2020-10-28T10:01:42-07:00 2019-12-31 990 2019-01-01 620681671 LEADERS CREDIT UNION LEAD 7316641784 87 Murray Guard Drive Suite A Jackson TN 38305 Seth Rudd CFO 7316641784 2020-09-15 68.216.166.26 2019 2021-04-22 16:20:28Z Leaders Credit Union Todd Swims 87 Murray Guard Drive Suite Jackson TN 38305 34678622 0 1182 X www.leaderscu.com X 1957 TN Provision of financial services to members in the form of loans, share accounts and other financial institutional services. 9 9 168 9 714885 0 0 0 15371495 18069120 449493 682355 13670620 15850094 29491608 34601569 16000 16000 0 0 10371022 12492964 0 0 0 14313301 16884160 24700323 29393124 4791285 5208445 389102601 441961763 343508845 390826150 45593756 51135613 State chartered credit union that provides financial services to members in the form of loans, share accounts and other financial institutional services. 0 0 Provision of financial services to members in the form of loans, share accounts and other financial institutional services (53,208 members). 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 1 0 0 0 0 0 1 0 0 0 1 10443 0 0 168 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 0 0 1 1 0 X Todd Swims 7316641784 87 Murray Guard Drive Suite A Jackson TN 38305 Todd Swims Manager/CEO 40 0 X 533653 0 86597 Spencer Pratt Executive VP 40 0 X 283960 0 31019 Seth Rudd Chief Financial Officer 40 0 X 228674 0 27709 Chris Gray VP Mortgage 40 0 X 247104 0 8313 Jared Freeman Chief Experience Officer 40 0 X 205197 0 20472 Leigh Anne VP Marketing 40 0 X 150420 0 19568 Ron Hill Board Chairperson 2 0 X 0 0 0 Diane Kelley Board Secretary 2 0 X 0 0 0 Kirk Newcom Board Member 2 0 X 0 0 0 Eddie Hays Board Vice-Chairperson 2 0 X 0 0 0 Currie Higgs Board Member 2 0 X 0 0 0 Rusty Butcher Board Treasurer 2 0 X 0 0 0 Eddie Mae Pirtle Board Member 2 0 X 0 0 0 Dave Bratcher Board Member 2 0 X 0 0 0 Bart Teague Board Member 2 0 X 0 0 0 1649008 0 193678 6 0 1 0 PSCU 560 Carillon Parkway St Petersburg FL 33716 Debit and credit card services 1650906 Fiserv PO Box 745148 Atlanta GA 30374 Data Processing 974286 NCR PO Box 740641 Los Angeles CA 90074 Home Banking Services 712617 QSI INC 107 Schuler Drive Bardstown KY 40004 Bank Equipment and servicing 466611 Open Lending 901 S Mopac Expressway Bldg One Ste 510 Austin TX 78746 Loan decisioning 395867 13 0 Interest on Loans 522130 18069120 18069120 0 0 0 0 0 0 18069120 693925 693925 0 0 0 0 0 0 0 0 0 0 147948 0 39569 0 108379 0 108379 0 0 108379 0 25914 0 37484 0 -11570 -11570 -11570 0 0 Fee Income 522130 12688629 12649975 38654 0 3053086 2376855 676231 0 15741715 34601569 33778305 714885 108379 16000 594763 9825772 494815 854022 723592 14510 60239 510506 510550 875815 1066723 656409 248311 70463 4627876 1002662 160919 Provision-Loan & overdraft 2089000 ATM/POS Card expense 2008908 Loan servicing expense 1712817 Home banking expense 794909 473543 29393124 0 0 0 5035884 5093391 17932777 22326339 328799124 374095595 798000 2683499 606302 693755 19479167 5937620 13613794 13541547 15066749 13540878 7249971 9986759 389102601 441961763 3255104 3948024 241263 175609 17766639 12154887 322245839 374547630 343508845 390826150 X 0 0 19946146 22850598 25647610 28285015 45593756 51135613 389102601 441961763 X 5208445 333412 0 0 0 0 X 0 1 1 0 1000 0 0 1000 1000 1 Tennessee Credit Union League PO Box 21550 Chattanooga TN 37424 422728395 1000 0 Schedule C, Part I-A, Line 1 Schedule C, Part I-A, Line 1 - Schedule C, Part 1-A, Line 1- Contributions were made to a PAC. 90000 3257144 3347144 913983 10386910 3091045 8209848 0 0 0 0 0 4831130 2846575 1984555 0 0 0 0 13541547 0 Member Deposits 374547630 374547630 X 34652712 0 0 0 51143 51143 34601569 0 0 0 34601569 29444267 0 0 0 51143 51143 29393124 0 0 0 29393124 Schedule D, Part X, Line 2 The Credit Union is exempt by statue, from federal and state income taxes on business related income. The Credit Union and its subsidiary file an informational return with the Internal Revenue Service. The Credit Union accounts for uncertain tax positions in accordance with GAAP. There were no uncertain tax positions reported in 2019 or 2018 in the consolidated financial statements. In the event of an uncertain tax position, the Credit Union would record interest expense and penalties related to uncertain tax positions as interest expense and other noninterest expense, respectively. Schedule D, Part XI, Line 2d Rental expense for real property held for investment in the amount of $39,569 is netted against rental income in Part VIII Statement of Revenue on the 990 but is included in expenses on the audited financial statements. Loss on sale of assets in the amount of $11,570, is deducted from revenue in Part VIII, but is included in expenses on the audited financial statements. Rounding 4. Schedule D, Part XII, Line 2d Rental expense for real property held for investment in the amount of $39,569 is netted against rental income in Part VIII Statement of Revenue on the 990 but is included in expenses on the audited financial statements. Loss on sale of assets in the amount of $11,570, is deducted from revenue in Part VIII, but is included in expenses on the audited financial statements. Rounding 4. 0 Jackson & Madison County Chamber of Commerce dba Jackson Chamber 197 Auditorium St Jackson TN 38301 620154490 501(c)(6) 6000 0 book Forward Jackson campaign to improve Jackson. Economic development capital campaign funded by local investors and focused on four initiatives: regional and local economic development, tourism, workforce development and small businesses. Jackson-Madison County School System 310 N Parkway Jackson TN 38305 626000732 JMCSS 10000 0 book Annual teacher inservice and general fund 0 2 Schedule I, Part I, Line 2 Schedule I, Part I, Line 2 - Jackson & Madison County Chamber of Commerce- The Forward Jackson 2.0 campaign provides an annual report and is audited yearly by a third-party accounting firm. Jackson-Madison County School System- Leaders attends the in-service event that we sponsor at the $10,000 level. Any money not used for the day's events goes to their general fund. X X X 1 1 X X X X 0 1 0 Todd Swims Manager/CEO 302671 0 99684 0 131298 0 65887 0 20710 0 620250 0 0 0 Spencer Pratt Executive VP 194248 0 41721 0 47990 0 12636 0 18383 0 314978 0 0 0 Seth Rudd Chief Financial Officer 174301 0 38239 0 16134 0 10080 0 17629 0 256383 0 0 0 Jared Freeman Chief Experience Officer 164062 0 32916 0 8220 0 8401 0 12071 0 225670 0 0 0 Chris Gray VP Mortgage 117383 0 129230 0 491 0 7042 0 1271 0 255417 0 0 0 Leigh Anne VP Marketing 115728 0 24799 0 9893 0 7497 0 12071 0 169988 0 0 0 Schedule J, Part I, Line 1a Directors of the Credit Union and executives attended certain seminars and events that were for the business purposes of the Credit Union. Spouses of certain directors and executives also went on these trips and certain travel expenses were paid for by the Credit Union. The Credit Union was reimbursed by the directors, the expense was offset by mileage expense owed to the directors, and/or the spouses expense was reported to the spouse on a 1099-MISC. The executive's spouse travel expense was grossed up and reported as compensation on the executive's W-2. Country Club dues were paid on behalf of the CEO and were grossed up and reported as compensation on the CEO's W-2. Schedule J, Part I, Line 3 Human resource manager uses Compease salary administration program to determine responsibilities and compensation for employees at all levels. Compease uses industry specific job descriptions, evaluation system and geographic salary ranges to develop compensation ranges. A compensation committee approves overall salary budget and CEO compensation based on Compease research. Schedule J, Part I, Line 4 The CEO of the Credit Union was participating in a 457(f) plan. Todd Swims Manager/CEO Collateral assignment Split Dollar Life Insurance X 798000 2683499 0 1 1 2683499 Gourmet Your Way Son of board member 13029 Catering 0 Form 990, Part VI, Section A, Line 6 Because Leaders Credit Union is considered a mutual entity, members are considered individuals or business that qualify for membership. Anyone living, working, worshipping, or attending school in Madison or Lake counties in Tennessee; employees working at one of our Select Employee Groups (SEGs); and employees or members of one of our Associational Groups are eligible for membership. The credit union is a not-for-profit corporation with members. The members elect the members of the board of directors (governing body) and the governing body is not the organization's only members. The members can receive a share of the organizations profits or a share of the organization's net assets upon dissolution. Form 990, Part VI, Section A, Line 7a A quorum of members at the annual meeting elect one or more members of the board of directors (governing body) as vacancies arise, based on nominations of the nominating committee. Form 990, Part VI, Section A, Line 7b A quorum of members at the annual meeting elect one or more members of the board of directors (governing body) as vacancies arise, based on nominations of the nominating committee. Form 990, Part VI, Section B, Line 11b The IRS form was prepared by the accounting manager and was reviewed by the CFO prior to submission to the IRS. A copy was provided to the board after filing. Form 990, Part VI, Section B, Line 12c Conflicts of Interest Policy enforcement is the responsibility of the Internal Compliance Officer that reports directly to the Supervisory Committee regarding any exceptions to policy. Additionally, the board and management of the Credit Union review and address potential conflicts of interest should they arise. Form 990, Part VI, Section B, Line 13 We do not have a specific Whistleblower Policy but there are sections within the Employee handbook that cover reporting conduct or violations. Form 990, Part VI, Section B, Line 14 We do not have a written document destruction policy. However, we follow the rules of the Department of Financial Institutions Retention of Records Chapter 0180-2 found on the Tennessee Department of Financial Institutions website. Form 990, Part VI, Section B, Line 15 Human resource manager uses Compease salary administration program to determine responsibilities and compensation for employees at all levels. Compease uses industry specific job descriptions, evaluation system and geographic salary ranges to develop compensation ranges. A compensation committee approves overall salary budget and CEO compensation based on Compease research. Form 990, Part VI, Section C, Line 19 The organization's governing documents and conflicts of interest policy are available to the public upon request. The financial statements are posted annually in the lobby at 214 Oil Well Rd. in Jackson, TN. Form 990, Part XI, Line 9 Rental expense for real property held for investment in the amount of $39,569 is netted against rental income in Part VIII Statement of Revenue on the 990 but is included in expenses on the audited financial statements. Loss on sale of assets in the amount of $11,570, is deducted from revenue in Part VIII, but is included in expenses on the audited financial statements. Rounding . Leaders Edge LLC 111 Murray Guard Drive Suite A Jackson TN 38305 455571653 Indirect Lending TN 464104 113852 N/A