2021-11-08T09:23:20-06:00 2020-12-31 232108173 RKL LLP 1330 BROADCASTING ROAD PO BOX 7008 WYOMISSING PA 196106008 990 2020-01-01 231445884 BELCO COMMUNITY CREDIT UNION BELC 8006424482 449 EISENHOWER BLVD HARRISBURG PA 17111 REBEKA LANDON VP OF FINANCE 8006424482 2021-11-03 1 REBEKA LANDON 999009999 RUTHANN J WOLL CPA P00647342 6103761595 2021-11-03 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z AMEY R SGRIGNOLI 449 EISENHOWER BLVD HARRISBURG PA 17111 37301066 0 X WWW.BELCO.ORG X 1939 PA LOCAL BASED CREDIT UNION DEDICATED TO MEETING THE FINANCIAL SERVICE NEEDS OF OUR COMMUNITY. 11 11 248 16 100264 0 0 0 34696640 34163169 2561169 2030945 1023790 703384 38281599 36897498 0 0 0 0 12843743 14557054 0 0 0 18995055 17653624 31838798 32210678 6442801 4686820 629886333 741180010 569121314 673735241 60765019 67444769 X WE ARE A LOCALLY BASED, NOT-FOR-PROFIT CREDIT UNION DEDICATED TO MEETING THE FINANCIAL SERVICE NEEDS OF OUR MEMBERS AND COMMUNITIES WITH COMPETITIVE PRODUCTS AND SERVICES. 0 0 PROVIDE LOANS TO 69,095 MEMBERS. PROVIDE FINANCIAL SERVICES TO 69,095 MEMBERS. PROVIDE LOANS AND FINANCIAL SERVICES TO 69,095 MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 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 X 16504 0 1 248 1 1 1 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X REBEKA LANDON 8006424482 449 EISENHOWER BLVD HARRISBURG PA 17111 TERRY HESSLER CHAIR 5.00 X X 0 0 0 RICHARD MYXTER VICE-CHAIR 5.00 X X 0 0 0 STEPHANIE F MILLER TREASURER 5.00 X X 0 0 0 BEVERLY A LILLEY SECRETARY 5.00 X X 0 0 0 DAWN GAMBLE START 062020 ASSISTANT SECRETARY 5.00 X 0 0 0 JEFFREY COHICK ASSISTANT TREASURER 5.00 X 0 0 0 DOUG GRAHAM DIRECTOR 5.00 X 0 0 0 RICHARD D LYTLE DIRECTOR 5.00 X 0 0 0 MARGARET A MINNICH DIRECTOR 5.00 X 0 0 0 DONALD PERSON UNTIL 062020 DIRECTOR 5.00 X 0 0 0 WILLIAM F O'DONNELL DIRECTOR 5.00 X 0 0 0 LAVERN R SHEARER DIRECTOR 5.00 X 0 0 0 AMEY R SGRIGNOLI PRESIDENT / CEO 50.00 X 456617 0 132774 JASON ALLEN SVP OF LENDING 45.00 X 194884 0 19335 PAUL PERINI SVP OF RETAIL 45.00 X 184540 0 13425 SAMUEL GLESNER SVP OF CORP SUPPORT 45.00 X 179904 0 19333 REBEKA LANDON VP FINANCE 45.00 X 105565 0 19755 TIMOTHY BRADLEY VP INFORMATION TECHNOLOGY 45.00 X 148255 0 5884 MICHAEL WOLFE VP LENDING 45.00 X 138404 0 21205 ROBERT E HOKE VP OF CORP. SUPPORT 45.00 X 125100 0 19878 MARTI SPECK VP HR & TRAINING 45.00 X 115310 0 15318 ROXANE KAIN MORTGAGE SVCS MANAGER 45.00 X 110729 0 10819 1759308 0 277726 13 0 1 0 JACK HENRY & ASSOCIATES 663 W HWY 60 PO BOX 807 MONETT MO 65708 IT SVCS 812416 DIEBOLD INC 5995 MAYFAIR ROAD PO BOX 3077 NORTH CANTON OH 44720 ATM SVCS 633200 R S MOWERY & SONS INC 1000 BENT CREEK BLVD MECHANICSBURG PA 17050 CONSTRUCTION SVCS 622229 ALKAMI TECHNOLOGY INC PO BOX 670397 DALLAS TX 75267 IT SVCS 525346 HABERFELD ASSOCIATES LLC 206 S 13TH ST 1500 LINCOLN NE 68508 MARKETING SVCS 474383 16 INTEREST INCOME 522291 23842442 23842442 FEE INCOME 522100 9722208 9722208 INVESTMENT SERVICE/OTHER INCOME 523000 498255 498255 NON-MEMBER ATM INCOME 522200 100264 100264 34163169 2034475 2034475 186674 186674 892278 375568 516710 516710 516710 24470 28000 -3530 -3530 -3530 36897498 34059375 100264 2737859 1228971 9930262 385815 2137501 874505 43571 58110 1077404 1520426 1463035 2853539 1267736 58725 171749 2490215 1479366 159839 PROVISION FOR LOAN LOSS 1991493 PLASTIC CARD EXPENSE 1573064 LENDING EXPENSES 913956 MISCELLANEOUS EXPENSE 528473 2923 32210678 7745466 8038578 13495518 46810321 1789957 1692029 570688 581560 452752943 502966657 1896294 1768009 50944931 23813205 27024356 27131726 78391326 102574866 28743532 22470813 17476253 27145451 629886333 741180010 3630282 3978241 18628967 0 546862065 669757000 569121314 673735241 X 0 0 0 0 60765019 67444769 60765019 67444769 629886333 741180010 X 4686820 1378904 614026 X X 0 1 X 1 0 5924476 5924476 27432026 10406191 17025835 282339 132922 149417 15085585 13274092 1811493 2220505 2220505 27131726 MEMBER SHARES AND SAVINGS ACCOUNTS 566772904 MEMBER CERTIFICATES OF DEPOSIT 101896800 ACCRUED DEFERRED COMPENSATION PLANS 1087296 669757000 37273673 376175 376175 36897498 0 36897498 32586853 376175 376175 32210678 0 32210678 PART XI, LINE 2D - OTHER ADJUSTMENTS: NET GAIN/(LOSS) SALE OF OTHER REAL ESTATE OWNED 3,530. OTHER INVESTMENT ADJUSTMENT -2,923. RENTAL EXPENSES 375,568. PART XII, LINE 2D - OTHER ADJUSTMENTS: NET GAIN/(LOSS) SALE OF OTHER REAL ESTATE OWNED 3,530. OTHER INVESTMENT ADJUSTMENT -2,923. RENTAL EXPENSES 375,568. 1 X X X 0 1 0 AMEY R SGRIGNOLI PRESIDENT / CEO 365777 0 27755 0 63085 0 120767 0 12007 0 589391 0 0 0 JASON ALLEN SVP OF LENDING 184158 0 10726 0 0 0 7522 0 11813 0 214219 0 0 0 PAUL PERINI SVP OF RETAIL 173973 0 10567 0 0 0 7155 0 6270 0 197965 0 0 0 SAMUEL GLESNER SVP OF CORP SUPPORT 169448 0 10456 0 0 0 7256 0 12077 0 199237 0 0 0 TIMOTHY BRADLEY VP INFORMATION TECHNOLOGY 140831 0 7424 0 0 0 5884 0 0 0 154139 0 0 0 MICHAEL WOLFE VP LENDING 130738 0 7666 0 0 0 5617 0 15588 0 159609 0 0 0 PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATED IN THE ORGANIZATION'S NON-QUALIFIED 457(F) DEFERRED COMPENSATION PLAN AND EARNED UNVESTED BENEFITS ON THEIR BEHALF DURING 2020 : AMEY SGRIGNOLI AMOUNT: $95,158 LONNY J MAURER FORMER OFFICER FUND LIFE INSURANCE PREMIUMS X 500000 581560 0 1 1 581560 FORM 990, PART V, LINE 1C: THE ORGANIZATION DID NOT HAVE ANY INSTANCES WHERE BACKUP WITHHOLDING WAS REQUIRED; HOWEVER, IF THE SITUATION WOULD ARISE, THE ORGANIZATION IS AWARE OF THE REPORTING REQUIREMENTS AND WOULD HANDLE THAT ACCORDINGLY. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS OWNED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS. EACH MEMBER HAS A SINGLE VOTE IN THE ELECTION OF MEMBERS TO THE CREDIT UNION'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE CREDIT UNION'S MEMBERS MUST APPROVE: (1) THE MERGER OF THE CREDIT UNION (2) THE DISSOLUTION OR CONVERSION OF THE CREDIT UNION AND (3) CHANGES TO THE CREDIT UNION'S CHARTER, ARTICLES AND BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE CREDIT UNION'S BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE ARE PROVIDED WITH A COPY OF THE FORM 990 PRIOR TO THE FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE, AND KEY BELCO EMPLOYEES MUST DISCLOSE ALL POTENTIAL CONFLICTS OF INTEREST, INCLUDING THOSE WHERE THE PERSON HAD INADVERTENTLY BEEN PLACED IN A SITUATION DUE TO EITHER A BUSINESS OR PERSONAL RELATIONSHIP. EACH MEMBER OF THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE, AND ALL KEY EMPLOYEES COVERED UNDER THIS POLICY WILL ANNUALLY SIGN THE "CONFLICT OF INTEREST STATEMENT" WHICH AFFIRMS THAT EACH PERSON: (1) HAS RECEIVED A COPY OF THE BELCO CONFLICT OF INTEREST POLICY, (2) HAS READ AND UNDERSTANDS THE BELCO CONFLICT OF INTEREST POLICY, (3) HAS AGREED TO COMPLY WITH THE BELCO CONFLICT OF INTEREST POLICY, (4) WAS NOT A PARTICIPANT, DIRECTLY OR INDIRECTLY, IN ANY ARRANGEMENT, AGREEMENT, INVESTMENT, OR OTHER ACTIVITY WITH ANY VENDOR, SUPPLIER, OR OTHER PARTY DOING BUSINESS WITH BELCO THAT HAS RESULTED OR COULD RESULT IN PERSONAL BENEFIT TO THEM, WHICH WAS NOT DISCLOSED TO AND APPROVED BY THE BOARD OF DIRECTORS, AND (5) WAS NOT A RECIPIENT, DIRECTLY OR INDIRECTLY, OF ANY SALARY PAYMENTS, LOANS, GIFTS OF ANY KIND, ANY FREE SERVICE OR DISCOUNTS, OR OTHER FEES FROM OR ON BEHALF OF ANY PERSON OR ENTITY ENGAGED IN ANY TRANSACTION WITH BELCO, WHICH WAS NOT DISCLOSED TO AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 THE BASE SALARY FOR THE PRESIDENT/CEO IS BASED ON THE FOLLOWING SOURCE, BALANCEDCOMP COMPENSATION SYSTEM AND ANNUAL BALANCEDCOMP SALARY SURVEY RESULTS REPORT. THE BALANCEDCOMP DATA IS PULLED FROM 22 DIFFERENT SALARY SURVEYS AND OUR DATA COMPARISON IS FILTERED BY ASSET SIZE, WE COMPARE OUR INFORMATION TO CREDIT UNIONS THAT ARE $600M TO $1B. BALANCEDCOMP PROVIDES A MINIMUM, MID-POINT, AND MAXIMUM BASE SALARY DATA. THE BALANCEDCOMP ANNUAL REPORTING ALSO INCLUDES AVERAGE BONUSES AND INCENTIVES BASED ON THE SAME CRITERIA ABOVE, SUCH AS ASSET SIZE, NUMBER OF BRANCHES, NUMBER OF FTE'S, ETC. BASE SALARY FOR ALL EMPLOYEES IS BASED ON THE DATA PROVIDED BY BALANCEDCOMP. AS EACH EMPLOYEE'S ANNUAL PERFORMANCE EVALUATION ARRIVES, THE PERFORMANCE SCORE DETERMINES THEIR SALARY INCREASE, THIS IS PROCESSED AND APPLIED. THEN A FULL SALARY ANALYSIS IS COMPLETED UTILIZING THE DATA IN BALANCEDCOMP SYSTEM. THE EMPLOYEE'S CURRENT COMPA-RATIO RATING COMBINED WITH THEIR PERFORMANCE REVIEW SCORE (VIA A MATRIX) DETERMINES THE OVERALL SALARY INCREASE RECOMMENDATION. THIS INCLUDES THE MERIT INCREASE AND ANY ADDITIONAL AMOUNT THAT MAY BE REQUIRED IN ORDER TO ARRIVE AT THE FULL AMOUNT RECOMMENDED BASED ON THE PERFORMANCE REVIEW SCORE AND COMPA-RATIO RATING. BELCO'S COMPENSATION PHILOSOPHY STATES THAT A NON-EXEMPT EMPLOYEE SHOULD BE AT 99% COMPA-RATIO FOR THEIR POSITION SALARY GRADE RANGE WHEN THEY HAVE ACHIEVED THREE YEARS OF EXPERIENCE IN THEIR ROLE. FOR EXEMPT & EXECUTIVE EMPLOYEES, THE PHILOSOPHY STATES THAT AN EMPLOYEE SHOULD BE AT 97.5% COMPA-RATIO ONCE THEY HAVE ACHIEVED FIVE YEARS OF EXPERIENCE WITHIN THEIR POSITION. THE VICE PRESIDENT OF HUMAN RESOURCES & TRAINING MAKES ANNUAL RECOMMENDATIONS TO THE PRESIDENT/CEO FOR CHANGES TO THE MATRIX THAT DETERMINES OVERALL SALARY INCREASES TO BRING EMPLOYEES IN LINE, OVER TIME, WITH BELCO'S COMPENSATION PHILOSOPHY FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST, COPIES OF THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES OF ALL BRANCHES ON A MONTHLY BASIS. QUARTERLY FINANCIAL STATEMENTS (CALL REPORTS) ARE AVAILABLE ON WWW.NCUA.GOV. FORM 990, PART XI, LINE 9: NET CHANGE ON PENSION LIABILITY 614,026. FORM 990, PART XII, LINE 2C: THE CREDIT UNION HAS A SUPERVISORY COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.