2019-08-21T08:42:30-05:00 2018-12-31 410746749 CLIFTONLARSONALLEN LLP 5001 SPRING VALLEY ROAD SUITE 600W DALLAS TX 75244 990 2018-01-01 750905956 COOPERATIVE TEACHERS CREDIT UNION COOP 9035612603 1424 WSW LOOP 323 TYLER TX 75701 TIM MILLER PRESIDENT PRESIDENT 9035612603 2019-08-13 1 MARY C GREEN P00447183 9723835700 67.137.57.251 2019-08-13 11:51:21 US P 74366397A7920D47D320981250E17347957E6194 0F8E070079B3822AD2CB83B8DB3E34CBC54CDB6E 2018 2019-02-21 02:37:17Z TIM MILLER 1424 WSW LOOP 323 TYLER TX 75701 11329087 0 X WWW.COOPTEACHERS.COM X 1953 TX ENCOURAGE THRIFT (SAVINGS) AND PROVIDES CREDIT (LOANS) TO ITS MEMBERS. 7 7 21 7 0 0 0 0 4430638 5373694 530197 462566 11596 71830 4972431 5908090 0 0 656982 657608 1168230 1430106 0 0 0 2230815 3270212 4056027 5357926 916404 550164 117354390 114532936 103581686 100388736 13772704 14144200 COOPERATIVE TEACHERS CREDIT UNION ENCOURAGES THRIFT (SAVINGS),PROVIDES CREDIT POSSIBILITES AT A FAIR AND REASONABLE RATE ANDADEQUATE SERVICES FOR THE MEMBERSHIP IN ORDER TO ENHANCE SOCIAL ANDPERSONAL GROWTH THROUGH SOUND MONEY MANAGEMENT. 0 0 COOPERATIVE TEACHERS CREDIT UNION'S SHARE ACCOUNTS OFFERADVANTAGES TO MEMBERS OF ALL AGES. MEMBER SAVINGS ACCOUNTS PAYDIVIDENDS QUARTERLY AND OFFER ACCESS THROUGH HOME BANKING VIA THEINTERNET OR TELEPHONE, MOBILE BANKING, AND ATM'S WORLDWIDE. SPECIALSAVINGS ACCOUNTS ARE DESIGNED FOR CHILDREN TO ENCOURAGE THE DEVELOPMENTOF CONSISTENT SAVING HABITS. COOPERATIVE TEACHERS CREDIT UNION PROVIDES CHECKINGACCOUNTS FOR MEMBERS WITH VARIOUS FEATURES, FROM FREE ACCOUNTS TO THOSETHAT OFFER DIVIDENDS THAT ARE PAID QUARTERLY. ADDITIONALLY, THE CREDITUNION EXTENDS THE REACH OF THESE ACCOUNTS BY OFFERING DEBIT CARDS,INTERNET ACCOUNT ACCESS, AND AN INTERNET BILL PAY PLATFORM. COOPERATIVE TEACHERS CREDIT UNION HAS PROVIDED VEHICLELOANS SINCE ITS EARLY YEARS. THE CONSUMER LOAN PRODUCT LINE NOWINCLUDES EFFICIENT UNDERWRITING AND FLEXIBLE OFFERING FOR RECREATIONALVEHICLES, BOATS, AND MOTORCYCLES. CREDIT LIFE AND DISABILITY INSURANCEIS AVAILABLE ON ANY OF THESE LOANS. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1425 0 1 21 1 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 0 0 0 0 1 1 1 1 1 1 0 0 X TIM MILLER 9035612603 1424 WSW LOOP 323 TYLER TX 75701 WAYNE BOSHEARS CHAIRMAN 1.00 X X 0 0 0 LYNNE STAINBACK VICE CHAIRMAN 1.00 X X 0 0 0 ZEB CANTLEY SECRETARY 1.00 X X 0 0 0 GARY HOWELL DIRECTOR 1.00 X 0 0 0 CYNTHIA JOHNSON DIRECTOR 1.00 X 0 0 0 ORA TAYLOR DIRECTOR 1.00 X 0 0 0 JAMES HAYDEN DIRECTOR 1.00 X 0 0 0 TIMOTHY MILLER PRESIDENT/CEO 40.00 X 165000 0 28325 165000 0 28325 1 0 1 0 FISERV 255 FISERV DRIVE BROOKFIELD WI 53045 SOFTWARE 413388 1 LOAN INTEREST 522291 4598663 4598663 FEES & CHARGES 522100 700350 700350 OTHER NON-INTEREST INCOME 524298 74681 74681 5373694 470393 470393 156075 84245 71830 71830 71830 5328925 5336752 -7827 -7827 -7827 5908090 5445524 0 462566 X 657608 193325 971350 56635 121158 87638 62702 577926 330538 278490 95761 77793 421629 132655 69991 LOAN SERVICING EXPENSE 940429 PROVISION FOR LOAN LOSS 242619 OTHER MISC EXPENSES 39679 5357926 599436 458670 4608142 1968423 85802367 88144513 113329 101368 3349824 858378 2507355 2491446 20883186 18246024 500000 500000 2340575 2622492 117354390 114532936 1371463 661780 234552 888764 101975671 98838192 103581686 100388736 X 0 0 0 0 13772704 14144200 13772704 14144200 117354390 114532936 X 550164 -178670 2 X 0 1 X 0 0 0 1 1078051 1078051 1793155 582366 1210789 475118 276012 199106 3500 3500 2491446 FHLB ADVANCES 26290000 SHARES & DEPOSITS 72548192 98838192 X 5915917 0 5915917 -7827 -7827 5908090 5365753 7827 7827 5357926 0 5357926 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER IRC 501 (C) (14), FROM FEDERAL AND STATE INCOME TAXES. CERTAIN PRODUCTS AND SERVICES PROVIDED BY SELECT STATE CHARTERED CREDIT UNIONS HAVE BEEN DEEMED BY THE INTERNAL REVENUE SERVICE (IRS), IN TECHNICAL ADVICE MEMORANDUMS (TAMS) RELEASED IN 2007, TO BE UNRELATED TO THE SPECIFIC ENTITY'S EXEMPT PURPOSE. AS PRESENTED IN THE TECHNICAL ADVICE MEMORANDUMS, THE NET TAXABLE INCOME FROM THESE PRODUCTS AND SERVICES WOULD BE SUBJECT TO INCOME TAXES. CREDIT UNIONS HAVE LITIGATED AGAINST THE IRS POSITIONS NOTED IN THE TAMS AND HAVE BEEN SUCCESSFUL IN HAVING COURTS DECLARE IN 2009 AND 2010 THAT REVENUE FROM INSURANCE PRODUCTS SOLD TO MEMBERS, HELPING THEM PROTECT THEIR FINANCIAL WELLBEING, QUALIFIES AS EXEMPT PURPOSE INCOME, CONTRARY TO THE IRS POSITION IN THE TAMS. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE AND HAS A MINIMAL NET OPERATING LOSS CARRYFORWARD AS OF THE 2018 CALENDAR YEAR. 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 MATERIAL 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 DECEMBER 31, 2018. THE CREDIT UNION'S 2015 THROUGH 2017 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON SALE OF SECURITIES PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON SALE OF SECURITIES SCHEDULE D, PART IV, LINE 2B ESCROW ACCOUNTS FOR MEMBER HOME LOANS. PROPERTY TAXES AND INSURANCE ARE HELD IN ESCROW. X X X 0 0 0 TIMOTHY MILLER PRESIDENT/CEO 120000 0 45000 0 0 0 16500 0 11825 0 193325 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 MEMBER OWNED FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT BOARD OF DIRECTORS FORM 990, PART VI, SECTION A, LINE 8B THE BOARD OF DIRECTORS ARE THE GOVERNING BODY. THERE ARE 7 VOTING MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE REVIEWED BY THE BOARD OF DIRECTORS DURING THEIR REGULAR MONTHLY MEETING. FORM 990, PART VI, SECTION B, LINE 12C AN ANNUAL CONFLICT OF INTEREST STATEMENT IS REQUIRED. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT/CEO SALARY IS BASED ON VARIOUS SALARY SERVEYS. THIS WAS LAST PERFORMED IN 2018. FORM 990, PART VI, SECTION C, LINE 18 DOCUMENTS ARE AVAILABLE TO MEMBERS FOR REVIEW IN OUR OFFICE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION IS IN COMPLIANCE WITH ALL APPLICABLE RULES AND REGULATIONS REGARDING PROVIDING INFORMATION TO THE PUBLIC. FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY, IN A NEWSLETTER, AND ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G FISERV 411,657. OTHER PROFESSIONAL SERVICES 166,269. FORM 990, PART XI, LINE 9: ROUNDING 2. COOPERATIVE TEACHERS CREDIT UNION FOUNDATION 1424 WSW LOOP 323 TYLER TX 75701 824173338 TO PROVIDE SCHOLARSHIPS AND RECOGNITION TO TEACHERS TX 501(C)(3) PF COOPERATIVE TEACHERS CREDIT UNION 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 COOPERATIVE TEACHERS CREDIT UNION FOUNDATION B 99500 FMV