2025-11-10T14:21:32-06:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 340153020 THE OHIO EDUCATIONAL CREDIT UNION INC OHIO 2166216296 4141 ROCKSIDE ROAD SUITE 400 SEVEN HILLS OH 44131 SARAH JANKOVIC CFO 2166216296 2025-11-10 0 AUBREY CLEGG P01076395 3052328272 2025-11-10 2024 2025-03-06 01:10:19Z JEROME VALCO 4141 ROCKSIDE ROAD SUITE 400 SEVEN HILLS OH 44131 8736250 0 1990 X WWW.OHECU.COM X 1933 OH THE OHIO EDUCATIONAL CREDIT UNION IS A FULL-SERVICE FINANCIAL INSTITUTION. OUR GOAL IS TO RECOGNIZE AND UNDERSTAND THE UNIQUE NEEDS OF OUR INDIVIDUAL MEMBERS AND TO FULFILL THOSE NEEDS THROUGH A VARIETY OF DIVERSIFIED PRODUCTS AND SERVICES. 8 8 53 8 20516 0 0 0 7243880 7341329 1040241 1394921 0 0 8284121 8736250 0 0 0 0 2920947 3018405 0 0 0 4393472 4682102 7314419 7700507 969702 1035743 147656900 145966644 138967809 136097981 8689091 9868663 BUILDING OUR MEMBER'S FINANCIAL FUTURE THROUGH A FULL RANGE OF SUPERIOR FINANCIAL SERVICES, EDUCATION, AND EXCEPTIONAL VALUE. 0 0 THE CREDIT UNION PROVIDES ITS MEMBERS WITH CONSUMER LOAN PRODUCTS WHICH INCLUDE VEHICLE, SIGNATURE, CREDIT CARD, AND PRIVATE STUDENT LOANS, IN ADDITION TO INDIRECT VEHICLE LEASES. THE CREDIT UNION ALSO OFFERS REAL ESTATE LOANS TO ITS MEMBERS, INCLUDING FIRST MORTGAGE AND HOME EQUITY LINES OF CREDIT. THE CREDIT UNION PROVIDES MEMBERS WITH TRANSACTION SHARE ACCOUNT SERVICES, WHICH INCLUDES SHARE DRAFT CHECKING, SHARE SAVINGS AND MONEY MARKET SHARE ACCOUNTS. TRANSACTION SHARE ACCOUNT PRODUCTS ENABLE MEMBERS TO CONDUCT THEIR DAY TO DAY FINANCIAL NEEDS WITH CONVENIENT SERVICES OF CASH, DIRECT DEPOSIT, CHECKS, ATMS, DEBIT CARDS, ACH, AUDIO RESPONSE, MOBILE AND ONLINE BANKING WITH BILL PAYMENT. THE CREDIT UNION PROVIDES TERM SAVINGS PRODUCTS TO ITS MEMBERS, WHICH INCLUDES IRA AND SHARE CERTIFICATES. CERTIFICATE TERMS RANGE FROM THREE MONTHS TO FIVE YEARS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2120 0 1 53 1 1 1 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X SARAH JANKOVIC CFO 2166216296 4141 ROCKSIDE ROAD SEVEN HILLS OH 44131 TONY H SMITH SR BOARD PRESIDENT 10.00 X 0 0 0 JACKSON M BOYD BOARD VICE PRESIDENT 5.00 X 0 0 0 MARIO DANESE BOARD TREASURER 5.00 X 0 0 0 MYCHAEL HENDERSON BOARD SECRETARY 5.00 X 750 0 0 MARK BATES DIRECTOR 3.00 X 0 0 0 ROBERT W DOLAN DIRECTOR 3.00 X 0 0 0 MELODY PATTERSON DIRECTOR 3.00 X 0 0 0 PATRICK J POLEN DIRECTOR 3.00 X 0 0 0 JEROME R VALCO CEO 40.00 X 190899 0 36897 SARAH L JANKOVIC CFO 40.00 X 116166 0 29970 ANTHONY TOY CHIEF RETAIL SERVICES OFFI 40.00 X 131036 0 7762 438851 0 74629 3 0 1 0 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT & DEBIT CARD PROCESSING 465838 CREDIT UNION LEASING OF AMERICA 9665 GRANITE RIDGE RD SAN DIEGO CA 92123 CU AUTO LEASING PROGRAM ADMINISTRATOR 460022 FISERV INC PO BOX 745148 ATLANTA GA 30374 CORE COMPUTER PROCESSOR PROVIDER 385333 STARFISH COMPUTER CORP 24831 LORAIN ROAD NORTH OLMSTED OH 44070 INFORMATION TECHNOLOGY CONSUTLING AND IM 322102 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 ONLINE/MOBILE BANKING PROVIDER 274683 7 LOAN INTEREST 522100 5176349 5176349 FEE INCOME 522100 2144464 2144464 FINANCE AND INSURANCE 520000 20516 20516 7341329 1387921 1387921 7000 0 7000 7000 7000 8736250 7327813 20516 1387921 X 513480 1830874 76742 414408 182901 6667 74424 49256 319134 550235 15097 5985 606192 38631 178195 43106 DATA PROCESSING 2116728 LOAN SERVICING 341102 MAINTENANCE 118186 MISCELLANEOUS 90694 128470 7700507 1630322 1674951 8811037 8165902 392700 386951 97892225 99673112 516862 522693 2870001 2195516 680562 674485 30166553 26636902 2732960 3482960 4833679 4748688 147656900 145966644 3569540 3378130 135398269 132719851 138967809 136097981 X 0 0 0 0 8689091 9868663 8689091 9868663 147656900 145966644 1035743 143829 0 X X 0 1 X 1 0 853520 478244 375276 2016481 1717272 299209 674485 REGULAR SHARES/CLUB ACCOUNTS 71069548 MONEY MARKET ACCOUNTS 10968856 SHARE DRAFT ACCOUNTS 33925910 IRA ACCOUNTS 1211245 SHARE AND IRA CERTIFICATES 15544292 132719851 X 8736250 0 8736250 0 8736250 7700507 0 7700507 0 7700507 PART X, LINE 2: INCOME TAXES THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. 1 X X X 0 0 0 JEROME R VALCO CEO 181098 0 0 0 9801 0 9550 0 27347 0 227796 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE, WHICH IS A SUBSET OF THE BOARD OF DIRECTORS, HAS AUTHORITY FROM THE FULL BOARD OF DIRECTORS TO ACT ON MATTERS REQUIRING PROMPT ACTION OR ATTENTION PRIOR TO THE NEXT SCHEDULED MEETING OF THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 6 ANY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS CONSIDERED A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A EACH QUALIFYING MEMBER IS GIVEN ONE VOTE TO ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY AT THE ANNUAL MEETING. THAT IS, AN INDIVIDUAL CAN HAVE AN ACCOUNT TO MEET THE DEFINITION OF A MEMBER; HOWEVER, A MEMBER MUST BE IN "GOOD STANDING" TO QUALIFY AS A VOTING MEMBER. IF A MEMBER'S BASE SHARE ACCOUNT HAS LESS THAN $5 OR THEIR LOAN IS PAST DUE, THEN THE MEMBER IS NOT CONSIDERED TO BE IN GOOD STANDING AND DOES NOT MEET THE QUALIFICATIONS TO HAVE A VOTE. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE ARTICLES AND/OR BYLAWS OF THE CREDIT UNION REQUIRE APPROVAL OF THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE CFO REVIEWS THE DRAFT FORM 990 AS PREPARED BY THE CPA FIRM FOR ACCURACY. A COPY OF FORM 990 WILL BE PROVIDED TO THE BOARD OF DIRECTORS (GOVERNING BODY) PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE VIA THE CREDIT UNION'S ELECTRONIC BOARDROOM SITE. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL CONFLICT OF INTEREST QUESTIONNAIRES ARE COMPLETED BY DIRECTORS AND KEY OFFICERS OF THE ORGANIZATION TO IDENTIFY ANY POSSIBLE CONFLICTS OF INTEREST. AT THE BEGINNING OF EACH MONTHLY BOARD OF DIRECTOR MEETING, DIRECTORS ARE REQUESTED TO DISCLOSE ANY CONFLICTS OF INTEREST WITH THE AGENDA ITEMS FOR THAT RESPECTIVE BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15 INDEPENDENT COMPENSATION SURVEY DATA IS OBTAINED FOR EACH POSITION. BOARD PERSONNEL COMMITTEE USES THIS INFORMATION IN CONJUNCTION WITH JOB PERFORMANCE RATINGS TO DETERMINE THE COMPENSATION FOR THE CEO. THE CEO PROVIDES INPUT FOR CFO AND CRO COMPENSATION. 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. FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 24E TRAINING 57,920. PROVISION FOR LOAN LOSSES 51,032. DEBIT AND CREDIT CARD EXPENSES 19,518. FORM 990; PART XII, LINE 2C: WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.