STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA (EIN 56-2180770)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-05
- IRS object ID
- 202533099349302793
- Schema version
- 2024v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-11-05T13:40:50-06:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 994260840 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DOEREN MAYHEW | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8785 SW 165TH AVENUE SUITE 303 | AddressLine1Txt |
| City | MIAMI | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33193 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 562180770 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LATINO COMMUNITY CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | LATI | BusinessNameControlTxt |
| Phone | 9196889270 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 WEST MORGAN STREET | AddressLine1Txt |
| City | DURHAM | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27701 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | RODRIGO INIGUEZ | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 9842711010 | PhoneNum |
| Signature | 2025-11-05 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | AUBREY CLEGG | PreparerPersonNm |
| PTIN | P01076395 | PTIN |
| Phone | 3052328272 | PhoneNum |
| Preparation | 2025-11-03 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | MARIA VICTORIA GARCIA | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 WEST MORGAN STREET | AddressLine1Txt |
| City | DURHAM | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27701 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $82,531,419 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.LATINOCCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Other Organization Dsc | CREDIT UNION | OtherOrganizationDsc |
| Formation | 2000 | FormationYr |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Activity Or Mission | LATINO COMMUNITY CREDIT UNION'S (LCCU) MISSION IS TO PROVIDE ETHICAL FINANCIAL PRODUCTS AND EDUCATION TO EMPOWER COMMUNITIES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 405 | TotalEmployeeCnt |
| Total Volunteers | 13 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $4,395,258 | PYContributionsGrantsAmt |
| CY Contributions Grants | $5,000,000 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $64,175,913 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $71,103,339 | CYProgramServiceRevenueAmt |
| PY Investment Income | $4,811,233 | PYInvestmentIncomeAmt |
| CY Investment Income | $6,428,080 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $73,382,404 | PYTotalRevenueAmt |
| CY Total Revenue | $82,531,419 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $143,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $142,500 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $16,032,694 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $22,032,501 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $36,421,664 | PYOtherExpensesAmt |
| CY Other Expenses | $48,407,980 | CYOtherExpensesAmt |
| PY Total Expenses | $52,597,358 | PYTotalExpensesAmt |
| CY Total Expenses | $70,582,981 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $20,785,046 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $11,948,438 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,031,841,907 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,053,161,674 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $902,416,145 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $911,787,474 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $129,425,762 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $141,374,200 | NetAssetsOrFundBalancesEOYAmt |
| Mission | LATINO COMMUNITY CREDIT UNION'S (LCCU) MISSION IS TO PROVIDE ETHICAL FINANCIAL PRODUCTS AND EDUCATION TO EMPOWER COMMUNITIES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | CREDIT UNION PROGRAMS: PROVIDE MORTGAGES AND CONSUMER LOANS TO MEMBERS AT AFFORDABLE RATES. THERE WERE 7,548 LOANS GRANTED DURING 2024 TO THE CREDIT UNION'S MEMBERS. OF THE 430 HOME LOANS MADE TO MEMBERS, 264 WERE TO FIRST-TIME HOMEBUYERS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OFFER COMPETITIVE RATES ON SHARE DEPOSITS AND SERVICES. LCCU PAID OUT $21,768,667 IN DIVIDENDS FOR ITS 226,594 MEMBER ACCOUNTS IN 2024. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROVIDE FINANCIAL EDUCATION TO OVER 144,214 MEMBERS AND TO THE BROADER COMMUNITY. OFFER FREE FINANCIAL EDUCATION WORKSHOPS TO THE COMMUNITY, DEVELOP AND DISTRIBUTE CURRICULUM AND EDUCATIONAL VIDEOS TO INTERESTED PARTIES. IN 2024, LCCU PROVIDED 49 SCHOLARSHIPS FOR HIGHER EDUCATION TO MEMBERS FOR A TOTAL OF $155,500. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 24398 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 405 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MARIA VICTORIA GARCIA | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9196889270 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 WEST MORGAN STREEET | AddressLine1Txt |
| City | DURHAM | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27701 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (20 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| MARIA SCANGA | ||||||||
| BOARD CHAIR | 5.00 | Yes (X) | $0 | $0 | $0 | |||
| DAVID BREHMER | ||||||||
| BOARD VICE CHAIR | 5.00 | Yes (X) | $0 | $0 | $0 | |||
| FARAD ALI | ||||||||
| BOARD SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| LORENA PATTERSON | ||||||||
| BOARD DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| ERIKA BELL | ||||||||
| BOARD DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JERRY HARMON | ||||||||
| BOARD DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JORGE ARCHILA | ||||||||
| BOARD TREASURER | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| MARIA VICTORIA GARCIA | ||||||||
| CEO | 40.00 | $436,658 | $0 | $27,831 | Yes (X) | |||
| RODRIGO INIGUEZ | ||||||||
| CHIEF FINANCIAL OFFICER | 40.00 | $264,876 | $0 | $29,475 | Yes (X) | |||
| ROGER MONTES | ||||||||
| CHIEF RETAIL OFFICER | 40.00 | $192,072 | $0 | $25,995 | Yes (X) | |||
| ALISON YONAS | ||||||||
| CHIEF DEVELOPMENT & IMPACT | 40.00 | $199,200 | $0 | $11,940 | Yes (X) | |||
| IRVING BUSTILLO | ||||||||
| CHIEF LENDING OFFICER | 40.00 | $192,268 | $0 | $28,578 | Yes (X) | |||
| STEVE HERRELL | ||||||||
| CHIEF RISK OFFICER | 40.00 | $198,290 | $0 | $12,370 | Yes (X) | |||
| TERRY PHELPS | ||||||||
| CHIEF OPERATIONS OFFICER | 40.00 | $248,078 | $0 | $10,623 | Yes (X) | |||
| EDGAR OMAR LOPEZ | ||||||||
| CHIEF PEOPLE OFFICER | 40.00 | $199,200 | $0 | $19,180 | Yes (X) | |||
| JAMES WADDELL | ||||||||
| VP, INFORMATION TECHNOLOGY | 40.00 | $181,229 | $0 | $25,774 | Yes (X) | |||
| CAMILO MONCAYO | ||||||||
| VP DEPOSITS & OPERATIONS | 40.00 | $129,793 | $0 | $15,158 | Yes (X) | |||
| GABRIEL TREVES-KAGAN | ||||||||
| VP, DEVELOPMENT | 40.00 | $129,789 | $0 | $7,990 | Yes (X) | |||
| ETNA CLARO | ||||||||
| VP, FACILITIES | 40.00 | $127,375 | $0 | $20,699 | Yes (X) | |||
| SORAYA VERONICA CORDOVA | ||||||||
| VP, CONSUMER LENDING | 40.00 | $124,877 | $0 | $23,157 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,623,705 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $258,770 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 19 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| NORTH CAROLINA STATE EMPLOYEES CREDIT UN | |||||
| 1000 WADE AVENUE | RALEIGH | NC | 27605 | SERVICE FEE | $8,690,080 |
| JACK HENRY & ASSOCIATES INC | |||||
| PO BOX 807 663 W HWY 60 | MONETT | MO | 65708 | CORE OPERATIONS | $1,696,079 |
| PSCUVELERA | |||||
| 560 CARILLON PARKWAY | ST PETERSBURG | FL | 33716 | CARD OPERATIONS | $1,654,604 |
| RIGGS-HARROD BUILDERS INC | |||||
| PO BOX 11100 | DURHAM | NC | 27703 | BUILDINGS | $1,066,959 |
| CORNERSTONE ADVISORS OF ARIZONA LLC | |||||
| 7272 E INDIAN SCHOOL RD SUITE 400 | SCOTTSDALE | AZ | 85251 | CORE CONSULTANTS | $986,332 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 31 | CntrctRcvdGreaterThan100KCnt |
| Related Organizations | $5,000,000 | RelatedOrganizationsAmt |
| Total Contributions | $5,000,000 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| LOAN INTEREST INCOME | 522100 | $61,320,903 | $61,320,903 |
| FEES/CHARGES/INTERCHANGE INCOME | 522100 | $9,125,868 | $9,125,868 |
| COMMISSION INCOME | 522100 | $488,309 | $488,309 |
| OTHER INCOME | 522100 | $168,259 | $168,259 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $71,103,339 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,428,080 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $6,428,080 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $82,531,419 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $77,531,419 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $142,500 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,096,634 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,414,193 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,002,198 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,072,671 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,446,805 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $76,275 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $30,500 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,604,084 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,048 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,281,709 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $650,592 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,613,498 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $398,574 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,785 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $23,763,319 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,332,631 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $155,329 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| SERVICE FEES (NORTH CAR | $8,690,080 |
| PROVISION FOR LOAN LOSS | $2,022,919 |
| LOAN SERVICING EXPENSES | $527,987 |
| MISCELLANEOUS | $83,593 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $113,057 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $70,582,981 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,471,066 | BOYAmt |
| EOY | $17,899,110 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $130,376,495 | BOYAmt |
| EOY | $100,574,018 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,504,594 | BOYAmt |
| EOY | $419,879 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $847,785,372 | BOYAmt |
| EOY | $860,695,001 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,505,869 | BOYAmt |
| EOY | $1,987,441 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $28,259,873 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $5,554,461 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,123,788 | BOYAmt |
| EOY | $22,705,412 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $9,998,503 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,000,360 | BOYAmt |
| EOY | $2,145,300 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,074,363 | BOYAmt |
| EOY | $36,737,010 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,031,841,907 | BOYAmt |
| EOY | $1,053,161,674 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,125,710 | BOYAmt |
| EOY | $18,867,222 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,807,971 | BOYAmt |
| EOY | $1,279,412 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,775,000 | BOYAmt |
| EOY | $39,275,000 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $99,936,000 | BOYAmt |
| EOY | $99,436,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $740,771,464 | BOYAmt |
| EOY | $752,929,840 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $902,416,145 | BOYAmt |
| EOY | $911,787,474 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $129,425,762 | BOYAmt |
| EOY | $141,374,200 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $129,425,762 | BOYAmt |
| EOY | $141,374,200 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,031,841,907 | BOYAmt |
| EOY | $1,053,161,674 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $11,948,438 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,252,655 | OtherCostOrOtherBasisAmt |
| Book Value | $4,252,655 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $12,945,811 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,863,776 | DepreciationAmt |
| Book Value | $11,082,035 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,264,454 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,311,899 | DepreciationAmt |
| Book Value | $952,555 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,796,953 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,378,786 | DepreciationAmt |
| Book Value | $6,418,167 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $22,705,412 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)
| DescDesc | AmtAmt |
|---|---|
| SHARE ACCOUNTS | $90,036,261 |
| SHARE DRAFT ACCOUNTS | $121,471,219 |
| MONEY MARKET ACCOUNTS | $213,650,318 |
| CERTIFICATES | $319,310,408 |
| IRA SHARES | $8,461,634 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $752,929,840 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $82,531,419 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $82,531,419 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $82,531,419 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $70,582,981 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $70,582,981 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $70,582,981 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | ON A MONTHLY BASIS, THE CREDIT UNION COLLECTS PAYMENT FROM MEMBERS WITH MORTGAGE LOANS OUTSTANDING. AS STIPULATED BY THE AGREEMENT SIGNED BY BOTH PARTIES, THE MONTHLY PAYMENT FOR EACH MEMBER INLCUDES PRINCIPAL, INTEREST, AND ESCROWS. ESCROWS ARE USED TO PAY TAXES AND INSURANCE ON THE PROPERTY. |
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT, BY THE INTERNAL REVENUE CODE SECTION 501(C)(1)(A)(I), FROM FEDERAL AND STATE INCOME TAXES. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIPS | GrantTypeTxt |
| Recipient | 49 | RecipientCnt |
| Cash Grant | $142,500 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | LCCU IS PLEASED TO INVEST IN ITS MEMBERS' EDUCATION. TO ENSURE PROPER USE OF GRANTED SCHOLARSHIP FUNDS, THE CREDIT UNION MAKES THE PAYMENT IN THE NAME OF THE SCHOOL OF HIGHER EDUCATION WHICH THE SCHOLARSHIP RECIPIENT WILL BE ATTENDING. LCCU ALSO REQUIRES A COPY OF THE ACCEPTANCE LETTER FROM THE EDUCATIONAL INSTITUTION THE WINNERS WILL BE ATTENDING, AS WELL AS TRANSCRIPTS, VERIFICATION OF INCOME DECLARED IN THE SCHOLARSHIP APPLICATION, EVIDENCE OF ADDITIONAL GRANTS, LOANS AND REPAYMENT PLAN RELEVANT TO THEIR EDUCATION, AND EVIDENCE OF PERSONAL FUNDS AVAILABLE TO COVER ANY OUTSTANDING BALANCES, IF APPLICABLE. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (9 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MARIA VICTORIA GARCIA | ||||||||||||||
| CEO | $418,950 | $0 | $17,708 | $0 | $0 | $0 | $20,591 | $0 | $7,240 | $0 | $464,489 | $0 | $0 | $0 |
| RODRIGO INIGUEZ | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $216,961 | $0 | $47,915 | $0 | $0 | $0 | $10,781 | $0 | $18,694 | $0 | $294,351 | $0 | $0 | $0 |
| TERRY PHELPS | ||||||||||||||
| CHIEF OPERATIONS OFFICER | $238,078 | $0 | $10,000 | $0 | $0 | $0 | $3,600 | $0 | $7,023 | $0 | $258,701 | $0 | $0 | $0 |
| IRVING BUSTILLO | ||||||||||||||
| CHIEF LENDING OFFICER | $184,268 | $0 | $8,000 | $0 | $0 | $0 | $10,500 | $0 | $18,078 | $0 | $220,846 | $0 | $0 | $0 |
| EDGAR OMAR LOPEZ | ||||||||||||||
| CHIEF PEOPLE OFFICER | $191,200 | $0 | $8,000 | $0 | $0 | $0 | $11,940 | $0 | $7,240 | $0 | $218,380 | $0 | $0 | $0 |
| ROGER MONTES | ||||||||||||||
| CHIEF RETAIL OFFICER | $184,072 | $0 | $8,000 | $0 | $0 | $0 | $11,460 | $0 | $14,535 | $0 | $218,067 | $0 | $0 | $0 |
| ALISON YONAS | ||||||||||||||
| CHIEF DEVELOPMENT & IMPACT | $191,200 | $0 | $8,000 | $0 | $0 | $0 | $11,940 | $0 | $0 | $0 | $211,140 | $0 | $0 | $0 |
| STEVE HERRELL | ||||||||||||||
| CHIEF RISK OFFICER | $190,290 | $0 | $8,000 | $0 | $0 | $0 | $11,460 | $0 | $910 | $0 | $210,660 | $0 | $0 | $0 |
| JAMES WADDELL | ||||||||||||||
| VP, INFORMATION TECHNOLOGY | $173,729 | $0 | $7,500 | $0 | $0 | $0 | $9,000 | $0 | $16,774 | $0 | $207,003 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | LCCU HAD 144,214 MEMBER-OWNERS AS OF DECEMBER 31, 2024. |
| FORM 990, PART VI, SECTION A, LINE 7A | LCCU'S MEMBER-OWNERS ELECT THE BOARD OF DIRECTORS AT 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. |
| FORM 990, PART VI, SECTION B, LINE 11B | LCCU HAS A COMPREHENSIVE PROCESS TO REVIEW THE 990. THE 990 IS FIRST COMPLETED BY THE FINANCE DEPARTMENT AFTER THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS ARE COMPLETE. THE 990 IS THEN REVIEWED BY THE CEO AND SENT TO THE BOARD OF DIRECTORS FOR THEIR REVIEW BEFORE BEING SUBMITTED TO THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | LCCU'S CONFLICT OF INTEREST POLICY STATES THAT THE RESPONSIBILITY FOR AVOIDING AND DISCLOSING BOTH ACTUAL AND POTENTIAL CONFLICTS OF INTEREST FALLS ON THE INDIVIDUAL DIRECTORS AND COMMITTEE MEMBERS THEMSELVES. FAILURE TO COMPLY WITH LCCU POLICIES CONCERNING CONFLICT OF INTEREST MAY SUBJECT THE DIRECTOR OR COMMITTEE MEMBER TO REMOVAL ACCORDING TO THE BY-LAWS OF LCCU. A CONFLICT OF INTEREST IS PRESENT WHENEVER A DIRECTOR OR COMMITTEE MEMBER HAS A MATERIAL FINANCIAL INTEREST IN A PROPOSED CONTRACT OR TRANSACTION TO WHICH LCCU MAY BE A PARTY. A CONFLICT OF INTEREST MAY ALSO EXIST WHERE THE PRIVATE INTERESTS OF A DIRECTOR OR COMMITTEE MEMBER AND HIS OR HER OFFICIAL LCCU RESPONSIBILITIES CONFLICT. THE DEFINITION OF A DIRECTOR OR COMMITTEE MEMBER ALSO INCLUDES THE INDIVIDUAL'S IMMEDIATE FAMILY, WHICH INCLUDES A PERSON'S SPOUSE, PARENTS, SIBLINGS, CHILDREN, LIFE PARTNER AND ANYONE LIVING WITHIN THE PERSON'S HOUSEHOLD AS A FAMILY MEMBER. THE BOARD OF DIRECTORS, WITHOUT THE PARTICIPATION OR VOTE OF THE DIRECTOR INVOLVED, WILL EVALUATE DISCLOSURES AND ANY OTHER INFORMATION CONCERNING ACTUAL AND POTENTIAL CONFLICTS OF INTEREST AND TAKE APPROPRIATE ACTION IN THE BEST INTERESTS OF LCCU. THE BOARD MAY ASK DISINTERESTED PARTIES TO REVIEW THE ACTUAL OR POTENTIAL CONFLICTS OF INTEREST AND RECOMMEND A COURSE OF ACTION BASED ON STATUTES, REGULATIONS, BY-LAW PROVISIONS AND INTERNAL POLICIES. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE PROCESS OF DETERMINING COMPENSATION FOR LCCU'S CEO IS HANDLED BY THE BOARD OF DIRECTORS. THE BOARD CHAIR DETERMINES THE ANNUAL EVALUATION FORMAT AND INCLUDES THE CEO IN THE PROCESS. THE BOARD CHAIR PRESENTS THIS DATA TO THE FULL BOARD WITHOUT THE PRESENCE OF THE CEO. A NEW SALARY IS DECIDED BASED ON JOB PERFORMANCE, CREDIT UNION PERFORMANCE, AND COMPENSATION DATA FOR SIMILAR POSITIONS HELD, AND IS EFFECTIVE AS OF THE START OF THE NEW FISCAL YEAR. THIS PROCESS IS DOCUMENTED BY THE SECRETARY OF THE BOARD OF DIRECTORS AND THE NEW SALARY IS COMMUNICATED BY THE BOARD CHAIR TO THE HUMAN RESOURCES DEPARTMENT, WHICH DOCUMENTS AND IMPLEMENTS THE SALARY CHANGE. |
| FORM 990, PART VI, SECTION C, LINE 19 | LCCU MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. LCCU MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY POSTING A COPY IN ITS BRANCHES MONTHLY. A MORE COMPLETE VERSION OF ITS FINANCIALS IS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART IX, LINE 11G | OTHER PROFESSIONAL SERVICES 1,604,084. |
| FORM 990, PART IX, LINE 24E | ASSOCIATION DUES 61,709. FRAUD EXPENSES 51,348. |
| FORM 990, PART XII, LINE 2 | THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LATINO COMMUNITY DEVELOPMENT CENTER | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 WEST MORGAN STREET | AddressLine1Txt |
| City | DURHAM | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27701 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 820551614 | EIN |
| Primary Activities | FINANCIAL EDUCATION | PrimaryActivitiesTxt |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | LINE 7 | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LATINO COMMUNITY CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (1) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (1) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | Yes (1) | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LATINO COMMUNITY DEVELOPMENT CENTER | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | C | TransactionTypeTxt |
| Involved | $5,000,000 | InvolvedAmt |
| Method Of Amount Determination | ACTUAL GRANT FUNDS RECEIVED | MethodOfAmountDeterminationTxt |