VELOCITY CREDIT UNION: Form 990, tax year 2017
View the entire original 990 at ProPublica ↗
- Organization
- VELOCITY CREDIT UNION (EIN 74-1200165)
- Tax period
- 2017-01-01 to 2017-12-31
- Filed
- 2018-05-14
- IRS object ID
- 201811349349302166
- Schema version
- 2017v2.2
- 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 | 2018-05-14T09:26:28-05:00 | ReturnTs |
| Tax Period End | 2017-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 410746749 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 E THOMAS RD STE 2300 | AddressLine1Txt |
| City | PHOENIX | CityNm |
| State Abbreviation | AZ | StateAbbreviationCd |
| ZIP | 85012 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2017-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 741200165 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VELOCITY CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | VELO | BusinessNameControlTxt |
| Phone | 5124697000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | POST OFFICE BOX 1089 | AddressLine1Txt |
| City | AUSTIN | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 787671089 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | LISA BACK | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 5124697000 | PhoneNum |
| Signature | 2018-05-09 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | LISA ADAMS | PreparerPersonNm |
| PTIN | P00854368 | PTIN |
| Phone | 6022662248 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2017 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | LISA BACK | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | POST OFFICE BOX 1089 | AddressLine1Txt |
| City | AUSTIN | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 787671089 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $49,707,730 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.VELOCITYCU.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1947 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE THE BEST PROGRAMS TO MEET THE FINANCIAL NEEDS OF OUR MEMBERS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 282 | TotalEmployeeCnt |
| Total Volunteers | 7 | TotalVolunteersCnt |
| Total Gross UBI | $124,219 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | -$89,914 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $45,588,557 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $47,189,170 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,735,711 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,445,761 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $47,324,268 | PYTotalRevenueAmt |
| CY Total Revenue | $49,634,931 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $13,934,054 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $14,607,177 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $25,288,874 | PYOtherExpensesAmt |
| CY Other Expenses | $39,816,135 | CYOtherExpensesAmt |
| PY Total Expenses | $39,222,928 | PYTotalExpensesAmt |
| CY Total Expenses | $54,423,312 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $8,101,340 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$4,788,381 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $843,913,671 | TotalAssetsBOYAmt |
| Total Assets EOY | $863,230,758 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $750,094,137 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $771,449,427 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $93,819,534 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $91,781,331 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | VELOCITY CREDIT UNION IS A FINANCIAL INSTITUTION FORMED BY AN ORGANIZED GROUP OF PEOPLE WITH A COMMON BOND. MEMBERS OF THE CREDIT UNION POOL THEIR ASSETS TO PROVIDE LOANS AND OTHER FINANCIAL SERVICES TO EACH OTHER. THESE FACTORS ALLOW US TO PAY DIVIDENDS TO OUR MEMBERS AND OFFER OUR MEMBERS LOWER LOAN RATES, HIGHER SAVINGS RATES AND FEWER SERVICE FEES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | VELOCITY CREDIT UNION PROVIDES LOANS TO MEMBERS AT LOWER INTEREST RATES, ACCEPTS DEPOSITS, AND PAYS HIGHER DIVIDEND RATES. 2017: 1) 38,597 LOANS TO MEMBERS AND MEMBER BUSINESSES FOR A TOTAL OF $657MM 2) ORIGINATED 10,965 LOANS IN 2017 WITH A BALANCE OF $267MM, AND 3) SERVICED 86,825 MEMBERS WITH DEPOSITS OF $701MM. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | 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 | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | 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 | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| 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 | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 14258 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 282 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| 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 |
| 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 | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| 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 | LISA BACK | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5124697000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 610 E 11TH STREET | AddressLine1Txt |
| City | AUSTIN | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78701 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|
| CARL LYNCH | ||||||||
| CHAIRPERSON | 2.00 | Yes (X) | $1,112 | $0 | $0 | |||
| THOMAS MATTHEWS | ||||||||
| 1ST VICE CHAIR | 2.00 | Yes (X) | $2,548 | $0 | $0 | |||
| JAMES CHAPMAN | ||||||||
| 2ND VICE CHAIR | 2.00 | Yes (X) | $5,448 | $0 | $0 | |||
| JOHN CHOMOUT | ||||||||
| SECRETARY/TREASURER | 2.00 | Yes (X) | $1,242 | $0 | $0 | |||
| MARY PAREDES | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $1,298 | $0 | $0 | |||
| JOHN ROSS | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $358 | $0 | $0 | |||
| KASHA BARTHOLOMEW | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $272 | $0 | $0 | |||
| DEBBIE MITCHELL | ||||||||
| PRESIDENT/CEO | 40.00 | $406,488 | $0 | $18,516 | Yes (X) | |||
| LISA BACK | ||||||||
| CFO | 40.00 | $227,593 | $0 | $16,314 | Yes (X) | |||
| JACK JORDAN | ||||||||
| COO | 40.00 | $224,502 | $0 | $30,765 | Yes (X) | |||
| CHERI HALL | ||||||||
| SR. VICE-PRES. HUMAN RESOU | 40.00 | $154,852 | $0 | $13,726 | Yes (X) | |||
| CAROL CAIN | ||||||||
| SR. VICE-PRES. MARKETING | 40.00 | $154,857 | $0 | $13,726 | Yes (X) | |||
| DANIEL PENBERG | ||||||||
| SR. VP I.T. | 40.00 | $138,489 | $0 | $18,839 | Yes (X) | |||
| FELIX GONZALEZ | ||||||||
| SR. VP LENDING | 40.00 | $173,911 | $0 | $26,815 | Yes (X) | |||
| JOSE LUIS BARALT | ||||||||
| SR. VP RETAIL DELIVERY | 40.00 | $131,640 | $0 | $27,113 | Yes (X) | |||
| JOHN PAUL SAYERS | ||||||||
| FORMER SR. VICE-PRES. IT | 40.00 | $117,166 | $0 | $6,480 | Yes (X) | |||
| LINDSEY PUTMAN | ||||||||
| FORMER SR. VICE-PRES. RISK MANAGE | 40.00 | $210,114 | $0 | $4,320 | Yes (X) | |||
| CHERYL BLANCO | ||||||||
| FORMER SR. VICE-PRES. BRANCH SERV | 40.00 | $104,270 | $0 | $8,512 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,056,160 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $185,126 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 14 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | 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 |
|---|---|---|---|---|---|
| FIS | |||||
| PO BOX 4535 | CAROL STREAM | IL | 60197 | CARD SERVICES VENDOR | $2,282,418 |
| MASTERCARD | |||||
| PO BOX 31279 | TAMPA | FL | 33631 | CARD ISSUER | $1,092,505 |
| Q2 SOFTWARE | |||||
| PO BOX 205970 | DALLAS | TX | 753205970 | ONLINE BANKING SOFTWARE | $779,904 |
| MAXWELL DODGE | |||||
| PO BOX 203685 | AUSTIN | TX | 78720 | INDIRECT AUTO DEALER | $719,564 |
| SOUTH POINT HYUNDAI | |||||
| 4610 S IH 35 | AUSTIN | TX | 78745 | INDIRECT AUTO DEALER | $465,844 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 40 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST | 522100 | $34,059,228 | $34,059,228 | |
| FEE INCOME | 522100 | $12,180,957 | $12,180,957 | |
| OTHER OPERATING INCOME | 522100 | $824,766 | $824,766 | |
| FEE INCOME | 522100 | $124,219 | $124,219 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $47,189,170 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,494,610 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,494,610 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,492 | SecuritiesAmt |
| Other | $22,458 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $72,799 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,492 | SecuritiesAmt |
| Other | -$50,341 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$48,849 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$48,849 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $49,634,931 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $49,510,712 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $124,219 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,243,295 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,567,363 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,742,279 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,260,267 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $793,973 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $167,858 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $115,902 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,007,059 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $710,976 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,224,873 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,039,911 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $206,895 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,632,899 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $838,645 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $170,139 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR LOSSES | $23,063,549 |
| MEMBER DEMAND DEPOSIT S | $2,967,950 |
| LOAN SERVICING | $1,223,561 |
| MISCELLANEOUS EXPENSE | $315,284 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $130,634 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $54,423,312 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,611,372 | BOYAmt |
| EOY | $6,180,755 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $55,286,019 | BOYAmt |
| EOY | $109,027,090 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $411,358 | BOYAmt |
| EOY | $946,701 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,134,813 | BOYAmt |
| EOY | $3,205,033 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $669,198,321 | BOYAmt |
| EOY | $638,447,985 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,027,431 | BOYAmt |
| EOY | $1,005,576 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $24,803,547 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $12,605,773 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,832,582 | BOYAmt |
| EOY | $12,197,774 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $72,440,166 | BOYAmt |
| EOY | $67,820,034 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,971,609 | BOYAmt |
| EOY | $24,399,810 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $843,913,671 | BOYAmt |
| EOY | $863,230,758 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,767,830 | BOYAmt |
| EOY | $4,781,937 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $539,819 | BOYAmt |
| EOY | $457,747 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $55,000,000 | BOYAmt |
| EOY | $65,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $689,786,488 | BOYAmt |
| EOY | $701,209,743 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $750,094,137 | BOYAmt |
| EOY | $771,449,427 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
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 | $93,819,534 | BOYAmt |
| EOY | $91,781,331 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $93,819,534 | BOYAmt |
| EOY | $91,781,331 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $843,913,671 | BOYAmt |
| EOY | $863,230,758 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$4,788,381 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $38,783 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $2,711,395 | 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 | 0 | FSAuditedInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,530,055 | OtherCostOrOtherBasisAmt |
| Book Value | $6,530,055 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $11,540,053 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,697,749 | DepreciationAmt |
| Book Value | $4,842,304 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $568,923 | OtherCostOrOtherBasisAmt |
| Depreciation | $568,923 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,164,516 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,339,101 | DepreciationAmt |
| Book Value | $825,415 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $12,197,774 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (3 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| SUPPLEMENTAL EXECUTIVE RETIREMENT P | $4,578,467 | C |
| FEDERAL HOME LOAN BANK STOCK | $5,138,200 | C |
| AFS OTHER SECURITIES, NET | $58,103,367 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $67,820,034 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (6 entries)
| DescDesc | AmtAmt |
|---|---|
| REGULAR SHARES | $194,525,428 |
| SHARE DRAFTS | $164,056,367 |
| MONEY MARKET SHARE DRAFTS | $162,981,905 |
| IRA ACCOUNTS | $40,319,527 |
| SHARE CERTIFICATES | $125,770,551 |
| OTHER SHARES | $13,555,965 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $701,209,743 | TotalLiabilityAmt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (11 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DEBBIE MITCHELL | ||||||||||||||
| PRESIDENT/CEO | $404,479 | $0 | $0 | $0 | $2,009 | $0 | $10,800 | $0 | $7,716 | $0 | $425,004 | $0 | $0 | $0 |
| LISA BACK | ||||||||||||||
| CFO | $227,593 | $0 | $0 | $0 | $0 | $0 | $8,598 | $0 | $7,716 | $0 | $243,907 | $0 | $0 | $0 |
| JACK JORDAN | ||||||||||||||
| COO | $224,502 | $0 | $0 | $0 | $0 | $0 | $8,416 | $0 | $22,349 | $0 | $255,267 | $0 | $0 | $0 |
| CHERI HALL | ||||||||||||||
| SR. VICE-PRES. HUMAN RESOU | $154,852 | $0 | $0 | $0 | $0 | $0 | $6,010 | $0 | $7,716 | $0 | $168,578 | $0 | $0 | $0 |
| CAROL CAIN | ||||||||||||||
| SR. VICE-PRES. MARKETING | $154,857 | $0 | $0 | $0 | $0 | $0 | $6,010 | $0 | $7,716 | $0 | $168,583 | $0 | $0 | $0 |
| DANIEL PENBERG | ||||||||||||||
| SR. VP I.T. | $138,489 | $0 | $0 | $0 | $0 | $0 | $5,370 | $0 | $13,469 | $0 | $157,328 | $0 | $0 | $0 |
| FELIX GONZALEZ | ||||||||||||||
| SR. VP LENDING | $173,911 | $0 | $0 | $0 | $0 | $0 | $4,966 | $0 | $21,849 | $0 | $200,726 | $0 | $0 | $0 |
| JOSE LUIS BARALT | ||||||||||||||
| SR. VP RETAIL DELIVERY | $131,640 | $0 | $0 | $0 | $0 | $0 | $5,264 | $0 | $21,849 | $0 | $158,753 | $0 | $0 | $0 |
| JOHN PAUL SAYERS | ||||||||||||||
| FORMER SR. VICE-PRES. IT | $117,166 | $0 | $0 | $0 | $0 | $0 | $2,880 | $0 | $3,600 | $0 | $123,646 | $0 | $0 | $0 |
| LINDSEY PUTMAN | ||||||||||||||
| FORMER SR. VICE-PRES. RISK MANAGE | $210,114 | $0 | $0 | $0 | $0 | $0 | $785 | $0 | $3,535 | $0 | $214,434 | $0 | $0 | $0 |
| CHERYL BLANCO | ||||||||||||||
| FORMER SR. VICE-PRES. BRANCH SERV | $104,270 | $0 | $0 | $0 | $0 | $0 | $2,554 | $0 | $5,958 | $0 | $112,782 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINES 4A-B | FormAndLineReferenceDesc |
| Explanation | JOE PUTMAN - SEVERANCE PAYMENT - $186,549.90; JOHN PAUL SAYERS - SEVERANCE PAYMENT - $42,546.46; CHERYL BLANCO - SEVERANCE PAYMENT - $34,579.54; DEBORAH MITCHELL, LISA BACK AND JACK JORDAN PARTICIPATE IN A A NONQUALIFIED RETIREMENT PLAN. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (2 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| LISA BACK | |||||||
| CHIEF FINANCIAL OFFICER | SPLIT DOLLAR INSURANCE | Yes (X) | $1,400,000 | $1,447,434 | 0 | Yes (1) | Yes (1) |
| JACK JORDON | |||||||
| CHIEF OPERATING OFFICER | SPLIT DOLLAR INSURANCE | Yes (X) | $1,700,000 | $1,757,599 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $3,205,033 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZATION HAS MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERSHIP. |
| FORM 990, PART VI, SECTION A, LINE 7B | CERTAIN DECISIONS MUST BE APPROVED BY THE MEMBERSHIP. FOR EXAMPLE, THE MEMBERSHIP MUST VOTE ON 1) CHARTER CONVERSIONS (STATE TO FEDERAL AND/OR CONVERSION FROM A CREDIT UNION TO A BANK); 2) CHANGES IN DEPOSIT INSURANCE; 3) BOARD ELECTIONS WHEN THERE IS MORE THAN ONE CANDIDATE PRESENTED FOR EACH POSITION; 4) MERGERS WHEN THE CU WOULD BE THE ACQUIRED CREDIT UNION. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE CEO AND CFO WILL REVIEW THE FORM 990 WITH THE BOARD OF DIRECTORS. THE REVIEW WILL BE DOCUMENTED IN THE MEETING MINUTES. |
| FORM 990, PART VI, SECTION B, LINE 12C | DIRECTORS SIGN AN OATH OF OFFICE WHEN ELECTED OR RE-ELECTED TO OFFICE WHICH ADDRESSES CONFLICTS OF INTEREST. IN ADDITION, ALL DIRECTORS AND EMPLOYEES ARE REQUIRED TO REVIEW AND SIGN OUR CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS IN ORDER TO ENSURE THEY ARE AWARE OF THEIR RESPONSIBILITIES REGARDING DISCLOSURE. THE CONFLICT OF INTEREST POLICY REQUIRES DISCLOSURE OF ANY INTERESTS THAT COULD GIVE RISE TO CONFLICTS. |
| FORM 990, PART VI, SECTION B, LINE 15 | IN ORDER TO DETERMINE THE CEO'S SALARY, THE BOARD OF DIRECTORS WILL REVIEW COMPENSATION DATA PROVIDED BY THE SR. VP OF HUMAN RESOURCES AND OBTAINED FROM CUNA (CREDIT UNION NATIONAL ASSOCIATION), CUES (CREDIT UNION EXECUTIVES SOCIETY), CORNERSTONE CREDIT UNION LEAGUE, COMPEASE SALARY ADMINISTRATION AND OTHER VARIOUS SOURCES AS AVAILABLE AT LEAST EVERY OTHER YEAR. THE SALARY IS SET BASED UPON A REVIEW OF WHAT CREDIT UNION CEOS IN THE ORGANIZATION'S REGION, AND ACROSS THE COUNTRY, WITH SIMILAR ASSET SIZE WERE PAID IN THE PREVIOUS YEAR. THE BOARD OF DIRECTORS ALSO COMPARES THE CEO'S SALARY WITH THE CURRENT PARAMETERS SET WITHIN OUR SALARY ADMINISTRATION GUIDELINES. TO DETERMINE KEY EMPLOYEES' SALARIES, THE CEO IN CONJUNCTION WITH THE SR. VP OF HUMAN RESOURCES, UTILIZE THE COMPEASE SALARY ADMINISTRATION PROGRAM. |
| FORM 990, PART VI, SECTION C, LINE 19 | UNAUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE BY POSTING AT EACH BRANCH. THE ANNUAL REPORT IS PROVIDED TO ALL MEMBERS AT THE CREDIT UNION'S ANNUAL MEETING AND UPON REQUEST THROUGHOUT THE YEAR. THE ANNUAL REPORT IS ALSO AVAILABLE ON THE ORGANIZATION'S WEBSITE. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY WOULD BE RELEASED TO MEMBERS UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | CHANGE IN PRIOR SERVICE COST RESERVE ACCOUNT 2,717,301. CHANGE IN SERP OCI -5,906. |
| FORM 990, PART XII, QUESTION 2B: | THE ORGANIZATION'S FINANCIAL STATEMENTS WERE AUDITED BY AN INDEPENDENT ACCOUNTANT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2017. THE ORGANIZATION DID NOT OBTAIN AUDITED FINANCIAL STATEMENTS FOR THE TAX YEAR. |