2020-11-10T12:55:06-06:00 2019-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2019-01-01 520284053 MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC MUNI 4107528313 ONE SOUTH STREET BALTIMORE MD 21202 ADRIAN JOHNSON SVP/CFO 4107528313 2020-11-10 DOUGLAS J ORTH P01076394 104.11.88.150 2020-11-10 11:47:32 ES P A7DB26C3BB201601930FCFA0C4651552B54C26A2 B2EFC313AB4EEA4760135470907D022D8B217834 2019 2021-04-22 16:20:28Z MECU OF BALTIMORE INC JOHN HAMILTON ONE SOUTH STREET BALTIMORE MD 21202 115206013 0 X WWW.MECU.COM X 1936 MD MECU IS A CREDIT UNION WHICH PROVIDES A FULL ARRAY OF FINANCIAL SERVICES TO ITS MEMBER OWNERS . 10 10 352 0 450956 0 0 0 59835488 60913846 7563176 11160776 0 0 67398664 72074622 287849 433225 6947203 0 24791342 26764557 0 0 0 31222397 41280425 63248791 68478207 4149873 3596415 1180671010 1197660345 1057011974 1057973594 123659036 139686751 X OUR MISSION IS TO EMPOWER OUR MEMBERS TO IMPROVE THEIR FINANICAL WELL-BEING AND LIVE BETTER. 0 1 MECU PROVIDES CONSUMER AND BUSINESS LOANS TO MEMBERS AT COMPETITIVE RATES. THESE LOANS INCLUDE: MORTGAGE, HOME EQUITY, VEHICLE, CREDIT CARD, AND UNSECURED LOANS. IN 2019, MECU PAID A BONUS REWARD TO ITS MEMBERS. MECU PROVIDES DEPOSIT PRODUCTS AND SERVICES TO CONSUMER AND BUSINESS MEMBERS. THESE DEPOSIT PRODUCTS INCLUDE SAVINGS, CHECKING, MONEY MARKET, CERTIFICATES OF DEPOSIT, AND INDIVIDUAL RETIREMENT ACCOUNTS. AS OF DECEMBER 31, 2019, MECU HAD 203,572 DEPOSIT ACCOUNTS OUTSTANDING. MECU'S DEPOSIT RATES CONTINUE TO BE SOME OF THE MOST COMPETITIVE RATES OFFERED BY FEDERALLY INSURED FINANCIAL INSTITUTIONS. MECU ALSO PAID A BONUS REWARD DIVIDEND TO ITS MEMBERS IN 2019. MECU STRIVES TO OFFER PRODUCTS AND SERVICES DESIGNED TO IMPROVE THE ECONOMIC AND SOCIAL WELL BEING OF ALL MEMBERS FROM ALL SOCIO-ECONOMIC BACGROUNDS. MECU IS COMMITTED TO MEMBER FINANCIAL EDUCATION. SOME OF THE PROGRAMS THAT MECU PROVIDES INCLUDE DISCOUNTED MORTGAGE RATES THROUGH FIRST-TIME HOMEBUYER'S PROGRAMS AND BUY IN BALTIMORE LOANS, HOME BUYER'S WORKSHOPS, CREDIT REPAIR WORKSHPS, BASICS OF MONEY MANAGEMENT, NEW EMPLOYEE AND PRE-RETIREMENT WORKSHOPS, AND FREE CREDIT COUNSELING SERVICES. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 1 1 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 0 0 1 115 0 1 352 1 1 1 0 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X JEAN TYLER 4107528313 ONE SOUTH STREET BALTIMORE MD 21202 HERMAN WILLIAMS CHAIRPERSON 2.00 X X 19100 0 0 ROMAN CLARK VICE CHAIR PERSON 2.00 X X 24500 0 0 BENJAMIN MELI BOARD MEMBER 2.00 X 19500 0 0 ERNEST GLINKA BOARD MEMBER 2.00 X 11400 0 0 HARRY DEITCHMAN BOARD MEMBER 1.00 X 8400 0 0 G LOUISE GREEN TREASURER 2.00 X X 24500 0 0 GARY MCLHINNEY SECRETARY 2.00 X X 22400 0 0 DEBORAH MOORE-CARTER BOARD MEMBER 2.00 X 15600 0 0 PEGGY PEACOCK BOARD MEMBER 2.00 X 10200 0 0 LORRETTA JOHNSON BOARD MEMBER 1.00 X 7800 0 0 KARA KING-BASS BOARD MEMBER 2.00 X 10000 0 0 KALIOPE PARTHEMOS BOARD MEMBER 2.00 X 13400 0 0 ADRIAN JOHNSON SENIOR VP AND CFO 45.00 X 209419 0 46518 JOHN HAMILTON PRESIDENT AND CEO 50.00 X 459067 0 76995 RICHARD SMITH VP LENDING 45.00 X 186431 0 35589 KATHY SHELTON SENIOR VP PRESIDENT AND COO 45.00 X 193939 0 65285 MICHELLE WILLIAMS VP HUMAN RESOURCES 45.00 X 148209 0 60258 MARY TAYLOR VP CHIEF COMMERCIAL LENDING OFFICER 45.00 X 190398 0 24702 NATALIE WOOMER VP OF ACCOUNTING AND CONTROLER (FORMER) 45.00 X 350829 0 32071 CHRISTOPHER LUMLEY VP OF INFORMATION SERVICES 45.00 X 162276 0 60048 THOMAS POE VP OF MARKETING 45.00 X 162427 0 20639 2249795 0 422105 30 0 1 0 PSCU 560 CARRILLON PKWY ST PETERSBURG FL 33716 CARD PROCESSOR 3204078 FIS PO BOX 4535 CAROL STREAM IL 601974535 CHEXSYSTEM, IN-HOUSE TELEPHONE BANKING P 2159756 ROCK CREEK PUBLISHING GROUP INC 1800 MASSACHUSETTS AVE NW WASHINGTON DC 20036 ADVERTISING 1450002 ONE SOUTH STREET LLC 1 SOUTH STREET SUITE 820 BALTIMORE MD 212023201 HEADQUARTERS RENT 1221156 CONSTANTINE COMMERCIAL CONSTRUCTION INC 9494 DEERECO ROAD TIMONIUM MD 21093 NEW BRANCH CONSTRUCTION AND CURRENT BRAN 786315 49 INTEREST ON LOANS TO MEMBERS 522100 38733962 38733962 SERVICE CHARGES AND OTHER FEES 522100 17652326 17652326 OTHER NONINTEREST INCOME 522100 4076602 4076602 INSURANCE/WARRANTY PRODUCT SALES 900099 241862 241862 NON-MEMBER ATM FEE INCOME 524298 130341 130341 78753 78753 60913846 8488811 8488811 42852507 2950849 42588756 542635 263751 2408214 2671965 2671965 72074622 71623666 450956 0 X 433225 1460043 18073176 2510668 3225406 1495264 334703 383852 679776 2679944 2110073 2739039 2464089 565687 9361659 2721200 261754 PROVISION FOR LOAN LOSS 6093824 ATM/DEBIT CARD EXPENSE 5103717 LOAN SERVICING 2873017 OTHER EXPENSES 937243 1970848 68478207 7171033 15936136 61111669 117617156 9149933 14297865 731105793 729567533 1198177 8349895 23586867 11566422 11071741 12020445 299496807 245924064 99117 66078 60266740 53881173 1180671010 1197660345 33993242 16748155 158469 145321 16904762 12285716 1005955501 1028794402 1057011974 1057973594 X 0 0 0 0 123659036 139686751 123659036 139686751 1180671010 1197660345 X 3596415 4681267 7750033 X X 0 1 X 1 0 0 1 X 311898 311898 2677571 817637 1859934 6882341 2468094 4414247 13715057 8280691 5434366 12020445 SECURITIES 241463064 C CERTIFICATES OF DEPOSIT 4461000 C 245924064 MEMBER SHARES AND SAVINGS 1028794402 1028794402 X 72074622 0 72074622 0 72074622 68478207 0 68478207 0 68478207 PART IV, LINE 2B: THE CREDIT UNION HOLDS ESCROWED FUNDS FOR THE PAYMENT OF PROPERTY TAXES AND HOMEOWNERS' INSURANCE. THE CREDIT UNION THEN REMITS THESE FUNDS TO THE APPLICABLE THIRD PARTIES ON BEHALF OF THE BORROWERS AS A SERVICE TO OUR MEMBERS WHO HAVE MORTGAGES WITH THE CREDIT UNION OR HAVE MORTGAGES SERVICED BY THE CREDIT UNION. 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 FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (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. 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 (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). 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 OF DISCLOSURE IN THE FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2018, 2017, AND 2016 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. 1 CYSTIC FIBROSIS FOUNDATION 10626 YORK ROAD STE A COCKEYSVILLE MD 21030 131930701 501(C)(3) 10000 CHARITABLE CONTRIBUTION BALTIMORE CITY FOUNDATIONYOUTH WORKS 6131 HILLEN ROAD BALTIMORE MD 21239 521371304 501(C)(3) 11258 CHARITABLE CONTRIBUTION ABC 2019 GALA TABLE 2 SPONSORSHIP 1114 CATHEDRAL ST BALTIMORE MD 21201 521427774 501(C)(3) 6000 SPONSORSHIP AACUC CORP CONTRIBUTION PO BOX 392136 SNELLVILLE MD 30039 571091138 501(C)(3) 25450 CHARITABLE CONTRIBUTION CU FOUNDATION ANNUAL SUPPORT PO BOX 190 GLENELG MD 21737 521749045 501(C)(3) 25000 CHARITABLE CONTRIBUTION ARTS EVERY DAY 20192020 120 W NORTH AVE SUITE 303 BALTIMORE MD 21201 900091850 501(C)(3) 62500 CHARITABLE CONTRIBUTION LIBERTY VOLUNTEER FIRE DONATION RANDELLSTOWN 10010 LIBERTY ROAD RANDALLSTOWN MD 21133 520783087 501(C)(3) 5420 CHARITABLE CONTRIBUTION 7 0 PART I, LINE 2: MECU HAS A COMMITTEE THAT MEETS AND DETERMINES WHAT CHARITABLE CONTRIBUTIONS WILL BE MADE. THE COMMITTEE SELECTS 501(C)(3), PUBLIC CHARITIES, THAT BENEFIT THE CREDIT UNION MOVEMENT AND THE BALTIMORE COMMUNITY. 1 X X X X X 1 1 0 ADRIAN JOHNSON SENIOR VP AND CFO 209419 0 0 0 0 0 12662 0 33856 0 255937 0 0 0 JOHN HAMILTON PRESIDENT AND CEO 459067 0 0 0 0 0 36956 0 40039 0 536062 0 0 0 RICHARD SMITH VP LENDING 186431 0 0 0 0 0 3737 0 31852 0 222020 0 0 0 KATHY SHELTON SENIOR VP PRESIDENT AND COO 193939 0 0 0 0 0 21146 0 44139 0 259224 0 0 0 MICHELLE WILLIAMS VP HUMAN RESOURCES 148209 0 0 0 0 0 19902 0 40356 0 208467 0 0 0 MARY TAYLOR VP CHIEF COMMERCIAL LENDING OFFICER 180398 0 10000 0 0 0 2282 0 22420 0 215100 0 0 0 NATALIE WOOMER VP OF ACCOUNTING AND CONTROLER (FORM 84130 0 0 0 266699 0 4182 0 27889 0 382900 0 0 0 CHRISTOPHER LUMLEY VP OF INFORMATION SERVICES 162276 0 0 0 0 0 26344 0 33704 0 222324 0 0 0 THOMAS POE VP OF MARKETING 142427 0 20000 0 0 0 0 0 20639 0 183066 0 0 0 PART I, LINES 4A-B SCH J, PART I, LINE 4A: THE CREDIT UNION ENTERED INTO A DIRECTOR SEVERANCE PLAN WITH MEMBERS OF THE BOARD OF DIRECTORS THAT PROVIDES SEVERANCE PAYMENTS TO DIRECTORS UPON THEIR DEPARTURE FROM THE BOARD. THE ESTIMATED LIABILITY UNDER THESE AGREEMENTS IS BEING ACCRUED ON A STRAIGHT-LINE BASIS. ONE PARTICIPANT, KALIOPE PARTHEMOS, RECEIVED A DISBURSEMENT OF $8,000 FROM THE PLAN DURING THE 2019. SCH J, PART I, LINE 4B: THE BELOW-LISTED INDIVIDUALS PARTICIPATED IN A NON-QUALIFIED RETIREMENT PLAN. MICHELLE WILLIAMS KATHY DAY SHELTON ADRIAN JOHNSON NATALIE WOOMER* JOHN HAMILTON CHRISTOPHER LUMLEY *NATALIE WOOMER RECEIVED A DISBURSEMENT OF $266,699 DURING 2019. FORM 990, PART III, LINE 3 DISCOUNTINUED SHARED BRANCH ACQUIRER TRANSACTION IN APRIL 2019. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY. 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. THEY MUST APPROVE AMENDMENTS TO CHANGE THE ARTICLES OF INCORPORATION. THE MEMBERSHIP MUST ALSO APPROVE CHANGES TO THE BYLAWS THAT IMPACT MEMBERSHIP MEETINGS, VOTING RIGHTS OF THE MEMBERS, ANY CHANGE IN THE FIELD OF MEMBERSHIP AND ANY CHANGE TO THE BYLAWS REGARDING THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE VP OF ACCOUNTING/CONTROLLER PERFORMS A DETAILED REVIEW OF THE TAX RETURN. THE CFO AND BOARD THEN REVIEW THE TAX RETURN PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C BOARD DIRECTORS, MECU EMPLOYEES AND SUPERVISORY AND CREDIT COMMITTEE MEMBERS ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE ANNUALLY. THE RESPONSES ARE REVIEWED BY MECU'S HUMAN RESOURCES DEPARTMENT TO VERIFY THAT EVERYONE IS IN COMPLIANCE WITH MECU'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 FOR THE CEO, A DESIGNATED COMMITTEE AND THE BOARD REVIEW DATA FROM INDUSTRY RELATED SURVEYS. OTHER ANALYSIS MAY BE PREPARED BY AN EXTERNAL CONSULTANT AS NEEDED. THIS DATA IS USED TO REVIEW COMPENSATION ALONG WITH CEO PERFORMANCE TO DETERMINE SALARY. FOR VP LEVEL EMPLOYEES AND ABOVE, A DESIGNATED COMMITTEE AND THE BOARD REVIEW DATA FROM INDUSTRY RELATED SURVEYS. OTHER ANALYSIS AS NEEDED MAY BE PREPARED BY AN EXTERNAL CONSULTANT AND IS ALSO REVIEWED. WITH DIRECTION FROM THE BOARD, THE CEO WORKING WITH THE HR DEPARTMENT, MAKES DECISIONS ON EXECUTIVE LEVEL COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART IX, LINE 11G CONSULTING FEES 644,616. OTHER PROFESSIONAL SERVICES 35,160. FORM 990, PART IX, LINE 24E MEMBER STATEMENT EXPENSE 781,959. MAINTENANCE 667,591. FRAUD LOSSES 521,298. FORM 990, PART XI, LINE 9: RECLASSIFICATION ADJUSTMENT FOR NET INVESTMENT GAINS/LOSSES AFS -263,751. DEFINED BENEFIT PENSION PLAN NET PENSION GAINS/LOSSES 6,270,747. DEFINED BENEFIT PENSION PLAN AMORITZATION OF PRIOR SERVICE COSTS 1,743,037. 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.