2021-11-15T10:57:23-06:00 2020-12-31 232108173 RKL LLP 1330 BROADCASTING ROAD WYOMISSING PA 196106008 990 2020-01-01 230338105 LEHIGH VALLEY EDUCATORS CREDIT UNION LEHI 6108200145 3720 HAMILTON BLVD ALLENTOWN PA 18103 ROSEMARIE KRANTZ CEO 6108200145 2021-11-11 1 ROSEMARIE KRANTZ 999009999 RUTHANN J WOLL CPA P00647342 6103761595 2021-11-11 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z ROSEMARIE KRANTZ 3720 HAMILTON BLVD ALLENTOWN PA 18103 80626484 0 X WWW.LVECU.ORG X 1934 PA WE WILL GROW OUR CREDIT UNION THROUGH LONG-TERM MEMBER RELATIONSHIPS AND PARTNER WITH OUR MEMBERS TO MEET THEIR EXPECTATIONS. WE WILL MAINTAIN A SOLID FINANCIAL FOUNDATION WHICH BENEFITS OUR MEMBERS AND EMPLOYEES. WE WILL PROMOTE A CULTURE WHERE EACH EMPLOYEE DEMONSTRATES A PASSION FOR EXCELLENCE. 9 9 36 0 2715 0 0 0 6212371 6097127 4841094 4166691 44017 61 11097482 10263879 0 0 0 0 2428175 2338932 0 0 0 6188884 5745783 8617059 8084715 2480423 2179164 324277675 377145467 267636999 316519400 56640676 60626067 X WE WILL GROW OUR CREDIT UNION THROUGH LONG TERM MEMBER REALTIONSHIPS AND PARTNER WITH OUR MEMBERS TO MEET THEIR EXPECTATIONS. WE WILL MAINTAIN A SOLID FINANCIAL FOUNDATION WHICH BENEFITS OUR MEMBERS AND EMPLOYEES. WE WILL PROMOTE A CULTURE WHERE EACH EMPLOYEE DEMONSTRATES A PASSION FOR EXCELLENCE. 0 0 PROVIDE MORE THAN 8,300 LOANS TO OVER 15,000 MEMBERS. PROVIDE FINANCIAL SERVICES TO OVER 15,000 MEMBERS 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 9311 0 1 36 1 1 1 0 0 0 0 0 0 0 X 9 9 1 0 0 0 1 1 1 1 1 1 0 0 1 0 0 0 1 1 1 0 X RONALD W HOUCK 6108200145 3720 HAMILTON BLVD ALLENTOWN PA 18103 WILLIAM AYERS BOARD CHAIRPERSON 1.00 X 1000 0 0 GARY FEDORCHA BOARD VICE CHAIR 1.00 X 750 0 0 EUGENIA EMERT SECRETARY/TREASURER 1.00 X 550 0 0 JILLIAN EMERT MEMBERSHIP OFFICER 1.00 X 250 0 0 DANIEL JOSEPH DIRECTOR 1.00 X 500 0 0 GARY PHILLIPS DIRECTOR 1.00 X 500 0 0 DANIEL WEAVER DIRECTOR 1.00 X 500 0 0 RYAN VAN NORMAN DIRECTOR 1.00 X 500 0 0 SHERRI MOLITORIS DIRECTOR 1.00 X 400 0 0 DENNIS NEMES DIRECTOR 1.00 X 400 0 0 ROSEMARIE E KRANTZ CEO 40.00 X 150342 0 80242 RONALD W HOUCK CFO 40.00 X 103870 0 33694 MARIE A RHODA CLO 40.00 X 90803 0 48112 350365 0 162048 2 0 1 0 FISERV PO BOX 934057 ATLANTA GA 31193 DEBIT CARD PROCESSING 311412 FIDELITY INFORMATION SERVICES 601 RIVERSIDE AVE JACKSONVILLE FL 32204 PLASTIC CARD SERVICES 284976 ALKAMI TECHNOLOGY 5601 GRANITE PKWY SUITE 120 PLANO TX 75024 DIGITAL BANKING SERVICES 223102 JH & SONS PAVING INC 306 MOORESTOWN DR BATH PA 18014 PAVING 109500 CORELATION INC 2305 HISTORIC DECATUR SUITE 300 SAN DIEGO CA 92106 SOFTWARE MAINTENANCE 101651 5 LOAN INTEREST INCOME 522291 4840833 4840833 PLASTIC CARD INCOME 522100 972601 972601 FEE INCOME 522100 280978 280978 NON MEMBER ATM INCOME 525990 2715 2715 6097127 4162538 4162538 41858758 28508000 41855617 28506988 3141 1012 4153 4153 MISCELLANEOUS INCOME 522100 61 61 61 10263879 6094473 2715 4166691 512413 1095120 173763 455387 102249 22105 35133 181771 192179 880547 540422 387207 515 18476 1717234 382932 67752 LENDING EXPENSES 642979 PROVISION FOR LOAN LOSS 594582 OTHER 81949 8084715 796072 946438 35579207 48621785 843543 844005 99188446 95527863 322758 317655 9269285 3824006 5683013 5445279 172253606 214994989 6662257 7172657 2948773 3274796 324277675 377145467 1578302 1319840 266058697 315199560 267636999 316519400 X 0 0 0 0 0 0 56640676 60626067 324277675 377145467 X 2179164 2126946 -320719 X X 0 1 X 1 0 1478502 1478502 5607839 2448017 3159822 2182944 1375989 806955 5445279 MEMBER SHARE AND SAVINGS ACCOUNTS 315199560 315199560 X 12386542 2122663 2122663 10263879 0 10263879 8401151 316436 316436 8084715 0 8084715 PART X, LINE 2: THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DESCRIBED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C) (14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. THE CREDIT UNION DID NOT INCUR UNRELATED BUSINESS INCOME TAX FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN PENSION LIABILITY PART XII, LINE 2D NET CHANGE IN PENSION LIABILITY X X X X 0 0 0 ROSEMARIE E KRANTZ CEO 150342 0 0 0 0 0 53386 0 26856 0 230584 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 EUGENIA EMERT AND JILLIAN EMERT ARE MOTHER AND DAUGHTER. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS. EACH MEMBER HAS A SINGLE VOTE IN THE ELECTION OF THE CREDIT UNION'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION HAS A SINGLE CLASS OF MEMEBERS. EACH MEMBER HAS A SINGLE VOTE IN THE ELECTION OF THE CREDIT UNION'S BOARD OF DIRECTORS FORM 990, PART VI, SECTION A, LINE 7B THE CREDIT UNION'S MEMBERS MUST APPROVE: -THE MERGER OF THE CREDIT UNION. -THE DISSOLUTION OR CONVERSION OF THE CREDIT UNION. -CHANGES TO THE CREDIT UNION'S CHARTER, ARTICLES AND BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CREDIT UNION'S CEO AND CFO PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE CEO IS DETERMINED BY THE CHAIR AND VICE-CHAIR OF THE BOARD OF DIRECTORS, WHO REVIEW INFORMATION OBTAINED THROUGH THE HR PERFORMANCE SOLUTIONS COMPEASE SYSTEM. THEY THEN MAKE A RECOMMENDATION FOR THE FULL BOARD OF DIRECTORS, WHICH VOTES TO APPROVE THE SALARY. COMPENSATION FOR OTHER OFFICERS OR KEY EMPLOYEES IS BASED ON GUIDANCE FROM THE HR PERFORMANCE SOLUTIONS COMPEASE SYSTEM. A THREE YEAR SALARY PLAN IS DEVELOPED BY THE CEO, PRESENTED TO THE SALARY COMMITTEE AND REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. COMPENSATION FOR ALL EMPLOYEES, INCLUDING THE CEO, OTHER OFFICERS AND KEY EMPLOYEES, IS ALSO INCLUDED IN THE ANNUAL BUDGET. THE BUDGET IS APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 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 IN PENSION LIABILITY -316,436. RECLASSIFICATION ADJUSTMENT FOR GAINS INCLUDED IN NET INCOME -4,283. PART XII LINE 2C THERE WAS NO CHANGE FROM PRIOR YEAR.