2021-11-15T14:35:55-06:00 2020-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2020-01-01 540674170 UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION UNIV 4349642001 3300 BERKMAR DRIVE CHARLOTTESVILLE VA 22901 ALISON DETUNCQ PRESIDENT/CEO 4349642003 2021-11-12 1 ALISON DETUNCQ XXX-XX-XXXX DOUGLAS J ORTH P01076394 3052328272 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z ALISON DETUNCQ 3300 BERKMAR DRIVE CHARLOTTESVILLE VA 22901 60388283 0 X WWW.UVACREDITUNION.ORG X 1954 VA THE MISSION OF THE UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION IS TO 1) ENCOURAGE THRIFT AMONG MEMBERSHIP, THUS CREATING A LENDABLE POOL OF FUNDS 2) MAKE MEMBER LOANS AT A REASONABLE RATE OF INTEREST 3) PAY A FAIR RATE OF RETURN ON MEMBER SAVINGS 4) PROVIDE HELPFUL MEMBER FINANCIAL SERVICE. 17 17 344 17 62596 32423 0 0 29250023 28803544 9329671 8628714 8458333 7257319 47038027 44689577 0 0 0 0 20686545 21656296 0 0 0 19553014 18316700 40239559 39972996 6798468 4716581 1026121491 1210620558 913596830 1086134945 112524661 124485613 X THE MISSION OF THE UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION, INC. IS TO 1) ENCOURAGE THRIFT AMONG MEMBERSHIP, THUS CREATING A LENDABLE POOL OF FUNDS 2) MAKE MEMBER LOANS AT A REASONABLE RATE OF INTEREST 3) PAY A FAIR RATE OF RETURN ON MEMBER SAVINGS 4) PROVIDE HELPFUL MEMBER FINANCIAL SERVICE. 0 0 DURING 2020, UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION, INC., A STATE-CHARTERED CREDIT UNION LOCATED IN CENTRAL VIRGINIA, PROVIDED FINANCIAL SERVICES TO MEMBERS WHO LIVE, WORK, OR ATTEND SCHOOL IN THE CITY OF CHARLOTTESVILLE AND THE SURROUNDING COUNTIES OF ALBEMARLE, FLUVANNA, GREENE, LOUISA, MADISON, NELSON, FAUQUIER, RAPPAHANNOCK, CULPEPER, AND ORANGE. THE CREDIT UNION CONTINUED TO FULFILL ITS EXEMPT PURPOSE BY PROVIDING CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, OFFERING COMPETITIVE SHARE DEPOSIT PRODUCTS, AND PROVIDING MEMBERS WITH THE OPPORTUNITY TO IMPROVE THEIR ECONOMIC CONDITION. AS OF THE END OF 2020, THE CREDIT UNION SERVED 71,741 MEMBERS. PROVIDE 30,558 LOANS INCLUDING HOME EQUITY, SHARE SECURED, FIRST MORTGAGE, CREDIT CARD, UNSECURED, NEW AND USED VEHICLE, RECREATIONAL VEHICLES, AND LINE OF CREDIT. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 1 0 0 1 17272 0 1 344 1 1 1 0 0 0 0 0 0 0 X 17 17 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 VA X PETER HOLMAN 4349642015 3300 BERKMAR DRIVE CHARLOTTESVILLE VA 22901 JEFFREY C MOSCICKI CHAIRPERSON 1.00 X 0 0 0 MICHAEL MALLORY BOD MEMBER 1.00 X 0 0 0 LYNNE RICHMAN BELL BOD MEMBER 1.00 X 0 0 0 PAMELA W HIGGINS V. CHAIRPERSON 1.00 X 0 0 0 ROB W FREER BOD SECRETARY 1.00 X 0 0 0 LISA P HEUCHERT BOD MEMBER 1.00 X 0 0 0 MARIE C MELTON BOD MEMBER 1.00 X 0 0 0 ROBERT NEIL BOD MEMBER 1.00 X 0 0 0 BENJAMIN MCCARTNEY BOD MEMBER 1.00 X 0 0 0 KENNETH EADES BOD TREASURER 1.00 X 0 0 0 J BARRETT JONES BOD MEMBER 1.00 X 0 0 0 ALISON DETUNCQ CEO/PRESIDENT 40.00 X 811657 0 36584 KEITH O'NEIL COO 40.00 X 272118 0 51900 PETER HOLMAN CFO 40.00 X 230726 0 47110 ETHAN DUNSTAN SVP BUSINESS BANKING 40.00 X 178539 0 35319 GEORGE BALLEW SVP MEMBER OPTIONS 40.00 X 231052 0 29138 GEORGE FISHER SVP OF IS 40.00 X 170085 0 34114 JANINE WILLIAMS VP MARKETING 40.00 X 160931 0 33160 DAVID ESWORTHY SVP RETAIL DEILVERY STRATEGY 40.00 X 181136 0 18114 LESLIE ROBINSON SVP ADMINISTRATION 40.00 X 192961 0 23681 MARGO JONES MORTGAGE LOAN OFFICER 40.00 X 322388 0 47410 TREVOR ROLLISON MORTGAGE LOAN OFFICER 40.00 X 293891 0 34689 BRENDAN MCCORMICK VP INTERNAL AUDIT 40.00 X 165054 0 34548 3210538 0 425767 19 0 1 0 Q2EBANKING PO BOX 205970 DALLAS TX 75320 ONLINE/MOBILE BANKING 1436033 FIS 11601 N ROOSEVELT BLVD ST PETERSBURG FL 33716 DEBIT/CREDIT CARD PROCESSING 1402085 FISERV PO BOX 934057 ATLANTA GA 311934057 OPERATING SYSTEM SOFTWARE 812353 HRCONTRACT PO BOX 11 STAUNTON VA 244020011 JANITORIAL SERVICES, DOCUMENT DESTRUCTIO 407303 BRANCHSERV 4 RESEARCH DRIVE BETHEL CT 06801 BRANCH AUTOMATION, SECURITY, EQUIPMENT 374188 16 INTEREST ON LOANS 522100 24284417 24284417 FEES/CHARGES/OTHER 522100 4456531 4456531 FINANCE & INSURANCE 520000 62596 62596 28803544 8010802 8010802 258781 399818 -141037 -141037 -141037 15916800 15298888 617912 617912 617912 OTHER INCOME 522100 7311582 7311582 COMMISION FROM SALES OF SECURITIE 900099 86774 86774 7398356 44689577 44626981 62596 0 X 2322433 14409523 1168208 2676292 1079840 85092 120163 141805 636409 677900 5856258 1307509 757794 165974 4029816 1556484 LOAN SERVICING 1356542 PROVISION FOR LOAN LOSS 874321 MISC. EXPENSES 542603 OPERATING FEES 208030 39972996 9279942 10135580 88352781 109705330 1183686 3139121 7900976 7842517 532071462 600843641 5399003 5569398 36224380 17293950 19107763 18930430 339980733 423042744 22845145 31411797 1026121491 1210620558 12510840 11888896 8697782 892388208 1074246049 913596830 1086134945 X 0 0 0 0 112524661 124485613 112524661 124485613 1026121491 1210620558 4716581 7244371 0 X X 0 1 X 1 0 5561067 5561067 15651368 6093277 9558091 866811 730246 136565 12810522 10208923 2601599 1334612 261504 1073108 18930430 SHARE DRAFTS 239903268 SHARES 428137426 MONEY MARKET 187056530 IRA SHARES 34184946 CERTIFICATES OF DEPOSIT 184963879 1074246049 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL AND STATE INCOME TAXES. HOWEVER, THE CREDIT UNION'S WHOLLY OWNED CUSO IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATECHARTERED CREDIT UNION AS DEFINED IN THE 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 DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2019, 2018, AND 2017 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. X X 1 1 X X 0 1 0 ALISON DETUNCQ CEO/PRESIDENT 480900 0 111040 0 219717 0 28500 0 8084 0 848241 0 0 0 MARGO JONES MORTGAGE LOAN OFFICER 34202 0 288186 0 0 0 28500 0 18910 0 369798 0 0 0 TREVOR ROLLISON MORTGAGE LOAN OFFICER 26097 0 267794 0 0 0 28500 0 6189 0 328580 0 0 0 KEITH O'NEIL COO 250324 0 9638 0 12156 0 25996 0 25904 0 324018 0 0 0 PETER HOLMAN CFO 224588 0 6138 0 0 0 23073 0 24037 0 277836 0 0 0 GEORGE BALLEW SVP MEMBER OPTIONS 152885 0 78167 0 0 0 10609 0 18529 0 260190 0 0 0 LESLIE ROBINSON SVP ADMINISTRATION 167144 0 7471 0 18346 0 17462 0 6219 0 216642 0 0 0 ETHAN DUNSTAN SVP BUSINESS BANKING 173624 0 4865 0 50 0 17849 0 17470 0 213858 0 0 0 GEORGE FISHER SVP OF IS 165439 0 4646 0 0 0 17008 0 17106 0 204199 0 0 0 BRENDAN MCCORMICK VP INTERNAL AUDIT 160555 0 4499 0 0 0 16506 0 18042 0 199602 0 0 0 DAVID ESWORTHY SVP RETAIL DEILVERY STRATEGY 176164 0 4972 0 0 0 18114 0 0 0 199250 0 0 0 JANINE WILLIAMS VP MARKETING 147021 0 4160 0 9750 0 15118 0 18042 0 194091 0 0 0 PART I, LINE 4B THE CREDIT UNION PROVIDES NON-QUALIFIED DEFERRED COMPENSATION PLANS FOR CERTAIN MEMBERS OF MANAGEMENT. FOR PURPOSES OF THIS SECTION THE TWO PLANS REPORTED ARE 457(F) PLANS AND SPLIT DOLLAR INSURANCE AGREEMENTS. SPLIT DOLLAR INSURANCE AGREEMENTS INVOLVE METHODS OF PAYING FOR INSURANCE COVERAGE FOR THE EMPLOYEES BY SPLITTING THE ELEMENTS OF A LIFE INSURANCE POLICY. UNDER THE AGREEMENTS, THE EMPLOYEES ARE THE OWNERS OF THE POLICIES AND MAKE COLLATERAL ASSIGNMENTS TO THE CREDIT UNION IN RETURN FOR LOANS EQUAL TO THE AMOUNT OF PREMIUMS PAID ON BEHALF OF THE EMPLOYEES. AT THE TIME OF DEATH, THE LOAN AMOUNT WILL BE REPAID TO THE CREDIT UNION AND THE BALANCE OF THE INSURANCE BENEFIT WILL BE PAID TO THE EMPLOYEES' DESIGNATED BENEFICIARIES. PARTICIPANT IN 457(F): PETER HOLMAN , NO PAYOUTS DURING 2020. ALISON DETUNCQ, RECIEVED $58,400.00 IN PAYOUTS DURING 2020. THE FOLLOWING EXECUTIVES PARTICIPATE IN THE SPLIT DOLLAR LIFE INSURANCE PLAN: ALISON DETUNCQ PRESIDENT/CEO KAREN GILLISPIE FORMER VP OPERATIONS LESLIE ROBINSON SVP ADMINISTRATION KEITH O'NEIL COO KAREN GILLISPIE FORMER EXECUTIVE EMPLOYEE TO FUND DEFERRED COMPENSATION X 160000 708156 0 1 1 LESLIE ROBINSON EXECUTIVE EMPLOYEE TO FUND DEFERRED COMPENSATION X 130000 965435 0 1 1 ALISON DETUNCQ EXECUTIVE EMPLOYEE TO FUND DEFERRED COMPENSATION X 5573323 5280770 0 1 1 KEITH O'NEIL EXECUTIVE EMPLOYEE TO FUND DEFERRED COMPENSATION X 225000 888156 0 1 1 7842517 FORM 990, SCH L, PART II 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 OF SCHEDULE L 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. FORM 990, PART VI, SECTION A, LINE 6 UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION IS OWNED BY ITS MEMBERSHIP. EACH MEMBER OWNS ONE SHARE WHICH ENTITLES THAT INDIVIDUAL TO ONE VOTE IN THE ELECTION OF THE CREDIT UNION'S VOLUNTEER BOARD OF DIRECTORS. MEMBERSHIP IS SECURED BY A $5 PAR VALUE WHICH THE MEMEBER MUST MAINTAIN IN HIS OR HER PRIMARY SHARE SAVINGS ACCOUNT. MEMBERSHIP IS OPEN TO ANY PERSON WHO LIVES, WORKS, OR ATTENDS SCHOOL IN THE CITY OF CHARLOTTESVILLE OR THE COUNTIES OF ALBEMARLE, FLUVANNA, GREENE, LOUISA, MADISON, NELSON, OR ORANGE. ANY ONE RELATED TO A CURRENT MEMBER BY BLOOD, MARRIAGE, OR ADOPTION IS ALSO ELIGIBLE TO JOIN. FORM 990, PART VI, SECTION A, LINE 7A THE UNIVERISTY OF VIRGINIA COMMUNITY CREDIT UNION IS A MEMBER-OWNED FINANCIAL INSTITUTION. EACH MEMBER OWNS ONE SHARE WHICH ENTITLES THAT INDIVIDUAL TO ONE VOTE WHICH MAY BE EXCERCISED ANNUALLY FOR THE ELECTION OF A VOLUNTEER BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE REVIEWED BY THE SENIOR VICE PRESIDENT WHERE ALL THE DATA USED TO COMPILE THE FORM 990 CAME FROM THE AUDITED FINANCIALS AND WORKPAPERS BY THE EXTERNAL AUDITORS. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS AND DIRECTORS ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST STATEMENT ANNUALLY. IF ANY INDIVIDUAL WERE TO REPORT A CONFLICT OF INTEREST, THE SPECIFIC SITUATION WOULD BE REVIEWED AND MANAGED AS DEEMED APPROPRIATE BY THE REMAINING BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION RETAINS THE SERVICES OF AN EXTERNAL COMPENSATION CONSULTING FIRM WHICH PROVIDES MARKET AND PEER GROUP COMPENSATION COMPARISON DATA. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS UTILIZES THIS DATA DURING THE PROCESS OF DETERMINING AND APPROVING COMPENSATION FOR THE CREDIT UNION'S CEO. THE CEO IN CONJUNCTION WITH THE CREDIT UNION'S HUMAN RESOURCES DEPARTMENT UTILIZES THIS DATA WHEN DETERMINING AND APPROVING THE COMPENSATION FOR THE CREDIT UNION'S OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY HAVE NOT BEEN MADE READILY AVAILABLE TO THE GENERAL PUBLIC. IF WE WERE TO RECEIVE A REQUEST FOR ANY SUCH DOCUMENTS, WE WOULD CAREFULLY CONSIDER THE REQUEST AND RESPOND APPROPRIATELY. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE POSTED MONTHLY IN THE BRANCH FACILITIES. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICS 636,409. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. MEMBER OPTIONS LLC 1936 ARLINGTON BLVD CHARLOTTESVILLE VA 22901 061652426 CONSUMER MORTGAG ORIGINATIONS VA 3768559 5569886 UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION