CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (EIN 38-0536242)
- Tax period
- 2020-01-01 to 2020-12-31
- Filed
- 2021-11-12
- IRS object ID
- 202143169349302144
- Schema version
- 2020v4.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-11-12T09:05:56-06:00 | ReturnTs |
| Tax Period End | 2020-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 382492570 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DOEREN MAYHEW | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 305 WEST BIG BEAVER ROAD | AddressLine1Txt |
| City | TROY | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48084 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 380536242 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CREDIT UNION ONE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CRED | BusinessNameControlTxt |
| Phone | 2483981210 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 400 E NINE MILE | AddressLine1Txt |
| City | FERNDALE | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48220 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | GARY MOODY | PersonNm |
| Person Title | PRESIDENT AND CEO | PersonTitleTxt |
| Phone | 2483981210 | PhoneNum |
| Signature | 2021-11-10 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | GARY | PersonFirstNm |
| Person Last | MOODY | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | DOUGLAS J ORTH CPA | PreparerPersonNm |
| PTIN | P01076394 | PTIN |
| Phone | 2482443000 | PhoneNum |
| Preparation | 2021-11-10 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | GARY MOODY | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 400 EAST NINE MILE ROAD | AddressLine1Txt |
| City | FERNDALE | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48220 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $96,479,301 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Group Exemption | 1359 | GroupExemptionNum |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.CUONE.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1938 | FormationYr |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Activity Or Mission | CREDIT UNION ONE'S PRIMARY EXEMPT PURPOSE IS TO EXEMPLIFY THE HISTORICAL CREDIT UNION PHILOSOPHY OF "PEOPLE HELPING PEOPLE". CREDIT UNION ONE ACCOMPLISHED THIS THROUGH FINANCIAL PERFORMANCE BY PAYING $5,284,373 IN DIVIDENDS AND INTEREST ON THE DEPOSITS HELD BY OUR 131,199 MEMBERS. WE WERE ALSO ABLE TO OFFER AND MAINTAIN COMPETITIVE LOAN RATES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 12 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 12 | VotingMembersIndependentCnt |
| Total Employee | 430 | TotalEmployeeCnt |
| Total Volunteers | 12 | TotalVolunteersCnt |
| Total Gross UBI | $352,417 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $62,041,093 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $64,678,385 | CYProgramServiceRevenueAmt |
| PY Investment Income | $4,269,051 | PYInvestmentIncomeAmt |
| CY Investment Income | $3,507,414 | CYInvestmentIncomeAmt |
| PY Other Revenue | $406,749 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $66,716,893 | PYTotalRevenueAmt |
| CY Total Revenue | $68,185,799 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $17,500 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $10,000 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $25,746,046 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $27,497,997 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $31,449,404 | PYOtherExpensesAmt |
| CY Other Expenses | $33,157,254 | CYOtherExpensesAmt |
| PY Total Expenses | $57,212,950 | PYTotalExpensesAmt |
| CY Total Expenses | $60,665,251 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $9,503,943 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $7,520,548 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,490,291,033 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,659,764,690 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,368,363,980 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,528,933,592 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $121,927,053 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $130,831,098 | NetAssetsOrFundBalancesEOYAmt |
| Mission | CREDIT UNION ONE IS COMMITTED TO PROVIDING EXCEPTIONAL VALUE TO ITS MEMBERS BY DELIVERING OUTSTANDING PRODUCTS AND SERVICES ANYTIME, ANYWHERE. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | DURING 2020, CREDIT UNION ONE, A STATE CHARTERED CREDIT UNION LOCATED IN THE STATE OF MICHIGAN, PROVIDED FINANCIAL SERVICES TO MEMBERS WITHIN OUR FIELD OF MEMBERSHIP. CREDIT UNION ONE CONTINUED TO FULFILL ITS EXEMPT STATUS BY PROVIDING CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, OFFERING COMPETITIVE SHARE DEPOSIT PRODUCTS, AND PROVIDING MEMBERS WITH THE OPPORTUNITY TO IMPROVE THE THEIR ECONOMIC CONDITION. IN 2020, THE CREDIT UNION SERVED 131,199 MEMBERS. THERE WERE 15,539 LOANS GRANTED TOTALING $595,067,340. DEPOSITS GREW BY $184,318,823. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 21562 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 430 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 12 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 12 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TINA TRACY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2485845037 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 400 E NINE MILE | AddressLine1Txt |
| City | FERNDALE | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48220 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (22 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| GUADALUPE G LARA | ||||||||
| VICE CHAIRPERSON | 3.00 | Yes (X) | $0 | $0 | $0 | |||
| PAUL W STUART | ||||||||
| BOARD CHAIRPERSON | 3.00 | Yes (X) | $0 | $0 | $0 | |||
| JAN GILLESPIE | ||||||||
| BOARD MEMBER | 3.00 | Yes (X) | $0 | $0 | $0 | |||
| JOAN STEFANSKI | ||||||||
| SECRETARY/TREASURER | 3.00 | Yes (X) | $0 | $0 | $0 | |||
| RUDOLPH R MONTANO JR | ||||||||
| BOARD MEMBER | 3.00 | Yes (X) | $0 | $0 | $0 | |||
| DAVID C PRYBYS | ||||||||
| BOARD DIRECTOR | 3.00 | Yes (X) | $0 | $0 | $0 | |||
| RAYMOND F REDMOND | ||||||||
| BOARD MEMBER | 3.00 | Yes (X) | $0 | $0 | $0 | |||
| JUANITA M REID | ||||||||
| BOARD MEMBER | 3.00 | Yes (X) | $0 | $0 | $0 | |||
| GAIL WESTOVER | ||||||||
| BOARD MEMBER | 3.00 | Yes (X) | $0 | $0 | $0 | |||
| NICKOLAS NICKOLOPOULOS | ||||||||
| BOARD MEMBER | 3.00 | Yes (X) | $0 | $0 | $0 | |||
| CHRISTINE DOWHAN-BAILEY | ||||||||
| BOARD MEMBER | 3.00 | Yes (X) | $0 | $0 | $0 | |||
| GARY MOODY | ||||||||
| PRESIDENT AND CEO | 40.00 | $598,680 | $0 | $31,796 | Yes (X) | |||
| THOMAS SCHAEFFLER | ||||||||
| PRESIDENT/COO | 40.00 | $362,619 | $0 | $15,391 | Yes (X) | |||
| CHRISTINA TRACY | ||||||||
| SVP/CFO | 40.00 | $206,758 | $0 | $25,322 | Yes (X) | |||
| DAVID BREUER | ||||||||
| SVP/CIO | 40.00 | $259,199 | $0 | $7,563 | Yes (X) | |||
| SWAMINATHAN SEETHARAMAN | ||||||||
| SVP/CHIEF MEMBER EXPERIENC | 40.00 | $212,082 | $0 | $23,104 | Yes (X) | |||
| MARK OUIMET | ||||||||
| CHIEF LENDING OFFICER | 40.00 | $289,335 | $0 | $7,384 | Yes (X) | |||
| MURALI SHESHAM | ||||||||
| VP DATA ANALYTICS AND INSIGHT | 40.00 | $162,998 | $0 | $25,209 | Yes (X) | |||
| SCOTT BONACORSI | ||||||||
| SVP CHIEF EMPLOYEE EXPERIENCE | 40.00 | $184,205 | $0 | $24,056 | Yes (X) | |||
| DONNA REID | ||||||||
| SVP CHIEF MEMBER EXPERIENCE OFFICER | 40.00 | $177,424 | $0 | $26,692 | Yes (X) | |||
| MARK MACFARLANE | ||||||||
| VP ENTERPRISE SOLUTIONS | 40.00 | $188,235 | $0 | $22,014 | Yes (X) | |||
| LANCE KRAJACIC | ||||||||
| SVP COMMERCIAL LENDING | 40.00 | $214,039 | $0 | $5,730 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,855,574 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $214,261 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 29 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| PSCU | |||||
| 560 CARILLON PARK WAY | ST PETERSBURG | FL | 33716 | CREDIT/DEBIT PROCESSOR AND SERVICING | $2,116,030 |
| CORRADO CONTRACTING LLC | |||||
| 27530 FAIRFIELD | WARREN | MI | 48088 | CONSTRUCTION | $1,261,344 |
| FISERV | |||||
| 75 REMITTANCE DR STE 1649 | CHICAGO | IL | 60675 | DATA PROCESSING | $1,179,700 |
| DIEBOLD INC | |||||
| 5995 MAYFAIR ROAD | NORTH CANTON | OH | 44720 | ATM SERVICING | $742,172 |
| ALKAMI TECHNOLOGY | |||||
| 5601 GRANITE PWKY 120 | PLANO | TX | 75024 | ONLINE BANKING PLATFORM | $591,662 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 47 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOANS TO MEMBERS | 522100 | $46,293,291 | $46,293,291 | |
| FEE INCOME | 522100 | $18,032,677 | $18,032,677 | |
| FINANCE AND INSURANCE | 520000 | $352,417 | $352,417 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $64,678,385 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,814,871 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,814,871 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $28,986,045 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $28,293,502 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $692,543 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $692,543 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $692,543 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $68,185,799 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $67,833,382 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $352,417 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,039,233 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,377,787 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $434,454 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,955,404 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,691,119 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $867,124 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $49,730 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $482,913 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $666,526 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $715,693 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,605,051 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,401,153 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,947,978 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $49,236 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $252,080 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,755,067 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $85,383 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,860,840 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $293,412 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| LOAN SERVICING EXPENSE | $3,610,716 |
| DEBIT/ATM EXPENSES | $3,211,648 |
| PROVISION FOR LOAN LOSS | $2,645,207 |
| OTHER LOSSES | $1,344,607 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,312,890 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,665,251 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,522,450 | BOYAmt |
| EOY | $37,230,606 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $102,272,599 | BOYAmt |
| EOY | $229,490,408 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,187,443 | BOYAmt |
| EOY | -$720,279 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,532,168 | BOYAmt |
| EOY | $18,989,328 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,124,149,290 | BOYAmt |
| EOY | $1,081,684,228 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,587,723 | BOYAmt |
| EOY | $1,489,480 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $65,058,601 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $32,375,162 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,261,639 | BOYAmt |
| EOY | $32,683,439 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $102,976,643 | BOYAmt |
| EOY | $165,790,097 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,684,600 | BOYAmt |
| EOY | $33,467,338 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $58,116,478 | BOYAmt |
| EOY | $59,660,045 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,490,291,033 | BOYAmt |
| EOY | $1,659,764,690 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,040,073 | BOYAmt |
| EOY | $9,280,855 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,000,000 | BOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,335,323,907 | BOYAmt |
| EOY | $1,519,652,737 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,368,363,980 | BOYAmt |
| EOY | $1,528,933,592 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $121,927,053 | BOYAmt |
| EOY | $130,831,098 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $121,927,053 | BOYAmt |
| EOY | $130,831,098 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,490,291,033 | BOYAmt |
| EOY | $1,659,764,690 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $7,520,548 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,362,840 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $20,657 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,653,123 | OtherCostOrOtherBasisAmt |
| Book Value | $6,653,123 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $35,420,343 | OtherCostOrOtherBasisAmt |
| Depreciation | $13,827,782 | DepreciationAmt |
| Book Value | $21,592,561 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $361,717 | OtherCostOrOtherBasisAmt |
| Depreciation | $318,504 | DepreciationAmt |
| Book Value | $43,213 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $22,623,418 | OtherCostOrOtherBasisAmt |
| Depreciation | $18,228,876 | DepreciationAmt |
| Book Value | $4,394,542 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $32,683,439 | TotalBookValueLandBuildingsAmt |
Closely Held Equity Interests CloselyHeldEquityInterestsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | $3,195,553 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
Other Securities OtherSecuritiesGrp (2 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| AVAILABLE FOR SALE SECURITIES | $151,963,544 | F |
| CERTIFICATES OF DEPOSIT | $10,631,000 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $165,790,097 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (7 entries)
| DescDesc | AmtAmt |
|---|---|
| SHARE ACCOUNTS | $435,863,171 |
| MONEY MARKET ACCOUNTS | $406,975,211 |
| IRA ACCOUNTS | $27,228,189 |
| SHARE DRAFT ACCOUNTS | $388,200,604 |
| SHARE AND IRA CERTIFICATES | $183,253,420 |
| NON-INTEREST BEARING SHARES | $306,166 |
| NON-INTEREST BEARING SHARE DRAFTS | $77,825,976 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,519,652,737 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $68,185,799 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $68,185,799 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $68,185,799 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $60,665,251 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $60,665,251 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $60,665,251 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | INCOME TAXES 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. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
| Field | Value | IRS element (for citing) |
|---|---|---|
| Purpose Of Grant | CANCER RESEARCH | PurposeOfGrantTxt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIPS | GrantTypeTxt |
| Recipient | 10 | RecipientCnt |
| Cash Grant | $10,000 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE CHECKS ARE WRITTEN DIRECTLY TO THE SCHOOL FOR EACH SCHOLARSHIP. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Discretionary Spending Acct | Yes (X) | DiscretionarySpendingAcctInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (11 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GARY MOODY | ||||||||||||||
| PRESIDENT AND CEO | $515,375 | $0 | $75,481 | $0 | $7,824 | $0 | $10,400 | $0 | $21,396 | $0 | $630,476 | $0 | $0 | $0 |
| THOMAS SCHAEFFLER | ||||||||||||||
| PRESIDENT/COO | $324,456 | $0 | $31,404 | $0 | $6,759 | $0 | $7,869 | $0 | $7,522 | $0 | $378,010 | $0 | $0 | $0 |
| MARK OUIMET | ||||||||||||||
| CHIEF LENDING OFFICER | $269,860 | $0 | $12,500 | $0 | $6,975 | $0 | $6,660 | $0 | $724 | $0 | $296,719 | $0 | $0 | $0 |
| DAVID BREUER | ||||||||||||||
| SVP/CIO | $236,514 | $0 | $16,734 | $0 | $5,951 | $0 | $6,042 | $0 | $1,521 | $0 | $266,762 | $0 | $0 | $0 |
| SWAMINATHAN SEETHARAMAN | ||||||||||||||
| SVP/CHIEF MEMBER EXPERIENC | $193,100 | $0 | $13,961 | $0 | $5,021 | $0 | $4,087 | $0 | $19,017 | $0 | $235,186 | $0 | $0 | $0 |
| CHRISTINA TRACY | ||||||||||||||
| SVP/CFO | $188,806 | $0 | $15,000 | $0 | $2,952 | $0 | $4,479 | $0 | $20,843 | $0 | $232,080 | $0 | $0 | $0 |
| LANCE KRAJACIC | ||||||||||||||
| SVP COMMERCIAL LENDING | $206,539 | $0 | $7,500 | $0 | $0 | $0 | $5,096 | $0 | $634 | $0 | $219,769 | $0 | $0 | $0 |
| MARK MACFARLANE | ||||||||||||||
| VP ENTERPRISE SOLUTIONS | $170,235 | $0 | $18,000 | $0 | $0 | $0 | $778 | $0 | $21,236 | $0 | $210,249 | $0 | $0 | $0 |
| SCOTT BONACORSI | ||||||||||||||
| SVP CHIEF EMPLOYEE EXPERIENCE | $171,169 | $0 | $11,200 | $0 | $1,836 | $0 | $4,542 | $0 | $19,514 | $0 | $208,261 | $0 | $0 | $0 |
| DONNA REID | ||||||||||||||
| SVP CHIEF MEMBER EXPERIENCE OFFICER | $165,543 | $0 | $8,500 | $0 | $3,381 | $0 | $3,927 | $0 | $22,765 | $0 | $204,116 | $0 | $0 | $0 |
| MURALI SHESHAM | ||||||||||||||
| VP DATA ANALYTICS AND INSIGHT | $154,998 | $0 | $8,000 | $0 | $0 | $0 | $3,973 | $0 | $21,236 | $0 | $188,207 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE GARY MOODY, TOM SCHAEFFLER, DAVE BREUER, AND SWAMINATHAN SEETHARAMAN THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. CHRISTINA TRACY (SVP/CFO), DONNA REID (SVP CHIEF MEMBER EXPERIENCE OFFICER), AND SCOTT BONACORSI (SVP CHIEF EMPLOYEE EXPERIENCE OFFICER), PARTICIPATE IN A NON-QUALIFIED 457F PLAN. THE BENEFIT LIABILITIES ARE SECURED BY AN ANNUITY CONTRACT. THE BENEFIT LIABILITY RECORDED FOR EACH OF THE PARTICIPANTS AS OF DECEMBER 31, 2020 WAS AS FOLLOWS: CHRISTINA TRACY: $318,760 DONNA REID: $425,607 SCOTT BONACORSI: $400,392 | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (6 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| GARY MOODY | |||||||
| PRESIDENT AND CEO | SPLIT DOLLAR LIFE INSURANCE | Yes (X) | $3,207,339 | $4,814,063 | 0 | Yes (1) | Yes (1) |
| TOM SCHAEFFLER | |||||||
| EVP/COO | SPLIT DOLLAR LIFE INSURANCE | Yes (X) | $3,112,000 | $3,903,797 | 0 | Yes (1) | Yes (1) |
| STEVE GRECH | |||||||
| EVP/LENDING | SPLIT DOLLAR LIFE INSURANCE | Yes (X) | $2,360,000 | $2,960,464 | 0 | Yes (1) | Yes (1) |
| DAVE BREUER | |||||||
| SVP/CIO | SPLIT DOLLAR LIFE INSURANCE | Yes (X) | $1,960,000 | $2,458,690 | 0 | Yes (1) | Yes (1) |
| DAVID SOMMERS | |||||||
| SVP/CFO | SPLIT DOLLAR LIFE INSURANCE | Yes (X) | $1,600,000 | $2,007,094 | 0 | Yes (1) | Yes (1) |
| SWAMINATHAN SEETHARAMAN | |||||||
| SVP/MEMBER EXP. OFFICER | SPLIT DOLLAR LIFE INSURANCE | Yes (X) | $1,417,582 | $2,845,220 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $18,989,328 | TotalBalanceDueAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCH L, PART II | FormAndLineReferenceDesc |
| Explanation | 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. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | EVERY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER. |
| FORM 990, PART VI, SECTION A, LINE 7A | EVERY MEMBER OF THE CREDIT UNION IS GIVEN ONE VOTE AND IS ABLE TO ELECT MEMBERS OF THE GOVERNING BODY AT THE ANNUAL MEETING. |
| FORM 990, PART VI, SECTION A, LINE 7B | ONLY SUBSTANTIAL EVENTS ARE SUBJECT TO MEMBERSHIP APPROVAL. |
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 WILL BE PRESENTED AT A MEETING OF THE AUDIT COMMITTEE OF CREDIT UNION ONE SUBSEQUENT TO THE FILING OF THE FORM. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE BOARD OF DIRECTORS ANNUALLY COMPLETES AND SIGNS A FORMAL CONFLICT OF INTEREST DISCLOSURE CONSISTENT WITH THE BOARD'S CODE OF ETHICS. THE DISCLOSURES ARE REVIEWED BY THE GOVERNANCE COMMITTEE FOR COMPLIANCE WITH THE CODE OF ETHICS. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE CEO'S COMPENSATION REVIEW IS PERFORMED BY THE BOARD OF DIRECTORS ANNUALLY. ALL TOP MANAGEMENT LEVEL EMPLOYEES' COMPENSATION ARE REVIEWED BY THE HEAD OF HR AND BENCHMARKED. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST ONLY. |
| FORM 990, PART IX, LINE 24E | MISCELLANEOUS EXPENSE 804,084. SERVICE CENTER EXPENSE 508,806. |
| FORM 990, PART XI, LINE 9: | POST RETIREMENT BENEFIT PLAN GAINS 43,882. POST RETIREMENT BENEFIT PLAN AMORTIZATION INCLUDED IN NET EARNINGS -23,225. |
| FORM 990, PART XII, LINE 2C: | WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |