ADDITIONAL GUIDANCE. AS A RESULT, AT THIS TIME THERE IS UNCERTAINTY REGARDING WHETHER THE CREDIT UNION SHOULD PAY INCOME TAX ON CERTAIN TYPES OF NET TAXABLE INCOME FROM ACTIVITIES THAT MAY BE CONSIDERED BY TAXING AUTHORITIES AS UNRELATED TO THE PURPOSE FOR WHICH THE CREDIT UNION WAS GRANTED NONTAXABLE STATUS. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR CERTAIN POTENTIAL TAXABLE ACTIVITIES. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES DEEMED TO BE UNRELATED TO THE CREDIT UNION'S NONTAXABLE STATUS IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S CONSOLIDATED FINANCIAL POSITION OR RESULTS OF OPERATIONS. 1 BALLAD HEALTH FOUNDATION 1905 AMERICAN WAY SUITE 102 KINGSPORT TN 37660 581594191 501(C)(3) 92589 BLOOD MOBILE SPONSOR, GENERAL CONTRIBUTION, AND EVENT SPONSORSHIP BARTER THEATRE PO BOX 867 ABINGDON VA 242120867 546000120 501(C)(3) 30000 ANNUAL SPONSORSHIP BIRTHPLACE OF COUNTRY MUSIC ALLIANCE - BRISTOL RHYTHM & ROOTS REUNION 416 STATE STREET BRISTOL TN 37620 621580405 501(C)(3) 10000 FESTIVAL SPONSOR CITY OF KINGSPORT 225 WEST CENTER STREET KINGSPORT TN 376604285 626000323 GOVERNMENT 30000 PROJECT SPONSORSHIP COVENANT COUNSELING CENTER PO BOX 1323 KINGSPORT TN 37662 471983943 501(C)(3) 7500 GENERAL CONTRIBUTION ETSU FOUNDATION PO BOX 70721 JOHNSON CITY TN 376141710 237092731 501(C)(3) 92500 PROJECT ASSISTANCE FAMILY PROMISE OF GREATER JOHNSON CITY PO BOX 205 JOHNSON CITY TN 37605 621808323 501(C)(3) 20000 GENERAL CONTRIBUTION FRIENDS IN NEED HEALTH CENTER INC 1105 WEST STONE DRIVE KINGSPORT TN 37660 621541637 501(C)(3) 12500 ANNUAL FUNDRAISER SPONSOR GREATER KINGSPORT FAMILY YMCA 1840 MEADOWVIEW PARKWAY KINGSPORT TN 37660 581564232 501(C)(3) 20000 EVENT SPONSORSHIP AND GENERAL ASSISTANCE HAWKINS COUNTY BOARD OF EDUCATION 200 N DEPOT STREET ROGERSVILLE TN 37857 620757264 GOVERNMENT 5300 GENERAL ASSISTANCE HEARTISANS MARKETPLACE 112 W METHVIN STREET SUITE C LONGVIEW TX 75601 471135093 501(C)(3) 10000 LEADERSHIP LONGVIEW PROJECT SPONSORSHIP HOLSTON ANNUAL CONFERENCE OF THE UNITED - CAMP BAYS MOUNTAIN PO BOX 850 ALCOA TN 37701 621112387 501(C)(3) 20539 KITCHEN EQUIPMENT HOPE HELP OUR POTENTIAL EVOLVE INC PO BOX 7632 KINGSPORT TN 37664 461500067 501(C)(3) 6000 ASSIST WITH ORGANIZATION'S RENT (1 YEAR) JOHNSON CITY CHAMBER OF COMMERCE 603 E MARKET STREET JOHNSON CITY TN 37601 620252764 GOVERNMENT 53826 EVENT SPONSORSHIP AND GENERAL ASSISTANCE JUNIOR LEAGUE OF KINGSPORT - CHILDREN EXCEEDING EXPECTATIONS 418 SHELBY STREET KINGSPORT TN 37660 620634742 501(C)(3) 12000 GENERAL CONTRIBUTION KEYSTONE DENTAL CARE INC 603 BERT STREET JOHNSON CITY TN 37601 621762300 501(C)(3) 9000 GENERAL CONTRIBUTION KINGSPORT AREA CHAMBER OF COMMERCE 400 CLINCHFIELD STREET SUITE 100 KINGSPORT TN 37660 620446834 501(C)(6) 21325 EVENT SPONSORSHIP AND GENERAL ASSISTANCE KINGSPORT CHAMBER FOUNDATION INC 400 CLINCHFIELD STREET SUITE 100 KINGSPORT TN 37660 581453565 501(C)(3) 7250 EVENT SPONSORSHIP AND GENERAL ASSISTANCE KPLAY SPORTS COUNCIL INC 400 CLINCHFIELD STREET SUITE 100 KINGSPORT TN 37660 412045125 501(C)(3) 50000 PROJECT SPONSORSHIP LOCAL BUSINESS RECOVERY FUND 603 E MARKET ST JOHNSON CITY TN 37601 856165344 GOVERNMENT 15000 LOCAL BUSINESS TRUST SUPPORT FOR COVID-19 RELIEF LONGVIEW ARBORETUM & NATURE CENTER 706 W COTTON STREET LONGVIEW TX 75604 461383538 501(C)(3) 26000 EVENT SPONSORSHIP AND PROJECT SPONSORSHIP NORTHEAST STATE COMMUNITY COLLEGE FOUNDATION 2425 HIGHWAY 75 BLOUNTVILLE TN 37617 621265326 501(C)(3) 10000 CAPITAL CAMPAIGN PETWORKS ANIMAL SERVICES 3101 E STONE DR KINGSPORT TN 37660 371624021 501(C)(3) 50000 CAPITAL CAMPAIGN PROVIDENCE MEDICAL CLINIC OF KINGSPORT 441 CLAY STREET KINGSPORT TN 37660 264547646 501(C)(3) 35000 GENERAL SUPPORT REGIONAL EAST TEXAS FOOD BANK 3201 ROBERTSON RD TYLER TX 75701 752222686 501(C)(3) 6318 EVENT SPONSORSHIP AND GENERAL ASSISTANCE ROTARY CLUB OF KINGSPORT PO BOX 993 KINGSPORT TN 37662 626075827 501(C)(3) 25000 FOUNDATION CONTRIBUTION-IN MEMORY OF F. ROLSTON SALVATION ARMY OF BRISTOL 137 MARTIN LUTHER KING JR BLVD BRISTOL TN 37620 580660607 501(C)(3) 10000 RED KETTLE MATCH SALVATION ARMY OF JOHNSON CITY PO BOX 1715 JOHNSON CITY TN 37605 580660607 501(C)(3) 10000 RED KETTLE MATCH SALVATION ARMY OF KINGSPORT 505 DALE STREET KINGSPORT TN 37660 580660607 501(C)(3) 10000 RED KETTLE MATCH SECOND HARVEST FOOD BANK OF NORTHEAST TENNESSEE 1020 JERICHO DRIVE KINGSPORT TN 37663 621303822 501(C)(3) 16318 EVENT SPONSORSHIP AND GENERAL ASSISTANCE SYMPHONY OF THE MOUNTAINS 1200 E CENTER STREET KINGSPORT TN 37660 620534228 501(C)(3) 10000 SEASON SPONSOR TOWN OF ABINGDON - ABINGDON MUSIC EXPERIENCE PO BOX 789 ABINGDON VA 24212 546001096 501(C)(3) 10000 JANUARY JAMS SPONSOR TUSCULUM COLLEGE 60 SHILOH ROAD GREENEVILLE TN 37743 620484185 501(C)(3) 20000 MEEN CENTER FOR SCIENCE & MATH UNITED WAY OF BRISTOL TNVA 315 8TH STREET BRISTOL TN 37621 620476656 501(C)(3) 7000 GENERAL CORPORATE CONTRIBUTION UNITED WAY OF EAST TN HIGHLANDS 1907 N ROAN STREET SUITE 409 JOHNSON CITY TN 37601 626001105 501(C)(3) 15000 GENERAL CONTRIBUTION UNITED WAY OF GREATER KINGSPORT 301 LOUIS STREET SUITE 201 KINGSPORT TN 37660 620481461 501(C)(3) 20600 EVENT SPONSORSHIP AND GENERAL ASSISTANCE UNITED WAY OF GREATER LONGVIEW 310 SOUTH FREDONIA ST LONGVIEW TX 75601 750998908 501(C)(3) 8000 EVENT SPONSORSHIP AND GENERAL ASSISTANCE UNITED WAY OF HAWKINS COUNTY 405 SOUTH ARMSTRONG ROAD SUITE 8 ROGERSVILLE TN 37857 620731420 501(C)(3) 7000 GENERAL CONTRIBUTION UNITED WAY OF SOUTHWEST VIRGINIA PO BOX 644 ABINGDON VA 24212 540718860 501(C)(3) 42000 GENERAL CORPORATE CONTRIBUTION AND COVID-19 RELIEF FUND 39 1 PART I, LINE 2: GRANTS WILL BE RESEARCHED BY THE ECU STAFF, APPROVED BY THE CEO/PRESIDENT AND REPORTED TO THE BOARD OF DIRECTORS ANNUALLY. ECU MAINTAINS RECORDS SUBSTANTIATING AMOUNTS PAID TO QUALIFYING ORGANIZATIONS AND CONFIRMS THE EXEMPT STATUS OF THE GRANTEE. ECU DOES NOT MONITOR THE FUNDS USE, AS USE OF FUNDS IS AT THE DISCRETION OF THE GRANTEE. X 1 1 X X X X 0 0 0 KELLY PRICE PRESIDENT, CEO 534946 0 111915 0 3612 0 50600 0 23562 0 724635 0 0 0 DARRELL DINSMORE SVP, INFORMATION TECHNOLOGY 297933 0 69369 0 1932 0 44600 0 17383 0 431217 0 0 0 TAMMY LATTURE SVP, MEMBER SERVICE/LENDING 281930 0 66020 0 3612 0 43600 0 23961 0 419123 0 0 0 TONJA FISH VICE PRESIDENT, CFO 290120 0 66595 0 1932 0 43600 0 9593 0 411840 0 0 0 DEBRA BRIDWELL SVP, MARKETING/FACILITIES 269573 0 62808 0 10669 0 43600 0 9385 0 396035 0 0 0 MATT WIMBERLEY VP, LEGAL/GENERAL COUNSEL 217065 0 52266 0 840 0 23698 0 22961 0 316830 0 0 0 JEREMIAH LOUNDS VP, OPERATIONS 198195 0 47579 0 990 0 21284 0 22961 0 291009 0 0 0 MARK MILLWOOD VP, HUMAN RESOURCES 194196 0 46789 0 1932 0 21893 0 22011 0 286821 0 0 0 THOMAS KENNEDY DIRECTOR BUSINESS SERVICES 189103 0 29037 0 3612 0 22826 0 23961 0 268539 0 0 0 ROBIN WILKERSON CONTROLLER 171662 0 27239 0 10279 0 23210 0 18929 0 251319 0 0 0 DOLLY LINKOUS DIRECTOR MORTGAGE LENDING 172003 0 26319 0 3759 0 20452 0 18907 0 241440 0 0 0 LINDA COX DIRECTOR FACILITIES 166630 0 24615 0 4790 0 15634 0 6859 0 218528 0 0 0 DEBORAH BYERS REGIONAL DIRECTOR 156604 0 24357 0 4734 0 15176 0 13476 0 214347 0 0 0 OLAN O JONES JR FORMER CEO/PRESIDENT 110690 0 353704 0 410 0 17100 0 287 0 482191 0 0 0 PART I, LINE 1A THE CREDIT UNION'S EXPENSE POLICY INCLUDES AN ACCOUNTABLE PLAN WHEREBY BUSINESS EXPENSES ARE PAID BY THE CREDIT UNION AND WHEREBY ANY PERMISSIBLE TRAVEL FOR COMPANIONS PERMITTED BY STATE AND FEDERAL CREDIT UNION REGULATIONS ARE INCLUDED AS INCOME TO THE OFFICIAL ON A FORM 1099. FORM 990, PART VI, SECTION A, LINE 6 EASTMAN CREDIT UNION IS A MEMBER OWNED NON-PROFIT TAX EXEMPT CORPORATION IN WHICH EACH MEMBER OWNS AN EQUAL SHARE. FORM 990, PART VI, SECTION A, LINE 7A AT THE ANNUAL MEETING OF THE MEMBERS, EASTMAN CREDIT UNION'S MEMBERS ELECT INDIVIDUALS FROM THE CREDIT UNION'S MEMBERSHIP TO SERVE ON THE BOARD OF DIRECTORS FOR THREE YEAR TERMS. IN THE EVENT THERE IS A VACANCY ON THE BOARD, THE DIRECTORS MAY APPOINT AN INTERIM MEMBER TO SERVE OUT THE TERM OF THE VACANT BOARD POSITION. FORM 990, PART VI, SECTION A, LINE 7B EASTMAN CREDIT UNION'S MEMBERS HAVE THE RIGHT TO VOTE, ON A PER CAPITA BASIS, ON DISSOLUTION OF THE CREDIT UNION, MERGER WITH ANOTHER CREDIT UNION, EXPULSION OF A MEMBER, CONVERSION FROM A STATE TO A FEDERALLY CHARTERED CREDIT UNION, CONVERSION TO ANOTHER TYPE OF FINANCIAL INSTITUTION, OR TO OVERRULE A DECISION OF THE CREDIT UNION'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B EASTMAN CREDIT UNION'S FORM 990 IS PREPARED BY AN OUTSIDE CPA FIRM AND THEN REVIEWED BY ECU'S CEO, CFO, GENERAL COUNSEL, VP OF HUMAN RESOURCES, AND CONTROLLER. A COMPLETE COPY OF THIS FORM 990 IS PROVIDED TO ALL MEMBERS OF THE ECU BOARD OF DIRECTORS BEFORE FILING THE FORM. FORM 990, PART VI, SECTION B, LINE 12C PRIOR TO EMPLOYMENT ALL EMPLOYEES AND OFFICERS OF EASTMAN CREDIT UNION ARE REQUIRED TO DISCLOSE ALL POTENTIAL CONFLICTS OF INTEREST AND MUST AGREE TO UPDATE THE DISCLOSURE IN THE EVENT ANY CONFLICTS ARISE SUBSEQUENT TO EMPLOYMENT. PRIOR TO SERVING ON THE BOARD OF DIRECTORS, ALL PROSPECTIVE BOARD MEMBERS ARE REQUIRED TO DISCLOSE ALL POTENTIAL CONFLICTS OF INTEREST. ALL EMPLOYEES AND MEMBERS OF THE BOARD OF DIRECTORS ARE ALSO REQUIRED TO COMPLETE AN UPDATED DISCLOSURE AT LEAST ANNUALLY. IT IS THE RESPONSIBILITY OF THE PRESIDENT OR CHAIR OF THE BOARD OF DIRECTORS TO DETERMINE THE RESOLUTION OF ALL ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. MEMBERS OF THE BOARD OF DIRECTORS DO NOT PARTICIPATE IN THE DELIBERATIONS OR VOTING ON MATTERS WHERE AN ACTUAL OR APPARENT CONFLICT OF INTEREST EXISTS. FORM 990, PART VI, SECTION B, LINE 15 EASTMAN CREDIT UNION ANNUALLY PARTICIPATES IN EXECUTIVE COMPENSATION SURVEYS OF REPUTABLE COMPENSATION CONSULTANTS BY PROVIDING CURRENT BASE AND TOTAL COMPENSATION INFORMATION OF THE ECU OFFICERS. THE CONSULTING GROUPS FOCUS ON COMPARATIVE COMPENSATION INFORMATION WITHIN THE CREDIT UNION INDUSTRY. AS A RESULT OF PARTICIPATION, ECU RECEIVES DATA COMPILATION REPORTS AND ANALYSES FROM THE STUDIES CONDUCTED BY THESE COMPENSATION EXPERTS. RANKING AND COMPARATIVE INFORMATION FOR EACH RELEVANT POSITION IS PROVIDED IN BOTH STUDIES. ECU STUDIES AND UTILIZES PEER GROUP INFORMATION RELATIVE TO ECU'S ASSET SIZE AS BENCHMARK DATA. EASTMAN CREDIT UNION WORKS WITH CONSULTANTS FROM EACH RESPECTIVE CONSULTING FIRM TO OBTAIN SPECIAL DATA CUTS, CLARIFYING INFORMATION, AND ADVICE REGARDING MATCHING OF ECU POSITIONS TO BENCHMARK JOBS, INDUSTRY AVERAGE INCREASE IN EXECUTIVE COMPENSATION, AND OTHER INFORMATION RELATED TO EXECUTIVE BASE AND TOTAL COMPENSATION FACTORS. THE VICE PRESIDENT OF HUMAN RESOURCES PROVIDES A RECAP OF COMPENSATION STUDY INFORMATION IN A PRESENTATION FORMAT DURING A MEETING OF THE COMPENSATION COMMITTEE (SUBCOMMITTEE OF THE BOARD OF DIRECTORS, CHAIRED BY THE BOARD CHAIR). THE COMPENSATION COMMITTEE REVIEWS THE DATA AND DISCUSSES AND PRESENTS QUESTIONS RELATED TO THE INFORMATION PROVIDED. WHEN NECESSARY, THE VP OF HUMAN RESOURCES WILL FOLLOW UP WITH COMPENSATION CONSULTANTS FOR ADDITIONAL INFORMATION TO BE PRESENTED FOR DISCUSSION AND CONSIDERATION. THE COMPENSATION COMMITTEE APPROVES AN AVERAGE SALARY INCREASE FOR THE CEO'S DIRECT REPORTS AND AUTHORIZES THE CEO TO AWARD INDIVIDUAL SALARY INCREASES ACCORDINGLY. FINAL AWARDS ARE DOCUMENTED AND SIGNED BY BOTH THE CEO AND THE CHAIR OF THE COMPENSATION COMMITTEE. THIS DOCUMENT IS SUBMITTED TO PAYROLL VIA THE VP OF HUMAN RESOURCES. THE COMPENSATION COMMITTEE MEETS IN EXECUTIVE SESSION TO FURTHER CONSIDER COMPENSATION DATA FOR THE CEO. FINAL AWARD IS DOCUMENTED AND SIGNED AS APPROVED BY THE CHAIR OF THE COMPENSATION COMMITTEE. THIS DOCUMENT IS SUBMITTED TO PAYROLL VIA THE VP OF HUMAN RESOURCES. ORIGINAL DOCUMENTS ARE MAINTAINED ON FILE IN THE HUMAN RESOURCES DEPARTMENT. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND OTHER RECORDS AND POLICIES OF ECU ARE NOT GENERALLY MADE AVAILABLE TO THE PUBLIC. ECU MEMBERS ARE ENTITLED TO INSPECT CERTAIN RECORDS OF THE CREDIT UNION AFTER COMPLYING WITH THE REQUIREMENTS OF STATE LAW. FINANCIAL INFORMATION IS POSTED ON ECU'S WEBSITE AND PUBLISHED IN THE ANNUAL REPORT. FORM 990, PART XI, LINE 9: NET DEFINED BENEFIT PENSION PLAN COST ADJUSTMENT 619,734. NET POST-RETIREMENT BENEFIT PLAN COST ADJUSTMENT -486,608. ECU TITLE SERVICES LLC 201 S WILCOX DR KINGSPORT TN 37660 464133177 TITLE AND ESCROW SERVICES TN 571381 4394311 EASTMAN CREDIT UNION