2018-11-15T14:31:06-06:00 2017-12-31 350921680 CROWE LLP 9600 Brownsboro Road Suite 400 Louisville KY 402411122 990 2017-01-01 610654642 Park Community Credit Union Inc PARK 5028156014 2515 Blankenbaker Parkway LOUISVILLE KY 40299 James Spradlin CEO 2018-11-15 true Kim Scifres P01316095 5023263996 2017 2019-02-21 02:37:17Z James Spradlin 2515 Blankenbaker Parkway LOUISVILLE KY 40299 44325301 false X www.parkcommunity.com X 2013 KY Park Community Credit Union (the "Credit Union" or "Park") is a state chartered cooperative association organized for the purpose of promoting thrift among, and creating a source of credit for its members. 7 7 344 12 326917 1317384 0 40440922 43449632 3289852 875669 0 43730774 44325301 7000 0 14638981 16732469 0 0 23985912 21569747 38624893 38309216 5105881 6016085 799308004 896145189 727621313 819332024 71686691 76813165 Park Community Credit Union (the "Credit Union" or "Park") is a state chartered cooperative association organized for the purpose of promoting thrift among, and creating a source of credit for its members. false false PARK COMMUNITY CREDIT UNION (THE "CREDIT UNION" OR "PARK") IS A STATE CHARTERED COOPERATIVE ASSOCIATION ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AMONG, AND CREATING A SOURCE OF CREDIT FOR, ITS MEMBERS. THE CREDIT UNION PROVIDES MORTGAGE, VEHICLE AND OTHER CONSUMER LOANS TO ITS MEMBERSHIP. THE CREDIT UNION ALSO OFFERS A VARIETY OF ACCOUNTS FOR MEMBERS TO TRANSACT AND SAVE, INCLUDING SHARE AND SHARE DRAFT ACCOUNTS AND SHARE CERTIFICATES. AS A MEMBER-OWNED ORGANIZATION, THE CREDIT UNION STRIVES TO PROVIDE COMPETIVE INTEREST AND DIVIDEND RATES TO ITS MEMBERSHIP AND CONVENIENCE WAYS FOR MEMBERS TO THEIR ACCOUNTS, INCLUDING ONLINE AND MOBILE BANKING AND SHARED BRANCHING SERVICES. 0 false false false false false false false true false true false false true true false true false false false false false false false false false false false false true false false false false false false false false false false false false false false true 114 0 true 344 true true true false false false false false X 7 7 false false false false true true false true true false true true true true true true true true true true false KY X Melissa McGill 5029683681 2515 Blankenbaker Parkway Louisville KY 40299 Mark Loyd Chairman 1.0 X X 0 0 0 Thomas Hendrix 1st Vice Chairman 1.0 X X 0 0 0 Phyllis Hughes 2nd Vice Chairman 1.0 X X 0 0 0 Bobby Willoughby Secretary/Treasurer 1.0 X X 0 0 0 Penny Gold Director 1.0 X 0 0 0 Dennis Munn Director 1.0 X 0 0 0 Joseph Ackerman Director 1.0 X 0 0 0 James Spradlin President/CEO 40.0 X 385285 0 66424 David Shadburne Executive Vice President 40.0 X 210105 0 42377 Sandra Gogan SVP of Retail Operations 40.0 X 177421 0 78358 James Perkins SVP of Information Technology 40.0 X 143736 0 5743 Lisa Bannon Chief Operations Officer 40.0 X 141569 0 40062 Sharon Williams SVP of HR & Organizational Development 40.0 X 139453 0 7918 Carolyn Riggs VP of Marketing & Business Development 40.0 X 129427 0 9670 Melissa McGill VP OF FINANCE 40.0 X 124137 0 9901 Julia Blackwell-Aguilar VP of Lending 40.0 X 115345 0 0 Steve Loftis VP of Facilities 40.0 X 109537 0 0 Jeff Thornton VP of Electronic Services 40.0 X 96835 0 0 Donna Baugh AVP of Retail Operations 40.0 X 104851 0 0 Greg Smith Financial Planning Manager X 104325 0 0 1982026 0 260453 12 false true false QSI INC 107 SCHULAR DR BARDSTOWN KY 40004 SECURITY/VARIOUS OTHER 779569 SHI INTERNATIONAL CORP PO BOX 952121 DALLAS TX 75395 SOFTWARE/HARDWARE SERVICES 701289 INTERCONTINENTAL - VSA 5901 BROKENS SOUND PARKWAY SUITE 400 BOCA RATON FL 33487 WARRANTY SALES 517723 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 CORE PROCESSING SERVICES 484125 WINDSTREAM COMMUNICATIONS PO BOX 90001950 LOUISVILLE KY 40290 COMMUNICATION SERVICES 396972 25 0 Interest on loans 522291 29790709 29790709 Fees and service charges 522190 12454109 12454109 ATM SURCHARGE/WARRANTIES/LIFE INSURANCE 522100 326917 326917 Credit Union owned life insurance 524113 519081 519081 NET SALES OF LOANS 522291 358816 358816 0 0 0 0 43449632 875669 875669 0 0 0 0 0 0 0 0 0 44325301 43122715 326917 875669 7000 2104423 11792220 827728 1017265 990833 24212 82786 40375 410942 0 0 0 997001 3778426 1011392 2647986 73174 215740 4759688 2073267 Provision for Loan Loss 2239200 Loan Servicing Expenses 2722773 Bad Debt Expense 225305 Dues and Subscriptions 207005 60475 0 0 0 38309216 0 0 0 16051243 13360486 33145457 32406717 2751232 3050591 0 0 0 638965110 692080440 679808 813703 48547640 16038622 33652390 32509018 34795139 28135574 392275 350169 10379537 11248041 1180628 819888 27315185 81370562 799308004 896145189 6074445 6856551 376574 421870 854487 1103590 0 75149399 720315807 735800614 727621313 819332024 X 71686691 76813165 71686691 76813165 799308004 896145189 X 6016085 -26015 -863596 X false true X true false false true X 10761979 10761979 22154833 5520311 16634522 742359 240556 501803 7823383 6703954 1119429 7065086 3573801 3491285 32509018 Loans Held for Sale 55091926 Prepaid Pension Plan Funding 3455106 Deferred Compensation Plans 1663996 Investments for Benefits Prefunding 19940886 OREO 126813 Repossessed Assets 1043855 Inventory 49055 Receivable Clearing -1075 81370562 Other Liabilities 6447167 Member share and savings accounts 729353447 735800614 44325301 0 0 44325301 0 0 44325301 38309216 0 0 38309216 0 0 38309216 Schedule D, Part IV, Line 2b Explanation of escrow agreement Park's escrow account consist of mortgage payments that consist of taxes and insurance that is included as payment for our mortgage loans. The taxes and insurance payments are held in the escrow account and then made on behalf of the members at the due date of the taxes and the insurance, respectively. X true true X X X X false true false James Spradlin President/CEO 365054 0 0 0 20231 0 56920 0 9504 0 451709 0 0 0 David Shadburne Executive Vice President 191197 0 0 0 18908 0 21264 0 21113 0 252482 0 0 0 Sandra Gogan SVP of Retail Operations 139943 0 0 0 37478 0 69756 0 8602 0 255779 0 0 0 Lisa Bannon Chief Operations Officer 125371 0 0 0 16198 0 18768 0 21294 0 181631 0 0 0 Schedule J, Part I, Line 1a Travel for companions PERSON WHO RECEIVED THE BENEFIT: WILLIAM HUGHES, HUSBAND OF PHYLLIS HUGHES (BOARD MEMBER) TYPE OF BENEFIT: TRAVEL TO CONFERENCE Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation Compensation Committee utilizes information from Compease Salary Administration Plan and Mercer, Inc engagement for Executive Compensation review. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan James Spradlin 457f Plan - Contract for retention; Investment made, CEO will be paid the earning from the investment if he works to December 31, 2024. Benefit will be payable no later than February 28, 2025. Estimated earnings payable is $1.6 million at time of initial investment. David Shadburne Split Dollar Plan - Contract for retention; Initial loan of $750,000. Policy written with a death benefit and an annual payout beginning at age 65 of approx $30K annually. Form 990, Part VI, Line 6 Classes of members or stockholders The organization has members who have the right to participate in the organization's governance. Members of the organization have the right to elect the 7 members of the governing body/ board of directors, serving 3 year terms. The organization does not have classes of membership. All members have one share of the credit union and are entitled to one vote. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body See Form 990, Part VI, Line 6 narrative. Form 990, Part VI, Line 11b Review of form 990 by governing body The preparation of the Form 990 is led by the Vice President of Finance and coordinated with other senior leadership individuals within the credit union. Once the Form 990 is prepared, it is reviewed by the Executive Vice President and Chief Executive Officer of the credit union. The Board of Directors are provided a copy of the Form 990 prior to filing. Form 990, Part VI, Line 12c Conflict of interest policy THE CREDIT UNION'S CONFLICT OF INTEREST POLICY APPLIES TO ALL DIRECTORS, MANAGEMENT OFFICIALS AND HIGHEST PAID EMPLOYEES. CONFLICTS OF INTEREST QUESTIONNAIRES WERE SENT TO ALL INTERESTED PERSONS TO IDENTIFY POTENTIAL OR ACTUAL CONFLICTS OF INTEREST. THE COMPLIANCE DIRECTOR REVIEWS THE COMPLETED QUESTIONNAIRES TO DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS. IF A PARTICULAR DIRECTOR HAS A CONFLICT OF INTEREST, THAT DIRECTOR WOULD NOT BE PERMITTED TO VOTE ON A TOPIC RELATED TO THE CONFLICT. Form 990, Part VI, Line 15a Process to establish compensation of top management official The salary plan used by the credit union for the top management official utilizes market salary data and job grade ranges. The credit union's compensation committee reviews and approves the compensation of the chief executive officer and documents deliberations and decision making regarding this compensation in the minutes of the compensation committee meeting. The compensation plan is updated annually through the use of a third party vendor to ensure it remains current. The last update was October 2017. Form 990, Part VI, Line 15b Process to establish compensation of other employees The salary plan used by the credit union for all positions, including all officers and key employees, utilizes market salary and job grade ranges. The Compensation plan is updated annually through the use of a third Party vendor to ensure it remains current. The compensation committee reviews and approves the plan. The last update was October 2017. Form 990, Part VI, Line 19 Required documents available to the public If a credit union's conflict of interest policy or governing document is specifically requested by a member, the member would be allowed to review the policy or document. Financial information for the credit union is available through the National Credit Union Administration's website and is posted in the offices of the credit union. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Other Comprehensive Income for Defined Benefit Pension Plans - -863596;