2020-04-24T10:12:22-05:00 2019-12-31 362985770 SELDEN FOX LTD 619 ENTERPRISE DRIVE OAK BROOK IL 605238835 990 2019-01-01 362440414 SELECT EMPLOYEES CREDIT UNION SELE 8156268181 2412 FREEPORT RD STERLING IL 61081 SUSAN M BRANCH CHIEF EXECUTIVE OFFICER 8156268181 2020-04-22 1 PAUL J ROZEK P00542258 6309541400 50.201.115.83 2020-04-22 09:25:35 CD P 91872870442C308E71D4639639BA55902F3C806A 14B8E58CEC8B6DF51AE24E683AFBE7558BE1C771 2019 2020-09-23 17:36:50Z SUSAN M BRANCH 2412 FREEPORT RD STERLING IL 61081 2470203 0 X WWW.SELECTCU.COM X 1940 IL THE SELECT EMPLOYEES CREDIT UNION WILL MEET THE NEEDS OF MEMBERS BY PROVIDING FINANIAL PRODUCTS AND SERVICES DELIVERED WITH INTEGRITY, PERSONAL CARE AND INDIVIDUALIZED ATTENTION. 7 7 20 7 0 0 0 0 2042554 2470203 185347 -15352 0 0 2227901 2454851 0 0 0 0 736859 754155 0 0 0 1228054 1081826 1964913 1835981 262988 618870 43597024 45845335 40194387 41831879 3402637 4013456 THE SELECT EMPLOYEES CREDIT UNION WILL MEET THE NEEDS OF MEMBERS BY PROVIDING FINANCIAL PRODUCTS AND SERVICES DELIVERED WITH INTEGRITY, PERSONAL CARE AND INDIVIDUALIZED ATTENTION. 0 0 1835981 MADE SHARE OVERDRAFT PROTECTION LOANS, HOME EQUITY LOANS, SHARE SECURED LOANS, AND VISA LOANS TO MEMBERS. TOTAL LOANS AT THE END OF 2019 WERE $33,001,308. THIS NUMBER CONSISTED OF CONSUMER LOANS OF $17,747,521, REAL ESTATE LOANS OF $13,964,178, AND VISA LOANS OF $1,289,609. THE CREDIT UNION'S GOAL IS TO HAVE AN 80% LOANS TO ASSET RATIO AND AN 85% LOANS TO SHARES RATIO. AT THE END OF 2018 THE LOANS TO ASSETS RATIO WAS 71.98% AND LOANS TO SHARE WAS 79.30% ACCEPTED DEPOSITS AND ISSUED SHARE CERTIFICATES TO MEMBERS. TOTAL SHARE BALANCES AT THE END OF 2019 WERE $41,831,879. THIS NUMBER CONSISTED OF SHARE BALANCES OF $30,377,437, SHARE BALANCE DRAFT OF $9,483,317, AND INDIVIDUAL RETIREMENT ACCOUNT (IRA)/CERTIFICATE OF DEPOSIT BALANCES OF $1,971,125. 1835981 0 0 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 674 0 1 20 1 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 0 1 0 0 0 X SUSAN M BRANCH 8156268181 2412 FREEPORT RD STERLING IL 61081 MR RICHARD DOUGLAS CHAIRMAN 1.00 X X 0 0 0 MR KEVIN O'KEEFE SECRETARY 1.00 X X 0 0 0 MS KATHRYN BOYLE TREASURER 1.00 X X 0 0 0 MR ANDREW BEVEROTH MEMBER 1.00 X 0 0 0 MR JEFFEREY HIPPEN MEMBER 1.00 X 0 0 0 MS CINDY VONHOLTEN MEMBER 1.00 X 0 0 0 MR TIMOTHY MORGAN VICE CHAIRMAN 1.00 X X 0 0 0 MS SUSAN BRANCH CEO 40.00 X 76675 0 17993 76675 0 17993 0 0 0 0 BRADFORD SCOTT DATA CORPORATION 9465 COUNSELORS ROW SUITE 200 INDIANAPOLIS IN 46240 151118 BLUE CROSS BLUE SHIELD 300 E RANDOLPH ST CHICAGO IL 60601 103020 2 INTEREST INCOME ON LOA 522100 1866562 1866562 VISA AND FEE INCOME 522100 602625 602625 OTHER INCOME 522100 1016 1016 2470203 15352 -15352 -15352 -15352 2454851 2470203 0 -15352 94669 494083 24148 99412 41843 7214 23885 54697 52952 70108 197479 49738 33096 25770 62004 22970 PROVISION FOR LOAN LOSS 210864 DEBIT CARD EXPENSE 160958 VISA EXPENSE 61848 LOAN SERVICING 29474 18769 1835981 3257096 3961130 9157037 7869030 29841972 32546623 77730 120630 1918698 1173538 718663 745160 544526 602762 43597024 45845335 268550 215129 39925837 41616750 40194387 41831879 X 0 0 0 0 3402637 4013456 3402637 4013456 43597024 45845335 618870 -8051 0 X 0 0 0 750 750 1 CREDIT UNION POLITICAL ACTION COUNCIL 1807 WEST DIEHL ROAD PO BOX 3107 NAPERVILLE IL 605667107 363092340 750 0 PART I-A, LINE 1: SCHEDULE C, PART1A, LINE 1: THE ORGANIZATION'S ONLY POLITICAL ACTIVITY IS THE CONTRIBUTION TO THE CREDIT UNION POLITICAL ACTION COUNCIL THAT IS REPORTED IN PARTS 1A AND 1C OF THIS SCHEDULE. 240184 240184 766195 361115 405080 912319 812423 99896 745160 MEMBERS' SHARE AND SAVINGS ACCOUNT 41616750 41616750 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS COMPRISED OF MEMBERS, MOST OF WHO ARE EMPLOYEES OR RETIRED EMPLOYEES OF SEVERAL LOCAL EMPLOYEE GROUPS WITHIN THE STERLING - ROCK FALLS, ILLINOIS AREA. THE MEMBERS ELECT THE GOVERNING BODY (THE BOARD OF DIRECTORS). THE BOARD OF DIRECTORS IS CHARGED WITH AND HAVE CONTROL OVER THE GENERAL MANAGEMENT OF THE OPERATIONS, FUNDS, AND RECORDS OF THE CREDIT UNION PURSUANT TO PROVISIONS OUTLINED IN THE ILLINOIS CREDIT UNION ACT AND THE DEPARTMENT'S RULES AND REGULATIONS. THE MEMBERS MAY RECIEVE FROM TIME TO TIME A SHARE OF THE ORGANIZATION'S PROFITS OR EXCESS DUES OR A SHARE OF THE ORGANIZATION'S NET ASSETS UPON THE ORGANIZATION'S DISSOLUTION. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED DURING THE ANNUAL MEETING OF THE MEMBERS. THERE ARE SEVEN DIRECTORS. FIFTEEN MEMBERS MUST BE PRESENT AT THE TIME OF THE MEETING IN ORDER TO ELECT THE BOARD. EVERY MEMBER HAS THE RIGHT TO VOTE FOR AS MANY PERSONS AS THERE ARE DIRECTORS TO BE ELECTED, OR TO CUMULATE THEIR VOTES AND GIVE ONE CANIDATE AS MANY VOTES AS THE NUMBER OF DIRECTORS; OR DISTRIBUTE THEIR VOTES ON THE SAME PRINCIPLE AMONG AS MANY CANDIDATES AS HE/SHE DESIRES. A SOCIETY, ASSOCIATION, CLUB, OR PARTNERSHIP HAVING MEMBERSHIP IN THE CREDIT UNION SHALL BE ENTITLED TO CAST ONLY ONE VOTE REGARDLESS OF THE NUMBER OF SHARES OWNED. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S CEO REVIEWS THE FORM 990 THEN MAKES COPIES AVAILABLE TO ALL MEMBERS OF THE BOARD BEFORE SIGNING IT AND SUBMITTING IT TO THE INTERNAL REVENUE SERVICE (IRS). FORM 990, PART VI, SECTION B, LINE 12C TO IDENTIFY ANY POTENTIAL CONFLICTS OF INTEREST, EVERY INSIDER IS TO PROVIDE AN ANNUAL STATEMENT OUTLINING SPECIFIC RELATIONS AND SITUATIONS. ALSO, ALL NEW HIRES WILL COMPLETE PRIOR TO EMPLOYMENT AND ALL NEW VENDERS (IF DEEMED NECESSARY BY MANAGEMENT) PRIOR TO INITIAL PURCHASES OF CONTRACT. THE PRESIDENT WILL BE RESPONSIBLE FOR ALL DIRECTORS, COMMITTEE MEMBERS AND VENDORS. THE BOARD TREASURER WILL OBTAIN ALL EMPLOYEE STATEMENTS. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE PROVIDED UPON REQUEST