SOUTHEASTERN FEDERAL CREDIT UNION: Form 990, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- SOUTHEASTERN FEDERAL CREDIT UNION (EIN 58-0801176)
- Tax period
- 2019-01-01 to 2019-12-31
- Filed
- 2020-07-14
- IRS object ID
- 202021969349303247
- Schema version
- 2019v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2020-07-14T14:41:25-05:00 | ReturnTs |
| Tax Period End | 2019-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 570381582 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ELLIOTT DAVIS LLCPLLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 500 EAST MOREHEAD STREET SUITE 700 | AddressLine1Txt |
| City | CHARLOTTE | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2019-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 580801176 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTHEASTERN CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SOUT | BusinessNameControlTxt |
| Phone | 2292442732 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 2067 | AddressLine1Txt |
| City | VALDOSTA | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 316042067 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | E MICHAEL GUDELY | PersonNm |
| Person Title | PRESIDENT/CEO | PersonTitleTxt |
| Phone | 2292931318 | PhoneNum |
| Signature | 2020-07-09 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JANICE A RATICA | PreparerPersonNm |
| PTIN | P00358837 | PTIN |
| Phone | 7043338881 | PhoneNum |
| Preparation | 2020-07-09 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 104.129.205.7 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2020-07-09 | IPDt |
| IP Tm | 09:14:44 | IPTm |
| IP Timezone | ED | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 99AFABE94547B544723E04EEA8F4500EFBDE7EE5 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2021-04-22 16:20:28Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | E MICHAEL GUDELY | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 2067 | AddressLine1Txt |
| City | VALDOSTA | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 316042067 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $29,774,487 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SOUTHEASTERNCU.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1953 | FormationYr |
| Legal Domicile State | GA | LegalDomicileStateCd |
| Activity Or Mission | SOUTHEASTERN CREDIT UNION IS A COMMUNITY CHARTERED ORGANIZATION COVERING TWELVE SOUTH GEORGIA COUNTIES (BENN HILL, BERRIEN, BROOKS, COOK, ECHOLS, IRWIN, LANIER, LOWNDES, TIFT, TURNER, WARE AND PIERCE). SOUTHEASTERN CREDIT UNION IS ORGANIZED AND CHARTERED UNDER THE LAWS OF GEORGIA TO PROVIDE FINANCIAL SERVICES TO INDIVIDUALS AND BUSINESSES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 91 | TotalEmployeeCnt |
| Total Volunteers | 7 | TotalVolunteersCnt |
| Total Gross UBI | $140,656 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | -$54,645 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $12,854,393 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $13,831,642 | CYProgramServiceRevenueAmt |
| PY Investment Income | $987,036 | PYInvestmentIncomeAmt |
| CY Investment Income | $988,692 | CYInvestmentIncomeAmt |
| PY Other Revenue | $338,478 | PYOtherRevenueAmt |
| CY Other Revenue | $230,543 | CYOtherRevenueAmt |
| PY Total Revenue | $14,179,907 | PYTotalRevenueAmt |
| CY Total Revenue | $15,050,877 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $5,630,524 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $5,748,074 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $6,934,569 | PYOtherExpensesAmt |
| CY Other Expenses | $7,272,463 | CYOtherExpensesAmt |
| PY Total Expenses | $12,565,093 | PYTotalExpensesAmt |
| CY Total Expenses | $13,020,537 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,614,814 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,030,340 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $243,771,086 | TotalAssetsBOYAmt |
| Total Assets EOY | $262,534,175 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $219,356,210 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $234,850,453 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $24,414,876 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $27,683,722 | NetAssetsOrFundBalancesEOYAmt |
| Mission | THE MISSION OF SOUTHEASTERN CREDIT UNION IS TO DELIVER VALUE AND PROVIDE LEGENDARY SERVICE TO ITS MEMBERSHIP. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | SOUTHEASTERN CREDIT UNION SERVED THE FINANCIAL NEEDS OF 26,305 MEMBERS IN 2019. IT PROVIDED BUSINESS AND CONSUMER LOANS AND DEPOSITS TOTALING $197.9 MILLION AND $234.8 MILLION, RESPECTIVELY, THROUGH SEVEN FULL SERVICE LOCATIONS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SOUTHEASTERN CREDIT UNION SEEKS TO BE A GOOD COMMUNITY CITIZEN AND IS INVOLVED IN MANY COMMUNITY SERVICE ACTIVITIES. ANNUALLY EMPLOYEES AND THE CREDIT UNION CONTRIBUTE TO THE UNITED WAY. THE CREDIT UNION SUPPORTS THE LOCAL SCHOOL ATHLETICS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 8265 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 91 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | Yes (1) | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | Yes (1) | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | E MICHAEL GUDELY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2292442732 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 2067 | AddressLine1Txt |
| City | VALDOSTA | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 316042067 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (13 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| ROY MCNEAL | |||||||
| CHAIRMAN | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MOLLY DEESE | |||||||
| VICE CHAIRMAN | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| CHARLES EIDSON | |||||||
| TRASURER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DR WAYNE PLUMLY | |||||||
| SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JERRY PERMENTER | |||||||
| DIRECTOR/AUDIT COMMITTEE CHAIRMAN | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| C ANTHONY PAYTON | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JOHN LEONARD | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL GUDELY | |||||||
| PRESIDENT/CEO | 80.00 | $248,157 | $0 | $30,496 | Yes (X) | ||
| STEVE SAINZ | |||||||
| SR RISK OFFICER | 80.00 | $124,729 | $0 | $21,733 | Yes (X) | ||
| JENNIFER STASIO | |||||||
| CHIEF FINANCIAL OFFICER | 80.00 | $98,942 | $0 | $7,654 | Yes (X) | ||
| BERRY TANNER | |||||||
| VP WARE/PIERCE EXECUTIVE | 80.00 | $125,706 | $0 | $7,798 | Yes (X) | ||
| DONNEE UPSON | |||||||
| VP OF IT | 80.00 | $106,194 | $0 | $14,302 | Yes (X) | ||
| MATTHEW WILLIAMS | |||||||
| MORTGAGE LOAN ORIGINATOR | 80.00 | $207,729 | $0 | $20,732 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $911,457 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $102,715 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 5 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| JACK HENRY & ASSOCIATES INC | |||||
| PO BOX 609 | MONETT | MT | 65708 | DATA PROCESSING SERVICES | $838,764 |
| MICROAGE | |||||
| 8160 S HARDY DE STE101 | TEMPE | AZ | 85284 | EQUIPMENT ORDERING VENDOR | $285,956 |
| KASASA | |||||
| PO BOX 527 | LUBBOCK | TX | 79408 | REWARDS CHECKING AND LOAN PROGRAM | $204,482 |
| QUALITY DATA SYSTEMS | |||||
| 8655 CROWN CRESCENT COURT | CHARLOTTE | NC | 28227 | ATM PURCHASE AND SERVICING | $204,147 |
| SAFE SYSTEMS INC | |||||
| 1145 SANCTUARY PKWY STE 400 | ALPHARETTA | GA | 30009 | SERVICES | $135,950 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 7 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INCOME FROM LOANS | 522100 | $8,880,119 | $8,880,119 | |
| FEES, CHARGES, AND OTHER INCOME | 522100 | $4,810,867 | $4,810,867 | |
| UNRELATED BUSINESS TAXABLE INCOME | 522100 | $140,656 | $140,656 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $13,831,642 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $949,284 | TotalRevenueColumnAmt |
| Exclusion | $949,284 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $14,471,098 | SecuritiesAmt |
| Other | $291,920 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $14,440,940 | SecuritiesAmt |
| Other | $282,670 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $30,158 | SecuritiesAmt |
| Other | $9,250 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $39,408 | TotalRevenueColumnAmt |
| Exclusion | $39,408 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| CREDIT LIFE & DISABILITY INCOME | 522100 | $125,369 | $125,369 |
| MISCELLANEOUS INCOME | 522100 | $85,221 | $85,221 |
| CHECK PRINTING CHARGES | 522100 | $19,953 | $19,953 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $230,543 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $15,050,877 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $13,921,529 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $140,656 | UnrelatedBusinessRevenueAmt |
| Exclusion | $988,692 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $550,711 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,078,147 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $270,133 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $511,821 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $337,262 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,217 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $93,225 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,230,307 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $137,103 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $705,312 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $651,102 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $127,001 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,933,953 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $70,221 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $483,209 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $92,129 | TotalAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| BANK FEES | $634,462 |
| LOAN SERVICING | $320,306 |
| PROVISION FOR LOAN LOSS | $315,527 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $454,389 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,020,537 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,100,782 | BOYAmt |
| EOY | $6,064,987 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $729,413 | BOYAmt |
| EOY | $12,104,143 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $972,000 | BOYAmt |
| EOY | $4,965,678 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $182,646,342 | BOYAmt |
| EOY | $196,576,620 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $566,395 | BOYAmt |
| EOY | $520,697 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $12,935,139 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $4,130,878 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,668,839 | BOYAmt |
| EOY | $8,804,261 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $42,183,256 | BOYAmt |
| EOY | $28,815,008 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $347,000 | BOYAmt |
| EOY | $0 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,925 | BOYAmt |
| EOY | $15,364 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,539,134 | BOYAmt |
| EOY | $4,667,417 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $243,771,086 | BOYAmt |
| EOY | $262,534,175 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,178,858 | BOYAmt |
| EOY | $2,511,125 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $118,683 | BOYAmt |
| EOY | $135,391 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $217,058,669 | BOYAmt |
| EOY | $232,203,937 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $219,356,210 | BOYAmt |
| EOY | $234,850,453 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,414,876 | BOYAmt |
| EOY | $27,683,722 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,414,876 | BOYAmt |
| EOY | $27,683,722 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $243,771,086 | BOYAmt |
| EOY | $262,534,175 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $2,030,340 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,238,506 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,947,708 | OtherCostOrOtherBasisAmt |
| Book Value | $2,947,708 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,016,321 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,105,062 | DepreciationAmt |
| Book Value | $4,911,259 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $325,731 | OtherCostOrOtherBasisAmt |
| Depreciation | $181,059 | DepreciationAmt |
| Book Value | $144,672 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,645,379 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,844,757 | DepreciationAmt |
| Book Value | $800,622 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $8,804,261 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)
| DescDesc | AmtAmt |
|---|---|
| SHARES | $68,880,753 |
| IRA SHARES | $4,144,505 |
| CERTIFICATES OF DEPOSIT | $61,634,280 |
| SHARE DRAFT ACCOUNTS | $39,416,922 |
| MONEY MARKET ACCOUNTS | $58,127,477 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $232,203,937 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $15,050,877 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $15,050,877 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $15,050,877 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $13,020,537 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $13,020,537 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $13,020,537 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | AS A MORTGAGE LOAN SERVICER, THE CREDIT UNION RECEIVES PROPERTY TAX PAYMENTS AND INSURANCE PAYMENTS AND THEN REMITS THESE FUNDS TO THE APPLICABLE THIRD PARTIES ON BEHALF OF THE BORROWERS. |
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE ("IRC") AND STATE TAX LAWS. 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 UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN 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 DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE RELEASED TECHNICAL ADVICE MEMORANDA TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX. UNRELATED BUSINESS INCOME 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 FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. PRIOR TO THE CONVERSION TO A STATE CHARTER, THE CREDIT UNION WAS NOT REQUIRED TO FILE ANY FEDERAL INCOME TAX RETURNS. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MICHAEL GUDELY | ||||||||||||||
| PRESIDENT/CEO | $248,157 | $0 | $0 | $0 | $0 | $0 | $17,650 | $0 | $12,846 | $0 | $278,653 | $0 | $0 | $0 |
| MATTHEW WILLIAMS | ||||||||||||||
| MORTGAGE LOAN ORIGINATOR | $24,000 | $0 | $183,729 | $0 | $0 | $0 | $14,598 | $0 | $6,134 | $0 | $228,461 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION HAS ENTERED INTO TWO SPLIT DOLLAR LIFE INSURANCE AGREEMENTS, WHICH ARE COLLATERAL ASSIGNMENT ARRANGEMENTS BETWEEN THE CREDIT UNION AND AN EXECUTIVE. THESE AGREEMENTS INVOLVE A METHOD OF PAYING FOR LIFE INSURANCE COVERAGE FOR THE EXECUTIVE BY SPLITTING THE ELEMENTS OF A LIFE INSURANCE POLICY. UNDER THE AGREEMENTS, THE EXECUTIVE IS THE OWNER OF THE POLICIES AND MAKES A COLLATERAL ASSIGNMENT OF LIFE PROCEEDS TO THE CREDIT UNION. IN RETURN FOR LOANS EQUAL TO THE AMOUNT OF PREMIUMS PAID, THE EXECUTIVE AND THEIR ESTATE AGREE TO REPAY THE CREDIT UNION WITH LIFE INSURANCE PROCEEDS UPON DEATH. DURING 2015, THE PARTIES ENTERED INTO AN AGREEMENT INVOLVING A POLICY WITH A FACE VALUE OF APPROXIMATELY $3,800,000. PREMIUM PAYMENTS FOR THIS POLICY ARE PAID ANNUALLY THROUGH 2023. DURING 2019, THE PARTIES ENTERED INTO ANOTHER AGREEMENT INVOLVING A POLICY WITH A FACE VALUE OF APPROXIMATELY $3,100,000. THE CREDIT UNION ELECTED TO PREPAY THE PREMIUMS FOR THIS POLICY DURING 2019. THE TOTAL LOAN BALANCE UNDER THESE AGREEMENTS, WHICH IS INCLUDED IN PREPAID AND OTHER ASSETS ON THE STATEMENTS OF FINANCIAL CONDITION, WAS APPROXIMATELY $4,966,000 AND $972,000 AS OF DECEMBER 31, 2019 AND 2018, RESPECTIVELY. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | E MICHAEL GUDELY | PersonNm |
| Relationship With Org | CEO | RelationshipWithOrgTxt |
| Loan Purpose | TO FUND SPLIT DOLLAR LIFE INSURANCE POLICY | LoanPurposeTxt |
| Loan From Organization | Yes (X) | LoanFromOrganizationInd |
| Original Principal | $243,000 | OriginalPrincipalAmt |
| Balance Due | $4,965,678 | BalanceDueAmt |
| Default | 0 | DefaultInd |
| Board Or Committee Approval | Yes (1) | BoardOrCommitteeApprovalInd |
| Written Agreement | Yes (1) | WrittenAgreementInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $4,965,678 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION HAS MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE ANNUAL MEETING OF MEMBERS OF THE CREDIT UNION SHALL BE HELD DURING THE MONTH OF MARCH, FOR THE PURPOSE OF ELECTING DIRECTORS AND TRANSACTING ANY AND ALL BUSINESS THAT MAY PROPERLY COME BEFORE THE MEETING. ANY VACANCY ON THE BOARD OR SUPERVISORY COMMITTEE SHALL BE FILLED BY VOTE OF A MAJORITY OF THE DIRECTORS THEN HOLDING OFFICE, EVEN THOUGH LESS THAN A QUORUM. DIRECTORS SO APPOINTED SHALL HOLD OFFICE ONLY UNTIL THE NEXT ANNUAL MEETING, AT WHICH ANY UNEXPIRED TERMS SHALL BE FILLED BY VOTE OF THE MEMBERS, AND UNTIL THE QUALIFICATION OF THEIR SUCCESSORS. MEMBERS OF THE SUPERVISORY COMMITTEE SO APPOINTED SHALL HOLD OFFICE UNTIL THE FIRST REGULAR MEETING OF THE BOARD FOLLOWING THE NEXT AT WHICH THE REGULAR TERM EXPIRES AND UNTIL THE APPOINTMENT AND QUALIFICATION OF THEIR SUCCESSORS. |
| 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 DIRECTORS AND FIELD OF MEMBERSHIP. BYLAWS ADOPTED BY THE BOARD OF DIRECTORS MAY BE ALTERED, AMENDED OR REPEALED, AND NEW BYLAWS ADOPTED BY THE MEMBERS. THE MEMBERS MAY PRESCRIBE THAT ANY BYLAW OR BYLAWS ADOPTED BY THEM SHALL NOT BE ALTERED, AMENDED OR REPEALED, BY THE BOARD OF DIRECTORS. 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 RETURN IS PREPARED BY A THIRD PARTY CPA FIRM. THE RETURN IS REVIEWED BY THE FULL BOARD PRIOR TO FILING. ONCE THE REVIEW AND ANY NECSSARY CORRECTIONS ARE COMPLETED, THE RETURN IS FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ORGANIZATION MONITORS ADHERENCE TO THE CONFLICT OF INTEREST POLICY THROUGH EMPLOYEE DISCLOSURE AND MANAGEMENT OF EMPLOYEES. IN THE EVENT OF A POTENTIAL CONFLICT, THE INTERESTED PERSON SHALL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSIONS AND VOTE. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE PERSONNEL COMMITTEE OF THE CREDIT UNION ENGAGED AN INDEPENDENT THIRD-PARTY CONSULTANT TO CONDUCT AN ANALYSIS OF THE CEO'S COMPENSATION IN 2019 TO DETERMINE REASONABLENESS. THE COMPENSATION FOR ALL OTHER KEY EMPLOYEES IS REVIEWED BY A THIRD-PARTY CONSULTANT AT LEAST ANNUALLY TO DETERMINE REASONABLENESS. ALL DECISIONS AND COMPARABILITY DATA ARE DOCUMENTED IN MEETING MINUTES. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC ON THE NCUA'S WEBSITE VIA THE 5300 CALL REPORT FILING. |
| 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. |