2020-07-22T11:12:27-05:00 2019-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2019-01-01 586032554 LGE COMMUNITY CREDIT UNION LGEC 7704240060 430 COMMERCE PARK DRIVE MARIETTA GA 30060 CHRIS LEGGETT CEO 7704240060 2020-07-09 1 DOUGLAS J ORTH P01076394 3052328272 104.11.88.150 2020-07-09 11:40:52 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B2EFC313AB4EEA4760135470907D022D8B217834 2019 2021-01-29 14:40:06Z CHRIS LEGGETT 430 COMMERCE PARK DRIVE MARIETTA GA 30060 80405341 0 3804 X WWW.LGECCU.ORG X 1951 GA PROVIDE SAVINGS AND LENDING ACTIVITIES TO MEMBER OWNERS OF THE COOPERATIVE 9 9 343 15 596144 0 0 0 62233886 68214594 5210651 5119790 1650393 6244457 69094930 79578841 0 148547 0 0 23718337 26676948 0 0 0 30345647 33716957 54063984 60542452 15030946 19036389 1391337596 1433057305 1231707545 1252798186 159630051 180259119 PROVIDE SAVINGS AND LENDING ACTIVITIES TO MEMBER OWNERS OF THE COOPERATIVE. 0 0 INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 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 1 1 1 0 1 0 0 0 0 0 0 0 0 1 0 1 0 0 1 41317 0 1 343 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X SEAN D FERRELL 7704212576 430 COMMERCE PARK DRIVE MARIETTA GA 30060 MICHAEL L SANSEVIRO V. CHAIRPERSON 1.00 X 0 0 0 RICHARD A DIXON CHAIRPERSON 1.00 X 0 0 0 ALLAN BISHOP BOD MEMBER/SC MEMBER 1.00 X 0 0 0 FRANK S MYERS BOD MEMBER 1.00 X 0 0 0 JAN G AUSTIN BOD TREASURER 1.00 X 0 0 0 MONTE F CAGLE BOD SECRETARY 1.00 X 0 0 0 CHERYL BRAUND BOD MEMBER 1.00 X 0 0 0 CURT EARNEST BOD MEMBER/SC MEMBER 1.00 X 0 0 0 DENISE O'CONNELL BOD MEMBER/SC MEMBER 1.00 X 0 0 0 RON SUMPTER SC MEMBER 1.00 X 0 0 0 SUSAN BROWNING SC MEMBER 1.00 X 0 0 0 CHRIS LEGGETT PRESIDENT/CEO 40.00 X 481101 0 64409 SEAN FERRELL SVP/CFO 40.00 X 230850 0 51560 LAURA KING EVP/COO 40.00 X 377935 0 50082 STEVE STANFIELD SVP/CRO 40.00 X 225117 0 48838 SUSAN TILLERY SVP/CLO 40.00 X 231805 0 47673 JANET C WAGNER SVP/CAO 40.00 X 226605 0 51882 RODNEY GRIZZLE SVP/COO 40.00 X 192412 0 47639 MURALI KRISHNAN SVP/CIO 40.00 X 260724 0 14586 CHRIS RADZOM VP OF LGEIRS 40.00 X 187678 0 30851 VALERIE HARPER VP OF LENDING 40.00 X 152836 0 26298 SCOTT BROOKS VP MARKETING & BUS DEVELOPMENT 40.00 X 163216 0 20814 COLLIN KEE FINANCIAL ADVISOR 40.00 X 148188 0 40165 ANTHONY FLETCHER VP OF DIGITAL SERVICES & DATA 40.00 X 149874 0 23281 3028341 0 518078 31 0 1 0 ALKAMI TECHNOLOGY 5601 GRANITE PARKWAY SUITE 120 PLANO TX 75024 WEB BILLPAY AND ONLINE BANKING 1443629 RG FACILITY MAINTENANCE PO BOX 1593 WOODSTOCK GA 30188 BUILDING MAINTENANCE 1380516 GLORY GLOBAL SOLUTIONS INC DEPT CH 16630 PALATINE PALATINE IL 600556630 CASH TECHNOLOGY SERVICES 727336 VISA DPS P O BOX 742233 LOS ANGELES CA 90074 CREDIT CARD PROCESSING 683945 JACK HENRY P O BOX 609 MONETT MO 65708 COMPUTER HARDWARE 536258 37 INCOME FROM LOANS 522100 46981578 46981578 FEE/OTHER INCOME 522100 20636872 20636872 INSURANCE INCOME 524298 567011 567011 NON-MEMBER ATM FEE INCOME 900099 29133 29133 68214594 5191336 5191336 754954 826500 -71546 -71546 -71546 GAIN ON DISPOSITION OF OTHER ASSE 522100 6244457 6244457 6244457 79578841 78982697 596144 0 X 130547 18000 2603218 15125117 1870684 5734704 1343225 114373 194830 742667 1888033 10428132 2310459 425774 8884423 166729 958905 PROVISION FOR LOAN LOSS 3805519 LOAN SERVICING 3735114 MISCELLANEOUS EXPENSE 61999 60542452 7704525 9887725 63560144 96300083 667491 5751976 8208532 1094942544 1100555857 916691 1038790 45131590 28033986 15294573 17097604 124083729 118766342 13378965 15918798 16954365 16653075 48082593 48630499 1391337596 1433057305 17634048 13733852 70000000 68000000 1144073497 1171064334 1231707545 1252798186 X 0 0 0 0 159630051 180259119 159630051 180259119 1391337596 1433057305 19036389 1592679 0 X X 0 1 X 1 0 6331687 6331687 12812913 6441486 6371427 3745598 2198849 1546749 22241392 19393651 2847741 17097604 REGULAR SHARES 396273265 MONEY MARKET 267693830 CERTIFICATES 110093115 SHARE DRAFTS 356954929 IRA 40049195 1171064334 X 79578841 0 79578841 0 79578841 60542452 0 60542452 0 60542452 PART X, LINE 2: FEDERAL AND STATE TAX EXEMPTION: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE 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 ON EXAMINATION BY TAX AUTHORITIES. MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE INCOME FROM THE CREDIT UNION'S WHOLLY OWNED CUSO, IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. 1 LGE COMMUNITY OUTREACH FOUNDATION INC 430 COMMERCE PARK DRIVE MARIETTA GA 30060 262905697 501(C)(3) 125000 CHARITABLE CONTRIBUTION 1 0 SCHOLARSHIPS 4 18000 PART I, LINE 2: THE CREDIT UNION MAINTAINS RECORDS OF CONTRIBUTIONS. THE FOUNDATION WORKS WITH EMPLOYEES AND VOLUNTEERS OF LGE COMMUNITY CREDIT UNION AND RESIDENTS WITHIN COBB, CHEROKEE, FULTON AND PAULDING COUNTIES TO PLAN AND HOST FUND RAISING EVENTS TO RAISE MONIES FOR NON-PROFIT AGENCIES WITHIN THOSE COUNTIES. X 1 1 X X 1 1 0 CHRIS LEGGETT PRESIDENT/CEO 456323 0 10375 0 14403 0 35051 0 29358 0 545510 0 0 0 SEAN FERRELL SVP/CFO 204430 0 26420 0 0 0 28062 0 23498 0 282410 0 0 0 LAURA KING EVP/COO 215226 0 8645 0 154064 0 27414 0 22668 0 428017 0 0 0 STEVE STANFIELD SVP/CRO 196079 0 29038 0 0 0 25286 0 23552 0 273955 0 0 0 SUSAN TILLERY SVP/CLO 205779 0 26026 0 0 0 26779 0 20894 0 279478 0 0 0 JANET C WAGNER SVP/CAO 200590 0 26015 0 0 0 26050 0 25832 0 278487 0 0 0 RODNEY GRIZZLE SVP/COO 175092 0 17320 0 0 0 19957 0 27682 0 240051 0 0 0 MURALI KRISHNAN SVP/CIO 238224 0 22500 0 0 0 1662 0 12924 0 275310 0 0 0 CHRIS RADZOM VP OF LGEIRS 123496 0 64182 0 0 0 6682 0 24169 0 218529 0 0 0 VALERIE HARPER VP OF LENDING 139842 0 12994 0 0 0 14963 0 11335 0 179134 0 0 0 SCOTT BROOKS VP MARKETING & BUS DEVELOPMENT 149377 0 13839 0 0 0 11037 0 9777 0 184030 0 0 0 COLLIN KEE FINANCIAL ADVISOR 45507 0 102681 0 0 0 16306 0 23859 0 188353 0 0 0 ANTHONY FLETCHER VP OF DIGITAL SERVICES & DATA 137485 0 12389 0 0 0 13148 0 10133 0 173155 0 0 0 PART I, LINES 4A-B LINE 4A: SEVERANCE IN THE AMOUNT OF $154,064 WAS PAID OUT. LINE 4B: THE ORGANIZATION DEPOSITED FUNDS INTO A LIFE INSURANCE POLICY ON THE LIVES OF CHRIS LEGGETT, LAURA KING AND CAROL WAGNER. DURING LIFE, AND SUBJECT TO THE POLICY GENERATING SUFFICIENT VALUES, THE PARTICIPANTS CAN BORROW FROM THE POLICY. AT DEATH, THE ORGANIZATION RECOVERS ITS PREMIUMS PLUS INTEREST PLUS ADDITIONAL KEY-PERSON INSURANCE PROCEEDS. THE PRESIDENT/CEO, CHRIS LEGGETT, EVP/COO LAURA KING, SVP/CRO STEVE STANFIELD, SVP/CLO SUSAN TILLERY, SVP/CAO JANET C. WAGNER, SVP/CFO SEAN FERRELL, SVP JUDY KINNEY HAVE A 457(F) DEFERRED COMPENSATION ARRANGEMENT. THE APPROXIMATE BALANCE OF THE BENEFIT PAYABLE TO EACH PARTICIPANT AS OF DECEMBER 31, 2019 WERE AS FOLLOWS: CHRIS LEGGETT: $607,393 LAURA KING: $301,685 STEVE STANFIELD: $248,700 SUSAN TILLERY: $197,241 CAROL WAGNER: $104,405 SEAN FERRELL: $82,070 JUDY KINNEY: $35,080 CHRIS LEGGETT PRESIDENT/CEO TO FUND SPLIT DOLLAR LIFE INSURANCE PLAN X 3750000 6669412 0 1 1 CAROL WAGNER SVP/CAO TO FUND SPLIT DOLLAR LIFE INSURANCE PLAN X 1000000 977513 0 1 1 LAURA KING EVP/COO TO FUND SPLIT DOLLAR LIFE INSURANCE PLAN X 1000000 561607 0 1 1 8208532 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 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 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. 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 LGECCU ENGAGED A PAID PREPARER, DOEREN MAYHEW, TO COMPLETE OUR FORM 990 FILING. UPON COMPLETION OF THE RETURN, IT WAS REVIEWED AND APPROVED BY EXECUTIVE MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 12C LGECCU MAINTAINS A CONFLICT OF INTEREST POLICY WITHIN ITS CODE OF ETHICS. THIS POLICY IS ENFORCED AT ALL TIMES AND REVIEWED PERIODICALLY BY OUR INTERNAL AUDIT DEPARTMENT. FORM 990, PART VI, SECTION B, LINE 15 LGECCU USES SURVEY DATA DURING AN ANNUAL REVIEW PROCESS TO DETERMINE THE REASONABLENESS OF ALL COMPENSATION AND BENEFITS. THE REVIEW OF THE CEO'S COMPENSATION IS A FUNCTION OF THE BOARD OF DIRECTORS. ANNUALLY, THE BOARD USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY TO DETERMINE THE CEO'S COMPENSATION. FOR ALL OTHER POSITIONS IN THE ORGANIZATION, PAY RANGES ARE REVIEWED AND APPROVED ON AN ANNUAL BASIS BY THE BOARD OF DIRECTORS UTILIZING DATA FROM AN INDEPENDENT COMPENSATION STUDY. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART IX, LINE 11G PROFESSIONAL & OUTSIDE SERVICES 742,667. 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. LGE INSURANCE SERVICES LLC 430 COMMERCE PARK DR MARIETTA GA 30060 272540699 INSURANCE SALES GA 576510 783717 LGE COMMUNITY CREDIT UNION