2025-11-17T13:49:33+00:00 2024-12-31 440160260 Forvis Mazars LLP 820 Massachusetts Ave Suite 1370 Indianapolis IN 46204 990 2024-01-01 310568628 General Electric Credit Union GENE 5132434328 11311 Cornell Park Drive 124 Cincinnati OH 45242 Dan Vonderhaar CFO 2025-11-17 true Michael Summers P00838533 3173834000 2025-11-15 2024 2025-03-06 01:10:19Z Dan Vonderhaar 11311 Cornell Park Drive Suite 24 Cincinnati OH 45242 524603449 false X X 1954 OH PROVIDE FINANCIAL SERVICES TO CREDIT UNION MEMBERS. 9 8 619 9 179653 0 218130826 223735294 20013319 27692655 0 238144145 251427949 281300 230000 0 44707937 44487031 0 0 201617084 226176533 246606321 270893564 -8462176 -19465615 5102489836 4428702240 4795822906 4133103718 306666930 295598522 OFFER A VARIETY OF QUALITY PRODUCTS AND FINANCIAL SERVICES DESIGNED TO BENEFIT ALL MEMBERS UNDER A STRONG FINANCIAL STRUCTURE THAT ENSURES THE CONTINUED VIABILITY OF THE CREDIT UNION. false false PROVIDE 291,685 MEMBERS A VARIETY OF LOAN AND DEPOSIT SERVICES AT COMPETITIVE INTEREST RATES AND TERMS. ORIGINATED LOANS IN EXCESS OF $732 MILLION IN VARIOUS LOANS CATEGORIES INCLUDING RESIDENTIAL, COMMERCIAL, CONSUMER, INDIRECT AUTO, MARINE, AND RV LOANS. CONTINUED ADDITIONS TO TECHNOLOGY DESIGNED TO MAXIMIZE ACCESS TO VARIOUS ONLINE PORTALS THAT CONTAIN A VARIETY OF PRODUCTS AND SERVICES TO ITS MEMBERS. 0 false false false false false false false false false false true true false false true false false true false false false false false false false false false true true true false false false false false false false false false false false false false false false true false false false false true 191717 0 true 619 true true true false false false false false true false X 9 8 false false false false true true true true true false true true false true true true true true true true false false X GENERAL ELECTRIC CREDIT UNION 5132434328 11311 Cornell Park Drive Suite 124 Cincinnati OH 45242 MARY CAY VESSELLS CHAIRPERSON 1.0 X X 0 0 0 MICHAEL JOHNSON 1ST VICE CHAIRPERSON 1.0 X X 0 0 0 RICHARD ILLE SECRETARY/TREASURER 1.0 X X 0 0 0 TIMOTHY D BALLINGER PRESIDENT/CEO 40.0 X X 871288 0 57936 CHERYL HILL 2ND VICE CHAIRPERSON 1.0 X 0 0 0 GAYLE NYSWONGER DIRECTOR 1.0 X 0 0 0 JERRY CABE DIRECTOR 1.0 X 0 0 0 PERRY ENGSTROM DIRECTOR 1.0 X 0 0 0 ROBERT PEAK DIRECTOR 1.0 X 0 0 0 ASHLEY CUNNINGHAM CHIEF DEVELOPMENT OFFICER 40.0 X 215844 0 35251 DANIEL J VONDERHAAR CHIEF FINANCIAL OFFICER 40.0 X 238089 0 42422 JEFFREY LENZER CHIEF RISK OFFICER 40.0 X 213620 0 28836 JILL LINGO CHIEF COMMUNICATION OFFICER 40.0 X 216014 0 35368 JOSEPH ELAM CHIEF INFORMATION OFFICER 40.0 X 200572 0 41958 MELANIE DISNEY TAMASKA CHIEF HUMAN RESOURCES OFFICER 40.0 X 170745 0 30878 MELISSA ZIEGELMEYER CHIEF AUDIT OFFICER 40.0 X 193540 0 19210 NEIL D PETERSON CHIEF CREDIT OFFICER 40.0 X 243179 0 31792 NICHOLAS MCEVOY CHIEF DELIVERY OFFICER 40.0 X 216552 0 35612 ROBIN SARGENT CHIEF SUPPORT OFFICER 40.0 X 208139 0 34741 BRIAN LUCAS SENIOR VICE PRESIDENT OF COMPLIANCE 40.0 X 189279 0 31135 Aaron Williams Mortgage Loan Originator 40.0 X 190579 0 11550 AMY S WHEELER SENIOR VICE PRESIDENT/CONTROLLER 40.0 X 166043 0 36957 BRANDON J WHEATLEY LOAN ORIGINATOR 40.0 X 294363 0 10363 LAURA J WURZELBACHER SENIOR VICE PRESIDENT OF FINANCIAL PLANNING & ANALYSIS 40.0 X 204599 0 13410 SCOTT MEYER VICE PRESIDENT OF MORTGAGE ORIGINATIONS 40.0 X 263603 0 9082 4296048 0 506501 52 false true false FISERV PO BOX 745148 ATLANTA GA 30374 CORE PROCESSING 3364004 OSWALD 308 E 8TH ST 500 CINCINATTI OH 45202 CONSTRUCTION 2934476 NCR CORPORATION 14181 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 ITM/DIGITAL SERVICES 2490173 ST GREGORY GROUP 9435 WATERSTONE BLVD CINCINATTI OH 45249 MARKETING 1747345 MERIDIANLINK 3560 HYLAND AVE STE 200 COSTA MESA CA 92626 SOFTWARE PROVIDER 1204072 43 0 Loan Interest 522100 199504193 199504193 Fee/Other Income 522100 24231101 24051448 179653 0 0 0 0 223735294 28120155 28120155 0 0 26370000 246378000 27244456 245931044 -874456 446956 -427500 -427500 0 0 0 0 0 251427949 251248296 179653 0 216000 14000 3381586 29229313 811724 8495488 2568920 647320 660000 1253255 2200832 1950879 7490706 71849 254403 165487399 3630449 583236 Provision for Loan Losses 32672311 Data Processing Expense 4798686 Loan Servicing 4411877 Miscellaneous Operating 63331 0 270893564 9106124 10904499 302338165 310049957 1123794 293787 0 0 0 0 4287035255 3643659355 2920033 3743209 75484776 22580475 53203687 52904301 386974238 352828385 1500000 1500000 58288540 52818747 5102489836 4428702240 27697508 29902318 0 0 785541092 419552453 3982584306 3683648947 4795822906 4133103718 X 306666930 295598522 306666930 295598522 5102489836 4428702240 -19465615 8397207 0 X false true true false 17257561 17257561 41906372 9618925 32287447 412539 169396 243143 15908304 12792154 3116150 52904301 Closely-held equity interests Financial derivatives U.S. Treasury Bonds 215478867 F Corporate Bonds 80894433 F Other Securities 56455085 F 352828385 Federal Income Taxes Member Shares 3363022469 Non-Member Deposits 320626478 3683648947 Schedule D, Part X, Line 2 ASC 740 DISCLOSURE: MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. true Bon Secours Mercy Health Foundation aka Mercy Health Foundation 1071 MERCY HEALTH PL CINCINATTI OH 45237 201072726 501(C)(3) 7500 GENERAL SUPPORT Building Blocks for Kids 8118 CORPORATE WAY STE 130 MASON OH 45040 680535595 501(C)(3) 5000 GENERAL SUPPORT Cincinnati Zoo & Botanical Garden 3400 VINE STREET CINCINATTI OH 45220 310537171 501(C)(3) 95000 GENERAL SUPPORT Easter Seals Tristate 2901 GILBERT AVE CINCINATTI OH 45206 310873433 501(C)(3) 5000 GENERAL SUPPORT Germania Society 3529 W Kemper Road CINCINATTI OH 45251 381950845 501(C)(3) 5000 GENERAL SUPPORT Greater Cincinnati Automobile Dealers Association 2315 Crowne Point Drive CINCINATTI OH 45241 310239010 501(C)(3) 10000 GENERAL SUPPORT Habitat for Humanity of Greater Cincinnati 4910 Para Drive Cincinnati OH 45237 311185975 501(C)(3) 5000 GENERAL SUPPORT Home Builders Association of Greater Cincinnati 11260 Chester Road Cincinnati OH 45246 310509078 501(C)(3) 7500 GENERAL SUPPORT Lakota Sports Organization PO Box 212 West Chester OH 45071 311131057 501(C)(3) 5000 GENERAL SUPPORT New Life Furniture Bank 11335 Reed Hartman Hwy Unit 134 Cincinnati OH 45241 262703774 501(C)(3) 10000 GENERAL SUPPORT Pathways to Home 2841 Blue Rock Road Cincinnati OH 45239 311301490 501(C)(3) 10000 GENERAL SUPPORT Pink Ribbon Good Inc 350 Huls Drive Englewood OH 45315 320020270 501(C)(3) 6000 GENERAL SUPPORT Save the Animals Foundation 4011 Red Bank Road Cincinnati OH 45227 311254920 501(C)(3) 10000 GENERAL SUPPORT Cure Starts Now Inc 10280 Chester Rd Cincinnati OH 45215 260269131 501(C)(3) 5000 GENERAL SUPPORT Urban Light Ministries Inc 20 S Limestone St 247 Springfield OH 45502 311451586 501(C)(3) 5000 GENERAL SUPPORT Xavier University 3800 Victory Parkway CINCINATTI OH 45207 310537516 501(C)(3) 25000 GENERAL SUPPORT 16 SCHOLARSHIPS 7 14000 Schedule I, Part III, Column (a) TYPE OF GRANT OR ASSISTANCE: SCHOLARSHIPS ARE AWARDED TO GENERAL ELECTRIC CREDIT UNION MEMBERS THAT ARE GRADUATING FROM HIGH SCHOOL AND CONTINUING THEIR EDUCATION. Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS: SCHOLARSHIP RECIPIENTS COMPLETE APPLICATIONS AND ARE CHOSEN BY COMMITTEE BASED ON CERTAIN CRITERIA. DOCUMENTATION IS MAINTAINED ON THE RECIPIENTS. X true true X X X false false false TIMOTHY D BALLINGER PRESIDENT/CEO 865269 0 0 0 6019 0 42000 0 15936 0 929224 0 0 0 NEIL D PETERSON CHIEF CREDIT OFFICER 243179 0 0 0 0 0 24482 0 7310 0 274971 0 0 0 JILL LINGO CHIEF COMMUNICATION OFFICER 216014 0 0 0 0 0 21919 0 13449 0 251382 0 0 0 ASHLEY CUNNINGHAM CHIEF DEVELOPMENT OFFICER 215344 0 500 0 0 0 21802 0 13449 0 251095 0 0 0 JEFFREY LENZER CHIEF RISK OFFICER 213620 0 0 0 0 0 21526 0 7310 0 242456 0 0 0 MELISSA ZIEGELMEYER CHIEF AUDIT OFFICER 189940 0 0 0 3600 0 18634 0 576 0 212750 0 0 0 NICHOLAS MCEVOY CHIEF DELIVERY OFFICER 216552 0 0 0 0 0 22163 0 13449 0 252164 0 0 0 ROBIN SARGENT CHIEF SUPPORT OFFICER 208139 0 0 0 0 0 21232 0 13509 0 242880 0 0 0 JOSEPH ELAM CHIEF INFORMATION OFFICER 199974 0 0 0 598 0 20509 0 21449 0 242530 0 0 0 MELANIE DISNEY TAMASKA CHIEF HUMAN RESOURCES OFFICER 170745 0 0 0 0 0 17532 0 13346 0 201623 0 0 0 DANIEL J VONDERHAAR CHIEF FINANCIAL OFFICER 238089 0 0 0 0 0 22220 0 20202 0 280511 0 0 0 BRIAN LUCAS SENIOR VICE PRESIDENT OF COMPLIANCE 181779 0 7500 0 0 0 17746 0 13389 0 220414 0 0 0 BRANDON J WHEATLEY LOAN ORIGINATOR 294363 0 0 0 0 0 1783 0 8580 0 304726 0 0 0 SCOTT MEYER VICE PRESIDENT OF MORTGAGE ORIGINATIONS 238666 0 23937 0 1000 0 2394 0 6688 0 272685 0 0 0 LAURA J WURZELBACHER SENIOR VICE PRESIDENT OF FINANCIAL PLANNING & ANALYSIS 197099 0 7500 0 0 0 0 0 13410 0 218009 0 0 0 AMY S WHEELER SENIOR VICE PRESIDENT/CONTROLLER 158543 0 7500 0 0 0 15616 0 21341 0 203000 0 0 0 Aaron Williams Mortgage Loan Originator 190579 0 0 0 0 0 1846 0 9704 0 202129 0 0 0 Schedule J, Part I, Line 1a Travel for companions COMPENSATION BENEFITS RECEIVED: THE CREDIT UNION HAS POLICIES WHICH ALLOW CERTAIN TRAVEL EXPENSES TO BE PAID BY THE CREDIT UNION WHEN A GUEST ACCOMPANIES AN OFFICIAL OR EMPLOYEE ON CREDIT UNION BUSINESS. THESE EXPENSES ARE TREATED AS TAXABLE INCOME TO THE OFFICIAL OR EMPLOYEE ON WHOSE BEHALF THE EXPENSES ARE PAID. Form 990, Part VI, Line 6 Classes of members or stockholders MEMBERS OR STOCKHOLDERS: THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS WITH EQUAL RIGHTS OF OWNERSHIP, GOVERNANCE AND VOTING. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body MEMBERS OF THE GOVERNING BODY: THE BOARD OF DIRECTORS IS ELECTED BY A MEMBERSHIP BALLOT VOTE COUNTED BY A CERTIFIED PUBLIC ACCOUNTING FIRM. THE RESULTS ARE ANNOUNCED AT THE ANNUAL MEETING. EACH MEMBER IS ELECTED FOR A THREE YEAR TERM. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders GOVERNANCE DECISIONS RESERVED FOR MEMBERS: CREDIT UNION DECISIONS THAT ARE SUBJECT TO MEMBERSHIP APPROVAL ARE MERGERS AND CHARTER CHANGES. Form 990, Part VI, Line 11b Review of form 990 by governing body PROCESS TO REVIEW THE FORM 990: A REVIEW IS CONDUCTED BY THE CFO, PRESIDENT/CEO AND HUMAN RESOURCE DIRECTOR PRIOR TO SUBMISSION TO THE IRS. THE RETURNS ARE MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW. Form 990, Part VI, Line 12c Conflict of interest policy CONFLICT OF INTEREST POLICY: EMPLOYEES AND BOARD OF DIRECTORS ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST WHEN THEY OCCUR. IF THERE IS ANY INDICATION THAT ACTIVITIES MAY CAUSE A CONFLICT, EMPLOYEES SHOULD CONSULT THEIR IMMEDIATE SUPERVISOR OR CEO. CONFLICTS OF INTEREST AND RELATED PARTY TRANSACTIONS INVOLVING DIRECTORS AND EXECUTIVE OFFICERS MUST BE REVIEWED BY THE SUPERVISORY COMMITTEE OR THE BOARD OF DIRECTORS. Form 990, Part VI, Line 15a Process to establish compensation of top management official PROCESS FOR DETERMINING COMPENSATION FOR THE CEO AND OTHER OFFICERS: PRESIDENT'S COMPENSATION IS DETERMINED BY THE COMPENSATION COMMITTEE COMPRISED OF SELECTED BOARD MEMBERS. ONCE COMPLETED, THE EVALUATION IS SUBMITTED TO THE FULL BOARD FOR APPROVAL. SALARY INCREASES ARE PERFORMANCE BASED AND INCLUDE SALARY SURVEYS. EXECUTIVE LEVEL SALARIES ARE EVALUATED BY THE PRESIDENT AND HUMAN RESOURCES WITH SUGGESTED SALARY INCREASES PRESENTED AND APPROVED BY THE EXECUTIVE COMMITTEE. ALL OTHER EMPLOYEE'S COMPENSATION ARE REVIEWED ANNUALLY ON THEIR ANNIVERSARY DATE. LAST REVIEW WAS IN 2024 Form 990, Part VI, Line 19 Required documents available to the public GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC: FINANCIAL INFORMATION IS PROVIDED ONLINE THROUGH OUR CORPORATE WEBSITE, QUARTERLY NEWSLETTER, OR ANNUAL REPORTS. OTHER GOVERNING INFORMATION IS AVAILABLE UPON REQUEST. CUSO CORPORATION 10485 READING ROAD CINCINATTI OH 45241 311420019 MORTGAGE SERVICE OH GECU C Corporation 1 true false false false false false true false false false false false false false true true false true false false CUSO CORPORATION F 650000 CASH CUSO CORPORATION N 36621 CASH CUSO CORPORATION O 24986 CASH CUSO CORPORATION Q 4122 CASH