2020-11-16T14:34:16-06:00 2019-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2019-01-01 741109927 COMMUNITY RESOURCE CREDIT UNION COMM 2814223611 3110 ROLLINGCREEK DR BAYTOWN TX 77521 DEENA SMITH SVP/CFO 2814223611 2020-11-13 1 TANYA MEDGAARDEN P01717240 5074347000 2020-11-13 47.225.217.98 2020-11-13 14:39:42 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 286A05B898B9590187CDBD1B3DC681A3A1896CD2 2019 2022-01-07 14:23:13Z X DAVID FRAZIER 3110 ROLLINGCREEK DR BAYTOWN TX 77521 40443807 0 2742 X WWW.CRCU.COM X 1935 TX TO HELP OUR MEMBERS ACHIEVE FINANCIAL WELL-BEING, THROUGH A LIFETIME PARTNERSHIP PROVIDING EXCEPTIONAL SERVICE & QUALITY PRODUCTS. 9 9 232 13 129738 60288 0 0 35906349 38977029 1435537 1157489 0 185688 37341886 40320206 0 0 2361630 3516313 11967390 13449353 0 0 0 17380565 17643561 31709585 34609227 5632301 5710979 520367685 564704064 476255463 515768539 44112222 48935525 TO HELP OUR MEMBERS ACHIEVE FINANCIAL WELL-BEING, THROUGH A LIFETIME PARTNERSHIP PROVIDING EXCEPTIONAL SERVICE & QUALITY PRODUCTS. 0 0 SHARE ACCOUNTS - COMMUNITY RESOURCE CREDIT UNION'S SHARE ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. THE CREDIT UNION HAD 49,540 MEMBER-OWNED ACCOUNTS ON DECEMBER 31, 2019. MEMBER SAVING ACCOUNTS PAY DIVIDENDS MONTHLY AND OFFER ACCESS THROUGH THE BRANCH NETWORK, HOME BANKING VIA THE INTERNET OR TELEPHONE AND ATMS WORLDWIDE. CHECKING ACCOUNTS - COMMUNITY RESOURCE CREDIT UNION PROVIDES CHECKING ACCOUNTS FOR MEMBERS WITH VARIOUS FEATURES; FROM FREE ACCOUNTS TO THOSE WITH ENHANCED BENEFITS. DIVIDENDS ARE PAID MONTHLY. ADDITIONALY, THE CREDIT UNION EXTENDS THE REACH OF THESE ACCOUNTS TO ALL MEMBERS WITH FREE DEBIT CARD AND INTERNET ACCOUNT ACCESS. MEMBER LOANS - COMMUNITY RESOURCE CREDIT UNION PROVIDES VEHICLE LOANS AND MORTGAGES. WE ALSO OFFER EXCEPTIONAL INTEREST RATES ON LOANS FOR RECREATIONAL VEHICLES, BOATS, AND MOTORCYCLES. CREDIT LIFE AND DISABILITY INSURANCE IS AVAILABLE ON ANY OF THESE LOAN TYPES. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 16385 0 1 232 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 0 0 X DEENA SMITH 2814223611 3110 ROLLINGCREEK DR BAYTOWN TX 77521 DAVID FRAZIER PRESIDENT/CEO 40.00 X 466125 0 48596 RUSSELL BALLARD EXECUTIVE VP 40.00 X 276426 0 79749 TRAVIS SMITH VP FINANCIAL ADVISOR 40.00 X 218980 0 46259 DEENA SMITH CFO/SVP 40.00 X 202652 0 19038 TAMMY LOCKETTE COO/SVP 40.00 X 160172 0 25390 BRENDA WEINBERGER CIO/SVP 40.00 X 159966 0 16344 MATTHEW GLASSCO SR. SYSTEMS ENGINEER 40.00 X 139272 0 33794 AARON RATHBONE VP OF BUSINESS LENDING 40.00 X 133602 0 20122 CHARLES HAST CLO/SVP 40.00 X 144775 0 6047 PATRICK DAVIS SR. SYSTEMS ANALYST 40.00 X 116342 0 25837 RANDALL SANDERS CHAIRPERSON 1.00 X X 0 0 0 JONNA CAGLE-PAGE VICE CHAIRMAN 1.00 X X 0 0 0 WILLIAM VOLA BOARD TREASURER 1.00 X X 0 0 0 ROY BAREFIELD BOARD SECRETARY 1.00 X X 0 0 0 DICK DAWSON BOD MEMBER 1.00 X 0 0 0 TRUDY MASTERS BOD MEMBER 1.00 X 0 0 0 DAVID MOHLAM BOD MEMBER 1.00 X 0 0 0 CONNIE A TILTON BOD MEMBER 1.00 X 0 0 0 WALLY WHITLEY BOD MEMBER 1.00 X 0 0 0 2018312 0 321176 10 0 1 0 NEWGROUND RESOURCES INC PO BOX 6228 CAROL STREAM IL 60197 BUILDING CONSTRUCTION 6648021 BROADLEAF IT LLC 13100 WORTHAM CENTER DRIVE STE 150 HOUSTON TX 77065 IT SERVICES 1174627 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 MOBILE/HOME BANKING 1065526 WORLDPAY LLC 8500 GOVERNORS HILL DR SYMMES TWP OH 45249 DEBIT & CREDIT CARD PROCESSOR 828313 MCPC INC PO BOX 643283 PITTSBURGH PA 152643283 SOFTWARE, LICENSING & MAINT. 210357 31 INTEREST ON LOANS 522100 23282416 23282416 OTHER INCOME 522100 9196374 9134136 62238 FEE INCOME 522100 6498239 6430739 67500 38977029 1144590 1144590 136500 123601 12899 12899 12899 MISCELLANEOUS INCOME 900099 185688 185688 185688 40320206 39032979 129738 1157489 3516313 1454458 9113815 1095222 1114515 671343 201125 116389 1432152 1341872 1515765 1453560 36045 265341 272358 1445736 175689 PROVISION FOR LOAN & LE 2182875 DEBIT CARD PROCESSING 1761606 LOAN SERVICING EXPENSE 1372388 HOME/MOBILE BANKING 958312 3112348 34609227 4374538 4567074 19201879 34806454 743277 727373 2091821 2703821 439501753 461736923 4705101 3174660 55487105 18269980 29626088 37217125 8067105 6663464 1848500 2099800 10207623 11007370 520367685 564704064 5082490 5263738 10000000 461172973 510504801 476255463 515768539 X 0 0 0 0 44112222 48935525 44112222 48935525 520367685 564704064 X 5710979 137112 -1024788 X X 0 1 X 1 0 4831075 4831075 34522814 6578481 27944333 16133216 11691499 4441717 37217125 REGULAR SHARES 311310436 MONEY MARKET SHARES 33034232 SHARE DRAFT 51132423 IRA SHARES 24810316 CERTIFICATES OF DEPOSIT 89969394 NONMEMBER DEPOSITS 248000 510504801 X PART X, LINE 2: AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF MARCH 31. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR THE 990. PER FOODTNOTE 1 IN THE CREDIT UNION'S MARCH 31, 2020 AND 2019 AUDITED FINANCIAL STATEMENTS, THE CREDIT UNION IS EXEMPT, UNDER IRC 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERAIL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF MARCH 31, 2020 AND 2019. THE CREDIT UNION'S 2016 THROUGH 2019 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. THE CUSO, AS A LIMITED LIABILITY COMPANY, HAS ELECTED TO BE TAXED AS A PASS-THROUGH ENTITY. THE PROFIT AND LOSS OF THE CUSO IS REFLECTED IN THE TAX RETURN OF ITS OWNER, THE CREDIT UNION. X 1 1 X X X 0 0 0 DAVID FRAZIER PRESIDENT/CEO 464193 0 0 0 1932 0 42197 0 6399 0 514721 0 0 0 RUSSELL BALLARD EXECUTIVE VP 253995 0 17485 0 4946 0 73350 0 6399 0 356175 0 0 0 TRAVIS SMITH VP FINANCIAL ADVISOR 218290 0 0 0 690 0 36285 0 9974 0 265239 0 0 0 DEENA SMITH CFO/SVP 202053 0 0 0 599 0 18810 0 228 0 221690 0 0 0 TAMMY LOCKETTE COO/SVP 146731 0 12727 0 714 0 19356 0 6034 0 185562 0 0 0 BRENDA WEINBERGER CIO/SVP 154190 0 5028 0 748 0 16116 0 228 0 176310 0 0 0 MATTHEW GLASSCO SR. SYSTEMS ENGINEER 128534 0 9746 0 992 0 21783 0 12011 0 173066 0 0 0 AARON RATHBONE VP OF BUSINESS LENDING 132096 0 1139 0 367 0 12167 0 7955 0 153724 0 0 0 CHARLES HAST CLO/SVP 144210 0 0 0 565 0 2492 0 3555 0 150822 0 0 0 PART I, LINE 1A DAVID FRAZIER (ALTA FRAZIER) - TRAVEL FOR COMPANIONS - $1,014 - INCLUDED IN TAXABLE COMPENSATION RANDALL SANDERS (NANCY SANDERS) - TRAVEL FOR COMPANIONS - $1,320 - INCLUDED IN TAXABLE COMPENSATION TRUDY MASTERS - TRAVEL FOR COMPANIONS - $664 - INCLUDED IN TAXABLE COMPENSATION DAVID FRAZIER PRESIDENT/CEO TO FUND DEFERRED COMPENSATION PLAN X 6000000 1253864 0 1 1 RUSSELL BALLARD EXECUTIVE VP TO FUND DEFERRED COMPENSATION PLAN X 4000000 949957 0 1 1 DEENA SMITH SVP/CHIEF FINANCIAL OFFICER TO FUND DEFERRED COMPENSATION PLAN X 5000000 500000 0 1 1 2703821 FORM 990, PART VI, SECTION A, LINE 6 COMMUNITY RESOURCE CREDIT UNION IS A STATE CHARTERED CREDIT UNION WITH MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS THE GOVERNING BODY AND IS ELECTED ANNUALLY BY THE COMMUNITY RESOURCE CREDIT UNION MEMBERS. 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 THE FORM 990 IS REVIWED BY THE CEO AND THE CFO, WHO IS A CERTIFIED PUBLIC ACCOUNTANT. A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C WHEN EMPLOYEES ARE HIRED, THEY MUST ACKNOWLEDGE THEY HAVE READ EMPLOYEE POLICIES. THEY MUST SIGN AGAIN IF ANY CHANGES ARE MADE TO THE POLICIES. COMMUNITY RESOURCE CREDIT UNION OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE DIRECTED TO DISCLOSE TO THEIR DEPARTMENT HEAD AND THE HUMAN RESOURCES DEPARTMENT IF ANOTHER INTEREST COULD GIVE RISE TO CONFLICTS IN REGARDS TO OUR CONFLICT OF INTERST POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE CEO'S SALARY IS APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. WE USE COMPEASE (CRCU'S SALARY ADMINISTRATION SYSTEM), NAFCU BFB SURVEY, AND CONSULTATION FROM BUSINESS COMPENSATION CONSULTANTS FOR DATA COMPARABILITY WHEN DETERMINING THE CEO'S COMPENSATION. DOCUMENTATION IS MAINTAINED IN INDIVIDUAL BOARD MEMBER ASSESSMENTS, ASSESSMENT SUMMARY, AND EMPLOYEE STATUS CHANGE FORM. COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES ARE REVIEWED AND DETERMINED BY THE DIRECTOR OF HR AND HIRING MANAGER, AND WHEN DEEMED APPROPRIATE THE CEO. WE USE A COMPENSATION MANAGEMENT SYSTEM TO SUPPORT SALARY DETERMINATIONS. DOCUMENTATION IS MAINTAINED WITHIN THE EMPLOYEE FILE. FORM 990, PART VI, SECTION C, LINE 19 OUR CONFLICT OF INTEREST POLICY IS CONTAINED IN THE EMPLOYEE HANDBOOK. THE CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE AVAILABLE IN THE CALL REPORT ON THE NCUA WEBSITE. FORM 990, PART XI, LINE 9: OTHER COMPREHENSIVE INCOME -1,024,791. ROUNDING 3. FORM 990 PART XII LINE 2C THE PROCESS HAS NOT CHANGED. CRCU INSURANCE COMPANY 3110 ROLLINGCREEK DRIVE BAYTOWN TX 77521 811808537 INSURANCE SERVICES TX 62238 94278 COMMUNITY RESOURCE CREDIT UNION