2019-11-12T13:02:50-06:00 2018-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2018-01-01 741109889 FIVEPOINT CREDIT UNION FIVE 4097268300 3700 SKYLINE DR NEDERLAND TX 776271366 KENNETH MILLER EXECUTIVE VICE PRESIDENT 4097268200 2019-11-04 1 ROBIN D HOAG CPA P00360662 2482443000 104.11.88.150 2019-11-04 11:39:37 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A7DB26C3BB201601930FCFA0C4651552B54C26A2 2018 2020-03-31 21:24:44Z ERIK SHAW PO BOX 1366 NEDERLAND TX 77627 41745393 0 X WWW.FIVEPOINTCU.ORG X 1935 TX TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERSHIP WITH VARIOUS LOAN AND DEPOSIT PRODUCTS. 11 11 251 14 72158 75257 0 0 37088109 39407951 1382363 2253209 81194 72158 38551666 41733318 10000 214756 0 0 14373844 15187365 0 0 0 22583682 22592604 36967526 37994725 1584140 3738593 638392794 600855416 571540789 530708227 66852005 70147189 TO IMPROVE THE QUALITY OF LIFE FOR OUR MEMBERS AND THE COMMUNITY. 0 0 INTREREST PAID ON MEMBERS' DEPOSITS APPROXIMATED $3,200,000 DURING THE YEAR ENDED DECEMBER 31, 2018. ATM SERVICES PROVIDED TO THE MEMBERSHIP REPRESENTED $2,718,615 OF TOTAL EXPENSES. HOME BANKING SERVICES PROVIDED TO THE MEMBERSHIP REPRESENTED A COST OF APPROXIMATELY $1,066,000 DURING THE YEAR ENDED DECEMBER 31, 2018. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 11392 0 1 251 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 0 1 0 1 1 1 1 1 0 X WENDI CHRISTIAN 4097268212 PO BOX 1366 NEDERLAND TX 77627 GLENN JOHNSON CHAIRMAN 1.00 X 0 0 0 JAMES SAXON SECRETARY TREASURER 1.00 X 0 0 0 JOE DICKSON FIRST VICE CHAIRMAN 1.00 X 0 0 0 JOHN COMEAUX SECOND VICE CHAIRMAN 1.00 X 0 0 0 LOUIS ANSELMO BOARD MEMBER 0.50 X 0 0 0 JODY BRIGGS BOARD MEMBER 0.50 X 0 0 0 HILTON FERGUSON JR BOARD MEMBER 0.50 X 0 0 0 DENNY WINTER BOARD MEMBER 0.50 X 0 0 0 JACK THORNTON BOARD MEMBER 0.50 X 0 0 0 DENNY WINTER BOARD MEMBER 0.50 X 0 0 0 ERIK SHAW CEO 40.00 X 435833 0 34280 KENNETH MILLER EXECUTIVE VICE PRESIDENT 40.00 X 316948 0 28196 VICKI KELLEY SVP, HUMAN RESOURCES 40.00 X 197510 0 25234 KRISTEN BELLANGER SVP, OPERATIONS 40.00 X 205686 0 21810 JENNIFER WEBB SVP, LENDING 40.00 X 195588 0 11629 MATT BOREL FINANCIAL ADVISOR 40.00 X 215721 0 15287 DEBBIE SPEAR VP OPERATIONS 40.00 X 119579 0 10486 MARLA RUCKER VP IT 40.00 X 116674 0 23379 CATHY HAGNER VP STORE ADMINISTRATION 40.00 X 129129 0 9683 GLYNDA MANUEL VP LENDING 40.00 X 129152 0 7478 AIMEE SLOTT VP BUSINESS LENDING 40.00 X 117873 0 7721 2179693 0 195183 12 0 1 0 PULSE EFT 1301 MCKINNEY STE 2500 HOUSTON TX 77010 CARD PROCESSING 1204426 NCR CORPORATION 5601 LINDERO CANYON ROAD SUITE 100 WESTLAKE VILLAGE CA 91362 DEBIT/ATM PROCESSOR 1203611 CONSTRUCTION ZONE OF SETX PO BOX 192 AUBREY TX 099740641 CONTRACTORS FOR BUILDING OUT BRIDGE CITY 1134727 ANN LEE AND ASSOCIATES LTD 1555 DUSTIN CADE DR NEW BRAUNFELS TX 530080979 MARKETING FIRM 806449 QUESTMARK INFORMATION MGMT 9440 KIRBY HOUSTON TX 78704 STATEMENT PROCESSING SERVICES 450442 30 LOAN RECEIVABLE 522100 24639005 24639005 FEES, CHARGES, OTHER 522100 14768946 14768946 39407951 2205084 2205084 60200 12075 48125 48125 48125 NON-MEMBER ATM FEES 900099 50358 50358 INSURANCE PRODUCTS 524298 21800 21800 72158 41733318 39456076 72158 2205084 X 203246 11510 1703722 9675842 468180 2507998 831623 294804 15224 687106 1651539 1570362 2150004 1296343 187322 13966 3233037 109266 2617219 273530 ATM EXPENSE 2902947 PROVISION FOR LOAN LOSS 2344328 LOAN SERVICING 1278700 MAINTENANCE AND REPAIRS 810029 1156878 37994725 11498743 12483830 118072531 24584711 -2391384 62836 7719309 7759003 432120339 470250589 804567 952621 51312042 24157860 26898656 27154182 24598627 38772292 19071406 18835352 638392794 600855416 4711072 4479510 10000000 566829717 516228717 571540789 530708227 X 0 0 0 0 66852005 70147189 66852005 70147189 638392794 600855416 3738593 -443409 0 X X 0 1 X 1 0 1631458 1631458 27205856 7590712 19615144 3735196 2591896 1143300 18739532 13975252 4764280 27154182 MEMBERS SHARE ACCOUNTS 516228717 516228717 X 41733318 0 41733318 0 41733318 37994725 0 37994725 0 37994725 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE (INTERNAL REVENUE CODE SECTION 501(C)(14), FROM FEDERAL INCOME TAX. 1 AMERICAN CANCER SOCIETY 2433 RIDGEPOINT DRIVE SUITE A AUSTIN TX 78754 741185665 501(C)(3) 188246 CHARITABLE DONATION 1 0 SCHOLARSHIPS 12 11510 PART I, LINE 2: THE SCHOLARSHIPS ARE AWARDED BASED ON A PANEL OF JUDGES REVIEWING SCHOLARSHIP APPLICATIONS AND ESSAYS. ONCE THE CREDIT UNION RECEIVES CONFIRMATION OF THE STUDENT'S ENROLLMENT AND PAYMENT OF TUITION, THE FUNDS ARE DEPOSITED TO THEIR SAVINGS ACCOUNT. X X 1 1 X X X 0 1 0 ERIK SHAW CEO 366482 0 43795 0 25556 0 11673 0 22607 0 470113 0 0 0 KENNETH MILLER EXECUTIVE VICE PRESIDENT 267481 0 35230 0 14237 0 13568 0 14628 0 345144 0 0 0 VICKI KELLEY SVP, HUMAN RESOURCES 162138 0 21892 0 13480 0 10606 0 14628 0 222744 0 0 0 KRISTEN BELLANGER SVP, OPERATIONS 173613 0 23384 0 8689 0 10260 0 11550 0 227496 0 0 0 JENNIFER WEBB SVP, LENDING 169343 0 23384 0 2861 0 8772 0 2857 0 207217 0 0 0 MATT BOREL FINANCIAL ADVISOR 215088 0 581 0 52 0 13040 0 2247 0 231008 0 0 0 FORM 990, SCH J, PART II, LINE 4B THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE CEO, ERIK SHAW AND THE EVP, KENNETH MILLER, THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. THE CREDIT UNION HAS ENTERED INTO A RETENTION PAYMENT PLAN. EXECUTIVES COVERED UNDER THESE POLICIES HAVE AGREED TO RETENTION PAYMENT PLANS. THE PLAN IS A NON-QUALIFIED DEFERRED COMPENSATION PLAN SUBJECT TO CLIFF VESTING AND IS INTENDED TO QUALIFY UNDER SECTION 457(F). THE BENEFIT LIABILITY RECORDED IN THE FINANCIAL STATEMENTS PER PARTICIPANT AS OF DECEMBER 31, 2018 IS AS FOLLOWS: ERIK SHAW: $250,000 VICKI KELLEY: $209,952 KRISTEN BELLANGER: $187,662 JENNIFER WEBB: $218,983 ERIK SHAW PRESIDENT/CEO TO FUND LIFE INSURANCE POLICY X 4500000 4534140 0 1 1 KENNETH MILLER EXECUTIVE VP TO FUND LIFE INSURANCE POLICY X 3200000 3224863 0 1 1 7759003 FORM 990, SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANTS NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART VI, SECTION A, LINE 6 EVERY CLIENT THAT HAS AN ACCOUNT WITH OUR CREDIT UNION IS ALSO A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A OUR BOARD OF DIRECTORS ARE ELECTED BY A VOTE OF THE MEMBERSHIP. ANNUALLY, IF THERE IS AN OPEN POSITION, THE NOMINATING COMMITTEE WILL PUT FORTH THE CANDIDATES WHICH OUR MEMBERS CAN VOTE ON DURING THE ANNUAL MEETING. 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 FORM 990 IS REVIEWED BY ERIK SHAW, CEO, KENNETH MILLER, EVP, AND VICKI KELLEY, SVP OF HUMAN RESOURCES FOR ITS ACCURACY. FORM 990, PART VI, SECTION B, LINE 12C OUR COMPLIANCE OFFICER ALONG WITH SENIOR MANAGEMENT REVIEW POLICIES ANNUALLY. WE THEN REQUIRE EMPLOYEES TO SIGN THEY HAVE READ AND UNDERSTOOD THE POLICIES. OUR INTERNAL AUDIT DEPARTMENT CONDUCTS AUDITS AND REVIEW TO ENSURE COMPLIANCE. FORM 990, PART VI, SECTION B, LINE 15 FIVEPOINT UTILIZES A 3RD PARTY TO PROVIDE INDUSTRY STANDARD AND REGIONAL SPECIFIC SALARY RANGES FOR ALL STAFF. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 24E DEBIT/CREDIT EXPENSES 613,899. TRAINING/DEVELOPMENT/EDUCATION 389,075. LOSS ON REPOS/OTHER 115,070. MISCELLANEOUS 38,834. FORM 990, PART XII, LINE 2C: A COMMITTEE EXISTS THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF THE ANNUAL FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FIVEPOINT FINANCIAL SERVICES LLC PO BOX 1366 NEDERLAND TX 77627 464687469 FINANCIAL SERVICES TX 3 1011 FIVEPOINT CREDIT UNION FIVEPOINT INSURANCE AGENCY LLC PO BOX 1366 NEDERLAND TX 77627 611739967 INSURANCE TX 21797 30699 FIVEPOINT FINANCIAL SERVICES LLC