2017-11-13T11:17:41-06:00 2016-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2016-01-01 480570799 MERITRUST CREDIT UNION MERI 3166831199 8710 EAST 32ND STREET NORTH WICHITA KS 67226 RANDY DOERKSEN CFO 3166831199 2017-11-13 1 DOUGLAS J ORTH P01076394 3052328272 50.235.194.18 2017-11-13 12:17:16 ES P 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 062293E64DF58CF8D35332F263D6456F83B37FCF 2016 2017-02-10 21:41:12Z JAMES NASTARS 8710 EAST 32ND STREET NORTH WICHITA KS 67226 72032277 0 X WWW.MERITRUSTCU.ORG X 1936 KS MERITRUST CREDIT UNION IS A MEMBER-OWNED NOT-FOR-PROFIT FINANCIAL COOPERATIVE WHICH EXISTS TO PROVIDE FINANCIAL SERVICES WHILE MAINTAINING THE HIGHEST ETHICAL STANDARDS. SAFE MANAGEMENT OF OUR MEMBERS' ASSETS IS OUR MAIN OBJECTIVE AND WE WILL MANAGE OUR BUSINESS IN AN ECONOMICALLY SOUND MANNER. 5 5 373 8 403713 0 0 0 52633436 62886582 739495 1229669 8641520 7859069 62014451 71975320 0 0 0 0 18122118 21368424 0 0 0 36645285 42506378 54767403 63874802 7247048 8100518 1109925552 1266799389 1002599286 1154367150 107326266 112432239 X MERITRUST CREDIT UNION IS A MEMBER-OWNED NOT-FOR-PROFIT FINANCIAL COOPERATIVE WHICH EXISTS TO PROVIDE FINANCIAL SERVICES WHILE MAINTAINING THE HIGHEST ETHICAL STANDARDS. SAFE MANAGEMENT OF OUR MEMBERS' ASSETS IS OUR MAIN OBJECTIVE AND WE WILL MANAGE OUR BUSINESS IN AN ECONOMICALLY SOUND MANNER. 0 0 INCOME FROM THE CREDIT UNION MEMBERSHIP AND INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 13253 0 1 373 1 1 1 0 0 0 0 0 X 5 5 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 1 1 1 0 X JAMES NASTARS 3166831199 8710 EAST 32ND STREET NORTH WICHITA KS 67226 MARCI JOHNSON BOARD CHAIR 3.00 X 0 0 0 STEVE DUNN BOARD VICE CHAIRMAN 3.00 X 0 0 0 RICK DODDS BOARD SCRETARY/TREASURER 3.00 X 0 0 0 DUANE VAN CAMP BOARD DIRECTOR 3.00 X 0 0 0 JAMES NASTARS PRESIDENT/CEO 40.00 X 506963 0 9531 RANDY DOERKSEN CFO/VP ADMINISTRATION 40.00 X 226232 0 13478 WADE BRUENDL EVP STRATEGY 40.00 X 237114 0 11699 BRIAN DAVIDSON SVP LENDING/CLO 40.00 X 227809 0 13308 EVAN WILSON VP/CHIEF EXPERIENCE OFFICER 40.00 X 197202 0 12425 KAREN CALLAWAY VP/CHIEF RISK OFFICER 40.00 X 161480 0 9761 JAMIE TAULBEE VP RETAIL BANKING 40.00 X 180221 0 2602 CLIFFORD SHOFF CHIEF TECHNOLOGY OFFICER 40.00 X 125307 0 3717 JOHN BECKMAN DIRECTOR OF REAL ESTATE 40.00 X 130305 0 6991 DONNELLE STEWART CONTROLLER 40.00 X 109093 0 4566 ANGELA BACK DIRECTOR OF DEPOSIT STRATEGIES 40.00 X 108647 0 4761 2210373 0 92839 14 0 1 0 HUTTON CONSTRUCTION 2229 S WEST ST WICHITA KS 67213 CONSTRUCTION 2188849 ALEXANDER OPEN SYSTEMS PO BOX 872380 KANSAS CITY MO 64187 NETWORK STORAGE 1670383 DIGITAL INSIGHT PO BOX 515306 LOS ANGELES CA 900516606 ONLINE/MOBILE BANKING 1540984 ROUTE 66 WARRANTY PO BOX 1075 MOUNTAIN HOME AR 726541075 EXTENDED WARRANTIES 1061214 FISERV PO BOX 99924 GRAPEVINE TX 76099 DNA/SOFTWARE 751023 37 INCOME FROM LOANS 522100 51496945 51496945 FEES/CHARGES 522100 10985924 10985924 NON-MEMBER ATM FEE INCOME 900099 140824 140824 UNRELATED INVESTMENT INCOME 523000 126891 126891 UNRELATED WARRANTY INCOME 524298 121958 121958 14040 14040 62886582 1230030 1230030 56596 56957 -361 -361 -361 MISCELLANEOUS INCOME 522100 7859069 7859069 7859069 71975320 71571607 403713 0 X 1637617 14210693 553867 3814250 1151997 650324 118903 172838 443070 1672341 2817032 3230455 1680974 290966 11474719 181618 2736395 175890 PROVISION FOR LOAN LOSS 10213222 LOAN SERVICING 3069806 VISA INTERCHANGE/DPS FE 1835558 MISCELLANEOUS EXPENSES 718711 1023556 63874802 60626643 86241018 1456142 298471 968154017 1098611542 3689360 1583049 49579978 19537757 27400248 30042221 18172805 13316094 2000000 2000000 28426337 34706994 1109925552 1266799389 9877561 13306076 46571000 94071000 946150725 1046990074 1002599286 1154367150 X 0 0 0 0 107326266 112432239 107326266 112432239 1109925552 1266799389 X 8100518 20564 -3015109 X X 0 1 X 1 0 6894458 6894458 25640881 6493345 19147536 289078 158833 130245 16755561 12885579 3869982 30042221 SHARE DRAFTS 139446856 SHARES 168797827 MONEY MARKET ACCOUNTS 197807466 IRA SHARES 52534107 SHARES AND IRA CERTIFICATES 374360066 NON-MEMBER CERTIFICATES 114043752 1046990074 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED 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 AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2015, 2014, AND 2013 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. X 0 1 X X 0 1 0 JAMES NASTARS PRESIDENT/CEO 358664 0 45001 0 103298 0 5026 0 4505 0 516494 0 0 0 RANDY DOERKSEN CFO/VP ADMINISTRATION 195801 0 30431 0 0 0 9258 0 4220 0 239710 0 0 0 WADE BRUENDL EVP STRATEGY 205834 0 31280 0 0 0 7398 0 4301 0 248813 0 0 0 BRIAN DAVIDSON SVP LENDING/CLO 198120 0 29689 0 0 0 9061 0 4247 0 241117 0 0 0 EVAN WILSON VP/CHIEF EXPERIENCE OFFICER 171380 0 25822 0 0 0 8348 0 4077 0 209627 0 0 0 KAREN CALLAWAY VP/CHIEF RISK OFFICER 140658 0 20822 0 0 0 6607 0 3154 0 171241 0 0 0 JAMIE TAULBEE VP RETAIL BANKING 158742 0 21479 0 0 0 98 0 2504 0 182823 0 0 0 PART I, LINE 1B THE INFORMAL POLICY REGARDING TRAVEL FOR COMPANIONS IS LIMITED TO ONE TRIP PER YEAR AND THE BENEFIT IS TAXABLE. PART I, LINE 4B CERTAIN MEMBERS OF MANAGEMENT PARTICIPATE IN A 457(F) PLAN. JAMES NASTARS RECEIVED A PAYOUT OF $103,298 DURING 2016. BENEFITS ACCRUED DURING 2016 ARE AS FOLLOWS: JAMES NASTARS - $73,597, KAREN CALLAWAY - $31,230, BRIAN DAVIDSON - $49,505, RANDY DOERKSEN - $41,254, CLIFF SHOFF - $21,000, JAMIE TAULBEE - $31,718, EVAN WILSON - $42,134, KIM ROWLEY - $25,980 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. 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 CFO IS RESPONSIBLE FOR THE PREPARATION OF THE RETURN. THE RETURN IS REVIEWED BY THE CONTROLLER AND THE BOARD OF DIRECTORS. ONCE THE REVIEW AND ANY NECESSARY CORRECTIONS ARE COMPLETED, THE RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 12C ALL MERITRUST OFFICIALS REVIEW AND EXECUTE THEIR ACKNOWLEDGMENT AND COMMITMENT TO THE CODE OF CONDUCT POLICY, INCLUDING THE CONFLICT OF INTEREST STATEMENT OF DISCLOSURE AT THE BEGINNING OF THEIR TERM IN OFFICE. IF A CREDIT UNION OFFICIAL BELIEVES THEY MAY HAVE A CONFLICT OF INTEREST, THEY MUST PROMPTLY AND FULLY DISCLOSE THE POTENTIAL CONFLICT TO THE CHIEF EXECUTIVE OFFICER AND THE CHAIRPERSON OF THE BOARD IN ACCORDANCE WITH POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION USES A COMPENSATION SYSTEM CALLED COMPEASE. COMPEASE PURCHASES AND COMPILES DATA FROM A VARIETY OF SOURCES INCLUDING BUT NOT LIMITED TO CUNA COMPLETE STAFF SALARY SURVEY REPORT, ABA COMPENSATION AND BENEFITS SURVEY REPORT, HR PERFORMANCE SOLUTIONS FINANCIAL COMP SALARY SURVEY, AND COMPDATA FINANCIAL INSTITUTIONS SALARY SURVEY. INCLUDED IN THE DATA ARE APPROXIMATELY 100 CREDIT UNIONS AND 500 TOTAL COMPANIES AND FINANCIAL INSTITUTIONS (DATA IS WEIGHTED TO THE CREDIT UNION SIDE). COMPANY SIZE AND GEOGRAPHIC AREA ARE ALSO CONSIDERATIONS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC ON THE NCUA'S WEBSITE VIA THE 5300 CALL REPORT FILING. FORM 990, PART IX, LINE 24E MAINTENANCE 628,357. LOSS ON MORTGAGES 197,721. STATE EXAM FEES 197,478. FORM 990, PART XI, LINE 9: NET CHANGE IN DEFINED BENEFIT PLAN -3,015,109. 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. CUSTOM FINANCIAL RESOURCE 8710 E 32ND STREET NORTH WICHITA KS 67226 481231931 FINANCIAL KS MERITRUST CREDIT UNION C 119451 482779 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 CUSTOM FINANICAL RESOURCES INC N 6000 ESTIMATE CUSTOM FINANICAL RESOURCES INC O 60000 ESTIMATE CUSTOM FINANICAL RESOURCES INC P 66000 ESTIMATE