2018-06-26T10:18:54-05:00 2017-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2017-01-01 751084210 FIRST BASIN CREDIT UNION FIRS 4323335600 2740 NORTH COUNTY ROAD WEST ODESSA TX 79764 SHEM CULPEPPER CEO 4323335600 2018-06-22 1 ROBIN D HOAG CPA P00360662 2482443000 2017 2022-09-23 18:48:47Z SHEM CULPEPPER 2740 NORTH COUNTY ROAD WEST ODESSA TX 79764 14406310 0 X WWW.FIRSTBASIN.COM X 1965 TX VOLUNTARY, COOPERATIVE, NOT-FOR-PROFIT SAVINGS INSTITUTION (CREDIT UNION) INCORPORATED UNDER THE PROVISIONS OF THE TEXAS CREDIT UNION ACT, FOR THE PURPOSE OF ENCOURAGING THRIFT AMONG MEMBERS, PROVIDING CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST AND PROVIDING AN OPPORTUNITY TO IMPROVE A MEMBER'S ECONOMIC CONDITION. 6 5 113 6 90868 30845 0 0 11477953 14118351 241682 197091 91654 90868 11811289 14406310 0 0 0 0 5208615 5736028 0 0 0 5491774 6550192 10700389 12286220 1110900 2120090 203527316 248258677 182626451 225220222 20900865 23038455 THE PURPOSE OF THE CREDIT UNION IS TO ENCOURAGE THRIFT AMONG MEMBERS, PROVIDE CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST AND PROVIDE AN OPPORTUNITY TO IMPROVE THE MEMBER'S ECONOMIC CONDITION. 0 0 LOANS TO MEMBERS DEPOSIT ACCOUNTS CARD SERVICES 0 0 0 0 0 0 0 1 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 3276 0 1 113 1 1 1 0 0 0 0 0 X 6 5 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X ANA GONZALEZ 4324386013 2740 NORTH COUNTY ROAD WEST ODESSA TX 79764 SHEM CULPEPPER CEO/BOARD MEMBER 40.00 X X 319731 0 12917 JULIAN BESERIL CHAIRPERSON 0.50 X 5600 0 0 SAMUEL GONZALEZ TREASURER 0.50 X 5600 0 0 GARY WINDHAM SECRETARY 0.50 X 5200 0 0 REBECCA MARLER BOARD MEMBER 0.50 X 5200 0 0 STEVE COMPTON BOARD MEMBER 0.50 X 5200 0 0 JOHN CODY KIDD VP OF LENDING 40.00 X 166408 0 10725 TIM O'REILLY VP OF MARKETING 40.00 X 151690 0 8438 BRADLEY STILLWELL VP OF IT 40.00 X 112515 0 7954 JULIA TARIN VP OF BRANCH OPERATIONS 40.00 X 101649 0 348 878793 0 40382 5 0 1 0 JACK HENRY AND ASSOCIATES PO BOX 609 MONETT MO 65708 CORE SYSTEM PROVIDER 217678 LANVERA LTD 112 WRANGLER DR 150 COPPELL TX 75019 STATEMENT PROVIDER 151625 MIKO MEDIA 8200 LAMMTARRA CIRCLE FAIR OAKS RANCH TX 78015 ADVERTISING FIRM 137000 AT&T PO BOX 5019 CAROL STREAM IL 60197 COMMUNICATIONS 119840 4 LOAN INCOME 522100 9654117 9654117 FEE INCOME 522100 4464234 4464234 14118351 197091 197091 ATM INCOME 525990 90868 90868 90868 14406310 14118351 90868 197091 X 359448 4260259 91833 734314 290174 54034 67701 477931 702465 1110226 285375 2026 70925 867510 43334 432945 74192 UNRELATED BUSINESS INCO 4627 PROVISION FOR LOAN LOSS 1512480 MAINTENANCE 354259 LOAN SERVICING EXPENSES 272019 218143 12286220 4427784 3260314 23781046 19417174 389345 337144 153886027 212626494 302087 378078 9175986 2370749 6868721 6805237 9982500 86400 823700 3803406 4610536 203527316 248258677 2553303 4143941 18000000 180073148 203076281 182626451 225220222 X 0 0 0 0 20900865 23038455 20900865 23038455 203527316 248258677 2120090 17500 0 X X 0 1 X 1 0 1 202713 1713126 1738349 177490 0 2600750 2600750 4607194 1510596 3096598 9265 2162 7103 1958777 857991 1100786 6805237 MEMBER SHARES 203076281 203076281 X 14406310 0 14406310 0 14406310 12286220 0 12286220 0 12286220 PART IV, LINE 1B: AS A LOAN SERVICER, THE CREDIT UNION RECEIVES PRINCIPAL PAYMENTS, INTEREST PAYMENTS, TAX PAYMENTS AND INSURANCE PAYMENTS AND THEN REMITS THESE FUNDS TO THE APPLICABLE THIRD PARTIES ON BEHALF OF THE BORROWERS. ESCROW FUNDS WERE EXCLUDED FROM CORPORATE ASSETS ON THE FINANCIAL STATEMENTS. PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES AND STATE INCOME TAX. THE CREDIT UNION IS A STATE CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE SECTION 501(C)(14). X 1 1 X X 0 1 0 SHEM CULPEPPER CEO/BOARD MEMBER 280565 0 31853 0 7313 0 8548 0 4369 0 332648 0 0 0 JOHN CODY KIDD VP OF LENDING 132112 0 27467 0 6829 0 4160 0 6565 0 177133 0 0 0 TIM O'REILLY VP OF MARKETING 125900 0 25790 0 0 0 3913 0 4525 0 160128 0 0 0 PART I, LINE 1A ODESSA COUNTRY CLUB MEMBERSHIP FOR SHEM CULPEPPER AND CODY KIDD. PART I, LINE 4B IN 2017, SHEM CULPEPPER, JOHN CODY KIDD, AND TIM O'REILLY PARTICIPATED IN A 457(F) FOR WHICH EACH PARTICIPANT ACCRUED $19,319, $9,660, AND $9,660, RESPECTIVELY. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A CREDIT UNION, WHICH IS A NOT-FOR-PROFIT ORGANIZATION. THE CREDIT UNION HAS MEMBERS AND THESE MEMBERS HAVE THE RIGHT TO ELECT THE GOVERNING BODY OF THE CREDIT UNION, AND THE MEMBERS MAY RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IF DECIDED UPON BY THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7A EACH PRIMARY SHAREHOLDER OR MEMBER OF THE CREDIT UNION THAT HAS $25 DEPOSITED INTO THEIR REGULAR SHARE ACCOUNT IS CONSIDERED A MEMBER IN GOOD STANDING AND IS AFFORDED ONE VOTE FOR ELECTION OF THE GOVERNING BODY. 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. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS OF THE CREDIT UNION HAS DELEGATED THE AUTHORITY TO REVIEW AND APPROVE THE SUBMISSION OF THE FORM 990 TO THE PRESIDENT/CEO OF THE CREDIT UNION. ONCE THE PRESIDENT/CEO HAS APPROVED THE INFORMATION REPORTED ON THE FORM, THE INFORMATION IS MADE AVAILABLE TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION HAS IMPLEMENTED A SEGREGATION OF DUTIES TO HELP MINIMIZE THE EVENT OF A PERSON IN A POSITION OF AUTHORITY BENEFITTING FINANCIALLY FROM A DECISION. POLICIES HAVE BEEN WRITTEN TO HELP MITIGATE SUCH OCCURENCES, AND THESE POLICIES ARE REVIEWED ON A YEARLY BASIS BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION USES COMPEASE THAT WILL PROVIDE PAYROLL DATA FOR POSITIONS ACROSS THE COUNTRY WITHIN THE CREDIT UNION INDUSTRY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION WILL ALLOW MEMBERS TO REVIEW GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY UPON REQUEST. THE FINANCIAL STATEMENTS ARE POSTED MONTHLY AT EACH BRANCH, REVIEWED DURING THE CREDIT UNION'S ANNUAL MEETING, AND DISCLOSED IN THE QUARTERLY CALL REPORT WHICH IS AVAILABLE ON THE NCUA'S WEBSITE. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES 67,701. FORM 990, PART IX, LINE 24E TRAINING/DEVELOPMENT/EDUCATION 194,730. MISCELLANEOUS 23,413. FORM 990, PART XII, LINE 2C: THE CREDIT UNION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.