2018-11-15T09:59:21-06:00 2017-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2017-01-01 561295697 VIZO FINANCIAL CORPORATE CREDIT UNION VIZO 3362174992 7900 TRIAD CENTER DRIVE NO 410 GREENSBORO NC 27409 DAVID BREHMER PRESIDENT 3362174900 2018-11-13 1 DOUGLAS J ORTH P01076394 3052328272 64.95.240.2 2018-11-13 17:13:15 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A7DB26C3BB201601930FCFA0C4651552B54C26A2 2017 2019-02-21 02:37:17Z DAVID BREHMER 7900 TRIAD CENTER DRIVE SUITE 410 GREENSBORO NC 27409 129304973 0 2032 X WWW.VFCCU.ORG X 1980 NC VIZO FINANCIAL IS THE CREDIT UNIONS' "CREDIT UNION" OFFERING LIQUIDITY SERVICES, INVESTMENT SERVICES, AND CORRESPONDENT SERVICES TO ITS MEMBERS. 12 12 75 19 0 0 0 0 12419486 11866308 32725476 55546488 626673 0 45771635 67412796 0 35000 0 0 7855932 8881405 0 0 0 26592462 46931836 34448394 55848241 11323241 11564555 3830569305 4176637542 3549392530 3879592335 281176775 297045207 MAXIMIZE THE VALUE OF MEMBER OWNERSHIP THROUGH SUPERIOR SERVICE AND PERSONALIZED PRODUCTS. 0 0 SETTLEMENT AND PAYMENT SERVICES; MANAGEMENT OF SHORT TERM FUNDS & LIQUIDITY SERVICES; ASSET-LIABILITY MANAGEMENT MODELING & CONSULTING SERVICES. INCOME DERIVED FROM THE MANAGEMENT OF MEMBER SHORT TERM FUNDS AND FEE-BASED PAYMENT AND CONSULTING SERVICES PROVIDE THE FOUNDATION FOR THE ORGANIZATION'S OPERATION AND FINANCIAL STABILITY. THIS FINANCIAL STABILITY ALLOWS THE ORGANIZATION THE ABILITY TO PROVIDE LOW-COST, VALUE ADDED FINANCIAL RISK MANAGEMENT, AND EDUCATIONAL SERVICES TO OUR RESTRICTED MEMBERSHIP. FUNDS MANAGEMENT AND LIQUIDITY SERVICES: ONE OF THE KEY SERVICES WE PROVIDE MEMBERS IS A COMPLETE LINE OF COMPETITIVE SHORT-TERM DEPOSIT PRODUCTS COMBINED WITH LINES-OF-CREDIT SO THAT THEY CAN MORE EFFECTIVELY MANAGE THEIR CASH FLOW NEEDS. ASSET-LIABILITY MANAGEMENT (ALM) AND RISK MANAGEMENT SERVICES: ALM SERVICES INCLUDE BOTH CONSULTING AND A MODEL FOR HELPING MEMBER CREDIT UNIONS BETTER UNDERSTAND AND MANAGE THE RISKS ON THEIR BALANCE SHEET. OUR RISK MANAGEMENT SERVICES INCLUDE COMPLIANCE/REGULATORY TRAINING, INFORMATION SYSTEM RISK ASSESSMENTS, AND BUSINESS CONTINUITY PLANNING. WE PROVIDE THESE SERVICES TO HELP CREDIT UNIONS BETTER UNDERSTAND AND MANAGE THEIR OPERATIONAL RISKS. 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 0 1 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 1 6 0 1 75 1 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X DAVID BREHMER 3362174992 7900 TRIAD CENTER DRIVE SUITE 410 GREENSBORO NC 27409 ALISON DETUNCQ CHAIR 3.00 X 0 0 0 SCOTT WOODS VICE CHAIR 2.00 X 0 0 0 JOAN MORAN TREASURER 2.00 X 0 0 0 LUCILE BECKWITH SECRETARY 2.00 X 0 0 0 BOB BRUNS DIRECTOR 2.00 X 0 0 0 JERRY KING DIRECTOR 2.00 X 0 0 0 JAMES MCCAW DIRECTOR 2.00 X 0 0 0 JAMES MCDANIEL DIRECTOR 2.00 X 0 0 0 MIKE PASTIRIK DIRECTOR 2.00 X 0 0 0 STEVE SMITH DIRECTOR 2.00 X 0 0 0 SCOTT WEAVER DIRECTOR 2.00 X 0 0 0 BRIAN VITTEK DIRECTOR 2.00 X 0 0 0 JAY MURRAY CEO 40.00 X 374671 0 57423 DAVID BREHMER PRESIDENT 40.00 X 384930 0 44836 MARK BROWN CFO 40.00 X 228269 0 49931 FRED EISEL CIO 40.00 X 232870 0 51063 JEFF STONER CHIEF STRATEGY OFFICER 40.00 X 213567 0 49938 RODNEY MAY CHIEF ENGAGEMENT OFFICER 40.00 X 192015 0 47282 LORI GALL CHIEF RISK OFFICER 40.00 X 173712 0 39973 JANICE APPLEBY CHIEF HR OFFICER 40.00 X 160398 0 32710 TIM SUSTAK CHIEF CREDIT OFFICER 40.00 X 146217 0 42460 2106649 0 415616 24 0 1 0 JACK HENRY & ASSOCIATES INC 663 W HIGHWAY 60 MONNETT MO 65708 CORE DATA PROCESSING 656697 FISERV INC PO BOX 99924 GRAPEVINE TX 76099 CORE DATA PROCESSING 485578 ZM FINANCIAL SYSTEMS 501 EASTOWNE DRIVE STE 130 CHAPEL HILL NC 27514 ALM SERVICES 265929 DOEREN MAYHEW & CO 12060 SW 129TH COURT STE 201 MIAMI FL 33186 AUDIT SERVICES 197898 JUNIPER PAYMENTS LLC 200 N BROADWAY STE 700 WICHITA KS 67202 ACH SOFTWARE SERVICES 185368 7 CORRESPONDENT SERVICES 522100 9412797 9412797 FEES/CHARGES/OTHER 522100 2090408 2090408 INCOME ON LOANS 522100 363103 363103 11866308 55391965 55391965 62046700 61892177 154523 154523 154523 67412796 67412796 0 0 X 35000 1423993 4981292 776168 1241623 458329 139509 96912 1818711 79067 332090 504650 452063 263812 320576 34160769 227737 871754 209418 CORRESPONDENT SERVICES 4956926 INTRACOMPANY EXPENSES 1182211 AMORT OF CORE DEPOSIT I 945682 MISCELLANEOUS EXPENSE 242612 127337 55848241 12505545 11433960 1279033865 1546814106 12619102 10234463 3111096 3196322 4213328 18379496 696567 645423 13958579 9287810 5432511 4670769 2438763486 2486263983 35352196 53723664 1435830 490148 37405779 40785208 3830569305 4176637542 43143381 43713821 112385790 510494980 3393863359 3325383534 3549392530 3879592335 X 0 0 0 0 281176775 297045207 281176775 297045207 3830569305 4176637542 X 11564555 4598949 -295072 X X 0 1 X 1 0 790007 790007 4856345 2337255 2519090 90336 85690 4646 8221891 6864865 1357026 4670769 DAILY SHARE ACCOUNTS 2816470229 PSA-30 SHARE ACCOUNTS 34831948 PSA-90 SHARE ACCOUNTS 205901666 HOLIDAY ACCUMULATION ACCOUNT 3880000 CERTIFICATES 255411533 NON-PERPETUAL CAPITAL SHARES 8888158 3325383534 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THEINTERNAL REVENUE CODE AND STATE TAX LAWS. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. MANAGEMENT HAS DETERMINED THAT THE CREDIT UNION HAS NO INCOME DERIVED FROM NON-EXEMPT SOURCES. THEREFORE, NO LIABILITY EXISTS FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE. AS SUCH, THE CREDIT UNION HAS NOT FILED TAX RETURNS FOR REPORTING UBIT-RELATED INCOME. 1 NATIONAL CREDIT UNION FOUNDATION 5710 MINERAL POINT ROAD MADISON WI 53705 391383650 501(C)(3) 30000 DISASTER RELIEF CONTRIBUTION DONATION VICTORY JUNCTION 4500 ADAMS WAY RANDLEMAN NC 27317 562215292 501(C)(3) 5000 CHARITABLE CONTRIBUTION DONATION 2 FORM 990, SCH I, PART I, LINE 2 THE AMOUNTS PAID TO THE ORGANIZATIONS ARE CONSIDERED DONATIONS, NOT GRANTS. SO THERE IS NO MONITORING. SOME DONATIONS ARE EVENT SPONSORSHIP BASED. X X X 0 1 0 JAY MURRAY CEO 366923 0 0 0 7748 0 0 0 57423 0 432094 0 0 0 DAVID BREHMER PRESIDENT 323801 0 18098 0 43031 0 0 0 44836 0 429766 0 0 0 MARK BROWN CFO 213460 0 3668 0 11141 0 0 0 49931 0 278200 0 0 0 FRED EISEL CIO 213460 0 12289 0 7121 0 0 0 51063 0 283933 0 0 0 JEFF STONER CHIEF STRATEGY OFFICER 213060 0 0 0 507 0 0 0 49938 0 263505 0 0 0 RODNEY MAY CHIEF ENGAGEMENT OFFICER 159192 0 31066 0 1757 0 0 0 47282 0 239297 0 0 0 LORI GALL CHIEF RISK OFFICER 171705 0 0 0 2007 0 0 0 39973 0 213685 0 0 0 JANICE APPLEBY CHIEF HR OFFICER 159891 0 0 0 507 0 0 0 32710 0 193108 0 0 0 TIM SUSTAK CHIEF CREDIT OFFICER 145710 0 0 0 507 0 0 0 42460 0 188677 0 0 0 PART I, LINE 4B SEVEN INDIVIDUALS PARTICIPATE IN A 457(F) PLAN. THE ACCRUED LIABILITY RECORDED AS OF DECEMBER 31, 2017 FOR EACH OF THE PARTICIPANTS IS AS FOLLOWS: JAY MURRAY: $125,531 JANICE APPLEBY: $26,382 MARK BROWN: $33,380 LORI GALL: $26,898 FRED EISEL: $33,380 RODNEY MAY: $26,267 JEFFREY STONER: $35,959 DAVID BREHMER CEO TO FUND LIFE INSURANCE POLICY X 3000000 3033651 0 1 1 DAVID BREHMER CEO TO FUND LIFE INSURANCE POLICY X 78068 68143 0 1 1 MARK BROWN SVP/CFO TO FUND LIFE INSURANCE POLICY X 45019 49986 0 1 1 FRED EISEL SVP/CIO TO FUND LIFE INSURANCE POLICY X 39156 44542 0 1 1 3196322 FORM 990, PART VI, SECTION A, LINE 6 MEMBERS ARE MADE UP OF NATURAL PERSON CREDIT UNIONS. MEMBERSHIP IS REQUIRED FOR SERVICE. FORM 990, PART VI, SECTION A, LINE 7A WE HAVE APPROXIMATELY 800 MEMBER-OWNERS WHO ELECT THE BOARD OF DIRECTORS- ONE VOTE PER MEMBER ORGANIZATION. 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. IN ADDITION TO ELECTION OF BOARD MEMBERS, SOME MAJOR DECISIONS SUCH AS MERGING REQUIRE MEMBERSHIP APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B THE CFO IS RESPONSIBLE FOR THE PREPARATION OF THE RETURN. THE RETURN IS REVIEWED BY THE CREDIT UNION'S PRESIDENT. ONCE THIS REVIEW IS COMPLETED AND ANY NECESSARY CORRECTIONS ARE MADE, THE RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 12C AT EACH BOARD OF DIRECTORS MEETING THEY ARE ASKED IF ANY CONFLICTS EXIST AND RECUSALS NECESSARY TO TRANSACT BUSINESS. FORM 990, PART VI, SECTION B, LINE 15 OUTSIDE CONSULTANT REVIEWS POSITIONS BI-ANNUALLY AND PARTICIPATE IN CORPORATE CREDIT UNION SALARY SURVEY ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 24E MAINTENANCE 127,337. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED THROUGH MERGER RECLASSIFICATION ADJUSTMENTS FOR GAINS INCLUDED IN NET INCOME -295,072. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. ATON FINANCIAL MANAGEMENT LLC 1201 FULLING MILL RD MIDDLETON PA 17057 463257955 BALANCE SHEET MANAGEMENT, ALM RISK MODELING, STRATEGIC PLANNING PA VIZO FINANCIAL CORPORATE CREDIT UNION SOLLIEVO GROUP LLC 1201 FULLING MILL RD MIDDLETON PA 17057 262562619 RISK MANAGEMENT, INSURANCE PRODUCTS AND SERVICES PA 1446082 914678 VIZO FINANCIAL CORPORATE CREDIT UNION MYCU SERVICES LLC 1201 FULLING MILL RD MIDDLETON PA 17057 251865944 CREDIT UNION SERVICES PA VIZO FINANCIAL CREDIT UNION RELATED 16010842 16808425 0 1 0.86000 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 MYCU SERVICES LLC H 144200 ACTUAL MYCU SERVICES LLC M 2774230 ACTUAL