2025-09-15T12:17:34-05:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 620517615 US COMMUNITY CREDIT UNION USCO 6152568712 PO BOX 140570 NASHVILLE TN 37214 KAMERAN LAUX CFO 6152568712 2025-09-15 0 AUBREY CLEGG P01076395 3052328272 2025-09-12 2024 2025-03-06 01:10:19Z BEN JOHNSON PO BOX 140570 NASHVILLE TN 37214 21481444 0 X WWW.USCCU.ORG X 1949 TN WE'LL ALWAYS BE THERE WITH EXCELLENT KNOWLEDGE AND OUTSTANDING SERVICE. WHENEVER YOU NEED US, WE'LL BE HERE. US COMMUNITY CREDIT UNION, "VALUES YOU CAN TRUST." 7 7 118 7 52200 0 273939 0 11996373 16348926 1078860 1706173 6168694 3360647 19517866 21415746 0 0 0 0 7238981 7325807 0 0 0 10105931 12326315 17344912 19652122 2172954 1763624 294732281 318990368 264725293 286878276 30006988 32112092 WE'LL ALWAYS BE THERE WITH EXCELLENT KNOWLEDGE AND OUTSTANDING SERVICE. WHENEVER YOU NEED US, WE'LL BE HERE. US COMMUNITY CREDIT UNION, "VALUES YOU CAN TRUST." 0 0 THE ORGANIZATION EMPLOYED A DEDICATED TEAM OF FINANCIAL PROFESSIONALS TO DELIVER HIGH-QUALITY MEMBER SERVICES AND MAINTAIN OPERATIONAL INTEGRITY. SALARIES SUPPORTED A WIDE RANGE OF ACTIVITIES ESSENTIAL TO THE CREDIT UNION'S EXEMPT PURPOSE, INCLUDING ACCOUNT MANAGEMENT, LENDING SERVICES, FINANCIAL EDUCATION, MEMBER SUPPORT, REGULATORY COMPLIANCE, AND COMMUNITY OUTREACH. COMPENSATION ALSO COVERED STAFF INVOLVED IN DIGITAL BANKING, LOAN PROCESSING, AND BRANCH OPERATIONS, ENSURING MEMBERS HAD ACCESS TO CONVENIENT, SECURE, AND PERSONALIZED FINANCIAL SERVICES. INTEREST EXPENSES WERE INCURRED IN THE ORDINARY COURSE OF BUSINESS TO SUPPORT DEPOSIT ACCOUNTS HELD BY MEMBERS. THESE PAYMENTS REPRESENT THE CREDIT UNION'S COMMITMENT TO PROVIDING MEMBERS WITH COMPETITIVE RETURNS ON SAVINGS AND OTHER DEPOSIT INSTRUMENTS. BY OFFERING INTEREST-BEARING PRODUCTS, THE CREDIT UNION FOSTERS FINANCIAL STABILITY AND ENCOURAGES PERSONAL SAVINGS AMONG MEMBERS, PARTICULARLY THOSE OF MODEST MEANS, WHICH DIRECTLY ALIGNS WITH ITS MISSION TO PROMOTE THRIFT AND PROVIDE A SOURCE OF CREDIT AT REASONABLE RATES. THE PROVISION FOR LOAN LOSSES ENSURES THE LONG-TERM FINANCIAL STABILITY AND SOUNDNESS OF THE CREDIT UNION, PROTECTING MEMBER DEPOSITS AND PRESERVING TRUST IN ITS LENDING OPERATIONS. THIS ACCOUNTING EXPENSE REFLECTS PRUDENT FINANCIAL MANAGEMENT AND RISK MITIGATION FOR POTENTIAL LOAN DEFAULTS, PARTICULARLY AMONG UNDERSERVED OR ECONOMICALLY VULNERABLE MEMBERS. BY MAINTAINING ADEQUATE RESERVES, THE CREDIT UNION CAN CONTINUE TO OFFER ACCESSIBLE, FAIR, AND RESPONSIBLE CREDIT OPTIONS, CONSISTENT WITH ITS CORE MISSION OF SERVING THE COMMUNITY'S FINANCIAL NEEDS. 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 1 0 0 0 0 0 0 0 0 0 0 0 0 1 5265 0 1 118 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X KAMERAN LAUX 6152568712 PO BOX 140570 NASHVILLE TN 37214 ROY JONES CHAIRPERSON 2.00 X 1542 0 0 HEWITT SAWYERS VICE CHAIRPERSON 2.00 X 0 0 0 CINDY BABIN TREASURER 2.00 X 0 0 0 CHRISTOPHER WESTBROOK SECRETARY 2.00 X 0 0 0 CHARLES BODDIE DIRECTOR 2.00 X 0 0 0 JASON BROCKMAN DIRECTOR 2.00 X 2286 0 0 NORMAN LOVE DIRECTOR 2.00 X 1638 0 0 BEN JOHNSON CEO 40.00 X 361816 0 25526 KAMERAN LAUX CFO (EFFECTIVE 4/1/24) 40.00 X 191514 0 47563 GREGORY BRENT CRO 40.00 X 193011 0 32841 JON RYAN JERNIGAN COO 40.00 X 161051 0 22825 NATHAN BROWN CFO (1/1/24 - 3/31/24) 40.00 X 147953 0 7766 KIMBERLY LAMONT SVP OF LENDING 40.00 X 146794 0 14476 STEVEN J KIBBEL WEALTH MANAGEMENT ADVISOR 40.00 X 117513 0 9490 LAUREN BOLUS VP OF MORTGAGE LENDING & BUSINESS SERVICES 40.00 X 115679 0 3538 BRIANNA BURDEN VP OF MEMBER EXPERIENCE 40.00 X 107763 0 12709 SHARON RENFRO SENIOR AVP OF ADMINISTRATION 40.00 X 109002 0 11916 1657562 0 188650 12 0 1 0 FISERV PO BOX 934057 ATLANTA GA 31193 CORE PROVIDERS AND DEBIT CARD SERVICES 1329539 CORELATION 2305 HISTORIC DECATUR RD STE 300 SAN DIEGO CA 92106 CORE PROVIDERS AND DEBIT CARD SERVICES 374858 ALKAMI PO BOX 122223 DEPT 2223 DALLAS TX 75312 DIGITAL BANKING 229609 ACUMEN PO BOX 306538 NASHVILLE TN 37230 IT SERVICES 203525 SAMAHA & ASSOCIATES 2020 N BAYSHORE DR UNIT 3003 MIAMI FL 33137 CONSULTANTS 196594 8 MEMBER LOAN INTEREST 522100 13555406 13555406 FEES AND CHARGES 522100 2741320 2741320 FINANCE AND INSURANCE 520000 52200 52200 16348926 1706871 1706871 65000 65698 -698 -698 -698 INTERCHANGE INCOME 522100 1802438 1802438 OTHER OPERATING INCOME 522100 914839 914839 COMMISSION INCOME 522100 643370 643370 3360647 21415746 21363546 52200 0 X 1197332 4745614 302632 644865 435364 54750 161417 336380 377534 2440096 1382883 319437 307280 4623615 356485 94158 PROVISION FOR LOAN LOSS 1444410 LOAN SERVICING EXPENSE 427870 19652122 2083819 1760556 14206872 30819218 377316 14944737 15316923 217655738 222167397 198566 1858190 14275424 3691406 10869558 10584018 29468672 30410424 272100 253800 5032219 5442526 294732281 318990368 9054187 264725293 277824089 264725293 286878276 X 0 0 0 0 30006988 32112092 30006988 32112092 294732281 318990368 1763624 341480 0 X X 0 1 X 1 0 3334219 3334219 8735508 1956311 6779197 54782 54782 0 2150915 1680313 470602 10584018 CERTIFICATES OF DEPOSIT 94470098 IRA SHARES 1836929 MONEY MARKET SHARES 31648178 SHARE DRAFTS 45623422 REGULAR SHARES 104245462 277824089 X 21415746 0 21415746 0 21415746 19652122 0 19652122 0 19652122 PART X, LINE 2: 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. X 1 1 X X X X X 0 1 0 BEN JOHNSON CEO 286479 0 64498 0 10839 0 20157 0 5369 0 387342 0 0 0 KAMERAN LAUX CFO (EFFECTIVE 4/1/24) 163542 0 24300 0 3672 0 42194 0 5369 0 239077 0 0 0 GREGORY BRENT CRO 167145 0 19278 0 6588 0 26660 0 6181 0 225852 0 0 0 JON RYAN JERNIGAN COO 135606 0 23050 0 2395 0 17533 0 5292 0 183876 0 0 0 KIMBERLY LAMONT SVP OF LENDING 126521 0 19600 0 673 0 9107 0 5369 0 161270 0 0 0 NATHAN BROWN CFO (1/1/24 - 3/31/24) 107184 0 38392 0 2377 0 6057 0 1709 0 155719 0 0 0 PART I, LINE 4B THE CREDIT UNION HAS ENTERED INTO A COLLATERAL ASSIGNED SPLIT DOLLAR INSURANCE ARRANGEMENT WITH CERTAIN EXECUTIVES (LISTED BELOW). THE AGREEMENT INVOLVES A METHOD OF PAYING FOR INSURANCE COVERAGE FOR THE EXECUTIVES BY SPLITTING THE ELEMENTS OF A LIFE INSURANCE POLICY. UNDER THE AGREEMENT, THE EXECUTIVES ARE THE OWNER OF THE POLICIES AND MAKE A COLLATERAL ASSIGNMENT TO THE CREDIT UNION IN RETURN FOR A LOAN EQUAL TO THE AMOUNT OF PREMIUMS TO BE PAID ON BEHALF OF THE EXECUTIVES PLUS ACCRUED INTEREST AT A SPECIFIC RATE. AT THE TIME OF DEATH, THE CREDIT UNION WILL BE PAID THE LOAN AMOUNT PLUS ACCRUED INTEREST AND THE BALANCE OF THE INSURANCE BENEFITS WILL BE PAID TO THE EXECUTIVES' DESIGNATED BENEFICIARIES AND THE CREDIT UNION AS DEFINED IN THE LEGAL AGREEMENT. THE LOAN BALANCE IS BASED ON THE CASH SURRENDER VALUE OF THE RELATED POLICIES OR THE LOAN NOTE AND THE VALUE OF THE DEPOSIT ACCOUNTS. BEN JOHNSON, CEO NATHAN BROWN, CFO (1/1/24 - 3/31/24) CINDY BABIN, FORMER CFO, CURRENT TREASURER (BOD) BEN JOHNSON CEO SPLIT DOLLAR X 3625000 3914273 0 1 1 BEN JOHNSON CEO SPLIT DOLLAR X 1300000 1470468 0 1 1 NATHAN BROWN CFO (1/1/24 - 3/31/24) SPLIT DOLLAR X 2850000 3077428 0 1 1 PAUL JOHNSON FORMER CEO SPLIT DOLLAR X 1800000 2649526 0 1 1 PAUL JOHNSON FORMER CEO SPLIT DOLLAR X 1700000 2051452 0 1 1 CINDY BABIN FORMER EVP, CURRENT TREASURER SPLIT DOLLAR X 654224 684223 0 1 1 CHERYL THOMPSON FORMER CEO SPLIT DOLLAR X 1290000 1469553 0 1 1 15316923 FORM 990, SCH L, PART II THE CREDIT UNION HAS ENTERED INTO A COLLATERAL ASSIGNED SPLIT DOLLAR INSURANCE ARRANGEMENT WITH CERTAIN CURRENT AND FORMER MEMBERS OF THE EXECUTIVE MANAGMENT TEAM. THE AGREEMENT INVOLVES A METHOD OF PAYING FOR INSURANCE COVERAGE FOR THE EXECUTIVES BY SPLITTING THE ELEMENTS OF A LIFE INSURANCE POLICY. UNDER THE AGREEMENT, THE EXECUTIVES ARE THE OWNER OF THE POLICIES AND MAKE A COLLATERAL ASSIGNMENT TO THE CREDIT UNION IN RETURN FOR A LOAN EQUAL TO THE AMOUNT OF PREMIUMS TO BE PAID ON BEHALF OF THE EXECUTIVES PLUS ACCRUED INTEREST AT A SPECIFIC RATE. AT THE TIME OF DEATH, THE CREDIT UNION WILL BE PAID THE LOAN AMOUNT PLUS ACCRUED INTEREST AND THE BALANCE OF THE INSURANCE BENEFITS WILL BE PAID TO THE EXECUTIVES' DESIGNATED BENEFICIARIES AND THE CREDIT UNION AS DEFINED IN THE LEGAL AGREEMENT. THE LOAN BALANCE IS BASED ON THE CASH SURRENDER VALUE OF THE RELATED POLICIES OR THE LOAN NOTE AND THE VALUE OF THE DEPOSIT ACCOUNTS. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBER SHAREHOLDERS ELECT BOARD MEMBERS. 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 UPON PREPARATION OF THE FORM 990 BY EXTERNAL TAX PROFESSIONALS, THE DRAFT RETURN IS REVIEWED BY SENIOR MANAGEMENT, INCLUDING THE CHIEF FINANCIAL OFFICER. ONCE FILED, THE GOVERNING BODY IS INFORMED A COPY OF THE FORM 990 IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS AND DIRECTORS PROVIDE WRITTEN DISCLOSURE OF ANY ISSUES THAT COULD LEAD TO CONFLICTS OF INTEREST ON AN ANNUAL BASIS. THESE POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED BY INTERNAL AUDIT AND REPORTED TO THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 FROM A COMPENSATION STANDPOINT, THE CREDIT UNION UTILIZES MULTIPLE INDUSTRY RESOURCES TO ENSURE COMPETITIVE AND EQUITABLE PAY PRACTICES. THESE INCLUDE COMPEASE DATA, GENERAL SALARY SURVEY DATA, THE CUNA SALARY SURVEY, THE CREDIT UNION EXECUTIVE SURVEY, AND GALLAGHER SURVEY DATA FOR CREDIT UNIONS. COMPENSATION DECISIONS ARE GUIDED BY CORPORATE PERFORMANCE GOALS, BENCHMARKING AGAINST PEER INSTITUTIONS, AND INDIVIDUAL EMPLOYEE PERFORMANCE METRICS. SALARY INCREASES ARE DETERMINED WITHIN A STRUCTURED INCREASE MATRIX TO MAINTAIN CONSISTENCY, FAIRNESS, AND ALIGNMENT WITH THE ORGANIZATION'S STRATEGIC OBJECTIVES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATIONAL DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL AND OUTSIDE SERVICES 336,380. 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.